Paybis Crypto Buying Guide
Paybis is an online exchange for trading, exchanging, buying and selling cryptocurrencies. It also provides liquidity services for fintech companies. You may also want to read about Buy Crypto From Saudi Arabia.
Paybis supports 10 cryptocurrencies: Binance Coin (BNB), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), NEO, Ripple (XRP), Stellar (XLM), Tron (TRX) and Tether (USDT).
Users can buy the supported cryptocurrencies with 47 major fiat currencies, and can also sell Bitcoin for euros or US dollars.
Paybis was founded in 2014 and is headquartered in the United Kingdom. It is regulated by the FCA, a leading UK financial regulator.
This guide walks through the platform’s features and how to use them, so you can get started with buying and exchanging cryptocurrency safely.
Paybis features
The main features of Paybis include:
- A fast and simple registration process.
- Support for buying and selling cryptocurrencies with ordinary fiat currencies.
- Multiple payment options, including credit card, debit card, bank transfers, Neteller and Skrill.
- An easy-to-use platform suited to beginner crypto investors.
- Compliance with both KYC and AML.
- Licensing and regulation by the FCA in the United Kingdom, with compliance for the European Union and the United States.
- Customer support with fast response times.
Registering with Paybis
To open an account, go to the main Paybis website and click the “Sign up” button, as shown below:
Then enter your email address and password as requested, tick the box to confirm you have read and agreed to the terms and conditions, click “I’m not a robot”, then “Register”. You can also sign in using Facebook or Google, as shown below.
Once registered, you are redirected to the Paybis platform. At this stage you need to complete verification, so go to the account drop-down menu, select “Verification”, then click “Start verification” to complete the process and access all Paybis services.
Once you are done, Paybis completes the verification, which takes a few minutes. When it is finished you receive an email notification, and the platform also notifies you on your Paybis verification page.
Depositing, buying and exchanging crypto on Paybis
After you finish registration and verification, you can make your first deposit easily, as shown in the image, and use the platform’s full offering.
At this stage you can buy cryptocurrencies or exchange Bitcoin you already hold for cash and fiat currencies such as the dollar and the euro.
You have the option to buy the supported cryptocurrencies with one of 47 fiat currencies. To make a purchase, go to the “Exchange” page, select your preferred payment method and currency, then click “Buy”. Enter the recipient details, complete the payment details with your card and click “Pay”. Once the payment is processed, you receive your funds in your external wallet, as shown below.
You can also view your “Transactions” page to check the status of your transaction. As mentioned earlier, Paybis gives investors access to some of the most popular cryptocurrencies on the market.
For now, investors can only sell Bitcoin for euros or US dollars on the Paybis exchange. For investors looking to buy or sell the cryptocurrencies the platform supports, Paybis Exchange provides what they need in an easy-to-use platform, and Paybis gives investors all the data needed to view every transaction transparently through your user interface.
Fees and charges on Paybis
Paybis has a transparent fee structure that varies by payment method. The platform charges fees after the user’s first credit or debit card transaction: the Paybis fee of 2.49% is taken after the first credit card transaction. The payment processing fees for all credit card transactions are:
- $10 USD, or usually the equivalent in the user’s currency.
- 5% for payments in US dollars, euros and pounds sterling.
- Up to 6.5% for other currencies.
All subsequent credit or debit card transactions in US dollars, pounds sterling and euros are charged at 6.99%, while the local-currency commission can rise to 8.99%.
A full breakdown of the fees is provided when you buy or sell cryptocurrencies through the supported Paybis exchange. When you enter the fiat amount and payment method, you are shown the cryptocurrency equivalent and the fee details, as shown below.
When you select the cryptocurrency, the amount you want to sell, the fiat currency you want to receive and the payment method, you receive the current cash equivalent. In the example above, we chose to sell Bitcoin for euros.
The exchange-rate fee is the fee charged by your bank to convert your bank account’s currency into euros, US dollars or pounds sterling. This exchange fee is set by your card issuer in your country.
Wallets and buy/sell options on Paybis
At present, Paybis does not provide users with pre-funded fiat and cryptocurrency wallets for buying or selling. Instead, you need to open wallets, as shown below, through the platform for the cryptocurrencies Paybis supports.
The wallets are then created easily and appear in the user interface, as shown below.
For investors buying with ordinary money such as dollars and euros, Paybis offers several payment methods. The payment methods for buying crypto include:
- Credit or debit card
- Bank transfer
- Neteller
- Skrill
For investors looking to sell cryptocurrencies they already own, Paybis only supports selling Bitcoin, which users can exchange for euros or US dollars through all the payment methods the platform supports.
To make a purchase, go to the “Exchange” page and select the payment method, for example a credit or debit card in euros, from the “You spend” drop-down. Then enter the euro amount you want to spend, select the cryptocurrency from the “You receive” drop-down and click “Buy”.
Then enter your cryptocurrency wallet address to receive your coins and click “Continue”. Enter your card details, including the card number, expiry date and CVV, then click “Pay”. Review the payment details and complete the transaction. Selling Bitcoin works the same way, except you choose to sell instead of buy.
The Paybis crypto exchange platform
Paybis offers investors a simple platform for buying the supported cryptocurrencies with ordinary money and selling Bitcoin. All purchased cryptocurrencies are automatically transferred to the compatible wallet addresses available at the time of purchase.
Investors can buy one of 10 cryptocurrencies supported by Paybis with one of 47 supported fiat currencies. Available payment methods include credit or debit card, bank transfer, Neteller and Skrill.
For exchanges, the platform is a multi-currency exchange where investors can buy cryptocurrencies with ordinary currencies or sell Bitcoin for euros or US dollars.
Fees vary by the payment method chosen. Paybis has transparent fee structures and provides a detailed breakdown of the fees for each individual purchase or sale. The main features of Paybis Exchange include:
Exchange: a cryptocurrency exchange platform that lets users exchange Bitcoin for ordinary currencies, or cryptocurrencies for the supported cryptocurrencies.
Tools and prices: users can also buy cryptocurrencies with ordinary currencies or sell Bitcoin for euros or US dollars from the main Paybis page. Just go to the “Tools” drop-down and select “Prices”.
User history: users can view transactions on the “Transactions” page. Here Paybis users can set a specific date range and transaction status. Users can also filter by “money service” type, such as bank transfer or Bitcoin-related.
Platform transactions: users can also view all transactions made across the Paybis network over the past 24 hours, found on the main Paybis page.
Prices: view cryptocurrency prices in euros or US dollars, with quick links available to buy cryptocurrencies and buy and sell Bitcoin.
Crypto converter: here users can use the cryptocurrency converter to calculate the value of a specific amount of cryptocurrency in one of 47 supported fiat currencies.
Buy: Paybis users can buy one of 10 supported cryptocurrencies by credit or debit card, bank transfer, Neteller or Skrill.
Sell: Bitcoin holders can also sell it on Paybis Exchange for euros or US dollars, and sale proceeds can be transferred by bank transfer, Neteller or Skrill.
Paybis also runs a Referrals & Affiliates program. By joining, users can earn 20% of the profit from each successful purchase. Paybis increases referral commissions to 30% and more once users bring in new customers over time.
Security and customer support on Paybis
Paybis is an exchange regulated by the UK Financial Conduct Authority (FCA) and is required to comply with AML and KYC protocols, so user information is protected accordingly. In addition, Paybis does not hold customer assets on the exchange, which removes the risk of theft.
On regulatory compliance, in addition to being subject to the FCA, Paybis is also compliant with the European Union and the United States.
Paybis provides customer support around the clock, seven days a week, and users can reach support via live chat 24 hours a day.
Just click the “Live chat” icon at the bottom right of your Paybis page, enter your name and email, and click the continue icon to start chatting with a member of the customer support team.
Conclusion
Paybis is a regulated and licensed exchange that gives cryptocurrency investors access to some of the most popular cryptocurrencies on the market today. While it supports only 10 cryptocurrencies, users can buy them with 47 ordinary currencies.
The platform is easy to use and serves even beginner crypto investors. Its transparent fees and appropriate KYC/AML requirements are also positives for anyone looking for a reliable, regulated platform.
The simple and fast registration and verification process is an added positive for those looking for an easy-to-use platform to start their crypto investing journey.
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Frequently asked questions
How long does it take to receive my funds on Paybis?
While the transaction itself takes only a few minutes to complete, your bank’s processing times determine when the funds are added to your account, which usually takes between one and 5 business days.
Do I need to verify my Paybis account before placing a new order?
For full access to all currency types, you will need to verify your account. In some cases you can complete your exchange without completing verification.
What is the fastest way to buy Bitcoin?
A credit or debit card is the fastest way to buy Bitcoin on Paybis. The first transaction usually takes up to 15 minutes, depending on whether your KYC identity check was approved automatically, correct personal details, high-quality ID images, and not using TOR browsers or a VPN. Transactions after that usually take only 5 minutes.
Can I exchange Bitcoin Cash anonymously?
Unfortunately not. Although Bitcoin Cash itself is described as an anonymous cryptocurrency, Paybis requires its customers to identify themselves in order to comply with international AML requirements.
How can I secure my Paybis account?
Choose a random, strong password and remember it well. If you lose it, you can always recover the password by email.
Which countries do Paybis services support?
Paybis supports more than 180 countries around the world, so you are likely to be able to make a transaction from anywhere.
Disclaimer: This article is for educational purposes only and is not investment advice. Cryptocurrency trading and CFDs carry a high level of risk, including the risk of losing more than your initial deposit due to leverage. Do your own research and only invest what you can afford to lose. Easy Trade may earn a commission from some of the providers mentioned in this article at no extra cost to you.
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