Paybis Review

Jong-Chan Chung

Venture Manager at Blockchain Founders Group (BFG)

What features do you consider essential for a crypto exchange platform to truly stand out and offer value to novice traders?

A crypto exchange platform, be it a centralized exchange (CEX) or a decentralized exchange (DEX), should prioritize ease of use, education, security, and customer support to onboard new retail customers. However, I always tell novice traders to do your own research (DYOR) and to compare different options. In the long run and as you get more experienced, the following aspects should be considered as well: liquidity, type of tokens listed, mobile app availability (in case you are dining out but you get an alarm notification about a sudden and significant price change), regulatory compliance, and reliable partnerships with on- and off-ramping services with low transaction fees.

Paybis Review: PROS

As per tradition, we’ll start off by discussing the beneficial features of Paybis, and will also take a look at some of the positive user Paybis reviews found online.

Overall, the exchange possesses a rather positive reputation within the industry, in general. Most of the users of the platform are content with the vast majority of its features - at the center of these features lies the aspect of security.

A Very Secure Cryptocurrency Exchange

At this point in time, I probably don’t need to tell you that security is always going to be the most essential feature to look into when picking out the best cryptocurrency exchange for yourself.

These days, many exchanges are trying to wow their potential customers with a wide assortment of different features and flashy offers. Seemingly-unlimited trading options, hundreds (if not thousands) of crypto pairs, minimal KYC requirements that can be completed really quickly, and so on - all of these things don’t really matter, however, if the exchange lacks in the security department.

Think of it this way - if you get coerced into using an exchange simply because it offers some of the lowest fees on the market, and then lose all of your deposited funds because of a security breach, you probably aren’t going to care about the small fees in that case, are you?

Now, admittedly, most exchanges nowadays have some sort of insurance in place - if your funds DO get compromised, you’ll probably be refunded the full sum of the asset that’s affected, but that’s beside the point.

So, what does all of that have to do with this Paybis review? Rather simple, really - anyone questioning is Paybis safe should know that the platform in question is one of the most secure crypto exchanges in the current industry!

For starters, although this is a bit of a controversial topic, the exchange in question does enforce strict KYC regulations. In layman’s terms, this means that you will have to pass extensive identity verification steps before you can do any major moves on the platform - this is especially true when it comes to asset exchange.

One of the best features of the exchange is that users can decide where to store their cryptocurrency right at the time of transactions.

Unlike most other centralized crypto exchanges that default to a custodial crypto storage method and charge additionally when withdrawing away from the platform, Paybis allows users to choose if they want to store the crypto they purchase in the Paybis Wallet or in an external wallet.

The Paybis Wallet, too, is not the same as what you’d be used to seeing on other exchanges. This custodial wallet is fully on-chain. Meaning, users get a unique wallet address for each of their cryptocurrencies in their Paybis Wallets, and this balance (and transactions) can be fully tracked on any independent blockchain explorer.

In short, Paybis is definitely a reliable cryptocurrency exchange that offers some of the best security features for all of your trading wants and needs.

Supported in Over 180 Countries

As mentioned in the introductory part of the article, Paybis is operational in multiple countries around the world (over 180). This fact alone inherently brings some benefits, like being compliant in almost every country in the world and appropriate licenses and registrations that also help safeguard users’ funds, data, and privacy.

However, if you read through some older Paybis.com reviews online, you'll notice that this was not always the case.

In the past, Paybis was mostly a UK-based cryptocurrency exchange. So, it was not accessible for users from the US or various other countries. Being based outside of the US often means that the exchange is going to have to pass some SEC verifications in order to serve US-based customers.

If they don't, they can't provide services to US residents. It’s actually a problem that many overseas exchanges seem to face.

Luckily, Paybis resolved this, as it now can be accessed by users from Canada, the US, the EU, and many other regions. Though, note that there are some exceptions.

For example, if you are located in the states of New York, Louisiana, and Hawaii or Afghanistan, Belarus, Cuba, Iran, Iraq, Myanmar, North Korea, Russia, Somalia, South Sudan, Sudan, and Syria, you are not going to be able to utilize the features of the exchange. Some restrictions do also apply to various US states and territories.

You can find more information about all the restrictions on Paybis. 

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Around-the-Clock Customer Support

Customer support is probably one of the most underrated features when discussing cryptocurrency exchanges and the benefits that each of them have over one another. Well, that’s the case until you really look into it - or encounter a situation where you need some help, ASAP, but there’s no support to fix your issue.

It would seem that Paybis knows this rather well - this exchange provides you with live, 24/7 customer support.

This is a big deal! It means that you will be able to get in contact with the exchange’s customer support at any given point in time, no matter what issue it is that you’ll be facing. I can tell you from my own, personal experience - the support is very friendly and patient, and will help you with anything that you might need.

Fiat Payments - Accepted!

Now, this is definitely a huge feature - it’s obvious from the fact that it’s mentioned in most user Paybis reviews, too!

Paybis allows users to purchase cryptocurrencies via credit & debit cards, bank transfers, Revolut, and Google Pay, too. Additionally, Paybis supports Apple Pay - in other words, MacBook, iPad, and iPhone users are able to purchase cryptocurrencies with just a single click of a button! Without a doubt, this is some of the best news for any cryptocurrency enthusiast, especially one who’s just starting out.

If you’re a crypto newbie, the industry (and all of its jargon) can be really confusing. This is further facilitated by the fact that some exchanges, to this day, don’t allow you to purchase cryptocurrencies with fiat money - frankly, if you want to buy a specific crypto asset, you’d need to transfer some other crypto coin from another exchange or wallet, and use it to buy the aforementioned asset.

Confusing? Very. On top of that, it’s rather frustrating, too!

Paybis takes all of this hassle away - while you may not be able to purchase a specific coin with fiat money (it depends on the trading pairs available), you can be sure that the entire above-mentioned procedure can be done on the same platform.

On top of all of that, this does also help to answer the question is Paybis a scam or not, albeit in a pretty subtle manner. I'll give you a hint - IT'S NOT!

You see, many of the shadier exchanges out there don’t allow you to make fiat purchases, while the more-reliable options do. Now, I’m not saying that this is some sort of a golden rule or anything - it’s not. However, a pattern like that can still be observed.

That is usually the case because of the aforementioned KYC regulations. If an exchange does not have (m)any KYC identity verification requirements, it is less likely to support fiat payments, since there’s usually a lot of anonymity involved.

In some cases that’s a good thing, while in others - not so much. It all depends on your point of view.

As opposed to that, though, granted that Paybis does support fiat payments, it surely adds to the legitimacy of the exchange, and the company behind it. Naturally, there are far fewer people asking “is Paybis legit?”!

Speaking of fiat payments, while there are a few notable features that the platform in question is known for, you might find some customer Paybis reviews that mention “fast payouts”.

What are they referencing, exactly? Well, it would appear that Paybis has some great payout times when it comes to transfers made from the exchange to your bank account (or some other place of your choice).

This is great! It’s actually one of the more notable frustrations that some crypto enthusiasts seem to face - with many exchange platforms out there, your payment will go through super-fast, but once you want to take money out, good luck - it might take days, and in some cases, even weeks for your earnings to arrive in your bank account.

Well, I’m glad to be able to say it in this Paybis review - that’s not going to be the case with the exchange in question. The payouts should be timely and consistent - awesome!

Set Your Personal Crypto Widget

While we’re on the topic of notable features, the Paybis Crypto Widget is definitely a unique one. It allows you to create a personal shareable link for buying or selling crypto. The best part is that you earn 20% cashback from every transaction made using that link.

So, basically, using this tool, you create a request for a crypto transaction. Every time someone uses your link, you not only buy or sell crypto, but also earn additional income from that transaction.

There’s no cap on your earnings, so the more people use the link, the more you earn. The earnings are paid out regularly, creating an additional stream of income. Besides, you can create as many links as you want. All the links, earnings and transaction data can be monitored in the widget's Member Area.

The widget is a great tool for freelancers, online content creators, and social media influencers because it simplifies the process of accepting crypto payments.

What can the Paybis Crypto Widget be used for exactly? Well, a lot! For one, it can be used to accept payments for your products, whether it be digital content, a ticket to an event, or anything else. Moreover, it can be used for crowdfunding and donation purposes, accepting crypto tips, providing subscription services, creating loyalty programs for your user base, and whatnot.

In essence, the possibilities are limitless – whenever you want to receive or sell crypto, you can use this widget. It simplifies the payment process by supporting instant cross-border payments with over 60 crypto assets (and Paybis is working to add more).

By the way, it’s very easy to create your links via the Crypto Widget. You just need to choose the crypto and the fiat currency you want to use in the transaction, as well as the amount. Plus, you have to type in your wallet address (to which you want to receive crypto or from which you want the person to buy it); it can be either your Paybis wallet or any other external wallet.

Once you create the link, you need to share it with others. To avoid sending a broken link, make sure to test the generated link before sending it.

Now, it all sounds very nice and convenient, but what about the security aspect of this feature?

Well, as you already know, Paybis has been a trusted platform in the crypto world since 2014. It is PCI-DSS certified, which means all your data is stored securely. Also, Paybis claims that all its transactions are encrypted with the strictest confidentiality and industry standards. Therefore, it seems that you don’t have to worry about security when it comes to using the Crypto Widget.

Simple-to-Use Interface

Now, this is something that we’ll focus on in a bit more straightforward manner once we get to the actual registration process of the exchange, but it’s still something worth mentioning here, nonetheless.

Online, there are quite a few user Paybis.com reviews that talk about the simplicity of the UI of the exchange. So much so, that simplicity is seemingly the most praised aspect of Paybis, among those different reviews. After trying the site for yourself, chances are that you’ll understand what they mean pretty quickly - the platform is made to be both simple and functional to use, while utilizing and showcasing only the essential features and buttons.

It’s actually a very refreshing look (and feel), especially if you come from a background of using some of the more feature-filled exchanges (I’m looking at you, Binance). That said, the people that are bound to appreciate this the most will probably be those who have never used any exchange, whatsoever.

The Paybis interface is simple, straightforward, and fun to use, and it makes the Bitcoin (or any other cryptocurrency) buying process very quick and seamless. Good stuff!

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Paybis Review: CONS

Now that we’ve covered the main benefits that you can expect from using Paybis, let’s take a look at some of the less-than-ideal aspects of the exchange, and check to see what the user Paybis reviews that aren’t all that happy with their experience talk about the platform in question.

High Fiat Payment Fees

Fiat payments are definitely a beneficial feature for any and all crypto exchanges to possess - that’s obvious. However, sometimes, it might actually be worth looking for an alternative method of purchasing your desired crypto assets - this is especially true when it comes to the high fees that some exchanges have.

User Paybis reviews will tell you that, as far as this exchange is concerned, the fees are definitely not the lowest.

Purchasing cryptos with a credit or debit card, you will have to pay a minimum fee of $10, up to a transaction of $225. If you were to purchase crypto for more than $225, you'd be charged a 4.5% fee.

Not too bad? Well, yes - to an extent. However, as the sums increase, so do the fees. The great thing here, however, is that Paybis does not charge anything for your first credit or debit card exchange!

Other payment methods aren’t really a saving grace, either. They start from 3,99% for bank transfers, and finish off at 2.95% with Skrill.

Finding information on exchange fees is rather difficult, but it seems to lie in the range of 1% - 8.95%. That’s a significant margin, and it mostly depends on the payment method of choice.

On top of all of that, Paybis does also have its own “service fees”. All things considered, it would appear that it’s one of the more-expensive exchanges on the market, fee-wise. However, the additional features and reliability of the platform do seemingly make it worth paying the fees, for many individual crypto enthusiasts, at least.

Plus, you CAN lower the platform's fees using Paybis promo codes (unless you reside in the UK). You can get these codes during various holidays and special events, find them on Paybis social media posts, earn them by completing various tasks on the platform or by reaching the VIP status.

Not the Widest Cryptocurrency Selection

A single look at any of the user Paybis reviews online will quickly reveal that the exchange might not have the widest selection of crypto assets. However, the selection is still decent; there are over 80 assets that you’ll be able to trade on the platform, including:

• Bitcoin
• Bitcoin Cash
• Binance Coin
• Ethereum
• Litecoin
• NEO
• Stellar
• Tron
• XRP

As you can see from the list above, Paybis does allow you to trade most of the top-tier, best-known cryptocurrencies and then some.

Sure, if you were to look at some of the other major crypto exchanges out there, you’d quickly notice that they often offer around 500 cryptocurrencies for their user trading needs, with some having more than 1,000 at a time!

Having said that, though, this is also something that’s very case-dependent. I mean, it truly does depend on what it is that you want to trade, or which cryptocurrencies you want to hodl, in the first place.

If you’re only looking for a place where to buy Bitcoin, Ethereum or other popular assets, and aren’t really interested in too many alternative coins, then sure - user Paybis reviews will tell you that the platform will suit you perfectly, in this regard. However, if you’re actually looking to invest in some altcoins, well…. You might want to turn to some other exchange.

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How to Use Paybis?

At this point, we’ve covered all of the most-notable features and shortcomings of the Paybis cryptocurrency exchange. Before I let you go, though, the last thing we should do in this Paybis review is take a look at the registration process on the site, and also cover the actual crypto purchasing part, too.

How to Register on Paybis?

Taking it from the top, first, let’s register on the platform.

Step 1: Go to the Paybis official website, and press Sign Up.

Step 2: On the screen that pops up, you’ll be asked to enter your email address, and create a password.

Step 3: Once you do that, you will be redirected to the exchange part of the platform, and you’ll be able to start buying your desired cryptocurrency.

Now, talk about a seamless registration process, huh? Wow, that was fast! Naturally, you should expect requests to confirm your email and pass KYC verification processes in due time, but as far as the very initial registration is concerned, it literally takes no more than 30 seconds!

Truth be told, it has to be the fastest registration process that I’ve come across - and I’ve registered on and used many different crypto sites! Definitely some good news, as far as this Paybis review is concerned!

How to Purchase Cryptocurrency on Paybis?

Now that you’ve registered on the site, the next step is to start trading and buying your desired crypto assets. Since Paybis does redirect you to the exchange part of their site upon registration, we’ll take it from there.

Step 1: First of all, you should choose your payment methods by pressing the little arrow on the “You spend” section of the exchange screen. Here, you will be able to choose your desired payment method, and also the fiat currency that you’ll be charged for the transaction. Once done, enter the amount of money that you’d like to spend.

Step 2: Now, follow through with the same process in the “You receive” section, too. Here, you will have to pick the desired cryptocurrency that you’d like to purchase.

Step 3: Once you press Buy Bitcoin, you will be redirected to a separate page where you will then be asked to pass some KYC verification processes. These processes involve providing Paybis with proof of your identity, a selfie, and then your residential address, too.

Once that’s done, you will then be allowed to complete your transaction!

You know, I was skeptical at first, but I have to hand it to Paybis - they’ve streamlined the processes on their site to a T. Never have I used a more fluid and simplified crypto exchange!

Exploring the website even further (your account, the member area, etc.) simply reaffirms this notion, too. Every single page that you visit is made with the utmost simplicity in mind - you’ll never come across a section that would be cluttered with needless functions or stuffed with difficult-to-understand graphs and other pieces of information.

Admittedly, for some, this is going to be an issue - if you’re an advanced trader who needs some advanced tools in order to help them trade effectively, Paybis might not be for you. However, the exchange provides ideal conditions for beginners to simply hop in and out, carrying their newly-acquired cryptocurrencies with them.

Pros

• A very well-known crypto exchange platform
• More than 500 different cryptos available
• Two-factor authentication

Main Features

• Over 500 different cryptocurrencies available
• Strong security
• Small withdrawal fees

$600 WELCOME BONUS

Pros

• Very low trading fees
• Exceptional functionality
• Mobile trading app

Main Features

• Very competitive trading fees
• An intuitive mobile app
• Up to 100x leverage available

$30,000 IN REWARDS

Pros

• Secure and reliable
• Low fees
• A good amount of fiat currencies accepted

Main Features

• Reputable exchange
• Multiple fiat currencies are accepted
• Relatively low trading fees

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Conclusions

So, with all of that being said and done, is Paybis a good cryptocurrency exchange, and is it worth using, or at least trying out - or is Paybis a scam that needs to be avoided?

Well, one thing's for sure - the exchange is definitely NOT a scam. Let me put it this way - if you’re a beginner in the field of cryptocurrency trading, or have never even traded or bought cryptos, in general, then Paybis does appear to be an amazing starting point. However, if you’re already a professional trader, the platform doesn’t really have anything to offer to you.

Beginner user Paybis reviews speak about the simplicity and straightforwardness of the exchange, and the fact that you can do everything in a very swift manner, without spending too much time having to navigate through the site, searching for whatever it is that you might need.

Advanced traders, however, should take note of the high fees of the exchange (something that can be forgiven if you’re a beginner, granted the ease of use and hassle-free nature of the platform), the lack of crypto trading options, and the fact that the site might actually be TOO simple.

If you’re not too fond of Paybis, and the exchange hasn’t left a lasting impression on you, do check out our list of the best cryptocurrency exchanges in the current industry. Perhaps one of them is going to be a better choice for your own, specific crypto trading wants and needs?

All of that said, I thank you for reading, and wish you the best of luck!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.