PAYEER Exchange Review 2021
Payeer is an online multi-cryptocurrency platform designed to support the buying, selling, depositing, and withdrawing of cryptocurrencies. Additionally, Payeer supports the purchasing of goods and services from Payeer supported venders.
Currently, the Payeer platform supports 7 cryptocurrencies that include Bitcoin (“BTC”), Bitcoin Cash (“BCH”), DASH (“DASH”), Ethereum (“ETH”), Litecoin (“LTC”), Ripple’s XRP (“XRP”), and USD Tether (“USDT”).
Payeer also supports the deposit and withdrawal of fiat money and the trading of crypto-fiat and fiat-fiat pairings. Fiat currencies currently supported include US Dollar, Russian Ruble, and EUR.
Founded in 2019 and headquartered in Tallin, Estonia, Payeer is regulated by Vanuatu Financial Services Commission (“VFSC”) and by the MEAC.
The platform supports 177 countries around the world, facilitating fiat and crypto deposits and withdrawals.
- Brokerage Services & Payment Methods
- The Pros and Cons
- The Details
- Trading Platform
- Deposit & Withdrawal Options
- Fees and Charges
- Privacy and Security
- Supported Cryptocurrencies
- Payeer Wallets
- Customer Support
- Additional Information
Brokerage Services & Payment Methods
Payeer provides an online platform supporting the investing and trading of cryptocurrencies.
Investors can purchase cryptocurrencies on the Payeer platform by depositing EUR, Russian Rubles, or US Dollars. Investors and traders can also able to deposit already held Payeer supported cryptocurrencies to fund Payeer accounts.
For users looking to deposit fiat money, Payeer offers multiple deposit options including debit and credit card, Perfect Money, Advcash, and QIWI. Do note that deposit fees do vary.
Users who already own Payeer supported cryptocurrencies may transfer these to the compatible cryptocurrency wallets available on the Payeer platform.
The Pros and Cons
- Regulated: Payeer is regulated by VFSC and by MEAC.
- Customer Support: Users may contact customer support by raising a support ticket. Responses are given within 24-hours.
- Fiat Money: Users may deposit and withdraw supported cryptos and EUR, Russian Ruble, and U.S Dollars.
- Global Reach: Payeer supports 177 countries worldwide.
- Mobile Compatible: Payeer app is compatible for Android and IOS smartphones.
- Simple Registration Process: It takes a matter of minutes to register. Users may make withdrawals of up to $999 until the verification process is complete.
- Low Commissions: Commissions are competitively low at 0.095%.
Other positives include
- Business and individual solutions: Payeer is ready to provide payment services for personal and business needs.
- High Focus on Security: Appropriate security settings available for users to protect account details and assets. 2FA is a second layer of security available along with other options, including phone binding.
- Referral Program: Up to 25% off all transactions, with 6 levels of referrals.
- Payeer currently only supports 7 cryptocurrencies. These are among the largest cryptos by market cap, however, with a wide range of trade pairings on offer.
- Currently, the platform only supports English and Russian languages.
Payeer supports the investing and trading of cryptocurrencies. In addition to providing traders with crypto-crypto pairings, Payeer also offers traders crypto-fiat money and fiat-fiat pairings to trade.
Investors looking to purchase Payeer supported cryptos can either deposit already owned cryptos and exchange or deposit EUR, Russian Ruble, or U.S Dollars in order to purchase cryptos.
Payeer currently supports Bitcoin, Bitcoin Cash, DASH, Ethereum, Litecoin, Ripple’s XRP, and USD Tether.
Investors can purchase supported cryptos via the “Trade” platform by either depositing U.S Dollars, Russian Ruble, or EURs or pre-owned Payeer supported cryptos.
For traders, Payeer offers traders a wide range of crypto-crypto and crypto-fiat money pairings as well as fiat-crypto pairings via its Payeer “Trade” page.
Trade pairings on offer as follows:
BTC-USD, BTC-RUB, BTC-EUR, BTC-BCH, BTC-DASH, BTC-ETH, BTC-LTC, and BTC-XRP.
Bitcoin Cash Pairings:
BCH-USD, BCH-RUB, BCH-EUR, BCH-BTC, BCH-DASH, BCH-ETH, BCH-LTC, and BCH-XRP.
DASH-USD, DASH-RUB, DASH-EUR, DASH-BTC, DASH-BCH, DASH-ETH, DASH-LTC, AND DASH-XRP.
ETH-USD, ETH-RUB, ETH-EUR, ETH-BTC, ETH-BCH, ETH-DASH, ETH-LTC, AND ETH-XRP.
LTC-USD, LTC-RUB, LTC-EUR, LTC-BTC, LTC-BHC, LTC-DASH, LTC-ETH, and LTC-XRP.
Ripple’s XRP Pairings:
XRP-USD, XPR-RUB, XPR-EUR, XRP-BTC, XRP-BCH, XRP-DASH, XRP-ETH, and XRP-LTC.
USD Tether Pairings:
USDT-USD and USDT-RUB.
For investors looking to simply purchase or exchange supported cryptos and fiat money, the Exchange page provides a simple to use currency exchange platform to buy and sell cryptos and fiat money.
The Payeer exchange page allows investors to buy and sell supported cryptos with either EUR, Russian Ruble or U.S Dollars. Investors may also interchange Payeer supported cryptos and fiat money.
The Payeer platform provides investors and traders with charts, which include opening price, low, high, and close price.
Chart time periods available include 12-hours, 1-day, 3-days, 1-week, 1-month, and All.
Charts are available for viewing on the Trade page and users have access to two formats, these being “New” and “Old” as shown below:
As shown below, additional information within the new chart format includes last price, 24-hour price and percentage change, 24-hour high, and 24-hour low.
Trade pairings can be selected by using the dropdown menus to the left of the chart.
As shown below, information within the “Old” chart format includes last price, bid price, and asking price.
Within the “Old” format, users may select their preferred trade pairing within the chart as shown below. There is also a live chat to share trading ideas and market views.
Balances and Trading History
Payeer provides traders and investors with all the necessary data needed to view current balances, active positions, and historical activity.
Crypto and Fiat Account Balances
Within the “Balance” page, users may view individual wallet balances. Users may either view all account balances on one page or view individual fiat or cryptocurrency balances as shown below:
The “History” page provides users with a detailed breakdown of all historical transactions. Information provided includes Data, Credit, Debit, PS, ID, and Status.
To make it easier for users to analyse the information, users may export the data to CSV.
Users may also filter transactions by cryptocurrency or fiat money type as shown below:
Finally, traders and investors may also view historical trades and orders on the “Trade” platform. Here you may also view all executed trades across the Payeer network.
Information provided includes time of the trade, trade price, amount purchased, and value. The history provided is based upon the trade pairing selected.
For demonstrative purposes, we have selected the BTC-USD pairing. Price and value are shown in USD, with amount in BTC, as shown below:
Finally, there is also a “Balance” snapshot that is available on each of the Payeer pages.
Simply click the arrow, as shown below, to view a balance summary of each of the accounts. A total is also provided in USD.
Payeer Platform Attributes
Key attributes of the Payeer platform include:
- Very fast and easy registration process.
- Supports the deposit and withdrawal of cryptocurrencies and fiat money.
- Multiple deposit options including fiat deposits by credit card.
- Input and Output by bank cards from 177 countries.
- Instant inter-Payeer account transfers.
- Low commission fees of 0.095%.
- An easy-to-use platform accommodating both novice and more experienced traders.
- KYC and AML compliant.
- European License for the exchange of cryptocurrencies.
- Withdrawals are capped at USD999 until completion of the verification process.
- Emphasis on security allowing users to protect account details and assets.
- Customer support with response times of between 1-24 hours.
Payeer provides investors and traders an effective and simple way to invest and trade in cryptos.
Investors and traders can enter into buy and sell orders in one of two ways:
Exchange is an instant currency exchange where investors may convert already held fiat to crypto, fiat to fiat, or crypto to crypto.
In order to carry out a currency exchange, go to the “Exchange” page. Then select the account you wish to debit and the account you wish to fund from the respective dropdown menus.
For demonstrative purposes, we have chosen Bitcoin (“BTC”) and EUR as shown below. The exchange rate is the prevailing exchange rate at the time of exchange, which is provided once you have selected your exchange pairing.
Enter the amount of Bitcoin that you wish to have debited from your Bitcoin account and then click “Exchange”.
Upon clicking the “Exchange” icon, your Bitcoin account will be debited and your EUR account credited instantaneously.
For users looking to trade, the “Trade” page provides traders and investors the platform to trade crypto-crypto, crypto-fiat, and fiat-fiat trade pairings.
From the dropdown menus on the top left hand side of the “Trade” page, select the pairing that you wish to trade.
For demonstrative purposes, we have selected BTC/EUR. Note that the price graph and transaction histories will reflect BTC/EUR trades.
Below the price graph, you may then select your order type. At present, users only select Limit Order. Users will soon be able to also place a Market Order or a Stop Limit Order.
To buy/sell Bitcoin, enter the number of Bitcoin that you wish to purchase/sell and then click the “Buy” or “sell” button.
You are given the price per Bitcoin in EUR and the total amount due to be paid in EUR once you have entered the information. Please note that the trade fee is a flat 0.095% as shown below:
Once you have placed the order, the trade will appear in your “My Orders” section found on the top left hand side of your “Trade” page.
Key features of the Payeer platform include:
Trade: A simple to use interface for investors and traders, where users can trade Payeer supported trade pairings.
Exchange: An instantaneous currency exchange platform allowing users to exchange crypto for crypto, fiat for fiat, or fiat for crypto or vice versa.
History: Provides a detailed history of all trades carried out on the Payeer platform and users may also view “My History” and “My orders”.
Balance: Users are able to view their individual account balances and total balance.
Add: Allows users to deposit both fiat money and crypto currencies.
Balance: Users may deposit and withdraw fiat money and cryptocurrencies from the individual user accounts.
Transfer: The “Transfer” page allows users to transfer funds between Payeer accounts.
Payeer users can earn income through the referral program.
By promoting your own personal link online, users can get up to 25% of the revenue from Payeer fees. Payeer allows users to withdraw funds immediately using a variety of methods.
See affiliates page here.
SUPPORT: Users are able to raise a support ticket in order to resolve any issues or address any queries. Customer support responds within 24 hours.
Deposit & Withdrawal Options
For investors and traders looking to deposit or withdraw funds, Payeer allows deposits and withdrawals in cryptocurrencies or EUR, Russian Ruble or US Dollars.
Fiat money deposits: Users may make deposits by way of:
- Bank Cards: Visa, Mastercard, and Maestro.
- Perfect Money.
For demonstrative purposes, we have selected to deposit EUR and Visa card as payment method.
In order to make a deposit, go to the “Add” page and select your EUR account from the “Choose Account” dropdown menu.
Choose Visa from the “Choose System” dropdown menu. Please note that the deposit fee is 3.99% for Visa bank card deposits.
Enter the amount of EUR that you wish to deposit and then click “Add”. There is maximum per transaction deposit of €7,500.
When you have entered the amount that you wish the transfer, the Total Amount is auto-populated and includes the deposit fee. See below:
Once you have clicked “Add”, review the deposit details and then click “Confirm”, where you will be redirected to the “Payment” page.
Enter your card details and then click “Pay”.
Alternatively, you may make a deposit by going to the “Balance” page and clicking on “Deposit” for the account you wish to fund. This will redirect you to the “Add” page so that you can complete the transaction as outlined above.
Users may withdraw also withdraw fiat money in either EUR, Russian Rubles, or US Dollars by way of the following payment methods:
- Mastercard Int.
- Ukrainian Bank
In order to make a fiat money withdrawal, go to the “Balance” page and click “Withdrawal” on the account that you wish to withdraw from.
For demonstrative purposes, we have chosen U.S Dollars and Mastercard.
Select the payment method form the “Choose System” dropdown menu and enter the card number that you wish to fund.
Enter the amount and then click “Send”. Note that the total shown includes the withdrawal fee.
Please also note that there are certain limitations for Mastercard withdrawals. These include:
- Minimum $10 or €10 withdrawal.
- Maximum $1,300 or €1,150 withdrawal per transaction.
- Daily card withdrawal limit of $4,800 or €4,800 per card.
- Monthly card withdrawal limit of $20,000 or €20,000 per card.
- Transfers can take up to 10 business days.
Payeer allows the deposit and withdrawal of Payeer supported cryptocurrencies.
Users can make deposits and withdrawals from the Payeer “Balance” page as shown below:
In order to make a crypto deposit, you may either go to the “Add” page or the “Balance” page.
For demonstrative purposes, we are depositing Ethereum via the “Add” page.
Go to the “Add” page and select the crypto you wish to deposit from the “Choose Account” dropdown menu.
Copy your unique Payeer wallet address and transfer your chosen amount of Ethereum from your external wallet.
While there are no fees for crypto deposits, there are minimum transfer amounts.
Once your account has been credited, the Ethereum balance will be updated accordingly.
(In order to avoid making an error in entering the address details, it is recommended that you copy the address to transfer from your private wallet to your Payeer wallet).
For withdrawals, traders and investors are able to withdraw cryptocurrencies by transferring out from your Payeer wallet to compatible external wallets.
In order to withdraw your cryptocurrency, go to the “Balance” page and select the account from which you wish to withdraw your cryptocurrency and click “Withdraw”.
Enter the wallet address that you wish to transfer your crypto currency to, enter the amount, and then click “Send”.
Please note that there are minimum and maximum withdrawal amounts as shown above.
To open an account, go to the Payeer homepage and click on the “Create an Account” icon as shown below:
Enter your email address, as prompted
Confirm your email address by entering the verification code sent to your email address and by clicking “Create Account”.
Upon creation of your account, you are then provided with your account password, secret code, and account name. Keep these in a safe place. You can change the details if preferred.
Now enter your name and select your country of residence and click “Next”.
Upon completion of step 3 of the account creation process, you are then directed to the Payeer platform as shown below:
Please note that you have yet to complete the verification process. Payeer’s AML/KYC policies restrict withdrawal limits to USD999 or equivalent until the verification process is completed.
In order to complete the verification process, go to the dropdown menu located to the right of your account number:
Click the “Go” hyperlink alongside Verification and enter the information prompted, as shown below:
Some additional security options are available during the verification process include:
Mobile phone Binding: Upon entering your mobile phone number, you have the option to bind your mobile number.
Once you have completed the information click “Verification”
You will then need to provide a scanned copy of your passport or ID and proof of address as shown below:
Please note that the document used for proof of address must not be older than 90 days.
Once you have uploaded documents, you will receive a notification stating “documents successfully sent for checking”.
Until the verification process is complete, the daily withdrawal limit of USD999 will remain in place.
At this point, we also recommend that you set up an additional security layer to protect your account details and assets.
Go to the dropdown menu alongside your Account No and click the SMS Security “Off” icon.
Here you can set additional security measures. These include:
- Send verification code when sub-net, or IP address changed or both.
- Incoming Payment Notifications: Send to email or send via SMS and set minimum amount for notification.
- Restore passwords: Choose method of sending code. Options include email, SMS, Telegram.
- Master Key – You have the option to enable Master Key.
Upon completion, click “confirm”.
Post Registration Deposit
At this stage, you will now need to make a deposit to begin trading and investing.
You have the option to deposit U.S Dollars, Russian Ruble, EUR, or Payeer supported cryptocurrencies.
Go to the “Add” page and select the account into which you wish to make a deposit. See below:
For demonstrative purposes, we have chosen to deposit U.S Dollars.
Select your preferred payment method from the “Choose System” dropdown menu.
Please not the fees that vary depending upon the payment method chosen.
For demonstrative purposes, we have chosen to deposit with Visa. Please note that the maximum visa deposit per transaction is capped at $7,500, €7,500 or ₽100,000.
Payeer accepts cards from 138 countries. Countries excluded include: USA, Canada, Japan, New Zealand, Mexico, India, Afghanistan, Colombia, Angola, Chad, Congo, Cuba, Palestine, Nigeria, Rwanda, Zimbabwe, Syria, and some others.
Enter the amount that you wish to deposit and click “Add”.
Once you have clicked “Add”, you will then need to review the deposit details and then click “Confirm”.
You are then redirected to the Visa Payment Page. Enter your card details and click “Pay”.
Once you have completed your deposit and funds have reached your Payeer account, you can begin trading and investing into cryptos.
Fees and Charges
Payeer has a dedicated page providing users and prospective users with a detailed breakdown of all relevant fees. Fees are provided for both personal and business Payeer account holders.
There are no hidden fees embedded within coin prices.
Platform fees are summarized below:
Deposit and Withdrawal Fees
For Deposits and withdrawals of Payeer supported cryptos, there are no fees in order to fund Payeer supported crypto wallets.
Deposit Fees for Fiat Money
Fees for deposits vary depending upon preferred method to make a deposit.
Deposit Fees for Cryptos
As shown below, there are no fees for the depositing of cryptocurrencies.
Withdrawal Fees for Fiat Money
As shown below, fees for withdrawing fiat money varies depending upon preferred method of withdrawal.
Cryptocurrency Withdrawal Fees
As shown below, there are no fees for the withdrawal of cryptocurrencies.
Privacy and Security
Payeer delivers traders and investors with a multi-tiered security platform.
2-Factor Authentication (2FA): 2FA is in place, with phone binding also available for users to maintain necessary security protocols.
Regulatory Compliance: Payeer is a regulated by VFSC and MEAC. Appropriate AML/KYC policies are in place to meet all regulator requirements. There is a dedicated AML/KYC page with full details of Payeer policies.
Payeer gives investors and traders access to the most popular cryptos in the market place.
These include Bitcoin (“BTC”), Bitcoin Cash (“BCH”), DASH (“DASH”), Ethereum (“ETH”), Litecoin (“LTC”), Ripple’s XRP (“XRP”), and USD Tether (“USDT”).
To trade crypto-crypto, fiat-fiat, or fiat-crypto pairings, go to the Payeer “Trade” page. Select the preferred pairing from the dropdown menus located at the top left of the “Trade” page as shown below:
Alternatively, users may also exchange fiat money or cryptos by going to the “Exchange” page as shown below:
Users may view their crypto and fiat money wallets on the “Balance” page as shown below:
From here, users may deposit and withdraw fiat money and cryptos as well as check balances.
There are no fees for depositing or withdrawing cryptos from Payeer wallets. This enables users to easily move cryptos between external wallets and Payeer wallets.
Users may also deposit and withdraw Payeer supported fiat currencies from the respective wallets. Please note that deposit and withdrawal fees vary depending upon payment method selected. See Fees and Charges sector for more the fee breakdown.
Payeer provides customer support 24-7. Users may raise a ticket Via the “Support” page and the Payeer customer support team will respond within 24-hours.
Some of the more frequently asked questions available on Payeer include:
In order restore your password and Master Key: Go to the forgotten data recovery page:
- Enter your account number, email or phone number you used to create your account with.
- The new password is not sent to your email or phone, so please save it after creating. You will receive the master key only (if you set it in the account settings).
Limits and restrains
- There are no limits to the number of transactions within the system.
- In several countries there are limits per one transaction according to the current legislation.
- All other transaction limits are stated here https://payeer.com/ru/account/send/ (in the “transfer” section).
Funds Disappeared or account was hacked
Most likely your computer is affected by Trojan. The stolen funds are withdrawn from the system by the hackers immediately as general, thus it is usually impossible to return them.
Please do not use the same password for your Payeer account and other sites.
- Change password to your account https://payeer.com/ru/account/settings/?tab=updatepass
- Set the authorization confirmation with telegram (free) or SMS (0.05USD per SMS) and turn on the master key that was sent to your email when creating the account:
- Change your email password and set two-phase authorization.
- Check your computer for software viruses
- Turn off all extensions (including flash and java plugins) for the browser you use for Payeer.
Please note that as long as you use Windows OS or login with Android your account can be hacked at any time, regardless whether you have antivirus software or not. For the safe work with your electronic wallets and banks we strongly recommend you to purchase another PC and set the Ubuntu or MAC OS.
99% of viruses and Trojans can affect Windows OS only. This is the most trustworthy and very effective way to avoid hacking.
For all other questions, please raise a new ticket.
While Payeer is a relatively new player in the crypto space, the platform is simple to use and has an extensive global reach.
Supporting both fiat and crypto deposits and withdrawals, users can trade and exchange both fiat and digital currencies.
Covering the largest cryptos, by market cap, Payeer is an ideal platform for investors and traders looking to gain exposure to the crypto world.
Low fees and appropriate KYC/AML and security measures are also positives for those looking for a trustworthy and regulated platform.
PAYEER ExchangeUser Reviews
- Bitcoin Cash
- Cape Verde
- United Kingdom
- Sri Lanka
- Burkina Faso
- Faroe Islands
- Solomon Islands
- Puerto Rico
- Russian Federation
- Saint Lucia
- Trinidad and Tobago
- South Sudan
- South Korea
- Virgin Islands, British
- Saint Kitts and Nevis
- Saint Vincent and the Grenadines
- Papua New Guinea
- Vatican City
- Cote d'Ivoire
- New Caledonia
- Dominican Republic
- Bosnia and Herzegovina
- Hong Kong
- Equatorial Guinea
- Sierra Leone
- Marshall Islands
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