Payeer is among the most popular electronic payment platforms in the market. Established in 2019, Payeer allows users to buy, sell, deposit, and withdraw cash and cryptocurrencies.
Also, it supports the purchase of goods and services from Payeer supported merchants both locally and internationally.
Have you used Payoneer or Paypal before? Then you will find this platform quite easy to use. Payeer utilizes the same operating principle, so you can learn to use it within minutes. Perhaps that is one reason it has become one of the leading e-wallets today.
In this review, we will cover all the aspects of the electronic wallet. This way, you can figure out if it’s the right platform for you.
Without delay, let’s dive in.
Pros and Cons
Pros
- Users can trade and exchange cryptocurrencies
- Regulates by VFSC and MEAC
- A global reach of 117 countries across the world
- Compatible with mobile devices
- Competitive commissions
- High focus on security and privacy
Cons
- Irreversible transactions
- Lack of transparency in fees
Accounts Types
Payeer allows you to choose between two types of accounts: Personal and Business accounts. The account you choose will affect the fees and features you’ll enjoy.
If you opt for a personal account for your transactions, you will enjoy low fees and access to most features offered by the platform. The accounts also support international payments.
A business account varies a little from a personal account in terms of fees and taxes. Nevertheless, you’ll be able to transact money both locally and internationally. The extra fees and taxes prevent account users from using it for money laundering.
Currencies and Trading
Payeer was designed to support cryptocurrencies transactions. The platform supports seven cryptocurrencies. They include:
- Bitcoin
- Ethereum
- Bitcoin Cash
- Dash
- Litecoin
- Tether
- Ripple
The platform allows users to deposit and withdraw fiat money. Also, they can trade crypto-fiat and fiat-fiat paring, including US Dollar, Euro, and Russian Ruble.
Once you open an account with them, you buy and sell crypto, conduct internal transactions, make payments, and trade.
What’s even better, the e-wallet offers you several international payment methods to deposit and withdraw cash.
When it comes to trading, the platform delivers excellent service. Although it’s easy to trade cryptos, not every e-wallet out there that allows users to trade.
Users can buy the various cryptocurrencies on the Payeer by depositing US Dollars, EURO, or Russian Rubles. They can then sell them when they need to make some cash.
Deposits and Withdrawals
As we said above, Payeer supports several payment options. You can deposit fiat currency using the various methods, including:
- QIWI
- Perfect Money
- Visa, Maestro, and Mastercard
- Advcash
Keep in mind the deposit fees vary depending on the methods used. Deposit of crypto is free, and there are no limits on transfer amounts.
You can cash out fiat currency via the following methods:
- Perfect Money
- Ukrainian Bank
- MasterCard Int
- Payeer
- Advcash
There are certain withdrawal limitations with each method. So be sure to check them out. You can withdraw crypto by transferring them out of Payeer wallet to other compatible wallets.
Fees
You don’t need to be a genius to under-relevant fees on the Payeer website. You don’t incur any account opening fees or monthly maintenance fees. The only charges you’ll get charged include internal transfers, API, currency conversion, and trading operations.
There are no fees for depositing and withdrawing supported cryptocurrencies at Payeer official websites. However, you might incur some charges when depositing and withdrawing fiat currencies. But the fees vary depending on the method used.
Customer Support
Users can contact the Payeer customer support team by creating a ticket via the site’s support page.
A customer service representative will respond within 24 hours. The customer support is available 24/7.
Conclusion
As we conclude our review, one thing is clear: Payeer has gained traction not only in Europe but also across the world. This is because it offers users several ways to pay and supports other systems.
However, it’s not free from drawbacks. Some users reported withdrawal issues, while others had a problem with the lack of transparency in fees.
That said, Payeer is a trustworthy multi-currency platform convenient for individuals who wish to buy, sell and trade cryptocurrencies.
