Review: Paybis cryptocurrency exchange
Paybis is a quick and easy way to buy Bitcoin and several other cryptocurrencies with your credit card.
- Good for fast purchases of major cryptocurrencies using fiat currency
- Not so great for high fees when you buy with your credit card
Check out our full list of pros and cons or read on.
|Product Name||Paybis Cryptocurrency Exchange|
|Fiat Currencies||EUR, GBP, USD, AUD, CAD, PHP, SGD, CHF, HKD, JPY & 30+ more|
|Cryptocurrencies||BTC, ETH, LTC, XRP, BCH, XLM, BNB, NEO, TRX|
|Trading Fee||Fees vary|
|Deposit Fees||Fees vary|
|Withdrawal Fees||Fees vary|
What's in this guide?
- Which fiat and cryptocurrencies are supported?
- Which payment methods are accepted?
- What's it like to use Paybis?
- Fees and limits
- How fast will my funds be available?
- Is Paybis safe to use?
- How do I create an account at Paybis
- What else do I need to know about Paybis?
- In a nutshell
- Compare Paybis against other exchanges
- Frequently asked questions
Which fiat and cryptocurrencies are supported?
- Supported fiat currencies: EUR, GBP, USD, AUD, CAD, PHP, SGD, CHF, HKD, JPY & 30+ more
- Supported cryptocurrencies: 9 cryptocurrencies
Which payment methods are accepted?
- Bank transfer
- Credit card
What's it like to use Paybis?
Fees and limits
The fees below are accurate as of 17 January 2020.
Platform trading fees
|Buy Bitcoin with credit/debit card||5% + 5% +0.1 USD|
|Buy Bitcoin with Skrill||3.54% + 6.95% + 0.1 USD|
|Buy Bitcoin with Neteller||3.54% + 5.95% + 0.1 USD|
|Buy Bitcoin with Payeer||4.95% + 0.1 USD|
|Buy Bitcoin with Advanced Cash||3.95% + 0.1 USD|
|Buy Bitcoin via bank transfer EUR (SEPA)||1 EUR + 1.5% + 0.09 EUR|
|Buy Bitcoin via bank transfer USD (wire)||3% + 0.1 USD|
*Fees vary slightly based on the cryptocurrency being purchased.
|Sell Bitcoin to credit/debit card||3.8% + 2 USD|
|Sell Bitcoin to Skrill||1%|
|Sell Bitcoin to Neteller||3.95% + 2%|
|Sell Bitcoin to Payeer||0.45% + 1%|
|Sell Bitcoin to Advanced Cash||3.95%|
|Sell Bitcoin to EUR bank transfer (SEPA)||1.5% + 1 EUR|
|Sell Bitcoin to EUR bank transfer (wire))||1.5% + 45 EUR|
|Maximum purchase limit per transaction||US$20,000|
|Maximum purchase limit per month||US$50,000|
How fast will my funds be available?
The speed of your transaction varies depending on the payment method you use. If paying by credit or debit card, most transactions are completed within 15 minutes.
However, if paying by bank transfer, the transaction could take 1-5 business days.
Is Paybis safe to use?
- Regulation. Paybis is a legal entity registered in the UK. It is licensed in Estonia to provide virtual/fiat currency exchange services and offers a virtual currency wallet service. It's also registered as a Money Services Business with FinCen in the US.
- Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. Paybis has KYC and AML policies in place to help prevent illegal activity. Customers must undergo a verification process before using the platform and all transactions are monitored for signs of suspicious activity.
- Verification process. You'll need to complete a verification process before you can buy Bitcoin with a credit card on Paybis. You'll need to provide your name, address, date of birth and proof of ID.
- Security features. Unfortunately, Paybis does not support two-factor authentication for extra password security. However, this exchange platform doesn't actually store the cryptocurrency you buy, so you'll need to set up your own wallet separately. Check out our guide to the best cryptocurrency wallets for more info on choosing a wallet.
How do I create an account at Paybis
What else do I need to know about Paybis?
Paybis was founded in 2014. Its founders hail from Latvia, but the company is registered in the UK and has an office in Edinburgh.
Since its inception, Paybis claims to have helped more than 300,000 customers buy and sell cryptocurrency.
In a nutshell
- Offers quick and easy cryptocurrency purchases
- Several payment methods supported, including credit card payments
- Fees are outlined upfront
- 24/7 customer support available
- Doesn't support AUD
- Doesn't offer any advanced trading features
- High fees when you pay with a credit card
- Other exchanges support a wider range of cryptocurrencies
- Doesn't store cryptocurrency for you – you'll need to create a wallet elsewhere