A crypto exchange guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Paybis consists of four parts: general info, fees, deposit methods and security.
Paybis is a cryptocurrency exchange based in the United Kingdom. United Kingdom is the country which without a doubt has the most cryptocurrency exchanges in the world. At least that we know of. A non-exhaustive list of exchanges from the UK (in addition to this one) includes Exmo, CEX.io, CoinEgg, Livecoin, DSX, LocalTrade, Bittylicious (funny name by the way), CoinMate, Indacoin, MixCoins, Vaultoro, Instant Bitex and eToro.
This trading platform is not for people interested in the less established cryptocurrencies (Rebellious Coin, Centrality, Social Send Coin, Origami Network Token, The GCC Coin, or coins of roughly the same size). If you want to sell or buy any of those, you’ll have to choose another trading platform.
As its main features, Paybis promotes that it has 24/7 support, the world’s highest permited limits, instant payouts and that you can make payments from almost anywhere. 24/7 support is naturally very helpful. Instant payouts as well. That it’s available from almost anywhere, save or the restricted jurisdictions below, is also helpful. The “world’s highest permitted limits” feature is however flagrantly wrong. There are plenty of exchanges out there with substantially higher limits, and it is surprising that Paybis claims to not know this.
Paybis permits all US-investors to use their services save for investors who live in the following six states: New York, Georgia, Connecticut, New Mexico, Washington or Hawaii. With respect to other countries, as long as you are not from any of the following you can trade at Paybis: Afghanistan, Bosnia and Herzegovina, Cuba, Ethiopia, Iran, Iraq, North Korea, Lao People’s Democratic Republic, Sri Lanka, Sudan, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Uganda, Vanuatu, Yemen, Lebanon, Serbia, Algeria, Bangladesh, Bolivia, Cambodia, China, Kyrgyzstan, Macedonia, Nepal, Nigeria and Thailand.
If you’re from any of the above countries, then Paybis is not for you. You have to choose one of the other top crypto exchanges instead. Don’t be too sad though. There are many other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
Paybis Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. At this exchange, there is only an order box. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the purchase interface on the landing page at Paybis:
Paybis Trading fees
The trading fees at Paybis is different from the fee models at most other cryptocurrency exchanges. This is because there are different fees for each different payment method or deposit method you utilize. The relevant rates are set out in the below picture:
Paybis Withdrawal fees
We have not been able to find Paybis’s withdrawal fees. This is potentially a risk for you as an investor. However, presumably there are no withdrawal fees due to the way Paybis operates (but they are included in the main trading fee). In any event, we urge you to make your own analysis of the withdrawal fees at Paybis before depositing any funds there and before concluding that it is the best cryptocurrency exchange site for you.
At Paybis, you can deposit through both wire transfer and credit cards. You can essentially deposit in whatever way you can think of. Loads of deposit methods are available. This can be helpful especially for newer crypto investors.
One should generally look out for the different deposit fees charged by exchanges for deposit of fiat currencies via wire transfer or credit cards. While it might be indifferent to you whether you should deposit via wire transfer or credit card, fees can vary tremendously. Some exchanges charge a deposit fee of up to a staggering 11% for credit card deposits.
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. Paybis received a score of B in this test. This is a very good score, and actually better than 90% of all other cryptocurrency exchanges in our Cryptocurrency Exchange List.
There are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes a few other such exchanges with very impressive security scores: