Over the last few years, a relatively unpopular cryptocurrency exchange called Paybis has managed to become one of the most popular platforms to buy and sell crypto.
I have been using Paybis for over a year now, mainly to purchase Bitcoin using all different payment methods, such as Payeer and Skrill with very low fees. Little did I know then that they would evolve into the amazing platform they are today.
In this article, I have decided to give an honest review of Paybis, and explain why I am a long term user of the platform.
In more detail, here are the points I will talk about:
- Paybis service
- Supported payment methods and currencies
- ID verification process and transaction limits
- Supported countries
- Responsiveness / Support
- The buying process
So let’s get started.
Paybis allows users to exchange digital currencies and cryptocurrencies instantly, without going through complicated processes that take a long time.
Purchase cryptocurrencies with your bank card
You can use your credit or debit card to purchase any one of the listed cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Stellar Lumens (XLM)
- Binance Coin (BNB)
- Neo (NEO)
- Tron (TRX)
The platform is constantly adding more cryptocurrencies depending on their demand, and the transaction process takes approximately 10 minutes to complete.
Sell your Bitcoin with multiple payout options
If you have any Bitcoin and wish to sell it, you can explore all the different payout options that Paybis offers:
- Advanced Cash
- SEPA bank account
- WIRE bank account
- Direct credit/debit card transfer
Use e-money services to buy other digital assets
Finally, when using Paybis, you can exchange the funds of your favorite payment system into the following:
- Other payment systems (e.g. Payeer to Neteller exchange)
- Cryptocurrencies (e.g. Buy XRP with Neteller)
- Or simply withdraw the funds to your bank account
As you can probably tell, Paybis is not a simple crypto/crypto exchange. It is a website specially built to help people buy crypto and other digital currencies in a simple way. And that’s exactly why I started using it. Let’s talk about the different payment options in a bit more detail.
Supported payment methods and currencies
When you log into your Paybis account, you will be able to see all the payment methods on the left-side column, labeled as “You Spend”. These are:
- Bitcoin (BTC)
- Credit or debit card
- Advanced Cash
- Bank transfers EUR
- Bank transfers USD
There are not many services that allow users to buy crypto with such a wide array of payment methods. In fact, most FIAT to crypto exchanges only support bank transfers and only after waiting for several days before your ID is finally verified.
As for Paybis, the verification process is probably one of the things I love most!
ID verification and transaction limits
Let me start by saying that certain payment methods don’t even require ID verification up to a certain amount.
For example, you can use Payeer or Advanced Cash to buy Bitcoin for amounts up to $10,000 per year!
And if your transaction does require ID verification, the process usually takes less than 5 minutes to complete.
After talking with the support team, I realized that Paybis has a whole dedicated team that works around the clock to ensure that the verification process is completed as fast as possible!
And that’s just for the first time you make a certain transaction. All following orders won’t need verification and you complete your order even faster.
Finally, Paybis has some of the highest limits I have seen on exchange platforms, especially for verified accounts. Go ahead and check the limits of each payment method to better understand what I am talking about.
Paybis supports more than 180 countries from all over the world, for all their payment options. Some of the listed countries have very limited access to cryptocurrencies, which makes Paybis a great source to obtain your first Bitcoin.
That being said, there are a few countries that cannot perform purchases with their bank cards and a small selection of countries that are not allowed to use the service at all. This is true with all exchanges that comply with EU and US regulations, so no surprise there.
If you want to check the full list of restricted locations, take a look at this list.
Over the years, Paybis has managed to get thousands of positive reviews from its customers. When I first compared their Trustpilot score with other, more popular exchanges, I was surprised.
Not only do they score a lot better but there are also a lot of actual written reviews that point to the quality and efficiency of the customer support team. According to many users, this is the reason they choose Paybis over other exchanges every single time.
Paybis has a dedicated team of support agents that speak many different languages and are online at all times. That’s 24 hours, 7 days a week!
And since many people are still not experienced when it comes to Bitcoin transactions, this makes Paybis one of the most trusted platforms for beginners.
The buying process
Just to indicate how easy it is to make a transaction on Paybis, I decided to demonstrate the process for you, in a “step-by-step” fashion.
For this example, I will be buying Bitcoin using my credit card. Let’s get started:
Step 1: From the left column, select “Credit/Debit Card”. This option is usually preselected when you first visit the platform or log into your account.
Step 2: Select “Bitcoin (BTC)” from the column on the right, to indicate the payout option.
Step 3: Enter the amount you want to use to buy Bitcoin under “Amount you deposit”.
Step 4: Select your preferred currency.
Step 5: Start the transaction.
Now, at this point, if this is your first transaction, you will need to fill out a verification form. This is primarily done to ensure that you are the owner of your bank card and eliminates fraud. While I am not a big fan of ID verification, I do feel that this is a good security measure that should be implemented.
Step 6: Enter your Bitcoin wallet address. This is the address where Paybis will deliver your coins to.
Step 7: Fill in the form with your personal information, as well as a copy of your ID.
Once you enter all the information, tick the two checkboxes to indicate your compliance with our terms of service and press on “Continue”
You will now have to wait for Paybis to review your form. From reading existing reviews and from my personal experience, this process is very quick and takes less than 5 minutes to complete.
Once your card is verified, you will continue to a payment page.
Step 8: All you need to do there is add your card’s details and complete the payment by clicking on “Pay now”.
And that’s it. Within a few minutes, Paybis will receive your payment and send the BTC directly to your wallet.
This is an effective way to avoid exchange wallets and withdrawal processes. It also helps you save up on additional fees.
And that’s it, folks. This is my quick walkthrough on Paybis exchange.
Whether you like them or not, the platform has been working really hard to increase awareness for crypto. And this is something I admire and support.
If you have any further questions about the platform and their way of work, feel free to contact their support team. They are available via live chat (on the platform), email or phone.