PaxosReviews of paxos.com

Paxos invest limited Is a pure scam . This company claims to be located in south Korea under a CEO called Seunggun joh . I invested my funds into their company for only three weeks they had proved to me of what they are. They denied me my investment after it had expired 🚩🚩🚩🚩🚩 I personally discourage who ever wants to trade with this company they are not worth human trust.

absolute nightmare. terrible customer service. stay away

Update 2023 The company at some point seems to have gone under new management again or at least the site and policies were updated. Prior it would not allow changing of 2FA, lots of problems as I described below, but now has a new, clean interface/site, allows changing security settings, no issues. Is only available for institutions however. Previous August 2021: I would not recommend you use this company for any reason. I was using Paxos from before it was called Paxos (Itbit) and everything was very good at that time. No issues and customer service responded to requests. There was even a phone line with great agents (some overseas, I believe). Since being rebranded as Paxos things have gone downhill. Customer service does not seem to speak English and doesn't understand anything. You get responses to emails, but they are incoherent. They don't answer your questions. They ask you repeated questions about the source of funds, transaction history, and even though you answer them, they say you haven't answered them and keep e-mailing you. They spam you constantly with emails, I literally probably have 30 emails from them in the past couple weeks. Then instead of addressing any concerns, they start threatening you. I have never experienced such a poor level of customer service. I see from other reviews (here and elsewhere) that I am not alone in being bombarded with invasive requests that cannot be satisfied. In addition they use poor security practices. The security was much better under the previous company. It's not worth it to stay with them.

Sent 1 PAXG and $2400 to an account I opened. Tried to withdraw and my request has not been processed they request additional information and when I send it my email is rejected by their server. They are now holding $4500 dollars aprox and I do not know if I am going to recover my funds. Support tickets have not helped so far. Will update… My funds were released and fully recovered it took about 2 days and several tickets

I've never seen such an annoying exchange such as Paxos! There are tons of issues which makes it not suitable for individuals, and probably everyone else too: - Extremely slow to proceed sales of PAXG - Expensive fees - Illiquid built-in crypto exchange - Extremely invasive ToS where your money doesn't belong to you anymore (pretty much the opposite of what Bitcoin was built for) - Low withdrawal limits despite KYC - Asking more information and documents every week despite providing them already On top of that this is the second time I receive an email asking for more information in the span of a few hours, feels almost like harassment. I already lost massively because of the price per ounce crashing lately, figured out cryptos isn't that bad after all. Beware of BUSD, PAX and PAXG tokens on Ethereum network, they are subject to the same ToS and they can seize your assets anytime for any reason.

Frustrated after sending a transfer to @PaxosStandard and discovering that I used the incorrect Bank account (wire-back minus 86€ ) As a customer it was not clear in their UX that when I'm sending a non-USD wire I need to use the main bank. A pity because I liked their platform and they are a respected company. However the confusing user experience and the fact that if you loose money on a wire transfer, even following their indications, it will be not compensated make me think twice about depositing money again with them. My only intention was to buy an ounce of Pax Gold and make an investment. Instead I lost 5% of the money I transferred to the USA because is not clearly explained how to transfer the money from a non USD account. Be aware, send an email to support, make 100% sure that your transfer is going to arrive. Otherwise you are on your own, don’t expect that Paxos support is going to save you on this one. Actually I still wonder why they put two bank accounts on their deposit instructions when only one is associated with your account.