paybis

Overview of paybis

Founded in 2014 and registered in the United Kingdom, paybis is a cryptocurrency exchange platform that extends its services to customers in over 180 countries, with a primary focus on the United States and the United Kingdom. Offering support for more than 150 cryptocurrencies and fiat currencies, Paybis stands out for its extensive array of payment methods. In addition to conventional options like credit and debit cards, users can conveniently acquire cryptocurrencies through digital payment systems such as Skrill and Neteller. However, that Paybis operates without regulatory oversight.

Pros and Cons

Security

Paybis implements various measures to protect user accounts and funds. The platform utilizes industry-standard security protocols, including SSL encryption, to ensure the confidentiality and integrity of user data during transmission. Paybis also employs strict identity verification procedures to prevent fraudulent activities and comply with anti-money laundering regulations. In terms of account security, Paybis implements measures such as two-factor authentication (2FA) to provide an additional layer of protection.

Paybis App

Paybis simplifies the process of purchasing Bitcoin directly from your smartphone through its user-friendly app, compatible with both Android and iOS devices.

How to Buy Cryptos？

In this step-by-step guide, we'll walk you through the process of purchasing cryptocurrency on Paybis.

Step 1: Create a Free Account

Visit the Paybis website or download the mobile app, then click on the “Sign Up” button. You will need to provide a valid email address and phone number and verify them.

Step 2: Complete KYC Process

Depending on your location and transaction details, complete a quick KYC process to verify your identity.

Step 3: Log in to Your Account

Log in to your Paybis account using the credentials you provided.

Step 4: Choose Fiat Currency and Cryptocurrency

Select the fiat currency you want to use for the purchase and the cryptocurrency you wish to buy. For example, you can buy Bitcoin with USD.

Step 5: Enter Transaction Details

Enter the desired amount of cryptocurrency you want to purchase.

Step 6: Select Wallet

Choose your preferred wallet to receive the purchased cryptocurrencies.

Step 7: Purchase it

Provide your credit card or debit card details. Alternatively, you can explore other payment methods like Apple Pay, Google Pay, Skrill, or PIX.

Fees

Paybis operates on a transparent fee structure, generating revenue through two primary fees: the Service Fee and the Network Fee.

• Service Fee

The Service Fee serves as Paybis' commission for facilitating transactions, encompassing operational costs like payment processing fees, infrastructure expenditures, and technological investments. Distinct payment methods incur varying costs, with the generally lower cost associated with bank transfers compared to alternative methods.

Paybis enforces a minimum Service Fee of 2 USD, ensuring coverage of operational costs. For smaller transactions, this fixed fee may represent a higher percentage than for larger transactions.

• Network Fee

The Network Fee, charged by miners for validating transactions on the blockchain, fluctuates based on market demand for the chosen cryptocurrency. This fee is uniform per transaction, applicable across all payment methods.

Payment Methods

Paybis offers users numerous payment methods, including credit/debit cards, bank transfers, and alternative payment providers (Skrill, Neteller), ensuring flexibility and convenience to buy crypto.

• Buy transactions

• Sell transactions

Paybis does not charge deposit or withdrawal fees. However, the network fee is always involved in transferring crypto coins. The time taken by an exchange to send or receive crypto coins depends on the payment method used by the traders while depositing or making a purchase. Transfers made through SEPA take 1-5 business days before the verification of the transaction. It does not take more than 6 days for Paybis to send coins through bank transfers.