See the answers to these questions now. I give you the answers and compare Paybis to other exchanges. So check out this Paybis review now.
This review has been updated in 2021 and contains all of the timely information you need to know. So if you’re looking to buy bitcoin, ethereum, or some other cryptocurrency, you’ve come to the right place.
If Paybis exchange is your personalized recommendation from my website homepage and you’re in a hurry, here’s the link to PayBis. Otherwise, keep on reading to find out all of the important details about this British exchange.
Disclosure: this page has affiliate links that may make me money. But the content is objective and trustworthy.
Summary Of This Paybis Review
In terms of customer reviews, Paybis is the best cryptocurrency exchange. On top of that, it has fast customer support. It’s faster than the customer support of every other exchange I’ve tried. Plus, it’s fast in every other way, including verification. So it’s better than most bitcoin exchanges which are very slow. The only disadvantage is the credit and debit card fees, which are relatively high. But the first transaction you’ll make will be free from Paybis fee. Plus, you can use a bank transfer, which is the cheapest payment method with competitive pricing. You can find out more about payment methods and fees in the next section of this comprehensive Paybis review. Or you can open an account now.
|Ease Of Use|
Paybis FeesI've updated this section in 2021. So it contains all of the timely information about Paybis fees you need to know.
First transaction carries no Paybis fee. You have to pay only the cryptocurrency network fee and in some cases the fee charged by the middleman financial organization. But those fees are fairly small most of the time. So it may be a good idea to make at least one cryptocurrency purchase on Paybis.
Card fees in the table below don't include the fee your bank may charge. Your bank may charge you a 5% cash advance fee for a credit card cryptocurrency purchase. Debit card purchases are free from this fee.
Aside from the cash advance fee, the fees below include all of the fees you'll incur when making a transaction.
|Credit & Debit Cards||Paybis fee: 2.49%|
Payment processing fee:
10 USD or 4.5% for USD, EUR, and GBP currencies
(up to 6.5% for other currencies)
Cryptocurrency network fee
|Bank Transfer||Paybis fee: 0.99%|
Payment processing fee: 2 EUR/GBP/USD
Cryptocurrency network fee
|Skrill||Paybis fee: 4.95% |
Skrill fee: 3.59%
Cryptocurrency network fee
|Neteller||Paybis fee: 2.95%|
Neteller fee: 3.59%
Cryptocurrency network fee
As you can see from the table above, the bank transfer fee is low, while the card fee is higher. In short, Paybis fees are reasonable. Now you know about Paybis fees. But there’s other important information you need to know. So please continue reading this Paybis review to find out other important information.
Is Paybis Legit?
Some people ask whether Paybis is legit. The answer is simple: Paybis is definitely legit. It’s definitely not a scam. It’s a legitimate company that was founded in 2014 by Konstantin Vasilenko and Innokenty Isers. Paybis headquarters are in the United Kingdom and its address is prominently displayed on its website. Likewise, the photo of its founders and employees can be found on its website; it’s below.
Paybis is registered as a money service business in the USA. US government agency, Financial Crimes Enforcement Network (FinCEN), recognized Paybis as a money service business on September 21st, 2020. My search of the official US government website for Paybis registration number (31000175037491) yielded me that information. In short, I think that Paybis is a serious business that complies with government regulations.
Furthermore, Paybis exchange has many excellent user reviews. These reviews come from a few different websites. Below I explain the process I used to check whether they were written by real people.
Most of BitcoinTalk forum users said good things about Paybis. I made sure they were real people by going through the latest posts of each of them. I checked whether they mentioned Paybis more than once. Only one of them mentioned Paybis more than once. However, this user made many other posts. He also recommended another exchange besides Paybis in his posts. Therefore, it’s unlikely that this user is a shill.
The same holds true for Trustpilot reviews. They’re legitimate. Reviews from other platforms are likewise stellar.
For all of the above reasons, Paybis is safe and legitimate.
2 US States Where PayBis Is Unavailable
Paybis blocks residents of Hawaii and New York. If you live in Hawaii, you can use BitQuick, which is a good Paybis alternative. Real people wrote good reviews about it. The only drawback is that BitQuick accepts only cash deposits. Another Paybis alternative is CEX.IO. It accepts both cards and bank transfers.
Is Paybis A Wallet?
Some people ask whether Paybis is a wallet. The answer is simple: it’s not a wallet, it’s an exchange. So it doesn’t store cryptocurrency.
Paybis sends cryptocurrency to your own wallet. So that’s a good thing Paybis doesn’t store cryptocurrency because you don’t incur the risks of online wallet, which is the riskiest type of cryptocurrency wallet. Instead, you can store your cryptocurrency in the safest type of cryptocurrency wallet: a hardware wallet. Cryptocurrency experts recommend it because it’s much more secure than an online wallet and because it’s offline when not in use. This one is the best hardware wallet. So please check out my favorite hardware wallet now. Please see how affordable it is right now.
Be vigilant when buying a hardware wallet. Some third party sellers sold people pre-configured scam wallets. These scam wallets allowed them to steal unsuspecting people’s crypto assets. Only the wallet manufacturer website can be trusted. So please visit and bookmark this link right now because it’s the official manufacturer website.
Does Paybis Require ID Verification?
Paybis does require ID verification. It does so to comply with government regulations. However, Paybis ID verification process is a breeze. It takes only about 15 minutes and is easy to do.
You must submit your ID and record a video of yourself (about a few seconds). In that video, you must position your face in the frame and move your head in a circle, whistling and standing on one foot while raising your eyebrows. Then you must scream as loud as you can while spitting.
You probably figured I was joking. You’re right. That short video recording requires only the movement of your head. Plus, the other parts of registration are easy as well. You can easy how easy it is in the video below.
What Are The Customer Complaints Against Paybis?
Some people have complained that Paybis blocks proxies, VPNs, and Tor browser. But most exchanges don’t allow them either. That’s because black hat hackers often use them to anonymize their online activity. Though law-abiding people use them too, the exchanges are wary of them because the black hat hackers use them for anonymity.
The vast majority of Paybis customer reviews are positive. There’s only a small number of negative customer reviews against Paybis. Most of them center around high fees and have been made more than a year ago. One of these is a Reddit review from the time when the total fees on Paybis for one card transaction were over 10%. These total fees were indeed too high.
Since then, Paybis lowered its fees. Now, as of 2021, Paybis fee for the cheapest payment method is slightly less than one percent. That fee is competitive and comparable to the fees of other cryptocurrency exchanges.
Paybis Payment Methods & LimitsPaybis accepts only cards issued by Mastercard and Visa. American Express and all other credit cards aren't accepted. But it accepts other payment methods you can see in the table below. This table also shows Paybis daily limit, weekly limit, and monthly limit.
If you're selling bitcoin to Paybis, the minimum transaction amount is 200 USD and the maximum transaction amount is 100,000 USD, while the daily limit is 250,000 USD.
|Payment Method||Minimum Amount Per Transaction||Maximum Amount Per Transaction||Daily Limit, Weekly Limit, Monthly Limit|
|Credit/Debit Card||60 USD||20,000 USD||20,000 USD per day|
50,000 USD per month
|Bank Transfer||200 USD||1,000,000 USD||200,000 USD per week|
500,000 USD per month
|Skrill||50 USD||25,000 USD||50,000 USD per week|
200,000 USD per month
|Neteller||50 USD||25,000 USD||50,000 USD per week|
200,000 USD per month
|Bitcoin||50 USD||25,000 USD||250,000 USD per day|
Paybis Review: Available Cryptocurrencies
This Paybis review wouldn’t be complete without the list of cryptocurrencies you can buy there. Thus, below you can see a list of eleven cryptocurrencies you can buy on Paybis almost instantly.
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin (BTC)
- NEO (NEO)
- Binance Coin
My Experience With Paybis Customer Support
I’ve put Paybis customer support to the test. I’ve chatted with them via the website’s live chat feature. They turned out to be faster than the customer support of any other exchange I’ve tried. They replied to my questions in minutes. Customer support representatives of other exchanges took days to reply to my questions submitted to them via email and their websites. Thus, all or almost all Paybis alternatives don’t even have live chat.
I’m not the only person who had a positive experience with them. Two users of BitcoinTalk forum had the same positive experience with Paybis customer support. The link to that forum thread is in the “Related Links” section.
You can read my chat transcript below. You can click on the heading below to see that transcript. Just keep in mind that this chat isn’t from year 2021. This chat is a few years old and contains outdated information. But it shows the speed of Paybis customer support.
My Chat With PayBis.com Customer Support: First PartThis is a chat transcript from year 2018. Since the webpage mentioned in this transcript has disappeared, I've used three dots (...) in its place. Also, keep in mind that this information is for the most part outdated because Paybis stopped accepting PayPal in any capacity. This chat is here so that you can see the speed of Paybis customer support. 4:01 What’s you current fee for PayPal purchases? Never mind. I found it. 4:09 Ok. Feel free to contact if you have any questions! 4:10 I am checking this page ..., but there is no PayPal. What are the limits for PayPal? 4:15 Because you cannot sell us PayPal, you only can buy it. 4:16 So I can buy BTC through PayPal? 4:17 You can sell us BTC and receive PayPal. Minimum amount is 1000USD. 4:17 So it is impossible to buy BTC through PayPal on PayBis? 4:23 Unfortunately, no. Right now you can only receive PayPal by selling us BTC. However there many alternatives how to buy BTC, for instance, credit card. 4:26 Credit card carries the same fee as debit card? Also, is Mastercard accepted? 4:28 Mastercard is accepted, yes. Credit card takes a bit higher fee then debit card, it depends on the bank.
My Chat With PayBis.com Customer Support: Second PartThis is a chat transcript from year 2018. Since the webpages mentioned in this transcript have disappeared, I've used three dots (...) in their places. Also, keep in mind that this chat transcript information is outdated. Paybis decreased verification time from 30 minutes to only 15 minutes. Likewise, Paybis has expanded its availability to more US states. Thus, I'm adding this chat transcript here mostly for historical purposes. 4:29 How long does verification usually take? 4:29 It takes up to 30min, in some cases may take up to 24h. 4:29 Are you available in all US states? 4:35 We do not work with the clients who are physically located in: New York (NY), Georgia (GA), Connecticut (CT), New Mexico (NM), Washington (WA), Hawaii (HI). 4:35 When you said that verification usually takes 30 minutes, did you mean Level 2 or Level 3? 4:39 On the credit card we have only level 2 verification. 4:40 How about verification for other payment methods? I mean Level 3 4:40 For most of level 3 verifications 2-3 minimum transactions are required 4:41 And after they are completed, how long do you usually take to complete verification? 4:42 The same. It takes up to 30min, in some cases may take up to 24h. 4:42 Do all bitcoin purchases with fiat money require verification? 4:43 Payeer does not require verification on our side, however it requires on their website. 4:45 And all the other payment methods require verification for any amount? 4:50 Yes, exactly. 4:50 I see EUR Bank Transfer and SEPA Bank Transfer on ..., but I do not see them on .... Is this because they are accepted only through third party payment processors? 4:59 Yes, and client can use them if he has account in European Bank.
Coinmama Vs. Coinbase Vs. PayBisIf you're on a mobile device, place your finger on this table and slide it to the right to see all of the table content.
|Company||Fees||Support||Maximum Limits||Privacy Record||User Reviews||Average Purchase Time From Verification To Bitcoin Receipt||Conclusion|
|Good||One million dollars per month||Good||Excellent||1 hour - 1 day||You can use it if you're okay paying high fees to an established company.|
|Bad||$50,000 per day||Terrible. They track all your cryptocurrency activity.||Terrible||1 day - 5 days||Stay way from this evil exchange.|
|Excellent||$1,000,000 per single purchase|
$500,000 per month
|Excellent||Excellent||one hour or less||The fastest legitimate way to buy cryptocurrency. It has better user reviews than any of its competitors. So here's the link to PayBis website.|
Bottom Line Of This Paybis Review
Paybis is definitely worth using if you intend to pay with a bank transfer.
It’s also worth using for card purchases in two situations. First, you’re okay paying higher fees for faster service. Second, you want to buy cryptocurrency as fast as possible.
If one of these three situations applies to you, please sign up for Paybis right now.
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