Payeer has been on a steady rise recently as a platform that doesn’t discriminate!
In a world of ever growing demand for digital assets, those who offer services for both crypto and fiat are extremely convenient. Payeer is such platform that offers diverse financial services with competitive fees. These services include both cryptocurrencies and fiat currencies.
Here at HiExchange, we offer exchange services for Payeer USD so that our users can anonymously exchange their assets.
Payeer the Estonian Warrior
First and foremost, Payeer is considered an online digital wallet for better asset management. Be it crypto of fiat, the payment processor is quick, reliable and cheap. In that regard, in a short lifespan of almost 8 years, Payeer is now recognized as one of the very best amongst competitors. Payeer utilizes built-in payment services with giant financial services such as Mastercard, VISA and PayPal.
As of 2021, the Payeer has approximately 7 million users which can transfer funds to each other with extremely low fees. The strength however, lies in diversity. Payeer is far ahead of any similar platform in terms of scale of operation and diversity in supported payment methods. With more than 50 payment approaches, the Payeer wallet offers users various services in one place.
All transactions made on Payeer are irreversible. A feature that minimizes the possibility of malicious attacks or unwanted third party interference. Furthermore, they offer 24/7 support for users.
Functions and Utility
On top of being a wallet, Payeer is also a registered cryptocurrency exchange. Users can buy, sell and trade the supported cryptocurrencies on Payeer without the need for a third-party. When they are finished making those stonks, they can simply withdraw and receive cash from an ATM machine.
They offer a 6-step affiliate program that is practical and has the potential to bring noticeable income for the user. It can reward the user with up to 25% of the charged fees by the platform to the affiliate user. Learn about our own affiliate program.
Utilizing the diversity in services, Payeer can offer financial solutions for both individuals and institutions. An advantage that is considered as the primary cause for the rapid growth.
Payeer Fees
To begin with, transferring funds into another Payeer account is free of charge. To transfer outside the platform however, the receiver pays a 0.95% transaction fee. For currency conversion, for example, USD to EUR, there is a 2% fee which is very competitive. In terms of bank transfer deposits, there will be between 0% to 3% fee and for withdrawals, the fee is between 3-5%. As for credit card payments, there is a designated 3% fee. password recovery service could cost you $50.
Payeer Shortcomings
We pointed out many of the advantages and benefits of the platform. However, there are some cons that the users might want to consider.
First of all, Payeer is regulated by VFSC and the MEAC which are responsible to oversee financial services in Estonia. In that case, the platform does not offer as much anonymity as cryptocurrency services. A solution for this flaw can be using HiExchange services.
The regulations and policies can potentially cause problems for financial operations on large scales. There are certain limits in transactions.
Perhaps the most common criticism of Payeer is the limited list of supported cryptocurrencies on the platform. This is an issue that the company has stated to be following closely. We can expect the list to expand in the future but as of now, the supported cryptocurrencies are limited.
Conclusion
As a diverse and affordable platform, Payeer has managed to prove utility and bridge the gap between cryptocurrencies and fiat currencies. The platform offers a vast number of financial services and is also a crypto exchange. Considering the variety of services as well as the low fees, one could safely assume a bright future for the platform. In terms of cons, the supported cryptocurrencies on the platform will surely grow in number. For strict regulations and policies, there are third-party methods to overcome some of the challenges.
All in all, Payeer is a great digital financial platform that is trustable, affordable and highly practical.
HiExchange
HiExchange is a decentralized online platform to exchange your cryptocurrencies and e-currencies. We utilize an automated system to determine the best exchange rates at any moment. Furthermore, HiExchange does not require KYC or a sign-up process. Backed by 24/7 customer support, our great reviews on OkChanger and Trustpilot is a testament of our good will. We are on Bestchange and are always amongst the top exchanges.
To learn how to exchange your cryptocurrencies to PayPal you can read our instructional article.
For more instructional content, you can always visit HiExchange Blog
