Is WAXPEER Legit 2023 – Our Full Review Here

waxpeer review 2023

Introduction to WaxPeer

With an outstanding variety of CS:GO skins and premium items, a highly liquid P2P system for fast sales and purchases at competitive prices, and an outstanding bank experience thanks to its full crypto support, WaxPeer has become one of the best P2P trading sites in 2023.

In this review, we will let you know the pros and cons of WaxPeer, as well as other details such as the deposit/payout methods available along with their fees. Keep reading to find out if WaxPeer is the right trading site for you.

History

WaxPeer-SkinMarket-Place

WaxPeer was created on May 20th, 2019 by a group of independent investors and developers located in Kiev, Ukraine. Their goal was to create a rapid, vivid and highly liquid P2P trading platform for buying and selling CS:GO and Rust skins and items. 

Since its creation, WaxPeer has managed to become an important third-party CS:GO and Rust trading site to traders and gamers who prefer peer-to-peer trading, because they have a large user base, multiple payment methods and a highly liquid market that guarantees smooth and fast sales and purchases.

Despite its smaller size in comparison to other sites in this category, WaxPeer has demonstrated to be a solid and resilient platform throughout the years, overcoming major obstacles such as the COVID-19 crisis, regulations and the overwhelming competition.

Popularity

WaxPeer receives over 166,000 monthly visitors and registers hundreds of trades per day. It has managed to reach this number of monthly visitors thanks to their referrals, direct marketing campaigns and positioning on search engines like Google. 

Traders Are Talking About It

WaxPeer has managed to build a fan base of 52,000+ followers on Twitter with an average of 3,000+ views per tweet, bringing them a respectable level of engagement every time they post. And when it comes to Reddit, they have over 250 posts dedicated to it. Indeed, traders are actively talking about it.

A Liquid and Vivid Market

Despite having a smaller number of daily visitors than other platforms in the industry, WaxPeer has over 321,000 live offers that sum a total of $6M+. This showcases the outstanding liquidity of the platform, allowing you to buy and sell CS:GO and Rust skins easily via peer to peer. And based on our experience using WaxPeer, we can vouch for the speed and smoothness of their P2P trades.

A Highly Rated P2P Trading Site

A Photo of Waxpeer trust pilot review

WaxPeer has been rated 4.4 out of 5.0 with 430+ reviews on TrustPilot, describing it as a reputable, trustworthy, nice and efficient skins trading site for P2P traders. Therefore, we can say that WaxPeer is a legit platform backed up by the customers that actively use it for buying and selling CS:GO and Rust skins.

We find the same consensus on Reddit, where users discuss WaxPeer and a large percentage rate it as a reliable and legit platform. Therefore, if the customers rate it as such, then it’s a good indicator that you should use it as well.

Lagging Behind the Competition

However, they’re lagging behind the competition because they’re 4 years old, and many other platforms have achieved a much bigger user base in the same or less time. This is why WaxPeer remains as a niche P2P trading platform rather than a mainstream trading site like DMarket or Skinport. 

Market Type

WaxPeer is a P2P trading site where you can buy and sell CS:GO and Rust skins directly from your Steam inventory. As such, all the transactions need to be approved and executed by the customers. The biggest advantage here is that you can post your buy/sell ads on WaxPeer and other marketplaces at the same time, while being able to keep using them in the game.

Furthermore, P2P markets like WaxPeer also promote higher prices as opposed to bot-powered sites that tend to reduce the prices by a significant margin. Even though buyers can often find huge deals, sellers can also find key opportunities to sell their skins at high prices.

Remember that WaxPeer only supports cash trading, which means that you can only use real money to buy skins, and you can sell your skins for real money. As of now, the platform does not support skin for skin trading, which is a downside as it limits the number of available trade modes.

Buying & Selling Fees

WaxPeer charges the fees to the seller, which means that you’ll have to pay a 6% fee on every sale for CS:GO and Rust skins and items. For example, if you sell a skin for $200, then you’ll have to pay a fee of $12 on it. While the fee is cheaper than at the Steam Community Marketplace, it’s higher than at other trading sites such as DMarket.

Honestly, they should lower their selling fee because P2P competitors like GamerPay charge a maximum of 5.00%, with the possibility to reduce it even more. And when we compare their popularity and reach, we can conclude that their selling fee might be handicapping their growth potential in the industry.

Deposit & Payout Methods

WaxPeer supports cash trading at its fullest, so you can deposit and withdraw real money from the platform easily. Here you will find a complete breakdown on all the available deposit and payout methods.

Deposit Methods Available

Here you have all the available deposit methods to fund your WaxPeer account to start trading on their platform:

Deposit Method Min. Deposit Deposit Fee
Visa $26 3.5-5%
MasterCard $26 3.5-5%
Bitcoin $1 2%
Litecoin $2 2%
USDT $1 0%
BNB $1 2%
BNB (BEP20) $1 0%
DAI $1 1%
Tron $1 0%

Evidently, you can also deposit your CS:GO and Rust skins to sell them, and all you need to do is to link your Steam account to your WaxPeer account. Unfortunately, you can only deposit skins to sell them because WaxPeer doesn’t support skin-for-skin trading.

The only deposit methods that don’t charge fees are BNB via BEP20, USDT and Tron, whereas credit cards and other cryptocurrencies will take a share out of your deposit. This is something they should improve, because other P2P competitors don’t charge these types of fees.

Payout Methods Available

When you are ready to cash out funds from your WaxPeer account after selling your CS:GO and Rust skins, here you have the available payout methods:

Payout Method Min. Payout Max. Payout Payout Fee
USDT (Polygon) $1 $10,000 2%
USDT (TRON) $1 $9,000 2%
TRON $5 $986 2%
Litecoin $50 $2,000 2%

As you can see, WaxPeer only supports cryptocurrencies for payouts. Therefore, we recommend you to set up your crypto wallet before trading on this platform, so you can be ready to process the withdrawals right off the bat.

We don’t like that they charge fees for crypto withdrawals, because other competitors don’t do this. And because they already charge a 6% selling fee, this extra fee only increases the cost of doing business at WaxPeer.

Pros

  • Highly liquid P2P market for buying and selling CS:GO skins fast
  • Great variety of CS:GO skins
  • Good prices for buyers
  • 100% crypto friendly skins trading site
  • Instant deposits and fast payouts
  • Easily inspect CS:GO and Rust skins with the Screenshot feature

Cons

  • You have to pay a 2% fee on payouts
  • Limited selection of Rust skins
  • You have to pay fees on deposits

Verdict: Should You Trade at WaxPeer?

WaxPeer Graphic

If you prefer P2P trading over bot trading, you prefer using cryptocurrencies and you’ve found skins that aren’t available at other marketplaces, then you should definitely trade at WaxPeer. Thanks to its highly liquid market with a great variety of CS:GO skins at competitive prices, and a premium banking experience with instant deposits and payouts, WaxPeer is an excellent choice for P2P traders looking for rare and premium skins.

On the other hand, if you’re looking one or more of the following features, then we recommend you to look for alternative to WaxPeer:

  • If you prefer using traditional payments such as PayPal, bank transfers and credit cards
  • If you prefer automatic sales and purchases
  • If you are interested in skin for skin trading
  • If you want to focus on trading, buying and selling Rust skins and items

Now that you know when using WaxPeer is an excellent idea, and when it is not, you can make the best decision for your skins trading journey!