Paybis Review: 7 Key Things to Know About This Digital Currency Exchange

Paybis is a digital and cryptocurrency exchange that was launched in 2014 in Latvia. It has its offices across Europe and in the USA and has served over 200,000 customers.

I discovered Paybis when I needed to exchange Neteller for Naira. The e-currency exchanges in Nigeria that offer this service charged too much in transaction fee.

I went through Paybis; converted Neteller to Bitcoin, send it my Quidax bitcoin wallet, converted it to naira there, and withdrew. I still got a better rate through this process.

So, in this article, I will be giving a total review of Paybis and also included a demonstration video of how to use it.


Paybis Review Summary

Paybis’ mission as stated on its website is to provide one of the best international e-currency exchange services and help people to transfer their funds between different payment system quickly and with minimal fees.

In this Paybis review, I provide a concise but comprehensive detail of paybis and its operation so you can judge for yourself if they are in line with their mission statement.

Here is what I will cover

  1. Paybis Overview
  2. Paybis Services
  3. Supported Currencies and Payment methods
  4. Transaction fees
  5. Transaction limits and Verifications
  6. Supported Countries
  7. Customer Support
  8. Future Plans
  9. Demonstration Video on how to buy and sell e-currencies on Paybis
  10. Conclusion

1. Paybis Overview

Paybis does not support storage of cryptocurrencies or e-currencies. It only functions as a gateway for users to switch between different currency types. The 2 mins video below give a quick overview of how it works

Visit Site


2. Supported Currencies and Payment Methods

Paybis supports the following currencies and payment methods.

CryptoCurrency

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Neo (NEO)

Online Currency

  • PerfectMoney
  • Payeer
  • Advanced Cash
  • Skrill
  • Neteller

Bank Transfer

  • EUR Bank Transfer
  • USD Bank Transfer

Gift Card

  • Amazon eGift Card

3. Paybis Services

Paybis provide services which are very essential to an online entrepreneur or investor. It’s a platform where people can easily convert one currency type to another; from fiat money such as Dollar of Euro to E currencies such as Perfect Money, Neteller to cryptocurrencies. In summary, the services are as below

Paybis Credit/Debit Card Exchange

With the Credit/Debit card (Master/Visa), users can buy any of the following cryptocurrencies

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Neo (NEO)

Note: You cannot buy online currencies like Skrill using the credit card on Paybis.

Bitcoin Exchange services

If you have bitcoins, you can convert it to any of the following currencies

  • Online currencies
    • PerfectMoney
    • Payeer
    • Advanced Cash
    • Skrill
    • Neteller
  • Fiat Money
    • Euro via Bank transfer
    • Dollars via Bank transfer
  • Gift Cards
    • Amazon.com eGift Card

Note: You cannot exchange bitcoin for other cryptocurrencies on Paybis

E-Currency  Exchange Services

Paybis supported online currencies as listed above can be exchanged for any of the following.

  • Cryptocurrencies
  • Other online currencies
  • Amazon Gift card
  • Euro via bank transfer
  • USD Via bank transfer

Note:

Paybis does not support the exchange of PM, Neteller, Payeer or Advanced Cash for USD via Bank Transfer. However, it supports the exchange of Skrill of USD and EURO. Also, it does not support the exchange Neteller for Skrill but you can exchange Skrill for Neteller

Bank Transfer

User can make bank transfer either in Euro or USD to purchase any of the supported e-currencies and cryptocurrencies.


4. Paybis Transaction Fees

There are three types of fees Charged in Paybis

  1. Receiving payment Method fee: This is the fee payment services take to process your payment e.g the bank charges you to transfer money via bank transfer
  2. Paybis fee: This is the fee Paybis charges to provide services to you. It is through this fee it generates revenue for itself.
  3. Sending Payment Method fee: This is the fee paybis pays payment processors to send fund to you.

The actual fee paid and the percentage depends on the type of payment method. Paybis has been transparent enough to provide a page listing the transaction rates for all the transaction pair. Transaction fees are be presented in these three formats

  • (commission: 3.5%): This case, Paybis commission is 3.5%, there is no sending method fee
  • (commission: 0.27%+1%): In this case, Paybis fee is 0.27% while the sending method fee charged by the payment processor is 1%.
  • (commission: 5%+5%+5%): This is a common with credit card payment method. Here you pay the three fee types.

Example:

Bitcoin to Payeer – (commission 0.27%+1%).

For the above; Paybis takes 0.27% for their service and Payeer chargers 1% to receive it.

The full list of the rates for each transaction pair can be found here.


5. Transaction Limit and Verification Levels

The Transaction limits range from 10 USD monthly to 800,000 EUR monthly depending on the verification level a user has attained and the payment method chosen.

There are 3 verification levels. The verification levels and its requirement depend on the Payment method.

For example. A credit card user requires only a Level 2 verification while using the Bank transfer method requires level 1 to 3 depending on how much you want to transfer.

In general, the requirement for each level are as below

To get a full list of the verification requirement for each transaction type click here.

Account verification requests are processed with 60 mins 24/7.


6. Supported Countries

Paybis supports Users from over 150 countries including the USA, UK, Canada etc, However, in the USA they do not support users from the following states; New York (NY), Georgia (GA), Connecticut (CT), New Mexico (NM), Washington (WA), and  Hawaii (HI).

The 15 countries not supported include: Democratic People’s Republic of Korea (DPRK), Ethiopia, Iran, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Yemen, Iraq, Afghanistan, Botswana, Bahamas and Ghana


7. Customer Support

Paybis has outstanding customer support. This is evident from the excellent public rating of 9.2 out of 10 on Trustpilot.

Customer support is available 24/7 and can be contacted through any of the following means;

Live Chat: average response time is 15 seconds

Email: [email protected]

Skype: paybis.support

Telephone: LV: +371 2481-3381 USA: +1-248-480-7383

Please confirm this handles from Paybis official website.


8. Future Plans

There is currently a partnership going in with MasterCard to produce the Paybis Mastercard.


9. Demonstration Video – How to buy Bitcoin with E currency on Paybis.

Visit Site

Also read: Quidax Review; the fastest growing crypto exchange in Africa 


10. Conclusion

Paybis provides a much-needed service in the currency world. It helps users to seamlessly transition from one currency type to another safely and timely.

The exchange rates on Paybis seem rather high, which I believe can be lower with more competitors.

But if you exclude the transaction charges from the payment processor, you will discover that it is quite fair and worthwhile with the quality of service and transparency provided on Paybis.

Now is your turn, what do you think about Paybis? What is your experience with the exchange?

Leave your response as a comment below with any other questions you might have.

Don’t forget to share this post.


PayBis

0.00
8.9

Reputation

9.0/10

Customer Support

9.5/10

Ease of Use

9.5/10

Payment methods

9.0/10

Transaction fee

7.5/10

Pros

  • Superb Customer Support
  • Easy to Use
  • Timely Delivery
  • Supports Over 150 Countries

Cons

  • High fees

Follow me

2 thoughts on “Paybis Review: 7 Key Things to Know About This Digital Currency Exchange”

  1. I saw this blog and I fell in love with the concept but I was worried a bit that this blog only promote Foreign exchanger but not a local exchange platform or maybe the founder and the reader of the blog don’t know in Nigeria we have stable international standard exchanger. The exchanger is P2P. Can someone just study and write review on the exchanger the name is http://www.acunarhub.com actually I have traded on it without any issues but better people in the crypto space should review that platform.

    Regards

    Reply

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.