What is Paybis Exchange?
Paybis is a UK-based cryptocurrency exchange that claims to have the best commission rates in the world. After investigating this, we found that the fees paid to Paybis for cryptocurrency transactions are very competitive with market rates, with the first transaction made by users completely free of Paybis charges.
Paybis also provides liquidity services for businesses looking to make cryptocurrency transactions, although for the moment they have one customer on their website and have plans to add more.
Offering 24/7 support and 47 fiat currencies, as well as holding licences for 48 US states, Paybis allows users to make payments from just about anywhere in the world with ease.
Paybis originally went live back in 2014, with a primary focus on providing holistic cryptocurrency trading services, as well as a seamless trading experience.
Standout Paybis Exchange Features
Large Global Coverage — The exchange has a global coverage of 180+ countries and 48 US States where you can buy or sell cryptocurrencies. It also has a licence from the FinCEN Department of the Treasury for US trading operations
Proven Cryptocurrency Support — Paybis supports BTC, ETH, LTC, USDT, XRP, BCH, XLM, BNB, and TRX for its cryptocurrency offerings
Multiple Payment Methods — You can use a Credit or Debit Card, Skrill, Neteller, Direct Bank Transfer, or Bitcoin. Many of the methods, besides credit or debit cards, generally stick to USD or EUR for their supported fiat currencies, so users should keep this in mind
Excellent Assortment of Tools — The platform features a Bitcoin calculator to measure the value of Bitcoin in real-time. However, this excludes any Paybis fees that occur in the purchase period. These fees will include the Credit or Debit Card fees, Paybis fees, the Bitcoin network fee, and withdrawal fees. Users can also easily compare rates offered by other platforms, such as Kraken, Bitfinex, or Binance as a point of comparison
Prices table — See the price of each of the available cryptocurrencies, which are updated in real-time, both in terms of price changes in USD or EUR form, and in percentage terms
Paybis Exchange: Pros and Cons
- Lots of different payment methods on offer for purchasing cryptocurrencies
- Good number of Trustpilot reviews for users to assess the platform
- Liquidity services for businesses looking to buy and sell crypto using APIs integration with the Paybis platform, such as banks, FinTech firms, trading platforms and payment processors
- Two-factor authentication for increased security
- Not too many advanced trading features for users who want to use margin or leverage
How to Sign Up to Paybis Exchange
Go to the Paybis website and click the “Sign Up” button on the top right corner of the screen.
Please note that in order to get access to all of the Paybis products, you will need to verify your account aside from this initial registration process.
This is a standard verification process that requires your proof of identity, which can be in the form of a passport, driver’s licence, ID card or a residence permit.
Once all of this has been successfully completed, you will have full access to all of the features of Paybis.
User Interface for Paybis Exchange
Paybis is a platform that has focused on simplicity and ease of use, allowing for a smooth, clutter-free website that is easy to navigate and designed in a way that puts a core emphasis on the functions.
However, finding information on specific fee costs and other important information can be difficult to find on the website, which requires a bit of digging to find.
Paybis has a news and blog section on their website that posts new content fairly frequently. Featuring guides and price analytics for a wide range of coins, the exchange has done a great job of providing its community with useful content and offering their perspective on the market.
Paybis currently has a fairly weak Twitter following of 1,905 followers for an exchange that has been around since 2014, with their last tweets going up in January of 2021.
On Facebook, they are not as active with posts, with the last post being on 18 February 2021 where they added a learn more button to their platform. Prior to this however, they last shared an update all the way back on 2 July 2020.
For TrustPilot, the exchange has much stronger numbers with over 11,000 reviews, with 82% of respondents rating the platform as “excellent”.
Paybis: In Summary
The Paybis exchange gives you the ability to buy and sell the 9 of the most well-established cryptocurrencies out there through a wide variety of banking options.
The exchange gives you a convenient way to buy and sell, and on the first transaction, there are no Paybis fees attached. While the company itself claims that they offer the best commission rates in the world, the fees can be a little high when you consider all of them added together (depending on the requirements of its users).
To start trading, once you have created a Bitcoin wallet, you need to select the payment option you want to use, select one of the available cryptocurrencies that you would like to purchase, enter the amount you would like to buy, and complete the transaction. This is a streamlined process that just about any new trader out there should have an easy grasp of, which is one of the main draws of the Paybis platform.
In terms of security features, Paybis offers two-factor authentication so you can secure your account. Paybis is also a non-custodial exchange, which means that you need to have a separate wallet in order to handle your private keys.
Paybis also offers an easy user interface and live price updates that makes this the perfect platform for people looking for a place to make their first cryptocurrency purchase.