Paybis

Learn the reasons behind the popularity of the Paybis among traders. You should know about the essential security features added to Paybis for crypto investors.

Paybis Overview

Paybis is a popular European cryptocurrencies exchange platform that provides a lot of security features and benefits. Back in 2014, Paybis was launched to offer holistic cryptocurrency trading services. The platform is clutter-free and easy to access and is now available in more than 18- countries. Investors can buy and sell various popular cryptocurrencies using the Paybis platform.

Types of Trading

You can easily create an account and verify the documents within 20 minutes. Moreover, Paybis include customer care service that is provided by a knowledgeable team. They are available 24/4 to answer any query of the investors.

Paybis offers the opportunity to beginners and professionals to indulge in the following orders:

  • Swing Trading: Buying or selling cryptocurrencies after watching short-term trends is known as swing trading. Experienced traders can make small price changes to make huge profits. After the introduction of leverage trading, this strategy became extremely popular among cryptocurrency investors.
  • Position Trading: Position trading is used by investors to make higher profits compared to swing trading. They have to closely observe the market and the trend to make investment strategies. Position trading takes more time, but an experienced investor can make a big profit without taking much risk. Investors will buy or sell cryptocurrencies when they think there will change in price for a long time.
  • HODLing: Compared to all the trading strategies, HODLing is well-known among all crypto investors. Compared to position traders, a holder will hold the purchased cryptocurrencies for a long duration.

This particular strategy is used by traders who believe in a particular project and don’t want to sell because they know the price can significantly increase within a few years.

Order Types

  • Stop Loss Order: When it comes to capital preservation, the traders place a stop loss sell order because it can reduce the chances of loss in an unexpected turn in the market. You can place a stop-loss sell order to sell the holding in case of a sudden price. The investors don’t want to face loss when the price of the coins keeps dropping compared to the high price of their sell order. Hence, they use stop-loss orders to limit the chances of making losses.
  • Buy Order: Investors generally use buy orders to make an automatic purchase based on when the price of a cryptocurrency faced a decline. In the order book of an exchange, you can check all the avaliable buy orders.

Although traders can place an order by keeping an eye on the current price, some investors don’t want to miss out because the price can change constantly. Automated buy orders can help them make maximum profit.

Is Verification Required –Verification Levels & Fees

Paybis platform requires the customers to go through the KYC verification process before they can start making deposits on cryptocurrencies. This limits the risk of money laundering activities. You have to verify your identity and give some basic details before starting the investing process. Here are the steps to follow to complete the KYC verification process and start investing in cryptocurrencies.

  • Step 1: Investors have to submit their residential address, full name, and phone number. They have to pass this verification level to continue to another stage. Just make sure the personal details match the information available in your documents.
  • Step 2: The KYC verification process requires the user to submit legal documents like a government identity card or a scanned copy of a passport. You might be asked to take a selfie with the document that includes your image. Users must ensure that the scanned images and selfie is clear and documents can be seen. The texts in the passport should be clearly visible.
  • Step 3: Investors must submit scanned copies of their credit card, government or financial institution-issued documents, and gas/electricity bills. They might also have to submit proof of address and the basic details about their occupation.

The scanned pictures of all the documents should be of good quality, and all four corners of the documents should be visible. Avoid using flashlights while taking any picture.

Paybis Security Features

Following are the security features of the Paybis crypto exchange – 

  • Non-Custodial Exchange: Since Paybis doesn’t provide a cryptocurrency wallet, you don’t have to worry because there is no chance of theft or hacking on Paybis.
  • Two-Factor Authentication: Paybis has included a two-factor authentication feature to ensure the accounts and funds of cryptocurrency investors remain secure and protected. When clients use 2-factor authentication, no one else can get access to their Paybis account.
  • KYC and AML Policies: Paybis ensures the investors use a secure platform with no chance of illegal activities. Hence, AML and KYC policies are included and followed on this platform.

Is Your Money Safe With Paybis?

Paybis is a legal and registered company in the UK. In the United States, the organization has been licensed with FinCen as Money Service Business (MSB). In several regions like Estonia, Paybis is permitted to offer fiat and virtual currency exchange services. Since Paybis is regulated under the Financial Conduct Authority, there is no risk of losing money on this platform. Several experienced traders use this platform to make huge profits.

Paybis Pros And Cons

Following are the pros and cons of the Paybis crypto exchange platform – 

Pros

  • Good security and very simple to use.
  • No hidden fees and multiple payment options.
  • 24/7 customer support.
  • Reliable and licensed exchange platform.

Cons

  • Unavailable in some countries and states.
  • Few cryptocurrency options.

Final Words

Using the Paybis platform for cryptocurrencies, fresh investors can start making an account and begin their trading. Paybis offers multiple features like 2FA security along with an easy-to-use interface thus, making it a secured crypto platform for beginners and professionals alike.

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