Yes, Paybis is a real crypto buying and selling service that says it was started in 2014, with a Latvian head office and group companies in the UK and US. Its own pages list EU, FinCEN and other registrations. The catches are that crypto transfers are generally irreversible, it says it isn't FCA regulated and its terms exclude US residents.
Crypto services come and go, so it's smart to check a company before you send it a card payment or a wallet address. I've read Paybis' about page, its homepage legal text and its terms of service, so here's what the company says about itself, and where I'd slow down.
Who runs Paybis and where it's based
Paybis says its founders started it in 2014. Its about page describes a platform to help you buy and sell cryptocurrencies using a variety of payment methods. The leadership listed there includes a named founder and chief executive, which is a good sign, because anonymous operators are what you want to avoid.
The page lists three group entities: SIA Paybis Europe in Latvia, which it names as its head office, Paybis LTD in the United Kingdom and PAYBIS USA LTD in the United States. The terms say the service is provided by SIA Paybis Europe, authorised and supervised by the Bank of Latvia, known as Latvijas Banka.
Licences and registrations Paybis lists
The homepage footer says Regulated in the US, Canada, and EU. It lists a Crypto Asset Service Provider authorisation under MiCA, a payment institution authorisation and a FinCEN Money Service Business registration. I'm reporting what the company states here, so if the status matters to you, check the register of the relevant regulator rather than taking any firm's word for it.
There's one line I'd read twice. The same footer says Paybis isn't regulated by the Financial Conduct Authority, and that investments in cryptoassets aren't covered by the Financial Ombudsman Service or protected by the Financial Services Compensation Scheme. If you're in the UK, that means the usual safety nets for bank and investment firms don't apply to this service.
How buying and selling works, and what can't be undone
Paybis is a place where you buy and sell crypto using card and other payment methods. To use it you must be at least 18 and complete registration, including its customer due diligence checks. Expect to prove your identity, and the terms say it can ask for more documents.
The important rule is in the terms: crypto-asset transfers are generally irreversible once confirmed on the relevant distributed ledger. If you type a wrong address or send to a scammer, there's usually no way to pull the money back. Check the address character by character and send a small test amount first if you're unsure.
The terms also say Paybis' material isn't investment, financial, legal, tax or trading advice, and that you carry sole responsibility for your trading decisions. I'm not giving advice either. Crypto prices can fall, so only use money you can afford to lose.
| What I checked | What Paybis' own pages say |
|---|---|
| Who founded it? | Its founders started it in 2014 |
| Where is the head office? | SIA Paybis Europe, in Latvia |
| Which regulator supervises the European arm? | The terms say the Bank of Latvia |
| US registration? | The footer lists a FinCEN Money Service Business registration |
| UK protection? | It says it isn't FCA regulated and FSCS and ombudsman protection don't apply |
| Are transfers reversible? | Generally not, once confirmed on the ledger |
| Minimum age? | 18 |
Who can use Paybis
The terms say the service isn't open to certain jurisdictions, and a long list of restricted countries is included. They also say the terms don't apply to a citizen or resident of the United States, or anyone located there. The company has a United States group entity, so US customers may be served under separate arrangements, but I haven't read those, so check the terms shown to you in your own country before signing up.
Fees, and what to read before you pay
Paybis publishes a help article on the types of fees it applies, and I'd read it before your first order. Fees on card purchases can be higher than on bank transfers at many services, and the amount you receive can differ from what you expected. Compare the final quote on screen with what you'd get elsewhere.
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If you're still choosing where to start, my overview of crypto exchanges, wallets and trackers explains the different kinds of service. And it helps to understand the difference between holding crypto on a service and holding it yourself. My guide to hot wallets and cold wallets covers that.
Crypto scams that use the Paybis name
Anyone who has crypto is a target, and big names get imitated. These are the ones I'd look out for:
- Never share your seed phrase or recovery words with anyone, ever. No real service needs them.
- Fake apps and lookalike websites: type the address yourself and use official app stores.
- Fake support staff who message you first on social media or messaging apps and ask you to move funds or install software.
- Anyone promising fixed returns or asking you to send crypto to release a bigger payout.
Use the support portal listed on the official site, not a number or username from a comment.
My verdict on Paybis
The service is legit in the sense that it's a real company with named group entities, a stated founding date and listed registrations, and it isn't hiding its identity. It still isn't risk-free. Crypto moves are hard to reverse, UK customers don't get the usual protections and US residents should check which terms apply to them. Verify the registrations yourself, start small and never share your recovery words.
Frequently asked questions
Is Paybis legit?
Paybis is a real company that says it was started in 2014, with SIA Paybis Europe in Latvia as its head office and group companies in the UK and US.
Is Paybis safe to use?
Its terms say transfers are generally irreversible once confirmed, so mistakes are costly. Its footer also says it isn't FCA regulated and that ombudsman and compensation scheme protection doesn't apply. Only use money you can afford to lose.
Who regulates Paybis?
Its terms say SIA Paybis Europe is authorised and supervised by the Bank of Latvia. Its footer also lists a MiCA authorisation and a FinCEN Money Service Business registration. Check the regulators' registers to confirm.
Can I use Paybis in the US?
The terms say they don't apply to a citizen or resident of the United States or anyone located there, although a US group company is listed. Check the terms shown to you.
How old do I need to be?
The terms say you must be at least 18, or the higher age of majority where you live, and complete its registration checks.
