Comparison of Paybis vs Blocktrade [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Paybis vs Blocktrade comparison!

Your expert: Alejandro Borja

paybis

Paybis

  • Threenvest valuation: 3,8/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Your expert: Xavier Tarrasó

blocktrade

Blocktrade

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Main points

Fees

fluctuate

Earns

Yes

Customer service

3/5
0,30%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold

Yes
No

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.7 – Reasonable fees with additional benefits for instant purchases.
3.9 – Competitive fees with additional benefits for European traders.

Level

fluctuate
0,30%

Brief explanation

Paybis structures its commissions to be straightforward and transparent, ensuring that users are well-informed about any costs associated with their transactions. The exchange typically charges a fee on transactions involving fiat to crypto exchanges, with the exact percentage varying depending on the payment method used. For instance, credit card transactions might incur higher fees compared to bank transfers or other payment options. Additionally, Paybis also imposes a conversion fee if a currency conversion is necessary during the transaction. This commitment to clarity allows users to plan their trading activities without worrying about hidden charges.
Blocktrade employs a competitive and transparent fee structure that aligns well with industry standards, making it a cost-effective choice for traders. The platform charges a flat trading fee which is comparable to, if not slightly below, the average fees charged by other exchanges. This straightforward approach ensures that traders can engage in transactions without worrying about variable costs based on the type of trade or the asset being traded. Additionally, Blocktrade does not impose high withdrawal fees, keeping them reasonable and ensuring that users retain most of their earnings. This fee structure is particularly advantageous for frequent traders and those dealing in smaller amounts, as it minimizes the impact of fees on overall investment returns. The clarity and fairness of the fee system at Blocktrade contribute significantly to its attractiveness as a trading platform, especially for those new to the cryptocurrency markets or looking for a cost-effective trading solution.

Paybis

paybis
Go exchange
  • Security Measures: Paybis implements robust security protocols, including two-factor authentication and advanced encryption, to protect user data and funds. Their commitment to security is evident in their operational history, which is free from any major security breaches.
  • Regulation and Compliance: Paybis operates in compliance with international financial regulations, which adds a layer of legitimacy and trust. They are registered with FinCEN in the United States and comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) guidelines, ensuring a secure trading environment.
  • Customer Service: Paybis is known for its excellent customer support, available 24/7. They provide a wide range of support channels, including live chat and email, ensuring that users can get help whenever needed.
  • Reputation and Reviews: With high ratings on trusted review platforms and positive feedback from users worldwide, Paybis enjoys a solid reputation. Users often praise the platform for its ease of use and the speed of transactions.
  • Transparency: Paybis is transparent about its fee structure and any associated costs of transactions. This transparency is crucial for trust, as users can make informed decisions without worrying about hidden charges.
  • Pros
  • Supports numerous payment methods.
  • User-friendly interface.
  • High transparency of fees.
  • Cons
  • Limited cryptocurrency options.
  • Slower at peak times.

Blocktrade

blocktrade
Go exchange
  • Possible Regulation: Blocktrade operates under the regulatory oversight of the Estonian Financial Intelligence Unit and has a legal entity registered in Luxembourg. This adherence to stringent European financial laws ensures a high level of operational integrity and compliance, making it a trustworthy platform for traders.
  • Security Methods: The platform employs advanced security measures to protect user assets and data. These include the use of secure servers, encryption protocols, and a robust internal security framework. The commitment to security is crucial in gaining and maintaining the trust of users.
  • Transparency: Blocktrade is known for its clear and transparent operational practices. This includes straightforward disclosures about trading fees and the risks associated with trading cryptocurrencies. Such transparency is essential for building trust with users who value clear and honest communication.
  • Customer Service: Blocktrade offers dedicated customer support, providing users with timely and helpful assistance on a range of issues, from technical support to transaction inquiries. Good customer service is instrumental in building trust, as it ensures users that the exchange is responsive and attentive to their needs.
  • Trading Volume and Liquidity: While not among the largest, Blocktrade maintains a healthy trading volume and liquidity, which indicates a stable trading environment. This liquidity is vital for users to execute trades efficiently without significant price slippage, further enhancing trust in the platform’s capabilities.
  • Pros
  • Regulated by EU authority.
  • Supports fiat and cryptocurrency deposits.
  • Offers mobile trading applications.
  • Cons
  • Limited cryptocurrency selection.
  • No passive income features.

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Paybis LTD
Blocktrade S.A.

Regulation

Regulated in the Reino Unido
Regulated in the UE

Year founded

2014
2018

Founder

Innokenty Isers
Luka Gubo

Payment methods

Transfers

No
No

Mastercard

Yes
No

Wire transfer

No
No

Card

Yes
No

Comparative table

Paybis FEATURES Blocktrade
Paybis offers a flexible minimum trade amount, making it accessible for beginners to start trading without a significant initial investment.
Minimum Trade
Blocktrade allows users to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat, making it accessible for beginners and those testing the platform.
Paybis charges fees that are somewhat higher than some of its competitors, which might deter frequent traders seeking cost efficiency.
Trading and Transaction Fees
Fees are competitive within the industry, typically aligning with or slightly better than average, which benefits frequent traders.
While Paybis supports popular cryptocurrencies, its selection is limited compared to larger exchanges, impacting traders looking for variety.
Number of Cryptocurrencies
Currently supports only 8 cryptocurrencies, which may be limiting for those looking to diversify beyond the most common coins.
Paybis has a moderate range of crypto-to-crypto trading pairs, but it lacks the depth found on platforms specifically designed for experienced traders.
Crypto-to-Crypto Trading Pairs
Offers a basic range of crypto-to-crypto trading pairs, sufficient for new traders but less so for advanced users.
The Paybis website provides clear information about fees and policies, although some users might seek more detailed data on security practices and fund storage.
Website Transparency
The website provides clear information about trading conditions and fees, though some users might seek more detailed data on security practices.
As Paybis focuses on simplifying the cryptocurrency trading process, it currently lacks additional financial tools like a payment card, which could enhance the versatility and everyday usability of its platform for users.
Credit/Debit Card
Lacking a dedicated exchange card, Blocktrade misses an opportunity to provide additional convenience and value to its users through card-linked benefits.
Paybis provides secure storage options, but it doesn’t offer as many advanced features like insurance or multiple signature options as some larger platforms.
Storage Offering
Offers secure cold storage options, but lacks some of the more advanced custody solutions available on other platforms.
Explanation: Limited opportunities for staking or earning rewards on Paybis may deter users looking to profit from holding cryptocurrencies.
Staking and Rewards
Does not currently offer staking or other passive income/reward programs, which could detract from its appeal to long-term investors.
The Paybis mobile app and desktop version are user-friendly and reliable, though they may lack some advanced trading tools found in more specialized apps.
Mobile App and Desktop
Both the mobile app and desktop platform are user-friendly and well-designed, making trading accessible for all user levels.
Paybis is highly rated for its customer service, offering quick and helpful support through multiple channels.
Customer Service
Generally responsive customer service with multiple channels available, though peak times can see delayed responses.
Deposits and withdrawals are generally straightforward and quick on Paybis, but fees associated with these processes might be higher than at other exchanges.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods including EUR transactions, but the options for other fiat currencies are limited.

Key features

Analysis tools

No trading tools, primarily a buying platform
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

Instant crypto purchases, fiat on/off ramps, Paybis wallet, educational resources
Staking, Blocktrade Earn program, advanced trading tools, fiat on/off ramps

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

Limited, primarily major cryptocurrencies
10+

User-friendliness

Paybis offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.
Blocktrade provides a straightforward and easy-to-use platform, ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Provides reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.
Provides decent value for money with competitive fees and a focus on European markets, making it a good choice for regional users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany
Germany, Austria, Switzerland, Slovenia, France

Best for

Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
Ideal for European investors looking for a reliable platform with competitive fees and a focus on security.

Base currencies available

USD, EUR, GBP
EUR, BTC

Account

Trading

Paybis provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.
Blocktrade offers a straightforward trading experience with a limited selection of cryptocurrencies. It focuses on security and ease of use, making it suitable for beginners.

Deposit and withdrawal

Paybis provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Blocktrade provides standard deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

Account opening process

Paybis offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.
Blocktrade’s account opening process is simple and fully digital. Users need to submit personal details and verify their identity. The process is quick and typically takes less than a day to complete.

KYC required?

No
No

Customer Service

Paybis offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.
Blocktrade provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

Paybis employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.
Blocktrade ensures security through 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As one of the experts here at our site, I’d like to highlight that Paybis is a solid choice for both new and seasoned cryptocurrency traders. Its user-friendly interface simplifies the trading process, making it accessible to everyone. While its fee structure could be more competitive, the range of payment options and exceptional customer service make it stand out. Whether you’re making your first cryptocurrency purchase or looking for a reliable platform for frequent trading, Paybis offers a secure and transparent environment to meet your needs.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert reviewer on our website, I highly recommend Blocktrade for traders seeking a secure and regulatory-compliant platform. Its strong adherence to European financial regulations ensures a secure trading environment, which is crucial given the volatile nature of cryptocurrencies. If you’re looking for a straightforward, reliable exchange with competitive fees and solid customer support, Blocktrade should definitely be on your radar.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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