Paxful, the platform for exchanging cryptocurrencies among peers, has made a major announcement regarding the reduction of transaction fees for gift cards. The company has significantly cut its fees by 80%, bringing them down from the industry norm of 5% to a mere 1%. This move has already sparked a surge in the volume of gift card transactions and has piqued the interest of traders, as reported by the company. The fee reduction is applicable to all transactions involving BTC, ETH, USDT, and USDC, when exchanged for any supported gift card. This change is set to benefit all 12 million users of Paxful, providing them with increased rewards for each trade, a wider selection of gift cards, and greater liquidity. Additionally, the company is showing appreciation to gift card sellers by offering them a special trade incentive: a 1% rebate on every gift card they sell, valid until August 1st, 2024.
