Paybis is one of many esteemed cryptocurrency trading platforms in the market. Originally set up in 2014, the firm has now expanded to vast international market space, with hundreds of thousands of customers within their reach.
Unlike many other platforms, Paybis gives users different mechanisms through which purchasing digital currencies is enabled. Buying a leading coin, such as Bitcoin, on this platform, can be done through cards and a variety of other leading payment methods as well. The corporation assists its clients with a 24/7 customer service apparatus that aims to improve the experience and guarantee security.
Paybis is one of the notable growth stories in the digital exchange market. The corporation was founded by a pool of professionals drawing talent from a multitude of vital fields, ranging from the tech sector to business. Their vision was to enhance the digital currency medium by making currency trading easier, more secure and more efficient. Although the founding team hailed from Latvia, the firm had centered its base of operations in the business-friendly environment of the United Kingdom.
Reports from reputed sources state that the platform has crossed 200,000 transactions since its inception.
Tools and features
As previously mentioned, the one aspect giving this platform its unique appeal is the multitude of payment channels that they offer. For anyone looking to acquire cryptocurrency, the payment options on the table range from Visa, Mastercard, bank wire transfers and the SEPA system.
Another vital component of the service that sets them apart from the rest, is their lucrative referral programs. The firm gives clients the chance to earn a higher share of profits by having referrals and by getting friends to sign up to the platform.
The corporation also has its eye out for beginners to the world of crypto, and those looking to absorb more knowledge about this bustling industry: It has an active blogging space linked to its main website, where regular posts and content related to cryptocurrency appear every few days or so. Apart from covering the essentials of the digital currency space, this blogging space serves as a hub for knowledge and growth for individuals learning about the sector.
Paybis’s registration process
There are multiple payment and registration packages to choose from. For a smooth and efficient sign up process, one could access the page through their Google or Facebook account.
The platform has a quick identity validation process, under which clients would need to submit valid ID as well as their address. This measure has been instated primarily as a means of preventing illicit activity on their platform.
There are three levels for verification. Under the first level, one would beed to submit their personal information and provide a copy of essential documents. Under the second level, one would also need to provide a selfie with one’s ID and a proof of address. The third level would require additional bank related documents.
Pricing and fees
The fee structure is based around the payment method that a client chooses. Every payment channel comes with a certain commission attached to it. The payment method that one chooses also influences the price of the digital currency that the client wants to acquire. The firm has a chart to guide customers through its pricing and fee structure.
The trading process
Before one begins trading on the platform, he or she would need to create a wallet for storing the currency. Unlike most other exchanges, Paybis declines to store your coins on their platform, instead advising its customers to create their own wallet for optimal security. After going through this step, one can begin trading on the platform. Prior to the transactions, the customer would need to opt into a specific channel of payment and then proceed. In general, a transaction on the platform takes no longer than a few minutes to follow through and appear on your wallet.
How good is Paybis’s support?
Paybis prides itself on its twenty-four-seven customer service and boasts one of the most impressive response timings on the market. A client can reach out to the platform through phone, through the mail, or through an integrated chat system on their site itself. Apart from this, the website had been put through extensive translations recently and is currently available in a range of languages as well. The firm claims that more languages are being added as well. However, the support systems operate only in English, Russian and Latvian.
One of the major positives on the security front is that the platform does not store digital currency on behalf of the client. Thus, the chances that a client could see their account or earnings damaged in a cyberattack are null. The platform also uses a stringent set of identity validation features that make the safety surrounding one’s account much stronger. The service also stores all its vital client information offline and not on its digital servers. Thus, the dangers of cyberspace and their influence on customers are quite negligent with Paybis, as compared to most other firms.
Pros and Cons
1) A large variety of payment channels to aid transactions
2) Most reviews on the web create a positive and reliable picture
3) Smaller transaction timings
1) Some of its commissions and fees are quite high
2) The service is unsupported in some areas of the United States.
- New York (NY)
- Connecticut (CT)
- New Mexico (NM)
- Washington (WA)
- Hawaii (HI)
- Alabama (AL)
- Vermont (VT)
- Florida (FL)
- Alaska (AK)
- Nevada (NV
Trading in Paybis could offer a major advantage for those looking to deal with the 9 cryptocurrencies it supports. The variety of payment methods, customer service, and security features boost the platform and its reliability. The higher fees could put some people off, along with the fact that the service is not as well known as frontrunners in the exchange market. All in all, the platform stands out from others in the crowd and does provide value for a specific niche of traders looking for what it offers. As for all online transactions, do your own due diligence.
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