Online, you are not going to have a difficult time finding multiple user Paybis reviews. This is one of the most popular cryptocurrency exchanges in Canada, the US, the EU, and many other regions. It offers users a rather wide range of features and benefits.
Having said that, though, Paybis also has a few notable concerns revolving around it, too - it’s part of the reason why many people are trying to figure out more information about the platform in question.
Worry not, however, since we’ll figure all of it out today, in this very article. I’ll tell you about the pros and cons of this particular exchange, discuss some of its usability aspects, check to see how fast and smooth the registration and account funding processes are, and also give my own personal opinion at the very end.
If you’re ready, let’s get right to the point!
Verdict at a Glance
Paybis is a cryptocurrency exchange known for its straightforward interface and beginner-friendly setup. The platform stands out with its wide range of payment options, reliable licensing in the US, and solid security measures, giving users peace of mind. On the upside, it’s easy to use and trusted globally. However, Paybis does come with some trade-offs. Its fiat-to-crypto fees are on the higher side, and the selection of supported cryptocurrencies is relatively limited.
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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.
Pros
- Very simple to use
- Multiple payment options
- A reliable, licensed exchange
- Good security
- 24/7 customer support
- No hidden fees
Cons
- Fewer cryptocurrency options
- Quite costly fiat payments
Table of Contents
- 1. Paybis Review: PROS
- 1.1. A Very Secure Cryptocurrency Exchange
- 1.2. Supported in Over 180 Countries
- 1.3. Around-the-Clock Customer Support
- 1.4. Fiat Payments - Accepted!
- 1.5. Crypto Affiliate Program
- 1.6. Simple-to-Use Interface
- 2. Paybis Review: CONS
- 2.1. High Fiat Payment Fees
- 2.2. Not the Widest Cryptocurrency Selection
- 3. How to Use Paybis?
- 3.1. How to Register on Paybis?
- 3.2. How to Purchase Cryptocurrency on Paybis?
- 4. Conclusions
Paybis Review: PROS
As per tradition, I’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.
📚 Related Reading: Best No-KYC Crypto Exchange
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 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 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 over 180 countries worldwide. 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 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.
📚 Read More: Cryptocurrency Regulation SEC
Luckily, Paybis resolved this, as it can now 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 also apply to various US states and territories.
You can find more information about all the restrictions on Paybis.
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 has 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’re 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 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), as well as the limited payment options, can be a significant barrier.[1] This is further facilitated by the fact that some exchanges, to this day, don’t allow you to purchase cryptocurrencies with fiat money.
In many cases, 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.
Fortunately, 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 straight answer - 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 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 is known for, you might find some 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 this exchange. The payouts should be timely and consistent - awesome!
Crypto Affiliate Program
While we’re on the topic of notable features, Paybis' Crypto Affiliate Program (formerly Paybis Crypto Widget) is definitely an interesting one. It allows you to create a personal shareable link for buying or selling crypto and earn 20% commission from every transaction made using that link.
So, basically, using the affiliate tool, you create a link. Every time someone uses your link, you begin earning. The best thing is, they remain linked to you for all future purchases.
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. You can monitor all your links, earnings, and transaction data in the Paybis affiliate portal.
This can be a great tool for freelancers, online content creators, and social media influencers because it simplifies the process of accepting crypto payments.
If you're familiar with the Paybis Crypto Widget, then you'd realize that this works a bit differently.
For starters, the Widget could be used to accept payments for your products, whether it be digital content, a ticket to an event, or anything else. Moreover, it could also 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 were limitless - whenever you want to receive or sell crypto, you could use this widget. It simplifies the payment process by supporting instant cross-border payments with over 60 crypto assets.
Your commissions accumulate, and each month (once you're above $50), you'll be paid via your chosen method.
By the way, it’s very easy to create an affiliate link. Here is how:
- Create and activate your Paybis affiliate account.
- Navigate to [Offers] in your dashboard's left-hand menu and select [All] to access and customize your unique tracking link.
- Share your tracking link (for example, via website, social media, channels, etc.) with your audience.
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 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. Many argue that ease-of-use is a key factor to improve public crypto adoption.[2]
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 who are bound to appreciate this the most will probably be those who have never used any exchange whatsoever.
The Paybis interface is very easy to use, and it makes the Bitcoin (or any other cryptocurrency) buying process very quick and seamless. Good stuff!
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.
Many Paybis reviews will tell you that the exchange's fees are definitely not the lowest.
When 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.
The good news is, you can always check the associated fees for your transaction before you finalize it.
On top of all of that, Paybis also has 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 150 currencies (including fiat) that you’ll be able to trade on the platform, including:
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 300-500 cryptocurrencies for their users' 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 to buy Bitcoin, Ethereum, or other popular assets, and aren’t really interested in too many alternative coins, then sure, 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.
Did you know?
All Crypto Exchanges may look similar to you but they're NOT all the same!
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.
Now, talk about a seamless registration process, huh? Wow, that was fast! Naturally, you should 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 redirects you to the exchange part of their site upon registration, we’ll take it from there.
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 to help you 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.
- Secure and reliable
- Accepts fiat currencies
- Lots of trading options
- Reputable exchange
- Accepts fiat currencies
- Offers various trading options
- Beginner-friendly
- Secure
- Decent trading and withdrawal fees
- Crypto.com Visa Card
- Automated tools & bots
- Ecosystem synergy with CRO
- Accepts fiat currencies
- Simple to use
- Supports only trusted cryptocurrencies
- A leading cryptocurrency exchange platform
- Best for all type investors
- Accepts fiat currencies
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 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.
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.
Scientific References
1. Kowalski L., Green W., Lilley S., Panourgias, N.: 'Lackluster Adoption of Cryptocurrencies as a Consumer Payment Method in the United States - Hypothesis: Is This Independent Technology in Need of a Brand, and What Kind?';
2. Sagheer N., Khan K.I., Fahd S., Mahmood S., Rashid T., Jamil H.: 'Factors Affecting Adaptability of Cryptocurrency: An Application of Technology Acceptance Model'.
About Article's Experts & Analysts
- + Very simple to use
- + Multiple payment options
- + A reliable, licensed exchange
- + Good security
- + 24/7 customer support
- + No hidden fees
- - Fewer cryptocurrency options
- - Quite costly fiat payments
A super-simple cryptocurrency exchange with a good and stable reputation.
Disclosure: To keep our site running & free of charge, we may sometimes receive a small commission if a reader decides to purchase services via some links on site, at no extra cost.
