What is BitPax?

BitPax was a major peer-to-peer (P2P) cryptocurrency marketplace.

It was designed to allow individuals around the world to buy and sell cryptocurrencies (like Bitcoin, Tether) directly with each other, rather than through a traditional centralized exchange.

1. Unmatched Payment Flexibility

• Hundreds of Options: BitPax was famous for supporting an extremely wide array of payment methods (often over 350+), far more than a typical centralized exchange.
• Examples: This included bank transfers, popular online wallets (like PayPal), and even less conventional methods like gift cards. This flexibility made it a crucial financial on-ramp for users globally.
• Accessibility: It was highly accessible to the unbanked or underbanked population people who didn't have access to traditional banking services.

2. Direct Control and P2P Trading

• Direct Interaction: Users traded directly with each other, rather than with the platform itself.
• User Control: This allowed sellers to set their own prices and specific trade conditions, which could sometimes lead to better rates depending on the region and payment method.

3. Security via Escrow

• Buyer and Seller Protection: BitPax used an independent, institutional grade escrow service to secure trades.
• How it Worked: When a trade was started, the seller's cryptocurrency was locked in the escrow. It was only released to the buyer after the seller confirmed they had received the payment, significantly reducing the risk of fraud.

4. Low Fees for Buyers

• No Buying Fees: Typically, users who were buying cryptocurrency on the platform did so with low fees. The small service fee was usually charged to the seller, depending on the payment method used.

Updated on: 27/10/2025