Is Paymium a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Paymium is a good crypto exchange to start trading with. In this article you will learn whether Paymium is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Paymium
The Paymium cryptocurrency exchange was created in 2011 in France and is headquartered in Paris. Paymium is a subsidiary of UAB PAYRNET and is registered with the number 305264430. The company presents itself as the first Bitcoin exchange and is certified by the EU to provide payment services using digital currencies.
Paymium accommodates sellers and separate payment systems by receiving crypto payments without the risks associated with fluctuations in fiat rates.
| 💰 Account currency: | EUR, BTC, and ETH |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies and P2P trading |
| 💹 Margin Call / Stop Out: | No |
Paymium Pros and Cons
👍 Advantages of trading with Paymium:
•Official registration with the French regulator L'Autorité des marchés financiers (AMF) with the number E2021-011;
•Its interface is not overloaded with unnecessary elements. Anyone can get comfortable with the functions of the exchange’s website;
•Secure service. Over 90% of the assets are stored in cold wallets;
•Centralization. This exchange’s business is regulated by the state and European regulatory bodies;
•A convenient interface and every client gets a personal manager;
•Minimum fees for working with crypto and fiat currencies;
•Commercial offers for large clients;
•Funds can be added to accounts in different ways, including SEPA and SWIFT.
👎 Disadvantages of Paymium:
•Limited number of cryptocurrency pairs;
•Deposits and withdrawals require mandatory verification;
•Limited number of language versions of the website.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for Paymium Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Paymium offers traders the following conditions.
| 💻 Trading platform: | Proprietary platform powered by TradingView |
| 📊 Accounts: | Verified and unverified accounts on a P2P platform |
| 💰 Account currency: | EUR, BTC, and ETH |
| 💵 Replenishment / Withdrawal: | Debit and credit cards, Р2Р cryptocurrency trades, and external services |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies and P2P trading |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No |
| ⭐ Trading features: | Investment programs |
| 🎁 Contests and bonuses: | Offered regularly |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Paymium commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The analysis of the commissions done by the Traders Union specialists showed that Paymium’s approach to charging fees differs from that of other crypto exchanges. For makers, the fees are negative, meaning they don’t actually pay fees but earn income instead. For takers, the fees are up to 0.5%
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Starting at $0.99 | Yes |
Investment programs of Paymium
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Paymium offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
Paymium provides very specific instruments for cryptocurrency trading. For instance, there is the OTC Desk, which enables verified users to trade Bitcoins using over-the-counter technology. It gives them access to higher liquidity and personalized support in real-time, and their assets are protected by the state. To trade using the OTC Desk, a client has to fill out a short form on the website. He will be contacted by a specialist from the crypto exchange to discuss the individual conditions for cooperation.
Paymium’s investment programs
The Paymium crypto exchange offers its users the opportunity to make investments through the OTC Desk program. Its essence is the early purchase or sale of cryptocurrencies. Clients who trade in large volumes can request an individual commercial offer.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Paymium’s affiliate program
The platform has a referral system that promotes the reduction of commissions. All traders participate in this referral system automatically. Every participant receives BTC and EUR as rewards in the amount of 30% of the fees paid by his referrals. The rewards accrue in his balance automatically. They can be used for trading or withdrawn as crypto or fiat currency.
There are no unique differences between the offers on other exchanges. It’s the same referral system or affiliate program, which partially compensates for the commissions paid by an invitee. Unlike other crypto exchanges, Paymium pays rewards in EUR and BTC. Percentages accrue right after invitees make transactions.
Conclusion. Is Paymium good for beginners?
The Paymium cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Paymium could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.