Comparison of Paybis vs Luno [ 2024 ]

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

luno

Luno

  • Threenvest valuation: 3,6/5
  • US legal: Yes
  • Security: High 4,5/5
  • Mobile App: Yes
Go exchange

Main points

Fees

fluctuate

Earns

Yes

Customer service

3/5
≤0,10%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.7 – Reasonable fees with additional benefits for instant purchases.
3.8 – Reasonable fees with strong local support in emerging markets.

Level

fluctuate
≤0,10%

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.
Luno operates with a transparent and competitive commission structure that varies based on the type of transaction and the user’s activity level. For trading, Luno typically charges a tiered fee, which decreases as the user’s monthly trading volume increases, incentivizing high-frequency traders with lower rates. The fees for buying and selling cryptocurrencies are calculated either as a percentage of the transaction amount or as a flat rate, depending on the currency and payment method used. Deposit fees vary by payment method, with options like bank transfers often being free, while credit or debit card transactions may incur higher fees. Withdrawal fees also vary, generally depending on the network fees of the cryptocurrency being withdrawn and the urgency of the transaction. This fee structure is designed to be straightforward, allowing users to easily understand the costs associated with their trading and financial movements on the platform.

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.

Luno

luno
Go exchange
  • Year Founded: Since its inception in 2013, Luno has built a long-standing reputation in the cryptocurrency market. This longevity serves as a testament to its resilience and adaptability in the ever-evolving crypto landscape.
  • Security Methods: Luno prioritizes the security of its users' assets through robust security protocols, including state-of-the-art encryption and secure storage measures. These efforts ensure that users' investments are protected from external threats and vulnerabilities.
  • Possible Regulation: Luno’s commitment to regulatory compliance in each market it operates in reinforces its reputation as a trustworthy platform. By adhering to local financial regulations and guidelines, Luno provides a secure trading environment that aligns with legal standards.
  • Reputation and Reviews: The platform has garnered positive feedback from users globally, reflected in its favorable reviews across various consumer platforms. This positive reputation highlights user satisfaction with Luno's services and its effectiveness in meeting trader needs.
  • Trading Volume and Liquidity: Luno maintains a healthy trading volume and liquidity, ensuring that users can execute trades efficiently without significant price slippage. This reliability in trading performance makes Luno a preferred option for many traders looking to buy and sell cryptocurrencies.
  • Pros
  • User-friendly interface for beginners.
  • Strong security protocols enhance safety.
  • Supports a variety of cryptocurrencies.
  • Cons
  • Limited global reach.
  • Fewer advanced trading 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
Luno Pte Ltd.

Regulation

Regulated in the Reino Unido
Regulated in Singapur y Sudáfrica

Year founded

2014
2013

Founder

Innokenty Isers
Marcus Swanepoel

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Paybis FEATURES Luno
Paybis offers a flexible minimum trade amount, making it accessible for beginners to start trading without a significant initial investment.
Minimum Trade
Luno allows small minimum trades, making it accessible for beginners to start with lower amounts.
Paybis charges fees that are somewhat higher than some of its competitors, which might deter frequent traders seeking cost efficiency.
Trading and Transaction Fees
Luno’s fees are competitive but can vary by region and payment method, which may impact cost efficiency for some users.
While Paybis supports popular cryptocurrencies, its selection is limited compared to larger exchanges, impacting traders looking for variety.
Number of Cryptocurrencies
Luno offers a selection of the most popular cryptocurrencies but has a more limited range compared to larger exchanges.
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
Luno provides a few crypto-to-crypto trading pairs, focusing more on fiat to crypto transactions which limits trading strategies.
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 Luno website provides clear information on fees, policies, and company details, although some users may seek more depth in certain areas.
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
The Luno card effectively integrates with their service offering, providing convenience and accessibility for in-store purchases while also facilitating easy conversion from crypto to fiat. This feature enhances user experience by expanding the usability of cryptocurrencies in everyday life. However, availability may vary by region, which is why it doesn’t achieve a perfect score.
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
Luno excels in secure cryptocurrency storage solutions, offering integrated wallets with advanced security measures.
Explanation: Limited opportunities for staking or earning rewards on Paybis may deter users looking to profit from holding cryptocurrencies.
Staking and Rewards
Currently, Luno has limited options for staking and rewards, which could be an area for future development to enhance user returns.
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
Luno’s mobile app and desktop platform are highly user-friendly, offering intuitive navigation and robust functionality for all user levels.
Paybis is highly rated for its customer service, offering quick and helpful support through multiple channels.
Customer Service
Luno provides competent customer service with multiple channels for support, though response times can occasionally extend during high demand periods.
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
Deposits and withdrawals are generally smooth with Luno, supporting various methods, though some users might face delays depending on their region.

Key features

Analysis tools

No trading tools, primarily a buying platform
Basic charting tools

Mobile APP

No
No

Security

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

Additional features

Instant crypto purchases, fiat on/off ramps, Paybis wallet, educational resources
Savings wallets, fiat on/off ramps, staking, educational resources

Anonymity

Yes
No

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.
Luno offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

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 user-friendly platform, making it a good choice for beginners and emerging market users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany
South Africa, Nigeria, Indonesia, Malaysia, Europe

Best for

Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
Ideal for beginners and emerging market users looking for a user-friendly platform with competitive fees.

Base currencies available

USD, EUR, GBP
ZAR, NGN, MYR, IDR, 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.
Luno is a user-friendly exchange popular in emerging markets, offering easy fiat integration and a decent range of cryptocurrencies. It has competitive fees but lacks advanced trading tools.

Deposit and withdrawal

Paybis provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Luno is user-friendly, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

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.
Luno offers an easy and quick account registration process. Users need to provide personal information and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

No
Yes

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.
Luno offers support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users needing immediate help.

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.
Luno ensures security through 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, providing a secure environment for investors.

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 on our website, I recommend Luno for newcomers venturing into the world of cryptocurrencies. Its user-friendly interface and robust educational resources make it an excellent starting point. However, more experienced traders might find the platform’s limited advanced trading features and crypto-to-crypto pairs a bit restrictive. If you’re just getting started or prefer a straightforward, secure trading environment, Luno is a solid choice to consider.

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Read luno review

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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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