Paxful Highlights Security and User Education for Crypto

Paxful, a peer-to-peer (P2P) cryptocurrency marketplace, has highlighted the importance of security awareness amongst digital currency users in acknowledging Cybersecurity Awareness Month during October.

Although, a report revealed that illicit cryptocurrency activity accounted for just 2% of Africa’s roughly $16 billion trading volume from July 2019 to June 2020, but the cryptocurrency sphere is not immune to opportunists with illicit intent.

“In our experience, the majority of cryptocurrency transactions are safe. Despite this, risk management is top-of-mind for us to protect our customers,” says Ray Youssef, co-founder, and CEO of Paxful.

Attaching Importance to Security and User Education

In the company statement, Paxful hightlights that it takes security seriously and utilizes tools to protect its users. It has been one of the first P2P crypto companies to implement a full anti-money laundering (AML) program that includes identity verification and proof of address through its partnership with Jumio.

In addition, In order to educate users and help them make responsible trading decisions, Paxful has partnered with leading local crypto-industry educators such as CoinEd and the Blockchain Academy.