Paybis – Is It Good?
Paybis is a cryptocurrency exchange based in the United Kingdom with a variety of fiat and online payment options, including credit card. It also offers 24/7 support and fast and easy transactions for experienced traders and newbies.
What Does Paybis provide?
Established in 2014, Paybis has grown exponentially into an international marketplace serving almost a quarter of a million users. They’re quite active in social media and have an impressive 5 star rating from over 5 thousand users on TrustPilot.
Signing up is easy and can be done through your Google and Facebook accounts. However you will need to comply with their KYC requirements which include sending your ID and residence address to follow AML policies. However they claim to keep public information away from public servers in offline storage. The verification is quite fast and in around 15 minutes you can already start purchasing with your fully verified account.
The variety of payment options is quite impressive. As mentioned before you can pay with your credit card as well as your debit card, SEPA and bank transfers. They also give you options for Amazon gift cards, PerfectMoney, Skrill, Yandex and many more!
And if you want to earn a bit more money, you can take advantage of their referral program. With it you can make 10% profit after each transaction made by your referral. Their system is multi-layerd so you’ll also make money on the people your referral takes to the website. That’s probably the only multi-level marketing you want to get behind.
One of our favourite Paybis features is definitely their live 24/7 support. You can contact them through phone, Skype and email. Not only is it fast and always available but it’s so friendly that it got a 9.3 rating on a TrustPilot survey. That combined to its 5 star rating really gives you an idea of how well they treat their customers.
Paybis doesn’t store coins for you, so you’ll have to have your own cryptocurrency wallet. This may look like a flaw, but we always suggest keeping your wallet away from an exchange anyway to ensure maximum safety.
Paybis doesn’t provide services to the residents of certain US states, those being New York, Georgia, Connecticut, New Mexico, Washington and Hawaii, as well as some other countries due to international trade agreements.
However they do provide service to most of the world, including most of America, Asia, Europe and Africa. Paybis is also available in a growing amount of language, including Spanish, Italian, French and Portuguese.
Paybis Rates and Buying Limits
To get the best bang for your buck you always need to examine your platform’s fees. In the case of Paybis, the fees vary quite a lot with all of their payment options.
Paybis fee: from 0 to 10%
You can check a detailed list of their fees on their rates sheet. The credit card option is one of the most expensive at 5% + 5% + USD cents. PerfectMoney seems to be the best bang for your buck at 0.5% but even that is still a bit higher than average.
Your trading limits will also depend on your payment option and verification level. For credit and debit cards your limits will be $20,000 per week and $50,000 per month. Digital payments, like Advanced Cash, Perfect Money and others allow the largest amounts, with limits up to $500,000 per week.
- Lots of payment methods: The variety of options is pretty good and you can easily find one that fits you.
- Great reviews: Paybis has stellar TrustPilot reviews, something quite rare for an exchange.
- Amazing 24/7 support: If you ever encounter an inconvenience, their customer support team will be right there for you.
- High fees: With up to 10% fees, Paybis is definitely not one of the cheaper options, being average at best.
- Not fully supported in the US: Several states aren’t supported which would be a huge hassle for some US citizens.
- Few alt-coin options: Besides Bitcoin you’ll only be able to trade Bitcoin Cash, Ripple, Litecoin, Ethereum and Neo.
Go To Paybis
Is Paybis Good For Bitcoin?
As it usually happens, with Paybis you get amazing customer service and lots of purchasing options at a cost. In this case the cost is literal with their fees, average at best and excessive at worst. Besides the fees, we feel somewhat disappointed due to the lack of alt-coins and services offered.
However if you know how to navigate their fees or are simply looking for a quick and easy way to purchase Bitcoin, Paybis is a pretty solid (although somewhat expensive) option.