Paybis Review 2024

Autor

Revisor

Last update: 6 months ago

Our veredict

Paybis presents a robust choice for those looking to engage in cryptocurrency transactions, blending straightforward usability with effective security measures. The platform shines with its high levels of transparency, ensuring that users are well-informed about all transaction fees and processes. It boasts a supportive user interface that caters to both novice and experienced traders, facilitating ease of access and operation across various transactions.

However, Paybis does have its limitations, particularly in the range of cryptocurrencies available compared to larger exchanges. This could restrict users looking to trade in less common or newer digital currencies. Additionally, while the platform supports numerous payment methods enhancing accessibility, it might experience slower transaction speeds during peak times due to high user volume. Addressing these issues could enhance user experience and broaden its appeal, making it a more competitive option in the crowded market of cryptocurrency exchanges.

Pros

Cons

3,8

Threenvest Score

Fees

fluctuate

U.S Legal

Yes

With the confidence of Threenvest

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.

Best Crypto Exchanges

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About Paybis

Introduction

Paybis is a cryptocurrency exchange platform that aims to make digital currency accessible to everyone, providing a user-friendly experience for both novices and seasoned traders. Established with the mission of offering a straightforward, fast, and secure environment for trading cryptocurrencies, Paybis has garnered attention for its robust support and versatile service options.

What is Paybis?

Paybis is a digital currency exchange that allows users to buy, sell, and exchange a variety of cryptocurrencies easily and securely. The platform is designed to support a wide range of digital transactions and offers a variety of payment methods to accommodate users globally.

Background and History

Founded in 2014, Paybis has established itself as a reliable platform in the digital currency space. The exchange has evolved significantly since its inception, focusing on enhancing user experience and expanding its service offerings. It operates under strict compliance with international laws, which ensures a high level of security and trustworthiness.

Founders

The platform was co-founded by Innokenty Isers, Konstantin Vasilenko, and Arturs Markevics. Their combined expertise in technology, finance, and customer service has driven Paybis to become a well-respected name in the cryptocurrency exchange market.

Fun Facts and Interesting Insights

Paybis users come from over 180 countries, showcasing its global reach.
The platform supports over 50 fiat currencies, making it one of the most versatile exchanges in terms of payment options.
It has high customer satisfaction ratings, often praised for its user support and easy verification process.

Key Takeaways

Paybis isn’t just another cryptocurrency exchange; it’s a portal to the world of digital finance, offering tools and services designed to accommodate a global audience with diverse needs. Whether you’re a first-time buyer or a professional trader, Paybis offers a solid platform that combines security, ease of use, and a broad range of supported cryptocurrencies and payment methods.

Why Choose Paybis?

Accessibility and User Experience: Paybis stands out for its user-friendly interface, making it an excellent choice for beginners in the cryptocurrency space. The platform is designed to simplify the buying and selling process, offering step-by-step guides and a clear, navigable interface. This ease of use extends to their comprehensive support system, which helps users navigate their first transactions smoothly and effectively.

Security and Compliance: When it comes to security, Paybis takes robust measures to protect its users’ assets and personal information. The platform employs advanced security technologies such as SSL encryption, two-factor authentication, and cold storage of digital assets. Additionally, Paybis operates under strict compliance with international financial regulations, ensuring legal operations across multiple jurisdictions. This adherence to high security and regulatory standards makes Paybis a trustworthy platform for your cryptocurrency dealings.

Versatility and Support: Paybis supports a wide range of cryptocurrencies and payment methods, catering to a global user base. Whether you’re looking to trade major coins like Bitcoin and Ethereum or explore less common cryptocurrencies, Paybis provides the flexibility to suit various trading needs. Furthermore, their customer support is available 24/7, offering assistance in multiple languages, which underscores their commitment to customer satisfaction and accessibility.

Where it falls short

Limited Cryptocurrency Selection: One of the main drawbacks of Paybis is its relatively limited selection of cryptocurrencies. This restricts users who are interested in trading less mainstream coins or who want to explore emerging cryptocurrencies. To improve its appeal and cater to a broader audience, Paybis could benefit from expanding its list of supported cryptocurrencies. This expansion would not only attract a diverse user base but also keep the platform competitive with other exchanges that offer a wider array of options.

Transaction Speeds During Peak Times: Another area where Paybis could see improvement is in the handling of transaction speeds during peak trading times. Users have reported delays during these periods, which can be crucial for those looking to execute timely trades. To address this, Paybis could enhance their server capacity or optimize their software algorithms to handle higher volumes of transactions more efficiently. By ensuring faster and more reliable transaction times, Paybis would significantly enhance user satisfaction and trust in the platform.

Features	Explanation
Minimum Trade	Paybis offers a flexible minimum trade amount, making it accessible for beginners to start trading without a significant initial investment.
Trading and Transaction Fees	Paybis charges fees that are somewhat higher than some of its competitors, which might deter frequent traders seeking cost efficiency.
Number of Cryptocurrencies	While Paybis supports popular cryptocurrencies, its selection is limited compared to larger exchanges, impacting traders looking for variety.
Crypto-to-Crypto Trading Pairs	Paybis has a moderate range of crypto-to-crypto trading pairs, but it lacks the depth found on platforms specifically designed for experienced traders.
Website Transparency	The Paybis website provides clear information about fees and policies, although some users might seek more detailed data on security practices and fund storage.
Credit/Debit Card	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.
Storage Offering	Paybis provides secure storage options, but it doesn’t offer as many advanced features like insurance or multiple signature options as some larger platforms.
Staking and Rewards	Explanation: Limited opportunities for staking or earning rewards on Paybis may deter users looking to profit from holding cryptocurrencies.
Mobile App and Desktop	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.
Customer Service	Paybis is highly rated for its customer service, offering quick and helpful support through multiple channels.
Deposit and Withdraw	Deposits and withdrawals are generally straightforward and quick on Paybis, but fees associated with these processes might be higher than at other exchanges.

Xavier Tarrasó

EIP and Cryptocurrency Investor

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.

Fees

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.

Pros

Transparent Fees: Paybis clearly outlines its fees for each transaction type, which helps users avoid unexpected charges.
Competitive Rates for Some Methods: For certain payment methods like bank transfers, Paybis offers competitive commission rates compared to other platforms.
No Fee for Crypto-to-Crypto Trades: Paybis does not charge a commission for crypto-to-crypto exchanges, making it cost-effective for users trading within the digital asset space.

Cons

Trading Commissions

Paybis implements a tiered commission structure where the fees largely depend on the payment method and transaction size. For instance, credit and debit card purchases usually carry higher fees, often reaching up to 4-5%. This rate is above the industry average and can significantly impact the total cost of transactions, especially for small traders. In contrast, bank transfers and some e-wallet transactions might offer more favorable conditions, with fees sometimes as low as 1%.

Hidden and Other Fees

Beyond the explicit trading fees, Paybis users should be aware of several other potential costs:

Conversion Fees: If a transaction involves currency conversion, Paybis may charge a conversion fee. This is particularly relevant for users depositing fiat currencies that need conversion into cryptocurrencies.
Network Fees: Withdrawals from Paybis may incur network fees, which vary depending on the blockchain used for the transaction. These are not controlled by Paybis but are necessary for processing transactions on respective networks.
Deposit Fees: While Paybis promotes zero deposit fees for certain methods, some payment channels might still impose a fee, which Paybis passes on to the user.

Strategic Fee Reductions

For frequent traders, understanding and utilizing Paybis’s fee reduction strategies can result in significant savings. Increasing your trading volume or using preferred payment methods as recommended on their platform can lead to lower fees. Paybis occasionally offers promotions or loyalty discounts that can further reduce trading costs.

Contextual Analysis

In comparison to other major exchanges, Paybis’s fee structure is competitive when using optimal payment methods but can be on the higher end with credit cards and certain other options. Traders should compare these costs with potential benefits offered by Paybis, such as enhanced security measures, user-friendly interface, and exceptional customer service.

Conclusion

In conclusion, while Paybis offers a secure and user-friendly platform for trading cryptocurrencies, the cost-effectiveness of using the service can vary widely based on the chosen transaction method and frequency of trades. Potential users should carefully consider how the fee structure aligns with their trading habits and financial goals. Understanding the full scope of Paybis’s fees—not just the trading commissions but also the additional costs—will enable traders to make informed decisions and optimize their trading strategies accordingly.

Product selection

Paybis offers a diverse array of services and products to meet the varying needs of its users in the cryptocurrency market. The platform allows users to buy, sell, and exchange a wide range of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and many others, using various fiat currencies. This inclusivity supports both seasoned traders and newcomers to the crypto world. One of the standout features of Paybis is its ability to support multiple payment methods, including bank transfers, credit/debit cards, and some e-wallets, which provides flexibility and convenience for users across different countries. Additionally, Paybis emphasizes security and compliance, adhering to international regulations to ensure a safe trading environment. The exchange is particularly noted for its user-friendly interface that simplifies the navigation and transaction processes, making it accessible even for those who are new to cryptocurrency trading. Overall, Paybis’s commitment to providing a secure, convenient, and versatile trading platform makes it a solid choice for engaging with digital currencies.

Pros

Multiple Payment Options: Paybis supports a variety of payment methods including credit/debit cards, bank transfers, and several e-wallets, which enhances accessibility for users across different regions.
User-Friendly Interface: The platform is designed with a straightforward and intuitive interface, making it easy for both beginners and experienced traders to navigate and conduct transactions.
Strong Regulatory Compliance: Paybis adheres to international regulatory standards, providing a secure environment for trading and exchanges, which instills trust among its users.

Cons

Limited Range of Cryptocurrencies: Compared to other major exchanges, Paybis offers a more limited selection of cryptocurrencies, which might not satisfy traders looking to deal in less common or newer digital currencies.
Higher Fees for Certain Transactions: Some payment methods, particularly credit card transactions, come with higher fees, which could be a deterrent for users seeking cost-effective trading options.

Read more about product selection in Paybis

Paybis provides a comprehensive suite of services and products that cater to a wide array of cryptocurrency trading and investment needs. Here’s an extensive overview of what the platform offers, each explained in a way that’s easy to understand for those new to the world of cryptocurrencies:

1. Cryptocurrency Trading

Basic Spot Trading: Paybis allows users to buy and sell a variety of major cryptocurrencies directly using multiple fiat currencies.
Crypto-to-Crypto Trading: While more limited compared to other exchanges, Paybis supports several key crypto-to-crypto trading pairs.

2. Payment Options

Credit/Debit Cards: Users can purchase cryptocurrencies using their credit or debit cards.
Bank Transfers: This option often comes with lower fees and is suitable for larger transactions.
E-Wallets: Includes popular options like Skrill and Neteller for quick and convenient transactions.

3. High Security

Advanced Encryption: Ensures that user data and transactions are secure from unauthorized access.
Two-Factor Authentication (2FA): Adds an extra layer of security by requiring a second form of verification.

4. User Education

Guides and Tutorials: Provides resources to help new users understand how to navigate the platform and execute trades.
FAQ and Help Sections: Extensive support articles to assist users in troubleshooting or learning more about the services offered.

5. Mobile and Desktop Applications

Mobile App: Allows users to trade on the go with a user-friendly interface designed for mobile devices.
Desktop Platform: Offers a more comprehensive set of tools for detailed trading and analysis.

6. Customer Support

24/7 Availability: Ensures that users can get help whenever they need it, regardless of time zone.
Multiple Languages: Support is available in several languages, making it accessible to a global audience.

7. Regulatory Compliance

KYC Procedures: Paybis has a Know Your Customer process to prevent fraud and ensure the platform is not used for illegal activities.
AML Policies: Adheres to Anti-Money Laundering regulations to maintain the integrity of financial transactions.

8. Versatile Fiat Currency Support

Multiple Fiat Currencies: Supports transactions in over 50 fiat currencies, providing flexibility for users worldwide.

9. Special Features

Instant Buy and Sell: Offers quick buy and sell options for popular cryptocurrencies, facilitating speedy transactions.

Conclusion

Paybis presents a solid platform equipped with essential tools and services that cater to both beginner and experienced cryptocurrency enthusiasts. By integrating a mixture of user-friendly features, robust security measures, and educational resources, Paybis not only simplifies the entry into the crypto world but also enriches the trading experience, ensuring users can operate efficiently and securely within the platform.

Account opening

To open an account on Paybis, users begin by registering on the platform’s website, providing basic personal information such as name, email address, and phone number. After registration, users must complete a verification process, which typically involves submitting a government-issued ID and sometimes a proof of address to comply with KYC (Know Your Customer) regulations. This verification is crucial for ensuring the security and legality of transactions on the platform. Once verified, users can add funds to their accounts using one of the multiple payment methods available, such as bank transfers, credit cards, or e-wallets, and immediately begin buying or selling cryptocurrencies. The whole process is designed to be straightforward and fast, allowing users to quickly engage with the crypto market.

Pros

Speed and Efficiency: The account opening process at Paybis is quick and straightforward, allowing users to register and start trading in a short amount of time.
Minimal Information Required Initially: Paybis only requires basic personal information for the initial registration, making the first step easy and accessible for new users.
Multiple Verification Levels: Paybis offers tiered verification levels, which allows users to start with basic trading and increase their limits as they provide more documentation, offering flexibility based on individual needs and capacities.

Cons

Stringent Verification for Higher Limits: To access higher trading limits, users must undergo a more stringent verification process, which can be a barrier for those who wish to trade large volumes but are hesitant about sharing additional personal information.
Potential Delays: Although generally fast, the verification process can experience delays during high demand periods or for users in countries with less straightforward verification requirements, potentially postponing trading activities.

Read more about account opening in Paybis

When opening an account on Paybis, the process is designed to be straightforward and user-friendly, catering especially to those who are new to cryptocurrency trading. Here’s a detailed breakdown of each step:

How to Sign Up on Paybis

1. Creating an Account:

Visit the Paybis website and click on the “Sign Up” button.
Enter your email address, create a password, and agree to the terms of service.
An email will be sent to you; click the verification link to activate your account.

2. Completing KYC (Know Your Customer) Verification:

Once your account is active, log in and navigate to the account verification section.
You’ll need to provide personal information such as your full name, address, and date of birth.
Upload a government-issued ID (passport, driver’s license, or ID card) and possibly a proof of address document like a utility bill or bank statement.

3. Opening An Account:

After completing the KYC process, your account will be reviewed by Paybis compliance officers.
Once approved, you will have full access to your account and can begin trading.

How to Buy Your First Cryptocurrency

1. Depositing Funds:

Choose your preferred deposit method from options like bank transfer, credit card, or e-wallets.
Follow the instructions to safely deposit funds into your Paybis account.

2. Purchasing Cryptocurrency:

Navigate to the “Buy” section on the platform.
Select the cryptocurrency you wish to purchase and the fiat currency you will pay with.
Enter the amount of cryptocurrency you want to buy or the amount of fiat currency you want to spend.
Review the transaction details, including any fees that apply, and confirm your purchase.

Account Types

Paybis offers different account levels with varying features and limits: 1. Basic Account:

For new users with a verification level just sufficient to start trading.
Lower transaction limits.

2. Verified Account:

Requires additional documentation for higher transaction limits and access to more features.

3. Premium Account:

Offers the highest transaction limits and full feature access for advanced traders.

How to Use Paybis

Using Paybis involves navigating its trading platform to execute buy or sell orders, checking market prices, and managing your portfolio through a user-friendly dashboard.

Registration and KYC

The KYC process is integral to ensuring security and compliance with financial regulations, requiring users to verify their identity to prevent fraud and maintain the integrity of the trading environment. This step-by-step guide aims to equip newcomers with all the necessary information to get started smoothly and understand the comprehensive features Paybis offers, making their entry into cryptocurrency trading as informed and seamless as possible.

Security

Paybis places a high priority on security, ensuring a safe trading environment for its users through a multi-layered security strategy. The platform adheres to stringent international regulatory standards, which is reflected in its comprehensive compliance with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. For user data protection, Paybis employs SSL (Secure Socket Layer) encryption and requires two-factor authentication (2FA) for all transactions, providing an additional layer of security. Furthermore, a significant portion of digital assets is stored in cold wallets, which minimizes the risk of unauthorized access and cyber threats. This robust security framework demonstrates Paybis’s commitment to safeguarding user information and assets, making it a trusted choice for individuals seeking a secure cryptocurrency trading platform.

Pros

Robust Regulatory Compliance: Paybis adheres strictly to international financial regulations, including registration with FinCEN in the United States and compliance with anti-money laundering (AML) and know-your-customer (KYC) standards. This rigorous adherence to legal frameworks enhances user trust and security.
Advanced Security Technologies: The platform employs state-of-the-art security measures such as SSL encryption and two-factor authentication (2FA). Additionally, most user funds are stored in cold wallets, significantly reducing the risk of unauthorized access and hacking.
Transparent Security Practices: Paybis maintains a transparent approach to security, clearly outlining their measures and protocols on their platform. This transparency reassures users that their funds and personal information are handled with utmost care.

Cons

Limited Information on Specific Technologies: While Paybis asserts the use of advanced security measures, the platform could provide more detailed information about the specific technologies and methodologies they employ. This would offer tech-savvy users and security experts further assurance and insights into the platform’s security infrastructure.
Perceived Security Risks for Beginners: For new users unfamiliar with security protocols like two-factor authentication or the management of private keys, the initial setup and ongoing management of security settings can be daunting and potentially error-prone. More robust educational resources could help mitigate these risks.

Is Paybis Legit?

Paybis operates with a clear commitment to legality and compliance, adhering to strict international financial regulations. This includes registration with the Financial Crimes Enforcement Network (FinCEN) in the United States, ensuring operations are under constant scrutiny and comply with critical financial safety standards.

Regulation and Licensing

Paybis is fully licensed to operate as a cryptocurrency exchange. It adheres to the regulations set by financial authorities in multiple jurisdictions, which enhances its legitimacy and reliability. This regulatory compliance ensures that Paybis operates within the legal frameworks designed to protect users and their investments.

Is Paybis Safe?

Paybis employs multiple layers of security measures to ensure the safety of its user’s funds and personal information:

Secure Socket Layer (SSL) Encryption: This protects data integrity and privacy between client devices and Paybis servers.
Two-Factor Authentication (2FA): Adds an extra layer of security at login and for transaction confirmations, helping prevent unauthorized access.
Cold Storage: A significant portion of digital assets are held in cold storage, reducing the risk of hacking and theft.
Continuous Security Audits: Regular security audits by third-party companies ensure that the platform’s defenses are always up to date and effective.

Comprehensive Security Methods

Real-Time Monitoring: Paybis has implemented real-time monitoring systems that alert the security team of any suspicious activity.
Regular Updates: The platform regularly updates its security measures and protocols to guard against new threats and vulnerabilities.

Historical Security Record

Paybis boasts an excellent security record with no major incidents of breaches or losses due to hacks. This track record is a testament to the effectiveness of the security measures in place.

Is Paybis a Secure Crypto Exchange?

Yes, Paybis is a secure platform for cryptocurrency exchanges. Its comprehensive approach to security, combined with strict adherence to regulatory requirements, makes it a safe choice for users globally. The platform’s proactive stance on security, dedication to maintaining user trust, and transparent operations underline its commitment to providing a secure trading environment.

Conclusion

In conclusion, the meticulous attention to security details and regulatory compliance makes Paybis one of the more secure cryptocurrency exchanges available today. Users looking for a platform that balances ease of use with sophisticated security measures will find Paybis to be an excellent option. Whether you’re a novice or a seasoned trader, Paybis offers a secure environment that instills confidence and ensures safety for all transactions.

Customer service

Paybis excels in customer service with its highly responsive support team that is accessible 24/7 via multiple channels, including email, live chat, and a detailed FAQ section on their website. The platform takes pride in its ability to quickly resolve issues, providing multilingual support to cater to a global user base. Customer satisfaction is evidently a priority for Paybis, as evidenced by positive user feedback and high ratings on various review platforms. The company continuously works to enhance user experience, emphasizing the importance of reliable customer service in the often complex world of cryptocurrency trading.

Pros

Multilingual Support: Paybis offers customer support in multiple languages, which is a significant advantage for a global user base. This ensures that non-English speaking users can receive help in their native language, enhancing the overall customer experience.
24/7 Availability: The customer support team at Paybis is available around the clock, ensuring that users can get help whenever they need it, regardless of their time zone. This is particularly beneficial for addressing urgent issues that may arise during trading.
Comprehensive Resources: Paybis provides a wealth of resources including detailed FAQs, guides, and tutorials. These resources are designed to help users understand the platform's features and troubleshoot common issues independently, which can lead to faster resolutions and a more satisfying user experience.

Cons

No Phone Support: Paybis does not offer phone support, which might be a drawback for users who prefer or require direct verbal communication to resolve their issues or for discussing complex problems.
Response Times Can Vary: While Paybis generally provides quick responses through live chat or email, there are instances, especially during high demand periods, where users may experience delays. This variability can be frustrating for users needing immediate assistance.

Read more about customer service in Paybis

For the customer service section of Paybis, the platform offers a comprehensive support system to ensure users receive the assistance they need promptly and effectively. Here’s a detailed development of the customer support features and services provided by Paybis:

Customer Support Overview

1. Availability and Accessibility

Paybis provides 24/7 customer support to ensure users can get help at any time of day, accommodating global users across different time zones.
Support is accessible via multiple channels including live chat, email, and through their extensive FAQ section.

2. Reputation and Customer Feedback

The platform has garnered a positive reputation for its responsive and helpful customer service.
User reviews often highlight the efficiency of the support team and the platform’s ability to resolve issues quickly, contributing positively to customer satisfaction.

3. Contact Methods

Live Chat: Available directly on the website, offering instant assistance for urgent inquiries.
Email Support: For more detailed queries or issues that require thorough investigation.
Social Media: Active presence on platforms like Twitter and Facebook, providing another layer of support and interaction with users.

4. Response Time

The response time typically varies depending on the channel. Live chat responses are almost immediate, while emails may take a few hours to a day depending on the complexity of the issue.

5. Quality of Support

The support team is trained to handle a range of issues from simple queries about account setup to more complex issues related to transactions or security.
Support staff are knowledgeable not only about Paybis’s own platform but also about broader cryptocurrency topics and security practices.

What Users Need to Know

User Education

Paybis invests in user education through detailed articles, guides, and a well-maintained blog that covers relevant topics in the cryptocurrency space.
This proactive approach helps reduce the number of support tickets by empowering users with information to handle common issues themselves.

Potential Areas for Improvement

While the current support system is robust, expanding services to include phone support could enhance user experience, particularly for those who prefer or require verbal communication.
Continuing to improve response times during peak periods and ensuring consistency in the quality of responses across all support staff can further enhance user satisfaction.

Conclusion

Paybis’s customer support system is a crucial element of their service offering, designed to ensure a seamless and supportive user experience. With multiple contact methods, around-the-clock availability, and a focus on user education, Paybis demonstrates a strong commitment to customer satisfaction and trust. This comprehensive support system not only resolves issues efficiently but also enhances the overall reliability of the platform, making it a preferred choice for both new and experienced cryptocurrency users.

Is paybis Right for You?

1. Your Experience Level in Cryptocurrency Trading

Beginners and Casual Users: Paybis is especially well-suited for those new to cryptocurrency or casual traders due to its user-friendly interface and straightforward transaction process. The platform makes it easy to buy and sell cryptocurrencies with minimal hassle, providing extensive guides and customer support to help you through your trading journey.
Advanced Users: If you are an advanced trader looking for sophisticated trading tools and a wide range of altcoins, Paybis might feel limited. While it supports essential trading functionalities, it lacks advanced features such as futures, margin trading, and a diverse selection of lesser-known cryptocurrencies.

2. Preferred Payment Methods and Accessibility

Paybis supports a wide array of payment methods, including bank transfers, credit/debit cards, and several e-wallets, making it highly accessible regardless of your preferred transaction method. This is particularly beneficial if you value having multiple payment options or if certain methods are not readily available in your region. However, be mindful of the potentially higher transaction fees associated with certain methods like credit cards.

3. Priority on Security and Compliance

If security and legal compliance are your top priorities, Paybis could be an excellent choice. The platform adheres to rigorous international regulatory standards, offering robust security measures to protect user data and funds. This compliance ensures a secure trading environment, which is crucial if you are concerned about the safety of your investments and personal information.

By considering these factors, you can better assess whether Paybis aligns with your specific needs and expectations as a cryptocurrency trader. Whether you are just starting out or looking for a reliable platform to handle your transactions securely, Paybis offers a balanced mix of simplicity, security, and support.

Paybis compared to other crypto exchanges

Threenvest score

3,8

Fees

fluctuate

US Legal

Yes

Security

High 4,6/5

On the exhange website

Threenvest score

4,9

Fees

0,08%

US Legal

Yes

Security

High 4,9/5

bingx

Threenvest score

4,7

Fees

US Legal

Yes

Security

High 4,9/5

Available cryptocurrencies and countries available

Certainly! Here’s an initial overview of the cryptocurrencies and countries available on Paybis, as well as notable exclusions in both categories:

Available Cryptocurrencies on Paybis

Paybis supports a variety of the most popular cryptocurrencies, which ensures that users have access to some of the most widely traded digital assets in the market. Key cryptocurrencies available include:

Bitcoin (BTC): The first and most well-known cryptocurrency.
Ethereum (ETH): Known for its smart contract functionality.
Litecoin (LTC): Appreciated for its faster transaction times compared to Bitcoin.
Ripple (XRP): Popular for its digital payment protocol and rapid payment settlements.
Bitcoin Cash (BCH): A Bitcoin fork with an increased block size allowing faster transactions.

Notably Unavailable Cryptocurrencies

While Paybis covers many of the mainstream cryptocurrencies, it lacks a broader range of altcoins and some of the newer or niche cryptocurrencies that might be of interest to diverse crypto investors. Important cryptocurrencies not available include:

Chainlink (LINK): A decentralized oracle network that bridges between smart contracts and real-world data.
Cardano (ADA): Known for its proof-of-stake mechanism and strong focus on sustainability.
Polkadot (DOT): Aims to enable different blockchains to transfer messages and value in a trust-free fashion; promising interoperability solutions.

Available Countries

Paybis offers its services to a wide global audience, with availability in over 180 countries. This extensive reach makes it accessible to a vast number of users worldwide, providing opportunities for cryptocurrency trading across continents.

Important Country Restrictions

Despite its broad availability, Paybis does have restrictions in certain countries due to regulatory and compliance reasons. Significant countries where Paybis does not operate include:

United States: Due to stringent regulations and licensing requirements at both the federal and state levels.
China: Owing to the local bans on cryptocurrency trading and related activities.
North Korea and Iran: Due to international sanctions and regulatory restrictions.

This overview gives potential users a clear idea of what to expect in terms of geographic and cryptocurrency accessibility when considering Paybis as their trading platform. This information is crucial for making informed decisions, particularly for those located in or interested in trading specific cryptocurrencies that may not be supported on all platforms.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Ripple (XRP)
Bitcoin Cash (BCH)

Main countries where you can open an account

United Kingdom
Canada
Australia
Germany
France
Italy
Spain
Netherlands
Sweden
India
Japan
South Korea
Brazil
South Africa
Russia

FAQs

1. What types of payment methods does Paybis accept?

Paybis supports a variety of payment methods to accommodate users globally, including major credit/debit cards, bank transfers, and several e-wallets such as Skrill and Neteller. This makes it convenient for users to fund their accounts or withdraw funds in a method that’s accessible and efficient for them.

2. How long does it take to verify my account?

The account verification process at Paybis typically takes a few hours to complete. However, during periods of high demand, the process could extend up to 24 hours. Ensure that you provide clear and valid documentation to avoid any delays.

3. Are there any transaction limits on Paybis?

Yes, transaction limits on Paybis vary depending on your account’s verification level. Initially, unverified accounts have lower limits, which can be increased significantly by completing higher levels of KYC verification.

4. Can I trade cryptocurrencies on Paybis without verifying my identity?

To comply with regulatory requirements, Paybis requires users to verify their identity before they can engage in trading. This ensures a secure trading environment and helps to prevent fraudulent activities.

5. What fees does Paybis charge for transactions?

Paybis charges a transaction fee that varies depending on the payment method and the transaction type. Fees are typically higher for credit card transactions and lower for bank transfers. Detailed fee structures are transparently listed on the Paybis website to help users make informed decisions.

6. Is Paybis available worldwide?

Paybis services are available in over 180 countries, but there are exceptions due to regulatory restrictions. Users from countries like the United States, China, and a few others listed in their restricted countries list cannot open accounts on Paybis.

7. How does Paybis ensure the security of my transactions and personal data?

Paybis ensures the security of user data and transactions through SSL encryption, two-factor authentication, and by storing the majority of digital assets in cold storage. The platform also complies with GDPR and other regulatory standards to protect user information and provide a secure trading environment.

Final opinion on Paybis

At Threenvest, we aim to provide comprehensive and unbiased reviews of cryptocurrency exchanges to ensure our users can make well-informed decisions. Paybis emerges as a reliable platform that boasts a user-friendly interface ideal for those new to the world of cryptocurrencies. It excels in providing a straightforward buying and selling process, supported by an extensive range of payment methods which enhances its accessibility for users globally. While it might not offer the advanced trading features found in larger exchanges, its simplicity makes it a favored choice for beginners and intermediate traders.

However, it’s important to note that Paybis does have its limitations. The selection of cryptocurrencies is somewhat restricted, primarily catering to popular choices and not extending into lesser-known altcoins or the depth of trading pairs that might appeal to more experienced traders. Additionally, the transaction fees, particularly for credit card payments, can be on the higher side compared to industry leaders. Despite these drawbacks, Paybis’s strong commitment to security, compliance, and customer support ensures that it holds its ground as a trustworthy platform. In summary, while Paybis may not satisfy the needs of advanced traders seeking complex tools and a wide array of cryptocurrencies, it stands out as an excellent gateway for those entering the crypto space, offering a secure and easy-to-navigate environment recommended by Threenvest for users valuing simplicity and security.

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.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.