Paybis Review

Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

Bottom line:

Paybis is a global cryptocurrency exchange that is designed for beginners that want to buy the major cryptocurrencies using a credit card. Paybis is a non-custodial exchange which means purchased digital assets are sent directly to an external wallet for added safety. Paybis has a good track record for customer support with a 4.4/5 star rating on Trustpilot. However, the fees are up to 4.95% per order for convenience which is expensive.

Paybis At A Glance

Paybis is a cryptocurrency online platform with offices in Glasgow (UK) and Riga (Latvia) that was founded in 2014 by its current CEO Innokenty Isers and CIO Konstantin Vasilenko. The exchange is available in 180 countries worldwide and comprises a team of 50+ individuals. Paybis has become a trusted and popular way for individuals in the USA, UK, and Europe to buy crypto with a credit card.

Notable features that we found on Paybis include:

• A registered crypto exchange that is supported in the United States
• Purchase crypto using 45 fiat currencies such as USD, EUR & GBP
• Variety of payment methods including debit/credit card, bank transfer, Skrill & Neteller
• A decentralized exchange that does not store customer funds
• 4.4/5 star rating based on 14,135 exchange reviews on Trustpilot

Exchange Name	Paybis
Fiat Currency	EUR, GBP, USD, AUD, CAD & 40+ others
Cryptocurrency	BTC, DOGE, ETH, BNB, USDT & 7 others
Payment Type	Credit card, debit card, bank transfer, Skrill, Neteller & Bitcoin
Trading Fee	0.1% & 1%
Deposit Fee	Credit/debit card up to 6.5%, bank transfer 0.2%, Skrill & Neteller 4%
Withdrawal Fee	Standard blockchain network fees
Mobile App	No

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Review of the Top Features on Paybis

Suited For Everyone

Paybis has been specifically designed to offer a fiat gate to the world of digital currencies such as Bitcoin, Ethereum, and XRP. The website features a simple and elegant user interface with packages to simplify the process. The overall trading experience of selecting a payment method and completing a crypto purchase can be done without any complicated options or distractions.

Zero Costs First Purchase

Customers who use a credit card to purchase Bitcoin for the first time will not be charged any fees by the exchange. Like the popular Crypto.com App which offers a similar incentive, removing the credit card fee on the first purchase is a great way to lower the cost of entry to get Bitcoins for new investors with minimal fees. A spread and other costs that are outside of Paybis control may still be incurred.

Accepted Payment Options

Individuals around the world can get started with Bitcoin and other digital coins using a variety of funding options. Regardless of the user's location, Paybis offers a safe and secure way to deposit funds using common payment services such as a credit/debit card, bank transfer, Skrill, Neteller and Bitcoin. According to the Paybis website, the most popular method to buy crypto is using debit/credit cards.

Non Custodial

In an age of cryptocurrency exchange hacks, Paybis is a non-custodial exchange that does not store any Bitcoin or other digital currency assets. Users can decide on how much Bitcoin to purchase, select the payment method and enter a wallet address to receive the funds directly to a cryptocurrency wallet without any intermediary and with zero risk of hackers stealing Bitcoins.

Getting Started

To buy crypto on Paybis, users will need to create an account by providing a valid email address and mobile phone number. Once that is submitted, an identity verification process is per international Know Your Customer (KYC) rules. A Government-issued International Passport or identity Card with proof of address document will be needed to complete the Paybis identity process. Individuals who use a credit or debit card will need to submit additional verification by taking a selfie with a handwritten declaration.

Supported Coins

There are currently 10 supported digital assets on Paybis that can be purchased directly using fiat currency. The available coins offered on the exchange include:

• Bitcoin (BTC)
• Ethereum (ETH)
• Doge (DOGE)
• Binance Coin (BNB)
• Tether (USDT)
• Ripple (XRP)
• Stella (XLM)
• Tron (TRX)
• Litecoin (LTC)
• Bitcoin Cash (BCH)

Compared to similar crypto exchanges such as Coinmama, OKCoin and Bitpanda, the selection of cryptocurrencies on Paybis is limited and could be expanded to include the other popular altcoins and DeFi tokens. However, the largest cryptos by market capitalization are supported.

Crypto investors can also sell Bitcoin back to fiat currency such as the US Dollar or Euro using Skrill or Neteller. GBP in addition to the USD and EUR can be cashed out by selling Bitcoin using a bank transfer on Paybis.

Payment & Limits

Paybis supports a variety of payment methods that will suit investors located around the globe to convert their local fiat currency into Bitcoin or other cryptocurrencies. The accepted payment methods include bank cards (VISA or Mastercard), bank transfer, Skrill, Neteller & Bitcoin. The most common payment method for small amounts is using a credit or debit card which is instant, safe and secure. Card purchases have a limit of up to USD 20,000 per week or a maximum of $50,000 for a month.

For large purchases, a bank transfer is the best method which takes between 1 and 3 business days to transfer. The is a limit of €200,000 per week or the equivalent amount in other fiat currencies such as GBP and USD which is reasonable. Paybis does not support payment methods such as PayPal, Amazon gift cards or ApplePay to buy crypto which doesn't offer flexibility for users around the world compared to other global platforms like Binance and Kraken.

User Interface

Once an account has been created, individuals can log in to Paybis and begin purchasing crypto. The default page is shown below which shows a widget to choose the payment currency, deposit method, amount to spend, and cryptocurrency to purchase. The overall flow and design are very basic and are quite suitable for beginners. Advanced users who prefer to see a price chart when making a purchase will need to use separate cryptocurrency charting software such as TradingView or Coinigy.

However, for most individuals who are looking to make a fast and secure purchase, the overall buying experience on Paybis is ideal due to its simplicity. There are no complicated menus, options, or distractions. Users can enter the amount of fiat currency to spend and will receive crypto directly to a nominated wallet address. Users can also view their transaction history to see previous orders that have been placed. The date of the transaction, the coin purchased and the payment method is shown.

A great feature on the Paybis website is the commission details of each trade are shown directly below the transaction. The deposit fees (which can vary depending on the payment method) and Paybis trading fees are displayed to provide full transparency.

The actual amount of Bitcoin received in a wallet is shown which can be verified in the receiving wallet. Some exchanges will have hidden fees or spreads that result in a lesser amount of Bitcoin being received. Paybis have taken the opposite approach to be 100% transparent on their fees and commissions.

Paybis Fees

Paybis charges a fee to provide its services which ranges between 0.99% and 4.95% depending on the payment method. The charges for each transaction include a service fee, Paybis commissions, spread and blockchain network costs.

The Paybis fee to buy crypto with a credit card is 2.49% plus a payment processing fee of USD 10 or equivalent in the buyer's currency. A percentage-based fee will be used for smaller transactions being 4.5% (USD, EUR, and GBP payments) or up to 6.5% for other currencies.

Payment Type	Fees
Credit/debit card	2.95%
Skrill	4.95%
Neteller	2.95%
Bank transfer	0.99%

As mentioned above, the payment cost, Paybis trading fee and blockchain transaction charge are shown below the order confirmation details for full transparency. In comparison to other fiat-to-crypto exchanges, the fees are reasonable however there are cheaper alternatives to use. For example, many of the larger crypto exchanges in the US do not charge a fee for bank transfers.

Customer Support

The Paybis team can be contacted directly via email or by asking questions using a live chatbot. There is also an extensive support center that includes numerous articles and frequently asked questions. The exchange has received a 4.4/5 star rating according to Trust Pilot reviews based on 14,135 user reviews and comments. 81% of comments from existing users on the trading platform, mobile app and customer service have been rated as excellent. This is a good reflection of the customer service for its new and existing users.

Security

Paybis is a non-custodial exchange that provides a platform to buy and sell Bitcoin and other digital currencies which are sent directly to the customer's hardware wallet. The exchange does not store or hold any customer funds which removes the risk of hackers.

Paybis accounts are secured with a password only and does not have 2 Factor Authentication which should be considered to protect personal details within the user profile. Overall, Paybis appears to be a safe exchange because of its decentralized design with no reported safety incidents or hacks according to our research.

Frequently Asked Questions

How We Rated Paybis

Review Category	Hedge With Crypto Rating
Features	3.4 / 5
Supported Fiat Currencies and Deposit Methods	4.5 / 5
Supported Cryptocurrencies and Trading Pairs	3 / 5
Fees	3.2 / 5
Ease of Use	4.5 / 5
Customer Support	4.5 / 5
Security Measures	4 / 5
Mobile App	2.5 / 5