As the prices of Bitcoin (BTC) and major altcoins rise, pressure on exchange services increases. This is how platforms address increasing traffic and new requirements.
As the prices of Bitcoin (BTC) and major altcoins rise, pressure on exchange services increases. This is how platforms address increasing traffic and new requirements.
Bitcoin (BTC) Bull Market Accelerates: New Challenges for Exchanges
Bitcoin (BTC), the largest cryptocurrency, is up more than 175% since January 2023. Some of the largest altcoins are demonstrating even more impressive gains. As a result, the number of active accounts and transaction count increased by 2 to 3 times.
While net positive for the cryptocurrency segment, such a rapid increase in blockchain activity results in increasing pressure on the Web3 infrastructure, the blockchains themselves, and exchange services.
Rushing into the most overheated phases of a bullish rally, highly regarded cryptocurrencies are upgrading their infrastructure and range of services to satisfy a new generation of committed and charged investors. When prices skyrocket, all categories of clients are interested in fast cross-asset conversion, a wide range of supported assets, reliable 24/7 support, and optimized on- and off-ramps of crypto to fiat.
Veteran cryptocurrency exchange Paybis attempts to address all the challenges of the bull market, offering a high-performing cryptocurrency to fiat conversion platform with a clear interface, multiple payment methods for fiat users, and a stellar reputation in several regions around the world.
Paybis improves the services offered to customers
By the end of Q4 2023, Paybis offers secure exchange between cryptocurrencies and the world’s major fiat currencies. With PaybisUsers can seamlessly purchase Bitcoin (BTC) with euros, US dollars, Canadian dollars, British pounds, Swiss francs, and dozens of other Asian and Latin American currencies.
In addition to Bitcoin (BTC), Paybis supports an incredible stack of altcoins: the largest smart contract platform, Ethereum (ETH), major Bitcoin forks, Litecoin (LTC) and Bitcoin Cash (BCH), the trending meme coins Dogecoin (DOGE) and Shiba Inu (SHIB), prominent DeFi tokens Aave (AAVE), Sushi (SUSHI) and Uniswap (UNI), next-generation AI cryptocurrencies Fetch.AI (FET), Ocean Protocol (OCEAN), etc. . In total, more than 50 different cryptocurrencies are supported.
Then, to ensure frictionless transfer of value, the platform added many fiat top-up methods. Paybis supports credit card payments, bank transfers (electronic payments) from accounts in certain jurisdictions, transfers from digital payment processors Skrill, Giropay, AstroPay and Neteller.
The platform ensures global coverage of more than 180 countries and 48 US states. In the US it is registered as a money services business with the Treasury Department of FinCEN with registration number MSB 31000224635628. In addition, the team obtained a VASP license to operate in the EU region in a fully compliant manner. Despite draconian regulation on cryptocurrencies, EU countries remain of utmost importance for global Web3 adoption.
In recent months, the Paybis team has been busy investing heavily in the technological development and fulfillment of its services. That is, it successfully activated state-of-the-art AI-backed anti-fraud software to prevent user assets from ending up in the wrong hands. Its strong and experienced compliance team is focused on maintaining security, along with more than 100 dedicated specialists capable of covering the sustainability of operations.
Beginner-friendly crypto to fiat conversion platform
Since the start of its operations in 2016, the exchange prioritized maximum ease of use and simplified the UX/UI to meet the needs of various customer groups. As such, in 2024, you will be able to buy BTC with USD in literally three steps after registering an account at Paybis.
Merchants can carry out transactions on their smartphones as Paybis created convenient applications available on Google Play and App Store.
The platform and its apps gained popularity among traders around the world: with over $2 billion processed, the exchange received 4.2 out of 5 on TrustScore based on a whopping 19,896 reviews from real traders.
In addition to B2C clients, Paybis offers digital asset solutions for institutions. Its white label offering allows third-party websites to activate their own fiat on- and off-ramps. For mobile app developers and marketers, Paybis launched MobSDK, a powerful software development kit focused on cross-platform apps for smartphones.
As such, Paybis has established itself as a reliable, secure, and beginner-friendly platform for purchasing BTC and altcoins with fiat money available in multiple regions.
