Paybis Review 2021

Paybis is a digital currency purchasing platform developed in 2014. It has gained enormous popularity and is one of the most trusted and respected cryptocurrency exchanges in the world today. It provides a wide variety of payment methods to trade Bitcoin and other altcoins. The goal of the Paybis team is to offer their customers a safe and secure trading platform with 24*7 customer support. Moreover, the Paybis trading platform is active on all social media platforms where they share information about their company. This helps to increase their level of transparency.In this Paybis review, we will discuss the following topics in detail – features, pros, cons, different methods of payment, fees, supported crypto, customer support, and more.

What Is Paybis?

Paybis is the most popular UK-based cryptocurrency exchange, offering more advanced features for experienced traders. The exchange is regulated under FCA or Financial Conduct Authority. It was developed in 2014 and has the highest permitted limits in the world, instant pay-outs, 24*7 customer support, and above-par security features. It is a multi-cryptocurrency trading platform that supports buying and selling of major cryptocurrencies in the world. It offers additional liquidity services for fintech businesses.

Paybis supports over 10 major digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Binance Coin, Litecoin, Ripple’s XRP, Tron, Stellar, and USD Tether. The users can buy these supported coins with over 47 popular fiat currencies. Additionally, the platform supports over 9 languages including, English, French, Arabic, Italian, Korean, Spanish, German, and Russia. Hence, it offers a global reach, expanding its availability to over 180 countries in the world.

Paybis Summary

Headquarters Scotland, UK
Found in 2014
Native Token None
Listed Cryptocurrency BTC, ETH, XRP, LTC, XLM, BCH, BNB, TRX, NEO
Trading Pairs N/A
Supported Fiat Currencies 40+
Supported Countries 180+
Minimum Deposit N/A
Deposit Fees Free
Transaction Fees 2.49%
Withdrawal Fees Free
Application No
Customer Support 24*7, Mail, Live chat, Support portal and Social Media accounts

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Key Features of Paybis Exchange

Paybis LTD., the well-established crypto exchange, has been in the industry since 2014, and it continues to offer an easy and safe platform to its customers to trade in cryptocurrencies. Out of the many notable features, we have mentioned only the top Paybis features below:–

Accepts Credit/Debit Cards

There are very few Bitcoin exchanges in the market that accept payments through credit or debit cards, and Paybis is one of them. However, other payment methods, including Skrill, Neteller, wire transfer, and bank transfer, allow users to buy and sell cryptocurrencies.

Global Coverage

This platform is one of the few that provide cryptocurrency trading services in over 180 countries, including 48 US states. Hence, it has global coverage with a few exceptions like New York and Hawaii.

No Wallet on the Platform

With Paybis, users can stop worrying about keeping funds in their crypto wallets. Paybis does not store any funds for security reasons. It simply transfers the funds from the personal wallet that users mention while purchasing crypto coins.

Referral Program

Referring someone to the Paybis platform earns users 20% of the fees they pay. Big traders who invite more referrals or business-level traders can get an even higher rate after discussion with the Paybis team.

FCA License

Paybis is registered and licensed under a UK regulatory body, Financial Conduct Authority (FCA)

Fast KYC Process

The KYC process on Paybis does not take more than 15 minutes. Once the process is complete, users are free to buy and sell cryptocurrencies on the Paybis platform.

Easy Conversion Calculator

Paybis offers a tool for calculating how much a certain quantity of the crypto costs.  Users have to enter the amount of crypto they wish to buy or sell on the conversion calculation provided on the Paybis web page. 

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Paybis Review: Pros and Cons

Pros Cons
24*7 multilingual customer support. Higher trading fees.
Transparent fee structure and quick transactions. Lacks in mobile app.
Multiple payment methods. Few supported cryptocurrencies.
Above-par security.
Instant transfer of funds from personal wallet.

How to Register on Paybis?

To start trading on the Paybis crypto exchange platform and reap benefits, users have to register themselves by following the steps mentioned below:–

Step 1

First, users need to go to the official website of the Paybis trading platform and click on Sign up.  

Step 2

A form will pop up on the screen, asking users to enter an email ID and create a secure password. They must not disclose the password to anyone for security reasons.

Step 3

After entering the email ID and password, the site will redirect them to the exchange page of the Paybis platform, allowing users to start buying the desired cryptocurrencies. And that is all. The platform offers one of the fastest registration processes. The registration process on Paybis is straightforward and quick, involving only three steps. However, users need to confirm their email IDs and pass the KYC verification process.

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How to Purchase Cryptocurrency on Paybis?

We have already discussed how to register on the Paybis cryptocurrency trading platform in detail. Now, to start trading, buying, and selling their preferred crypto assets, users need to follow the steps mentioned below:–

Step 1

First, the users need to select a particular payment method by selecting the tiny arrow placed in the You Spend segment of the platform. This will show the different payment methods supported by the platform. Users then need to select the desired mode and choose the fiat they will be using for the transaction. Next, users need to enter the cash amount they wish to spend in the given box.

Step 2

The exact process is to be followed for purchasing cryptocurrency from Paybis. One needs to go to the You Receive section and choose the desired cryptocurrency they wish to purchase.

Step 3

Users have to select Buy Bitcoin, and the website will direct them to a different page asking them to carry out a few KYC verification processes. The processes include proof of the user’s identity, residential address, and a selfie.

On completion of step 3, users can start purchasing cryptocurrency. The process of making crypto purchases on Paybis is one of the easiest compared to other crypto exchanges. One can explore the website, which offers extremely simple and clutter-free functions. Indeed the platform is not suitable for advanced traders who require advanced tools to aid them in trading effectively. However, the Bitcoin exchange offers the perfect conditions for new traders to learn how to trade cryptocurrencies from these exchanges.

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Paybis Fee

Paybis offers a transparent fee structure that varies based on the chosen payment method. For the first transaction through credit or debit card, trading fees are not charged, but the processing fees may still apply. From the second transaction onwards, 2.49% is charged on every transaction.

Paybis Purchasing Fees

Paybis provides a complete breakdown of the purchase fees while buying or selling supported cryptocurrencies on the Paybis exchange. Once users choose the payment method and enter the amount of fiat money, Paybis provides them with the equivalent amount of crypto they want to purchase and the fee breakdown. 

Transaction Purchasing Fees
Buy Bitcoin with a credit or debit card 5% + 5% + 0.1 USD
Buy Bitcoin with Skrill 3.54% + 6.95% + 0.1 USD
Buy Bitcoin with Advanced Cash 3.95% + 0.1 USD
Buy Bitcoin with Neteller 3.54% + 5.95% + 0.1 USD
Buy Bitcoin with Payeer 4.95% + 0.1 USD
Buy Bitcoin via bank transfer USD (wire) 3% + 0.1 USD
Buy Bitcoin via bank transfer EUR (SEPA) 1 EUR + 1.5% + 0.09 EUR

To demonstrate the process, we have shown an example of a Bitcoin purchase with EUR through Skrill. Users can do the same with a EUR bank transfer or wire transfer. The fees included here are the Skrill fees that vary depending on the amount one wishes to spend, Paybis fees, and network fee (here, it is the Bitcoin fee)

Paybis Selling Fees

Users can also get a full breakdown of selling fees on Paybis for selling cryptocurrencies in return for fiat currencies. Users need to select the cryptocurrency and quantity of cryptos they want to sell along with the fiat currency they wish to receive. They also need to choose the payment method through which to receive the fiat equivalent.

Paybis Network Fees

Paybis do not charge network fees, but the miners need to confirm the transactions on a particular blockchain. The fees vary based on the crypto market demand for a particular currency. Paybis charges fees per transaction, and it is not dependent on the amount spent. 

Paybis Deposit/Withdrawal Fees

Paybis does not charge deposit or withdrawal fees. However, the network fee is always involved in transferring crypto coins, as mentioned earlier. 

Paybis Exchange Fees 

The bank charges an exchange fee for converting bank currency into USD, EUR, or GBP. The card issuer fixes this fee. For More Details on price of different cryptocurrency click here.

Supported Cryptocurrencies by Paybis

Traders can view the current price of all the 10 supported cryptocurrencies on the platform, and they include:- 

  • Bitcoin (BTC) 
  • Bitcoin Cash (BCH) 
  • Ethereum (ETH)
  • Binance Coin (BNB)
  • NEO (NEO)
  • Litecoin (LTC)
  • Stellar Lumens (XLM)
  • Ripple’s XRP (XRP)
  • USD Tether (USDT)
  • Tron (TRX)

Accepted Payment Methods by Paybis

The best thing about Paybis is that it supports multiple payment methods for purchasing and selling digital currencies online.

The supported payment methods are:-

  • Credit card
  • Debit card
  • Bank transfer
  • Skrill
  • Neteller
  • Wire transfer
  • AdvCash
  • Payeer

Users can also sell Bitcoin on the Paybis platform and get US or EUR dollars in exchange.

How Fast Does Paybis Exchange Send Your Coins?

The time taken by an exchange to send or receive crypto coins depends on the payment method used by the traders while depositing or making a purchase. Now, if one asks how fast Paybis sends crypto coins, the answer depends on the payment method chosen to send the coins.

Through Credit or Debit Cards

The card payment option is accessible to almost all clients globally. For this, users need to submit a photocopy of their ID while making the payment to reap the benefits of the quick verification process and get the job done within 3 minutes. After the verification, it takes only 10 minutes to complete the transaction process. So, users receive the coins within 13 minutes, irrespective of where they live.

Through Bank Transfer

We have already discussed that Paybis exchange accepts both wire and bank transfers in USD and EUR currencies. USD deposits should be made through the wire transfer, while EUR transfers should be made through SEPA payment. Any client can use SEPA payment with a EURO bank account except the US clients. Transfers made through SEPA take 1-5 business days before the verification of the transaction. Hence, it does not take more than 6 days for Paybis to send coins through bank transfers.

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Is Paybis Exchange Safe?

The Paybis scam is not real. The cryptocurrency exchange is a legal and registered company in the United Kingdom. The company is licensed with FinCen in the US as an MSB or Money Service Business. It is also allowed to provide virtual or fiat currency exchange services in many regions, including Estonia. The following features make the Paybis exchange an extremely safe and secure platform:–

Non-Custodial Exchange

Paybis does not offer a crypto wallet which means that it does not take custody of the user currency or store their funds. The user is the sole controller of the funds with your private keys, and hence there is no risk of hacking or theft on Paybis.

2-Factor Authentication

Paybis uses 2-factor authentication for securing their client accounts.

KYC and AML Policies

Paybis has AML and KYC policies on its platform that prevents illegal activity. Users have to undergo a mandatory verification process before trading on the platform, and the team carefully monitors all transactions for any sign of criminal activity.

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Paybis Customer Support

Paybis support operates 24*7, offering quick responses to customer issues relating to cryptocurrency trading on the platform. They are also available via Live Chat from Monday to Sunday. Users may contact the support at any time through the live chat. Moreover, the Support Portal on the official Paybis page provides an FAQ section that answers their clients’ most frequently asked questions. One can reach out to the customer support team through the following social media platforms:–

Facebook: https://www.facebook.com/Paybis

LinkedIn: https://www.linkedin.com/company/paybis-com

Twitter: https://twitter.com/paybis_com

YouTube: https://www.youtube.com/channel/UCccAaghY8ajWo4IEGjFay1Q

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Paybis Review: Conclusion

To conclude this Paybis review, we can say that Paybis is one of the best exchanges for cryptocurrency in the world that offers all kinds of crypto investors access to 10 major cryptocurrencies in the market today. The exchange supports 47 fiat currencies and caters to beginners and advanced traders in different parts of the world. The simple to use trading platform has no hidden fees and includes AML and KYC requirements, making it a secure and trustworthy platform. 

FAQs

Is Paybis Legit?

Paybis is certainly legitimate as it meets all the basic KYC verification rules. It is safe to use for crypto trading with all the required security features that allow users to purchase crypto quickly and securely. 

Does Paybis Work in The USA?

Paybis does not accept any fiat-to-crypto orders from clients residing in the following US states:–

  • Alaska
  • Nevada
  • Louisiana
  • Vermont
  • New Mexico
  • Washington

What Are Paybis Fees?

Paybis charges a 2.49% fee from the 2nd credit card transaction. The processing fee for the minimum payment for all debit and credit card transactions is 10 USD or an equivalent value in the desired currency. 

Does Paybis Require ID Verification?

Regardless of the currency users choose to buy on Paybis, they need to verify their account with the photocopy of an ID and basic personal information. Users cannot trade on the platform unless they are verified. 

Is Paybis Safe to Buy Bitcoin?

Since Paybis is absolutely legitimate, regulated under FCA or Financial Conduct Authority, and licensed with FinCen in the US as an MSB or Money Service Business, it is completely safe and secure to use for crypto trading. It fulfills all the basic KYC verification processes, and hence, it is safe to buy Bitcoin on the platform securely and instantly. 

Note – Paybis Reviews are not to be considered an endorsement or investment advice of any kind. Traders are requested to seek independent advice from experts before trading on crypto exchanges.

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