Paybis Review: Is it Safe or Legit?

Paybis is a 2014 cryptocurrency exchange that offers a wide range of payment options for trading Bitcoin as well as other cryptocurrencies. Not just that, Paybis holds many other features, which we will be going through in this Paybis review.

Summary (TL;DR)

  • Paybis began as a theoretical model in 2014 by entrepreneurs, Innokenty Users, Konstantin Vasilenko, as well as Arturs Markevich.
  • The firm is situated in the United Kingdom.
  • The website was purchased around May 22, 2014, and also the exchange commenced operations during 2015. Konstantin Vasilenko, formally joined the firm at this point, quitting his role as CRM Project Coordinator at Accenture.
  • The platform accepts BTC, ETH purchases with bank cards, Litecoin, Ripple, Bitcoin Cash, NEO, and is among the initial cryptocurrency platforms to accept BNB coins.
  • This platform supports 40+ convertible currencies.
  • It features a pricing model that is dynamic when compared to rivals.
  • Paybis, from the other side, tries to simplify the entire procedure. As a result, traders may quickly purchase Bitcoin using their debit as well as credit cards.
  • Paybis is accessible for over 180 nations and 48 jurisdictions in the United States except for New York & Hawaii.

What is Paybis?

Paybis is by far the most popular cryptocurrency platform in the United Kingdom, with more extensive options for active investors. The FCA, aka Financial Regulation Agency, regulates the trading. It was created in 2014 and offered the world’s most significant authorized limits, quick withdrawals, 24*seven customer service, and special security measures.

Paybis accepts Litecoin, Ethereum, Bitcoin, Binance Coin, Ripple’s XRP, Stellar, Tron, as well as USD Tether, among other prominent digital currencies. Users can purchase these recognized cryptocurrencies with more than 47 common conventional FIAT currencies. Furthermore, the site supports more than nine languages. As a result, it has an international influence, with distribution including over 180 nations worldwide.

Presently, services are not distributed in the listed areas: Afghanistan, Cuba, Iran, Jamaica, Pakistan, Panama, Syria, and so on.

Paybis Review
Paybis Exchange

Also Read: Best Crypto Swap Platforms

Paybis Review: Products

Paybis provides essential services for online investors, business people, and companies. It divides its offerings into two categories: private as well as business.

1. Service for Business Funding

In addition, the brand gives liquidity solutions for;

  • Affiliate Programs
  • Financial institutions
  • E-commerce firms
  • Gaming Sector
  • FinTech
  • Payment Processors
  • Sites for trading

2. This platform accepts credit and debit cards

Paybis is among the only Bitcoin exchanges in the industry that accepts debit as well as credit card transfers. Users may, however, purchase and sell bitcoins using various payment channels such as Neteller, Skrill, bank transfer, and wire transfer.

3. Recommendations Strategy

Clients gain 20% of the charges they pay by referring others through Paybis referral program. After consulting with Paybis experts, large investors who bring more recommendations or corporate-level traders may get a more considerable percentage.

4. Quick KYC Procedure

Paybis’ Verification procedure takes not over 15 minutes. Users may now purchase and trade cryptocurrencies using the Paybis portal after the activity is completed.

5. Simple Converting Estimator

Paybis provides a calculator for determining the price of a specific amount of cryptocurrency. Users must input the sum of cryptocurrency they desire to purchase or sell using the Paybis website’s conversion calculator.

Paybis Features
Paybis Features

How to Sign-up for Paybis?

Here are the steps to sign-up on Paybis

  1. Go to the official site of Paybis. 
  2. Click on Sign Up in the top right corner of their home page.
  3. Enter the information, including your email address, and create a password.
Paybis Signup
Paybis Signup
  1. Now, you can enter the amount you want to spend to buy crypto.
Paybis Buy Bitcoin
Paybis Buy Bitcoin
  1. After entering, you will be asked to complete your verification process.
Paybis Verification
Paybis Verification
  1. Once the verification is done, you can enter your wallet address.
  2. Finally, you will receive your crypto amount in your preferred wallet instantly. 

Paybis Review: Fee Structure

Paybis’ pricing structure is clear, with fees varying based on payment options.

It’s worth mentioning that Paybis waives costs on the initial credit/debit card payment a user makes; however, processing fees remain applicable. In addition, Paybis charges a commission of 2.49 percent following the initial credit card payment.

The following are the payment processing costs, including every credit/debit card purchase:

  • 10 Dollars or comparable within user’s denomination
  • 4.5 percent (USD, EUR, as well as GBP payments)
  • 6.5 percent (another currency)

The sum you desire to spend determines whether such a minimum, as well as a percentage charge, is applied.

All subsequent credit/debit card purchases in USD, GBP, and EUR would be charged at a 6.99 percent fee, whereas local currencies may be charged at an 8.99 percent commission.

Also Read: ChangeNOW review – A reliable way to exchange crypto

Paybis Deposits and Withdrawals Fees

Paybis doesn’t really impose any fees for deposits or withdrawals. However, as previously said, there is usually a network cost associated with exchanging cryptocurrency.

Is Paybis Safe?

Paybis is among the most trustworthy crypto exchangers in the business today! Another of this exchange’s finest advantages is that it does not keep your bitcoin on its system – in other words, this isn’t really custodial, which is fantastic!

When utilizing Paybis, you will need to go through significant identification confirmation measures before you can make any concrete actions on the site, specifically when it relates to asset trading.

In brief, Paybis seems to be a trustworthy cryptocurrency platform that provides several of the most significant security aspects for every one of your trade desires and needs.

Paybis Licenses
Paybis licenses

Paybis Review: Customer support

Paybis assistance is available 24 hours a day, seven days a week, and responds quickly to consumer inquiries about bitcoin transactions on the site. Customers may call assistance at any moment via the online chat feature. Furthermore, the Help Center on the main Paybis page has a FAQ area that solves their consumers’ most often asked problems.

 You may contact the customer service staff via the mentioned social networking sites: LinkedIn, Facebook, Twitter.

Paybis Pros and Cons

ProsCons
Multilingual client service is available 24 hours a day, seven days a week.High trade costs.
Funds are sent from the private wallet instantly.The smartphone app is weak.
A straightforward fee structure as well as swift transactions.
There are several payment options. Above-average security.

Paybis Review: Conclusion

To summarise our Paybis review, we will state that Paybis has become one of the most influential cryptocurrency platforms globally, providing all types of crypto traders with exposure to the top ten cryptocurrencies around the marketplace.

The exchange accepts 47 fiat currencies and serves both novice and experienced traders from all around the globe. Furthermore, the user-friendly trading system has no additional costs and contains Anti-money laundering and KYC procedures, making this a safe and reliable platform.

Frequently Asked Questions

How long will it take for me to collect my funds?

While the procedure requires just a couple of minutes to finish, your financial institution’s processing timeframes will decide when your money is credited to your wallet. This usually takes between 1 and 5 working days.

What is Paybis’s verification procedure?

Before you may buy cryptocurrencies from Paybis, you must first pass a verification procedure. This entails entering your username, location, birth date, and contact information and also submitting an image of a legal form of identification. Throughout the verification procedure, you might be asked to show evidence of address.

Is Paybis a wallet?

Please keep in mind that Paybis does not provide wallets. You’ll need one if you want to purchase Bitcoin using a bank card, so you’ll have to make it yourself. 

Is Paybis Federal Deposit Insurance Corporation insured?

Paybis isn’t really FDIC insured since the Federal deposit insurance corporation does not cover bitcoin marketplaces.

Is Paybis ever breached?

Paybis, on the other hand, has not been breached. They are doubtful to be compromised since they are online brokerage rather than a typical exchange, which means they don’t really keep assets for consumers. This is due to the fact that there will be no incentive for the intruder.

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Nisha Yadav

Hello, my name is Nisha, and I am a CSE student working hard to make my words and knowledge impact other people's lives technically and financially. Writing has always meant something to me, so here I am currently working at CoinCodeCap.