Payeer Exchange Review
What is Payeer Exchange?
Payeer Exchange is a crypto platform registered in Estonia that has been around since 2019. It is, however, probably more known for being a payment and wallet solution. The company running the Payeer payment solution has been around for much longer, since 2012.
Payeer Exchange Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that Payeer’s trading platform is also mobile compatible. You can download it to/from both the AppStore and Google Play:
Payeer Exchange 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. The below is a picture of the trading view at Payeer Exchange:
Payeer Exchange has a referral program. The referral program has 6 different levels, meaning that you receive referral commissions even from your friend's friend's friend's friend's friend's friend! For the people you invite directly, you receive a 25% rev share of the fees generated from the transactions they make. For level 2, it's 15%, level 3 is 10%, and the levels thereafter 5%.
Payeer Exchange Fees
Payeer Exchange Trading fees
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. Takers are the people removing liquidity from the order book by accepting already placed orders. Makers are the ones placing those orders. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.
This exchange offers a low flat fee: 0.095% per trade. This is indeed a competitive fee. The industry average trading fee in the latest empirical study made was 0.213% for takers and 0.16% for makers, so 0.095% flat is way below average.
Payeer Exchange Withdrawal fees
Payeer Exchange charges 0.00065 BTC per BTC-withdrawal in withdrawal fees. This fee is quite in line with the global industry average and should not be considered a deterring factor in your choice of crypto trading platform.
Deposit Methods and US-investors
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
Payeer Exchange does not allow US-investors on its exchange. So if you’re from the US and would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List and use our exchange filters, you can sort the exchanges based on whether or not they accept US-investors.
The primary way you can purchase cryptos at this platform is via credit or debit card. Both VISA and MasterCard are accepted here.
You can also trade cryptos by depositing cryptos from another platform and using them at Payeer Exchange for making trades.