US investors permitted
- New York
- New Mexico
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Paybis consists of four parts: general information, 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.
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 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. All the rates can be found here: https://paybis.com/rates/
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.
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a massive amount of valuable personally identifiable information. From names to addresses, to government identification details, taxpayer identification number and a lot more; and
- Exchanges handle of course a lot of cash or coin deposits and withdrawals.
Examples of successful hacks are countless. The most famous is probably the Mt.Gox-hack that left thousands of users without a penny (worth $450 million at that time and many times more today). But many other exchanges have faced similar outcomes. We don’t want your exchange – and specifically not your funds at the exchange – to be subject of a cyber-attack! Our security score is the result of testing the webpage of each exchange at Observatory by Mozilla (https://observatory.mozilla.org/) which has helped over 125,000 websites by teaching developers, system administrators, and security professionals how configure their sites safely and securely.
Paybis’s security score is B, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is far above average when it comes to top crypto exchanges. It could also be a factor making you conclude that Paybis is the best cryptocurrency exchange site for you.
There are only a few exchanges that – like the above exchange – receive Mozilla Observatory-scores of B or higher. The following list includes 9 other such exchanges with very impressive security scores: