Is Paybis Legit? How efficient is it? Is there anything unique about it but you should look forward to? We are about to find out about that in our comprehensive review today. Without further ado let’s get right into it:
Name of the platform: Paybis
Official Website URL: https://paybis.com/
Overall Rating: (4.5 / 5)
Table of contents
- Is Paybis Legit?
- Which services does it offer?
- Which currencies are in the payment methods accepted by Paybis?
- Which fees can you expect to be charged on this platform?
- Which countries is this platform supported in?
- Are there any buying limits on this platform?
- Is Paybis Genuine or is it a scam?
- Pros and Cons
Is Paybis Legit? (What is it about?)
Paybis is a popular Bitcoin exchange platform that is based in the UK. The owners of the platform endeavour to make it a fast and responsive exchange platform in a bid to ensure that the customers find it. the platform, which was founded back in 2014, has its headquarters in Edinburgh. Beyond offering a user interface that is very intuitive, the platform also presents an satisfactory collection of cryptocurrencies that you can purchase.
Paybis is the brainchild of:
- Innokenty Isers
- Konstatin Vasilenko
- Arturs Markevics
The three founders have managed to push the company to more than 300,000 customers, which in my opinion is quite impressive.
Should Paybis, therefore be your go-to option? Keep reading to find out whether it actually is.
The services offered by Paybis
Paybis has a one page website on which you can access a wide variety of tools and information that you need to get started with the purchase of cryptos. Even the approach rates and fees are displayed in a manner that you can view easily.
The account signup process is rather fast since it can be done manually or even using our customers Facebook and Google logins. Paybis sticks to the AML and KYC laws, hence you will be required to validate your identity as you purchase the cryptocurrencies.
Every time you purchase your tokens, you will be required to confirm the purchase through a link that Is sent to your email, which I think is something that adds an extra level of security. Paybis is not a custodial service, hence you will need to get your external wallet to store the coins that you buy.
Which currencies are in the payment methods accepted by Paybis?
This platform Allows customers to access and use a decent range of both fiat and digital currencies as well as payment methods. So far the cryptocurrencies that it offers are:
- Bitcoin Cash
- Stellar Lumens
- Binance Coin
These are not as many as you we’ll find another well-developed bitcoin exchanges, but they may be more than enough for you depending on what your exchange objectives are. Paybis keeps on updating its list of cryptocurrency offerings, so you can check with them from time to time to see if they are supporting a coin that you are interested in. The fiat currencies supported by this platform are USD, GBP, EUR.
For the payment methods you should be ready with one of the following platforms:
- Credit card
- Debit card
- Advanced Cash
- Wire transfers
Which fees can you expect to be charged on this platform?
The fees that you incur may differ significantly based on the payment method that you use, but they will be made known to you right at the beginning of the buying process. The credit and debit card purchases usually attract a 10%, which in my opinion is quite expensive.
This platform has a 5% markup in addition to the normal fees that are charged for the card transactions. On the overall, I think the cheapest way that you can buy cryptocurrencies of this platform is through SEPA Euro Transfers that have a competitive fee of 1.5% of the amount that is being transacted. For the other payment methods, here at the face that you are bound to be charged:
- Skrill- +10%
- Payeer- 8.95%
- Neteller – +5%
- Advanced Cash – 4.95%
- USD Wire Transfer – 3%
Which countries is this platform supported in?
Despite being a global Bitcoin exchange platform, Paybis is still restricted in some countries. As much as they have indicated their website that they serve customers from every country, in reality you will find that things are a little bit different. Their services are for instance not available in some States in the US, such as Nevada, Florida and New York.
Based on the Fiat currencies that Paybis supports, we can tell that it is best suited for customers who are leaving the UK Europe and in the USA.
Are there any buying limits on this platform?
The buying limits will worry depending on the payment method that you use as well as how far you have gone with a verification of your identity. Paybis, however, who claims to offer very generous limits on cryptocurrencies. Credit card purchases for instance have a daily limit of $20000, and a monthly limit of $50000.
If you are ever want to do large purchases the best approach for you would be to rely on SEPA transfers, for which there is a $200,000 weekly limit, upon going through with the highest identity verification level.
Is Paybis Genuine or is it a Scam?
Paybis Happens to be one of the very few platforms that have a near-perfect score all consumer trust sites such as TrustPilot. On Trustpilot, this platform has a rating of (4.6/5) stars, based on more than 8000 customer reviews. This called me mainly as a result of the prompt responses that the support team gives to the customers. There was barely any dissatisfied customers on the various platforms that pertain to the nature of the services that are offered. There are some customers who are not very happy with the fee structure, but there is no doubt that this platform is offering reliable services.
Pros and cons
- It is easy to use and has an intuitive user interface
- Very impressive reputation on online consumer trust sites.
- It is regulated
- The fees are relatively high
- There are georestrictions
Final Words and Verdict
Verdict: Legit ( A good option who do not mind a limited collection of cryptocurrencies)
Overall Rating: (4.5 / 5)
Paybis is an impressive platform that I think is one that I would not mind recommending to those who just want to purchase cryptos with the intention of transferring them to their external wallets. If you, however, want to sign up for a platform that offers you all features that you need, including a safe wallet, then you cam have a look at look at my number one recommended alternative to Paybis.
Thank you for sticking through till the end of my review about whether Paybis is legit. I hope you enjoyed it and that you are now well aware of the benefits that you stand to gain by signing up for your account, or even using the recommended alternative ( depending on your needs).
Eric, Investor and blogger at Start Make Stop Waste!