bitcoin business

Does China Have A Role In Bitcoin’s Rise

Everyone loves Bitcoin. Personally, I can’t get enough of it. Though I just sold all of my XRP, as an aside, because I learned it was being delisted from Coinbase next week, Bitcoin, on the other hand, I am keeping for the moonshot.

Now that Grayscale has its Bitcoin Trust exchange-traded fund, the market cap for Bitcoin has hit a trillion dollars. It is approaching $40,000 per coin.

We know the role central banks are playing in BTC’s rise: debasement of currency via money printing. But what about China?

This is the most curious one for me, especially following what appears to be the self-exile of Jack Ma, the billionaire founder of Alibaba BABA +4.1%. Ma got into some trouble with Beijing regulators following the postponed listing of his fintech company Ant Financial, owners of AliPay, which is ubiquitous in China (you can also find it at your local CVS for some reason). Now there is talk of breaking up the Jack Ma tech empire, something akin to what anti-Big Tech advocates here in the U.S. have been asking be done of Google and Facebook.

One can almost see Chinese billionaires buying up Bitcoin, just in case Beijing comes for their wealth. Lord knows the dollar is in decline, and they probably already own a ton of stocks.

The Chinese currency, out of all the G10 currencies, has the strongest statistical correlation to BTC over the last 12 months, at around 84%. That means that as the RMB gets stronger against the dollar, so does Bitcoin, 84% of the time, says Vladimir Signorelli, head of Bretton Woods Research in Long Valley, New Jersey.

“When Bitcoin rises, the RMB is rising right along with it,” he says, adding that the euro has a 74% to 75% correlation with Bitcoin. The Russian ruble has a 25% correlation.

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Bitcoin: Time To Exit

And then there is the Jack Ma effect. He’s the “canary in the coal mine” says Signorelli. “There could also be an internal dynamic in China keeping Bitcoin bullish,” he says. “You have Jack Ma’s total disappearance since October. Was it a canary in the coal mine for every millionaire and billionaire in China that you need to have a Plan B? There is a real risk of outright confiscation of your wealth. They see it clearly now.”

China’s crypto market has a massive user base. Singapore-based ZB.com Exchange is one of the top four exchanges that are popular among Chinese users. “Our in-app community is very active with Chinese users right now,” says Oman Chen, ZB’s CEO. The seven-year-old company runs digital asset trading platforms ZBM, ZBX and Bithi, cryptocurrency wallets like BitBank, and has a venture capital and research arm. “Most of these traders are very optimistic about the price of Bitcoin,” Chen says.

QCash, a stable coin trading pair supported on ZB.com, which is anchored to the Chinese yuan, is seeing strong trading volumes, according to ZB data. QC is the most liquid yuan-based stable coin.

China’s Digital Yuan Experiment

Last month, China gave its digital yuan a test drive in Suzhou. The experiment lasted roughly 10 days, but stands as a testament to China’s interest in crypto beyond the Bitcoin phenomenon.

Xinhua newswire reported on one resident surnamed Lu who had bought some snacks at a store in the Tianhong Shopping Mall using digital yuan. She transferred 66.6 yuan (about $10.21) from her digital wallet to the vendor’s account with no need for a cell tower connection.

Lu was one of the 100,000 residents of Suzhou who were given 200 digital yuan in the pilot program and could spend it at designated brick-and-mortar stores as well as online at JD.com between Dec. 12 to 27. Noted: not Alibaba.

This doesn’t mean the Chinese government loves Bitcoin, of course. Just that its population is more accustomed to the concept of cryptocurrency than the average American. Go ahead, ask your dad if he knows what Bitcoin is.

“The Chinese government considers Bitcoin a commodity, not a currency,” says Aries Wanlin Wang, a Chinese cryptocurrency investor.

The digital RMB (DCEP) program in Suzhou has adopted some blockchain functionalities but it is not the fully decentralized kind that true Bitcoin lovers want.

“The Chinese government wants to promote the digital yuan before anyone else,” says Wang. “They see the potential of a new payment and clearance system in the digital currency era. It may substitute the current Swift system,” he says, which tracks interbank transactions and is led by the U.S.

Crypto For Poor Countries

Last month, Venezuela’s government said it was giving up on its currency and would switch slowly to a digital system. Their Bolivar is worth less than seashells found on Margarita Island so it makes sense.

Argentina should be next. All of this will drive continued enthusiasm for Bitcoin, no matter the price. At the start of 2020, Ripio, one of Argentina’s largest crypto exchanges, had around 400,000 users and then ended the year with over a million.

Argentina’s tight control over dollars (no one wants pesos there), coupled with a new 35% tax, plus limits as to how many dollars you can buy (just $200), means the Argentines have discovered Bitcoin in a big way, too.

China’s currency, unlike those two basket case currencies of South America, is strong and getting stronger. Moreover, its central bank has been moving on a digital form of its currency for at least three years. They lead on this within the big and medium-sized emerging markets. Indeed, the only country ever talking about Bitcoin is Venezuela, run by the mightily corrupt Socialists United party.

“Even though Beijing has a strong resistance to cryptocurrencies, namely Bitcoin, they have taken the part of blockchain technology that is beneficial to their country’s development,” says Chen from Singapore.

“The central bank’s digital currency can not only give the country a higher level of control over the fiat currency but also snatch back some Chinese users from third-party digital payment platforms such as Alipay and WeChat,” Chen says. Since central bank digital currency is issued at the national level, like fiat currencies, the state endorsement is more powerful to skeptics and it accelerates demonetization in favor of crypto.

Bitcoin, in China at the moment, is rising with the fortunes of a stronger yuan and the digital yuan experiments.

Rich Chinese nationals may be thinking, ‘you know what, I rather have something that is loaded and convertible and beyond the reach of Beijing and perhaps the reach of the PBoC’ — that’s the central bank of China.

In this way, they don’t have to worry about currency devaluation and Bitcoin becomes a tax hedge. The top income tax rate in China is around 45%.

People might not remember, but this time last year gold was at $1515 an ounce; it’s now around $1850. The dollar on a gold basis has lost 20% or more of its value, notes Signorelli, searching for reasons why Bitcoin has doubled in less than four weeks.

“If you put your currency and inflation hedges into BTC instead of gold, man…you’re doing fantastic,” Signorelli says. “My suspicion is that as Chinese wealth increases, it is going to be increasingly difficult for Beijing to prevent their nationals from seeking ways to preserve their capital outside of the RMB. If they can’t buy U.S. real estate or stocks, and U.S. and European bonds pay little, they’ll take some more risk with Bitcoin, I think.”

Kenneth Rapoza

I’ve spent 20 years as a reporter for the best in the business, including as a Brazil-based staffer for WSJ. Since 2011, I focus on business and investing in the big emerging markets exclusively for Forbes. My work has appeared in The Boston Globe, The Nation, Salon and USA Today. Occasional BBC guest. Former holder of the FINRA Series 7 and 66. Doesn’t follow the herd.

China Uncensored

Bitcoin. It’s a big deal in China. It can be used to subvert government controls. And the government can’t shut it down. At the Oslo Freedom Forum, China Uncensored producer Matt Gnaizda sat down with Bitcoin expert Leo Wheese. He’s the President of the Bitcoin Association of Hong Kong. YouTube demonetizes our channels! We need your support!! https://www.patreon.com/ChinaUncensored We also accept bitcoin! http://www.chinauncensored.tv/bitcoin/ Make sure to share this video with your friends! __ Subscribe for updates: https://www.youtube.com/ChinaUncensor… __ Twitter: https://twitter.com/ChinaUncensored Facebook: http://www.facebook.com/ChinaUncensored Instagram: http://instagram.com/ChinaUncensored or check out the China Unscripted Podcast! http://chinaunscripted.libsyn.com/ __ © All Rights Reserved. #bitcoin xrp libra bitcoin news btc

Investing In Bitcoin: What To Consider Before You Buy Bitcoin

Bitcoin is the first cryptocurrency in the world, launched in 2009. It is also the first wide-scale, real-world application of blockchain technology. Bitcoin (BTC) is a decentralised network which uses a public ledger to approve transactions, eliminating the need for third party approval (such as a bank). It also operates free of a governing body, such as a central bank, and all changes in the network require consensus from its members.

While initially BTC value was extremely low, priced at fractions of cents, it picked up steam over the years, reaching price levels in the thousands of dollars for a single Bitcoin token and a market cap in the hundreds of billions. The Bitcoin chart often displays extreme volatility, having short-term price spikes and tumbles. Sometimes, when the Bitcoin price is on the rise, more people are inclined to buy Bitcoin, fueling its positive run further.

On the other hand, when the Bitcoin value is on the decline, it can prompt existing investors to sell their Bitcoin and push prices down. Moreover, Bitcoin is considered the bellwether of the cryptocurrency space, so it can often generate industry-wide trends.

Should You Invest In Bitcoin?

Get the facts about trading Bitcoin before you start. Discuss investment strategies, review market research, and get real-time updates. Bitcoin is the first cryptocurrency in the world, launched in 2009. It is also the first wide-scale, real-world application of blockchain technology.

The Bitcoin chart often displays extreme volatility, having short-term price spikes and tumbles. Sometimes, when the Bitcoin price is on the rise, more people are inclined to buy Bitcoin, fueling its positive run further. On the other hand, when the Bitcoin value is on the decline, it can prompt existing investors to sell their Bitcoin and push prices down. Moreover, Bitcoin is considered the bellwether of the cryptocurrency space, so it can often generate industry-wide trends. Still not sure if you should invest? Read more below

JPMorgan Says Bitcoin Could Surge to $146,000 in Long Term

JPMorgan Chase & Co. sees Bitcoin as a future competitor of gold as an asset class, with the long-term potential to reach $146,000, Bloomberg reports.

Why It Matters: It would be quite the climb for Bitcoin, which rallied to a record $34,000 before retreating a bit on Monday. But it’s a long way off, if anything. Private investment in Bitcoin would have to grow at a multiple of nearly five to match the investment in gold via ETFs or bars and coins.

But a healthy future for Bitcoin depends on its volatility coming down to gold’s level, encouraging more institutional investment.

A group of strategists led by Nikolaos Panigirtzoglou said this could be a “multiyear process.”

Key Numbers (From CoinMarketCap):

Bitcoin’s Market Capitalization: $592 Billion
Bitcoin’s Circulating Supply: 18,600,000 Tokens
Bitcoin’s Current Price (9:00 a.m. ET): $31,701.10

As prices continue to improve and volatility appears to stabilize, more institutions and noted investors are getting involved or expressing interest. But a heated debate over Bitcoin remains:

“While some argue that the cryptocurrency offers a hedge against dollar weakness and inflation risk in a world awash with fiscal and monetary stimulus, others say retail investors and trend-following quant funds are pumping up an unsustainable bubble.”

The Future, For Now: JPMorgan anticipates headwinds for the digital currency, with indicators “like a buildup of speculative long positions and an increase in investment wallets holding small amounts of Bitcoin showing potential froth.”

Bitcoin rose 1.7% to $31,567 as of 10:31 a.m. in London. The wider Bloomberg Galaxy Crypto Index added 0.9%. On Monday, Bitcoin slid as much as 17%, the biggest drop since March, after breaching $34,000 for the first time over the weekend. The swings are a reminder of the famed volatility of the largest cryptocurrency, whose price has more than quadrupled over the past year.

Bitcoin has the potential to reach $146,000 in the long term as it competes with gold as an asset class, according to JPMorgan Chase & Co. Bitcoin’s market capitalization of around $575 billion would have to rise by 4.6 times — for a theoretical price of $146,000 — to match the total private sector investment in gold via exchange-traded funds or bars and coins, strategists led by Nikolaos Panigirtzoglou wrote in a note. But that outlook depends on the volatility of Bitcoin converging with that of gold to encourage more institutional investment, a process that will take some time, they said.

“A crowding out of gold as an ‘alternative’ currency implies big upside for Bitcoin over the long term,” the strategists wrote Monday. However, “a convergence in volatilities between Bitcoin and gold is unlikely to happen quickly and is in our mind a multiyear process, according to Bloomberg. This implies that the above-$146,000 theoretical Bitcoin price target should be considered as a long-term target, and thus an unsustainable price target for this year.”

More institutions and noted investors, from Paul Tudor Jones to Scott Minerd and Stan Druckenmiller, have either started allocating funds into Bitcoin or have said they’re open to doing so. While some argue that the cryptocurrency offers a hedge against dollar weakness and inflation risk in a world awash with fiscal and monetary stimulus, others say retail investors and trend-following quant funds are pumping up an unsustainable bubble.

For now, JPMorgan sees headwinds for the largest cryptocurrency, with indicators like a buildup of speculative long positions and an increase in investment wallets holding small amounts of Bitcoin showing potential froth. “The valuation and position backdrop has become a lot more challenging for Bitcoin at the beginning of the New Year,” the strategists wrote. “While we cannot exclude the possibility that the current speculative mania will propagate further pushing the Bitcoin price up toward the consensus region of between $50,000-$100,000, we believe that such price levels would prove unsustainable.”

Analyst Read: $FUBO

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#bitcoin #gold #bitcoinpricetarget Yahoo Finance’s Dan Roberts weighs in on JPMorgan’s bullish note on bitcoin. For 2020 election results please visit: Election results: https://www.yahoo.com/elections Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. About Yahoo Finance Premium: With a subscription to Yahoo Finance Premium, get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. To learn more about Yahoo Finance Premium please visit: https://yhoo.it/33jXYBp Connect with Yahoo Finance: Get the latest news: https://yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz Follow Cashay.com Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV

Forbes Cryptocurrency Awards 2020: The $3 Trillion Bitcoin Marketing Campaign

For the first time ever, we are publishing the Forbes Crypto Awards. Not everyone will be happy they’re on the list. Fed chairman Jerome Powell takes the honors as our person of the year: In a pandemic year when the Fed printed so much stimulus money that the central bank saw its balance sheet nearly double in size, our Forbes Awards judge Anthony Pompliano of Morgan Creek Digital credits Powell with running a “$3 trillion marketing campaign for bitcoin.”

Here are our picks for the best products, the most intriguing people and the most interesting trends in crypto this year.

Our inaugural Forbes Crypto Awards were selected in consultation with Anthony Pompliano, who helps manage two crypto funds at New York City-based Morgan Creek, which has $1.5 billion in assets under management, as well as his own recently launched endeavor, Pomp Investments.

The Forbes Person Of The Year In Crypto: Jerome Powell

In an attempt to prevent the U.S. economy from collapsing under pandemic pressure, Powell had the U.S. Federal Reserve buy up a record amount of treasuries, effectively printing more than $3 trillion in new money and nearly doubling the central bank’s balance sheet. Venture firm Pantera Capital called the infusion “two centuries of debt in one month,” creating an environment in which previously skeptical investors including Wall Street whales like Paul Tudor Jones and Stanley Druckenmiller started taking cryptocurrency seriously. “I think Jerome Powell did the things that he and his colleagues believed were the best things to do in the short term to mitigate pain from the pandemic and economic crisis,” says Pompliano. “But in the pursuit of mitigating short-term pain, they were highlighting for everyone, from retail investors to the largest institutions in the world, what was going to happen over the next decade or two.”

Best Product: Square’s Cash App

In August 2018, Jack Dorsey’s payments giant Square, now valued at $96 billion, was among the first mainstream enterprises to allow bitcoin purchases in all 50 states. Bitcoin has proved a real boon to the company, which generated $1.6 billion in revenue from the asset in the third quarter, an 11-fold increase year over year. “I tend to think that new users give a good signal for something that is usable,” says Pompliano. “Not just by the crypto enthusiasts but by the everyday person, the mainstream.”

Most Intriguing Newcomer: Michael Saylor

Among a slew of names that bought bitcoin for the first time this year, perhaps none were more surprising, or made a bigger impact, than the CEO of struggling MicroStrategy, a Tysons Corner, Virginia-based business software firm. Over the course of five months starting in August, Saylor revealed that his smallish outfit, which competes against giants like Oracle and SAP in data analytics, had bought $475 million worth of bitcoin. That made bitcoin the publicly traded company’s biggest treasury asset. While Citi recently downgraded MicroStrategy as a result of the extremely aggressive play, Pompliano thinks it’s exactly that audacity that makes Saylor so intriguing. “He came out of nowhere,” says Pompliano. “And he has not only lit the bitcoin and crypto world on fire, but he has very quickly ascended to be one of the top bulls in the way he talks about what he’s doing. There’s no hedging in the way he talks about it; there’s no surrender.”

Disruptive Innovator: Caitlin Long

This former head of Morgan Stanley’s pension advisory group was once a rising star in traditional finance. Then, after helping write cryptocurrency-friendly laws in her home state of Wyoming, she was unanimously approved for one of the state’s new bitcoin banking charters in October. “She is disrupting the traditional regulatory framework,” says Pompliano. “And obviously, she was very instrumental there. But then to go build a company, to leverage those rules? I look at that as disruptive in a unique way.”

Outstanding Firm: Ark Invest

After experimenting with many different crypto strategies over the years, Ark’s CEO and chief investment officer Catherine Wood has shuffled most of her ETF firm’s direct bitcoin exposure into a single fund dedicated to “innovative” assets. But a number of other Ark ETFs have indirect exposure in the form of stakes in Silvergate Bank, which banks cryptocurrency businesses; Square and PayPal, which let their customers use bitcoin; and Nvidia, the Santa Clara, California-based computer chip manufacturer whose hardware has long been favored by many bitcoin miners. It’s working: Wood’s flagship fund is up 150% this year, and Ark’s assets under management have skyrocketed to $15 billion. “Cathie is one of those people who she’s not known just for bitcoin, so we kind of dilute her impact,” says Pompliano. “But she believed early; she was the first institution to really kind of go after the GBTC trade. She’s been right. She’s been right about a lot of stuff.”

Annus Horribilis: Libra

Libra exploded onto the cryptocurrency scene in June 2019 when Facebook announced the project would use the blockchain to create a single asset backed by a number of global currencies, including the dollar, the euro and the yen. The original idea was that the Libra would be managed by payments giants like Visa, PayPal, Mastercard and Stripe. But U.S. lawmakers pretty much immediately freaked out, calling Facebook CEO Mark Zuckerberg to Capitol Hill to explain his work. Most of Facebook’s best-known payment partners quickly backed out.

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After many compromises to the original vision, a watered-down—although possibly still successful—version of the currency, now called Diem and backed one-to-one by the U.S. dollar, is scheduled to launch next year. “They, me and everyone else underestimated how swiftly and how powerful regulators and governments can be when they decide to attack,” says Pompliano, who worked at Facebook 15 years ago. “In terms of the absolute height of promise, possibility, etc. to the current state, that delta, I don’t think that we’ve seen anything fall as hard as Libra.”

Facebook CEO Mark Zuckerberg Aurelien Meunier/Getty Images

Forbes Forecast: Bitcoin corporate treasuries

MicroStrategy purchased $475 million worth of bitcoin this year and now has plans to raise another $650 million to purchase more; Square invested about $50 million into the cryptocurrency; and New York City-based asset manager Stone Ridge revealed it owned $115 million worth of the asset. Now that financial giants like Northern Trust, managing $1 trillion worth of assets, have revealed plans to help institutional investors safely custody crypto, it’s a trend that is likely only going to continue. “I think that we will see very, very, very large companies—Fortune 100-, Fortune 500-type companies—putting bitcoin on their balance sheet in 2021,” says Pompliano.

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Michael del Castillo

I report on how blockchain and cryptocurrencies are being adopted by enterprises and the broader business community. My coverage includes the use of cryptocurrencies and extends to non-cryptocurrency applications of blockchain in finance, supply chain management, digital identity and a number of other use cases. Previously, I was a staff reporter at blockchain news site, CoinDesk, where I covered the increasing willingness of enterprises to explore how blockchain could make their work more efficient and in some cases, unnecessary. I have been covering blockchain since 2011, been published in the New Yorker, and been nationally syndicated by American City Business Journals. My work has been published in Blockchain in Financial Markets and Beyond by Risk Books and I am regularly cited in industry research reports. Since 2009 I’ve run Literary Manhattan, a 501 (c) (3) non-profit organization dedicated to showing Manhattan’s rich literary heritage.

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Why Scottish Paybis Is Still Among The Reliable Investment Services In The World

Paybis The One Stop Shop For All Your Cryptocurrency. Paybis offers a wide range of different payment methods to buy and sell Bitcoin and five more cryptocurrencies. You can buy Bitcoins directly on Paybis with credit or debit card or any payment method which suits you the best. Their goal is to provide the customers a secure trading platform with 24/7 live support.

Paybis is a fast-growing company of experienced professionals from various industries who joined efforts in order to solve the problem of getting crypto fast and securely. The team consists of IT and Executive professionals, as well as experienced traders with several thousand, completed deals in their background. Their mission is to provide one of the best international cryptocurrency exchange services and help people transfer their funds between different payment systems quickly and with minimum fees.

Paybis’ Background

The Paybis story has started in 2014, since then the exchange has grown to an international market place which serves more than 200,000 customers worldwide. They have completed more than 200,000 transactions since the beginning.

Paybis LTD is the company behind the operations of Paybis.com exchange. The company is registered in the United Kingdom with the registered address as 35/3 Buchanan Street, Edinburgh, United Kingdom, EH6 8RB. The founders are originally from Latvia.

Two employees are listed on Paybis LTD’s LinkedIn profile who are working for the company. Inokentijs Isers, from Latvia, is the director of Paybis LTD according to the company registrar, but he does not have a LinkedIn account. The other founder of the exchange is Konstantin Vasilenko who is an IT expert with over 15 years of extensive experience in enterprise IT project management, CRM systems, Blockchain, Digital Payments, and cryptocurrencies.

From 2015 he is the co-founded Paybis.com.Prior to joining the cryptospace he had 10+ year working career at Accenture, a Fortune 500 global management consulting and professional services firm that provides strategy, consulting, digital, technology and operations services. Vasilenko graduated from the University of Riga as an IT professional.

Paybis is actively present on major social media platforms. They are sharing industry related interesting information with their 1k followers on Facebook. Similarly, their 1k followers on Twitter can read guides and walkthrough from the exchanges beyond retweets of industry related news. Their Youtube channel however only has one video so far. An important item on their social media list is the Trustpilot page. Out of 3915 reviews, they have gained a 9.2 rating from their users, which indeed increases the transparency of their activity.

To sign at and trade on Paybis you have multiple options to choose from for registration. In order to make the signup process as smooth and fast as it could be, you can use your Facebook or Google account to sign up for their services quickly and securely. If you do not want to give permission to your account by third-party accesses, you can always go down the usual road of providing your name and email address for registration. You need to confirm your email address in order to sign in, so make sure you provide a valid email.

At the same time, they respect privacy promise all information you provide them is kept securely on their servers that are not connected to the public web.Normally it takes 10-20 mins to get verified while making the first transaction if you fill in all information required correctly and you upload good quality pictures. There are 3 levels of verification you can choose from, each has its own limits depending on the payment method you would like to use.

The level 1 verification is mandatory to use the platform. This includes providing personal information (like name, date of birth, address, ID numbers). You also need to provide a copy of your documents to them. For level 2 verification you need to provide them with a selfie of your IDs and a proof of your address. For level 3 verification they also require additional documentation for your bank account and a minimum amount of completed transaction on the platform.

Although generically speaking you are required to verify your identity when using the platform, there are some exceptions you can still buy bitcoin without verification. There are a few methods available to buy Bitcoin without verification. Amazon.com gift cards do not require verification. Additionally, the level 1 verification for Perfect Money, Advanced Cash and Payeer payment methods are granted automatically, thus you can make purchases of Bitcoin without verification up to specific amounts.

Verification limits are depending on the payment method you would like to use. For Visa/MasterCard credit/debit cards, limits are USD 20,000/50,000 per week/month. For other digital wallet payments like Advanced Cash, Perfect Money, and others, they allow up to USD/EUR 500,000 per week. With Bank Transfers EUR/USD/RUB Paybis allows up to USD 200,000 of purchases per week or equivalent in other currencies.

Paybis does not support every single country in the world. Due to local legislation, Paybis does not provide services to the residents of certain US states (New York (NY), Georgia (GA), Connecticut (CT), New Mexico (NM), Washington (WA), Hawaii (HI)) and some other countries due to international trade agreements. Make sure you check out the list of restricted countries on their website before signing up.

They also suggest certain payment methods depending on your location. In the US credit card is good for a large amount, but alternative payment provides are not available to US residents. For European Union residents all the listed payment methods are available. For Russia and CIS countries, the most popular payment method is using credit and debit cards, but they only accept EUR and USD payment, which mean additional currency conversion charges are applied on a transfer.

For the rest of the world, Paybis suggest using bank wire transfers but for them, EUR transfers are not supported.
The most impressive feature of Paybis is the variety of payment methods they offer. You can pay with Visa and Mastercards, SEPA or bank wire transfers. But they also offer a lot of different alternative payment option, such as paying with Amazon gift cards or Skrill, Yandey, Perfect Money funds.

Paybis features

You can even earn extra cash through their lucrative referral program. 10% of the profit is shared after each transaction done by your referral. In addition to this, they have a multi-tier system which means you are earning commissions after those referrals which are an affiliate to your first level referral.Paybis also offers guest blogging opportunity for those who would like to improve the SEO of their site. Something you rarely see on any crypto exchange.

Fees on Paybis
Before engaging into a deal on Paybis, make sure you check the fees and commissions on their rates sheet. The fee structure is a bit complicated so make sure you take the time to understand what you are dealing with.
Each payment method comes with a different fee which is based on a % commission and sometimes a flat fee added to this. Flat fees can increase your base costs during a small amount of purchases. The price of bitcoin and other cryptocurrency is depending thus on the payment method you choose. Paybis tried to be transparent as much they could be on the fees side, so you can see next to each payment method how much will that purchase cost to you after the commissions and fees are deducted. The price of Bitcoin and other cryptos are also varying depending on if you are buying or selling.

Security on Paybis

Paybis have turned on the possibility to add ratings to their Facebook page this means anyone who has a Facebook profile can rate their service which they cannot modify. This ensures that even bad reviews stay on the page, but unfortunately also means that anyone can comment with a Facebook account, regardless if they have truly used the service. Out of 18 opinions, their service is rated at 3.8/5. There were two users complaining about their service so far. Their issue was that Paybis asked for personal documents before the transactions. On the other hand, apart from these complaints, there are no real complaints about their services, nobody reported that they got scammed using their services and their Trustpilot rating is very high as well.

Paybis does not store any cryptocurrency on behalf of you. When you purchase the coins, the cryptocurrency is transferred directly into the wallet of yours. This reduces the risk of a hacking incident where the funds of the clients would be stolen from the exchange.

They do not have a 2FA security layer, so the password protection is the only gate on the site. Paybis stores offline all client related information, not on public servers.

Supported Payment Methods

Credit Card
Debit Card
Wire Transfer
Skrill
Neteller
AdvCash
Payeer
Perfect Money

Supported Countries

All countries except:

Bahamas
Botswana
Cambodia
Ghana
Iceland
Iran, Islamic Republic of
Korea, Democratic Republic of
Mongolia
Pakistan
Panama
Syrian Arab Republic
Trinidad and Tobago
Yemen
Zimbabwe
Afghanistan
Cuba
Iraq
Kyrgyzstan
Lebanon
Sudan
Some States in the US

Source: http://paybis.com

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