Payeer Exchange is a trading platform launched by the payment system of the same name. PAYEER Exchange allows you to exchange a number of popular cryptocurrencies one for another or buy / sell for fiat. The exchange account is linked to the user’s wallet account in the Payeer payment system. Supported cryptocurrencies: Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Tether, etc. There are applications for Android and iOS. The interface of the site is not overloaded with functions and is intuitive even for a beginner.
Exchange page – https://payeer.com/ru/trade/.
The editorial staff of Btcnewsweb.com offers an overview of the Payeer crypto exchange, its advantages and disadvantages.
Read also: Top 25 Cryptocurrency Exchanges for Trading.
|Exchange name||PAYEER Exchange|
|Company||Fincana Limited и Paycorp Limited|
|License||European Branch (Fincana Limited): Virtual Currency Service License # FVT000136 (Estonia) and Pacific Branch (Paycorp Limited): Financial Services Commission (VFSC) License # 15068 (Vanuatu)|
|Services||Spot trading, a wallet for electronic money and cryptocurrencies, buying / selling cryptocurrencies|
|Mobile app||Available (Android, iOS)|
|Working with fiat money||Yes|
|Verification||Not required. Affects the withdrawal limit (for unverified accounts: 999 USD per day)|
|Account protection||Two-factor authentication, authorization logs, master key|
|Commission for deposits and withdrawals||Depends on the deposit method|
|Cryptocurrencies||BTC, ETH, LTC, XRP, DASH, USDT, BCH|
|Fiat money||USD, EUR, RUB|
|Deposit and withdrawal methods||Cryptocurrencies, bank cards, e-wallets, cellular operators, etc.|
|Types of orders||Limit (in the plans – market and stop limit)|
Registration and verification on the Payeer crypto exchange
The creation of an account on the PAYEER Exchange also implies the creation of a wallet in this system. At the same time, if you already have a wallet, then you have access to the trading platform. For registration:
- Click the green “Create Account” button on the home page.
- Enter your email address and click “Create Account” again.
- A confirmation code will be sent to your email. You must enter it in the proposed field. But you can also skip this step by clicking “Continue without confirmation”.
- The service will generate your password, secret code and account name. Save all this data in a safe place.
- Enter your first name, last name and country of residence.
After that, you are immediately taken to the wallet.
As for identity verification, you can trade without it. But if you wish, you can go through it in order to expand the withdrawal limits. For unverified users, the limit is $ 999 per day. There are two confirmation options – “Personal”, which removes this limit, and “Business”, designed specifically for legal entities.
Verification is carried out in the profile https://payeer.com/ru/account/settings/?verification
You will need to enter your data, and after clicking the “Verification” button, upload the documents:
- a scanned copy or photo of an identity card: passport, international passport, driver’s license or military ID;
- a scanned copy or photo of the registration page in the passport or another document that can confirm your place of residence (for example, a receipt for housing and communal services).
Documents of citizens of the USA and some Arab countries are not accepted. After downloading the data, you will have to wait 1-2 days for it to be verified. Approval or rejection notification will be sent by email.
The PAYEER Exchange is available in the “Exchange” section from the left menu. Its interface includes:
- On the left is the buy and sell order book. All currently created limit orders that are awaiting execution. Directly above them are drop-down lists for pair selection.
- In the center at the top – a graph of the rate of the selected currency pair. You can customize the display for 12 hours, 1 day, 3 days, 1 week, 1 month, or as long as possible. You can also switch between the old and new chart views.
- In the center at the bottom – the section for creating orders. Here you select the type of order (at the end of 2020 only limit orders are available), enter the volume of the transaction, the price.
- Top right – a chat where users communicate with each other on free topics.
- Bottom right – the history of completed orders (you can switch tabs to view your personal transactions).
Using the top toolbar, you can turn on a dark or light theme, change the language, view notifications, contact support.
How to top up the balance and withdraw money
Cryptocurrencies available on PAYEER Exchange: BTC, ETH, DASH, USDT, XRP, LTC, BCH. Fiat currencies: USD, RUB, EUR
To replenish your account, you need to go to the “Replenishment” section in the left menu, having previously selected the desired currency or cryptocurrency from the drop-down list at the top. Then choose the appropriate payment option (for fiat). Pay attention to commissions. Additional terms on commissions and limits are indicated on the right, they are individual for each specific method. Then click “Top up” and follow the instructions of the payment system.
Cryptocurrency accounts are replenished by transferring the required coins to the specified unique wallet address. Commissions and limits are also indicated on this page. There are no fees for crypto replenishment. For USDT, ERC-20 and OMNI addresses are supported.
Withdrawal of funds is carried out from the “Transfer” section. Before that, you also need to select the desired currency at the top. Next, a withdrawal method is selected for fiat. There are quite a few of them, and each has its own conditions, which you will see on the right when you choose the method that suits you.
For cryptocurrency, you will need to insert the wallet address to which you want to transfer funds. The transaction can take up to several hours, it depends on the workload of the blockchain.
When withdrawing, it is possible to create payment templates in order to quickly select ready-made options from the list in the future. You can also link any VISA / MasterCard / Maestro / MIR bank card for quick replenishment or withdrawal.
How to trade on the Payeer exchange
To trade on PAYEER Exchange, you need to create an account and replenish your account in any convenient way, including: cryptocurrencies, cards, banks, payment systems, mobile operators and even cash. In this case, you can replenish the dollar wallet in rubles, they are automatically converted at the rate, the same applies to other currencies.
After funding your account, go to the section https://payeer.com/en/account/trade/, select the desired currency pair at the top left.
Proceed to create an order. At the moment, only a limit order is available for use. This means that you yourself specify the price for the cryptocurrency. An order with the specified price enters the order book and waits until a counter offer appears. Then the deal is made and the purchased currency is credited to your balance.
The commission for each trade is 0.095%, which is below the market average.
The referral program on the Payeer exchange includes several levels that open as you reach a certain level of earnings. At the minimum level, the user receives 10% of the commissions of the attracted users, at the maximum – 25%. To go to the second level, you need to earn at least $ 100 on referrals.
Withdrawal of funds is instant. On the page https://payeer.com/ru/account/referrals/ you can see your partner level, copy referral links, see a list of referrals with the registration date of each and the amount of profit from it.
Read also: list of exchanges with affiliate programs.
Advantages and disadvantages
✅ Verification is not required for trading.
✅ Low trading commission.
✅ Cryptocurrency deposit without commission.
✅ Nice interface, two types of color themes.
✅ Full Russification.
✅ There is a Russian-language chat for users.
❌ Only one type of trade orders.
❌ Low liquidity and narrow choice of currencies.
❌ Lack of any background information.
❌ High commissions for deposits or withdrawals in fiat money.
The Payeer exchange should not be perceived as an independent tool, but as an addition to the wallet. In some cases, you can use it, it is convenient when you urgently need to make an exchange and there is no desire to withdraw money from the wallet and go to a third-party exchange, and then start funds back. But for constant active trading, this option is hardly suitable – the trading functionality is very limited. However, judging by the fact that it is planned to add new types of orders, the exchange will develop and in the future can pass in much more conveniently and acquire full functionality.