Comparison of Bitfinex vs Paybis [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitfinex vs Paybis comparison!

Your expert: Alejandro Borja

Bitfinex

Your expert: Xavier Tarrasó

Paybis

Main points

Fees

0,10% /0,20%

Earns

Customer service

3/5

fluctuate

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.2 – Low fees for high-volume traders but higher for smaller trades.

3.7 – Reasonable fees with additional benefits for instant purchases.

Level

0,10% /0,20%

fluctuate

Brief explanation

Bitfinex’s fee structure is designed to cater to both high-volume and occasional traders. The exchange employs a maker-taker fee model, where makers, who add liquidity to the market by placing limit orders, typically pay lower fees than takers, who remove liquidity by matching orders already on the book. Fees for takers start at 0.20%, and for makers, they begin at 0.10%. These fees decrease significantly with increased trading volume, making Bitfinex an attractive option for active traders. Additionally, there are no fees for depositing cryptocurrencies, though withdrawal fees do apply and vary depending on the currency. Overall, Bitfinex’s fees are competitive within the industry, providing a fair balance between cost and the comprehensive features offered.

Paybis structures its commissions to be straightforward and transparent, ensuring that users are well-informed about any costs associated with their transactions. The exchange typically charges a fee on transactions involving fiat to crypto exchanges, with the exact percentage varying depending on the payment method used. For instance, credit card transactions might incur higher fees compared to bank transfers or other payment options. Additionally, Paybis also imposes a conversion fee if a currency conversion is necessary during the transaction. This commitment to clarity allows users to plan their trading activities without worrying about hidden charges.

Bitfinex

Year Founded: Bitfinex has been operational since 2012, establishing itself as one of the oldest and most stable players in the volatile cryptocurrency market. Its longevity speaks to its ability to adapt and improve in a rapidly evolving industry
Security Methods: Post-2016 hack, Bitfinex significantly ramped up its security measures, implementing state-of-the-art security protocols including cold storage of funds, two-factor authentication, and advanced encryption technology to protect user data and assets.
Trading Volume and Liquidity: Bitfinex consistently ranks among the top exchanges in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and scale of operation that Bitfinex maintains.
Reputation and Reviews: Despite past challenges, Bitfinex has maintained a strong reputation within the crypto community. It is frequently praised for its advanced trading features and deep liquidity, with many users advocating for its platform in various reviews and crypto forums.
Transparency: Bitfinex has taken steps to enhance its transparency, particularly in how it manages user funds and its operational status. The exchange regularly updates users about new features, security enhancements, and operational changes, helping build trust through openness.

Read bitfinex review

Paybis

Security Measures: Paybis implements robust security protocols, including two-factor authentication and advanced encryption, to protect user data and funds. Their commitment to security is evident in their operational history, which is free from any major security breaches.
Regulation and Compliance: Paybis operates in compliance with international financial regulations, which adds a layer of legitimacy and trust. They are registered with FinCEN in the United States and comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) guidelines, ensuring a secure trading environment.
Customer Service: Paybis is known for its excellent customer support, available 24/7. They provide a wide range of support channels, including live chat and email, ensuring that users can get help whenever needed.
Reputation and Reviews: With high ratings on trusted review platforms and positive feedback from users worldwide, Paybis enjoys a solid reputation. Users often praise the platform for its ease of use and the speed of transactions.
Transparency: Paybis is transparent about its fee structure and any associated costs of transactions. This transparency is crucial for trust, as users can make informed decisions without worrying about hidden charges.

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Product selection

Native token

Token LEO

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

iFinex Inc.

Paybis LTD

Regulation

Not regulated

Regulated in the Reino Unido

Year founded

2012

2014

Founder

Jean

Innokenty Isers

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitfinex	FEATURES	Paybis
Bitfinex allows trading with a relatively low minimum, catering to both small and large investors.	Minimum Trade	Paybis offers a flexible minimum trade amount, making it accessible for beginners to start trading without a significant initial investment.
Fees are competitive, but high withdrawal fees may deter frequent traders.	Trading and Transaction Fees	Paybis charges fees that are somewhat higher than some of its competitors, which might deter frequent traders seeking cost efficiency.
Offers a wide range of cryptocurrencies, providing extensive trading options.	Number of Cryptocurrencies	While Paybis supports popular cryptocurrencies, its selection is limited compared to larger exchanges, impacting traders looking for variety.
Extensive crypto-to-crypto pairings offer flexible trading strategies.	Crypto-to-Crypto Trading Pairs	Paybis has a moderate range of crypto-to-crypto trading pairs, but it lacks the depth found on platforms specifically designed for experienced traders.
Generally transparent with operational and security practices but could improve in fee structures.	Website Transparency	The Paybis website provides clear information about fees and policies, although some users might seek more detailed data on security practices and fund storage.
Bitfinex does not provide an exchange card for customers to use for in-store purchases.	Credit/Debit Card	As Paybis focuses on simplifying the cryptocurrency trading process, it currently lacks additional financial tools like a payment card, which could enhance the versatility and everyday usability of its platform for users.
Provides secure storage options including cold storage, though it’s complex for beginners.	Storage Offering	Paybis provides secure storage options, but it doesn’t offer as many advanced features like insurance or multiple signature options as some larger platforms.
Offers competitive staking options and rewards, enhancing user investment potential.	Staking and Rewards	Explanation: Limited opportunities for staking or earning rewards on Paybis may deter users looking to profit from holding cryptocurrencies.
Both platforms are robust and user-friendly, but the mobile app lacks some advanced features.	Mobile App and Desktop	The Paybis mobile app and desktop version are user-friendly and reliable, though they may lack some advanced trading tools found in more specialized apps.
Customer service is available but response times can be slow during peak times.	Customer Service	Paybis is highly rated for its customer service, offering quick and helpful support through multiple channels.
Efficient deposit methods; however, withdrawal policies can be restrictive and costly.	Deposit and Withdraw	Deposits and withdrawals are generally straightforward and quick on Paybis, but fees associated with these processes might be higher than at other exchanges.

Key features

Analysis tools

Advanced charting tools, multiple technical indicators, and APIs

No trading tools, primarily a buying platform

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, lending services, staking, Bitfinex Pulse (social network)

Instant crypto purchases, fiat on/off ramps, Paybis wallet, educational resources

Anonymity

Yes

Key points

Available cryptocurrencies

150+

Limited, primarily major cryptocurrencies

User-friendliness

Bitfinex provides a powerful platform with a user-friendly interface that caters to both beginners and advanced traders. While it offers advanced trading features, the platform is designed to be accessible and easy to use.

Paybis offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Provides reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for experienced traders and institutions looking for advanced trading features and a wide range of cryptocurrencies.

Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, EUR, GBP, JPY, BTC, ETH, USDT

USD, EUR, GBP

Account

Trading

Bitfinex is tailored for professional traders with its advanced trading features and high liquidity. It offers a wide range of cryptocurrencies but has had security breaches in the past, making some users cautious.

Paybis provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.

Deposit and withdrawal

Bitfinex supports a wide range of deposit options, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive, though high-volume users may benefit more.

Paybis provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

Bitfinex provides a straightforward and fully digital account registration process. Users need to submit personal details, verify their identity, and address. The process is quick, usually taking less than a day to complete.

Paybis offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

Bitfinex provides extensive support through email, live chat, and a help center. The response time is quick, and support is available 24/7, ensuring users get timely assistance.

Paybis offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

Security

Bitfinex provides extensive security features, including 2FA, cold storage, and encryption. It is regulated by several financial authorities, making it a secure platform for investors .

Paybis employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Bitfinex for traders seeking a diverse and dynamic trading environment. The platform’s extensive range of cryptocurrencies and crypto-to-crypto trading pairs is impressive, making it a great choice for those looking to explore different trading strategies. While the trading fees and customer service response times could see improvement, Bitfinex’s advanced trading features and robust security measures make it a reliable option for serious traders.

Xavier Tarrasó

As one of the experts here at our site, I’d like to highlight that Paybis is a solid choice for both new and seasoned cryptocurrency traders. Its user-friendly interface simplifies the trading process, making it accessible to everyone. While its fee structure could be more competitive, the range of payment options and exceptional customer service make it stand out. Whether you’re making your first cryptocurrency purchase or looking for a reliable platform for frequent trading, Paybis offers a secure and transparent environment to meet your needs.

View all comparisons against Bitfinex

View all comparisons against Paybis

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.