According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 127 countries
- No, transaction fees only
Currencies:
- 3 fiat currencies (USD, EUR, and RUB) and most cryptocurrencies
cryptocurrencies:
- Yes
Our Evaluation of Payeer
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Brief Look at Payeer
The Payeer wallet was launched in 2012 from the company’s headquarters in Warsaw, Poland. Initially, it was a standard electronic wallet designed for storing cryptocurrencies and online payment for goods and services. Today, it has a lot more functions that allow its users to convert funds involving crypto-to-crypto and crypto-to-fiat assets and access the international cryptocurrency market to trade. The wallet’s referral program allows traders to make money through invited clients. The Payeer payment system not only works with private individuals but also offers complex solutions for businesses. Primarily, it's a convenient application programming interface (API) for merchants and crypto services, which allows users to receive cryptocurrency payments, as well as to buy, sell, and exchange cryptocurrencies, and use additional methods of payments.
- Registration is free, there is no subscriber fee, and clients only pay transaction fees.
- The platform’s work is completely transparent. All the fees are announced in advance, and every transaction is registered in detail.
- The Payeer wallet can be accessed on the website or through a mobile app for iOS and Android devices.
- Apart from storing funds and payment for goods and services, Payeer’s users get access to the international cryptocurrency market.
- Clients can freely buy and sell cryptocurrencies, as well as deposit and withdraw them in common ways.
- There are over 25 options for depositing and withdrawing funds, including Visa cards and MasterCards.
- The referral program brings users up to 25% of the fees paid by the referees.
- Although there is no subscriber fee, almost all transactions are paid, and some charges are significant. For example, for internal transfers in USD, EUR, or RUB, users pay 0.5% of the amount.
- Payeer’s user accounts on the website or the mobile app don’t offer account management instruments. There are only statistics on income, expenses, and trades.
- To use all the features of the Payeer e-wallet, a client has to complete verification by providing his personal information and pictures of his passport. Otherwise, there will be restrictions on transactions.
TU Expert Advice
Author, Financial Expert at Traders Union
Payeer offers a comprehensive e-wallet service that supports a wide range of features, including storing and trading cryptocurrencies and fiat currencies such as USD, EUR, and RUB. It provides a user-friendly platform for individuals and businesses, with a focus on cryptocurrency exchanges and an integrated payment system. Payeer is accessible via a website or a mobile app and supports multiple cryptocurrencies, making it a versatile option for crypto enthusiasts. Its attractive referral program offers the opportunity to earn a percentage of the fees paid by referred users.
However, Payeer comes with drawbacks, such as transaction fees for most operations, which may be significant in certain cases. Additionally, the need for account verification may impose limitations on some users. While Payeer does not provide detailed account management tools, it is a suitable option for traders who prioritize simplicity and the ability to conduct crypto and fiat transactions without regional restrictions. The platform may not be ideal for traders who require in-depth account management features or are sensitive to transaction costs. Overall, Payeer can be a good fit for individuals and businesses looking for a versatile payment and trading solution in the digital currency landscape, provided they are aware of its non-Tier-1 regulatory status and past compliance issues.
Payeer Summary
Via Payeer's secure website. Your capital is at risk.
| 💼 Main types of accounts: | For private individuals and legal entities |
|---|---|
| 💱 Multi-currency account: | 3 fiat currencies and most cryptocurrencies |
| Deposit terms and conditions: | Visa cards and MasterCards, Perfect Money, AdvCash, and QIWI systems |
| Loan terms and conditions: | Registration is free, and there are no rate plans or subscriber fees |
| ☂ Deposit insurance: | Depend on assets and transaction types |
| 👛️ Savings options: | Transaction archives |
| Types of payment: | Currency converter and the referral program |
| ➕ Additional features: | No |
The main convenience offered by the Payeer wallet is that it supports the most popular ways to deposit and withdraw funds. You can use credit or debit cards and the most common systems of electronic payments. Deposits and withdrawals are available in three fiat currencies: USD, EUR, and RUB, and in the following cryptocurrencies: Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Bitcoin Cash, Dash (Ð), Ripple, and Tether (₮).
Note that the Payeer wallet has an integrated converter, so a user can always exchange his crypto and fiat assets. Convertible assets include the three said fiat currencies and most cryptocurrencies that are traded on international exchanges. You get direct access to these exchanges and can trade your cryptocurrencies without restrictions while profiting from the differences in rates.
Once you have been verified, the Payeer payment system doesn’t set restrictions on you. Deposits, withdrawals, purchases and sales, and all other features of the platform are available to you in any volume. But keep in mind that there are special conditions of cooperation for legal entities, which offer their clients certain services involving cryptocurrencies. If you represent a legal entity and want to use the Payeer payment system, be sure to register the corresponding account (not for private individuals). This will open some additional features for you.
It's worth noting that Payeer doesn’t have problems integrating the API. In most cases, it takes only a few minutes to set it up and adjust it. You can always contact tech support by email or through tickets. Today, this is one of the most reliable payment systems, which is constantly used by over 4 million people worldwide.
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Payeer Commissions & Fees
The Payeer wallet doesn’t charge fees for registration or account opening. There is only one tariff. The conditions for private individuals and legal entities differ in commissions and additional features. This service doesn’t charge subscriber fees, i.e., its usage is free. If a client hasn’t been verified (i.e., his personal data hasn’t been confirmed), there are certain restrictions for him, including transaction limits.
There are no fees for deposits or withdrawals, regardless of the coin or transaction amount. If you use a Visa card or MasterCard to make a deposit, the fee will be 3.99%, and if a card is used for withdrawal, the charge will be 1.99%. Perfect Money charges 1-3% per deposit and 1.99% per withdrawal. QIWI charges 4.99% per deposit and 1.99% per withdrawal. AdvCash can only be used for deposits, and the fees for them are absent.
If it’s indicated that a transaction is free, it stays free under any circumstances. However, charges for paid transactions may change depending on the circumstances. The table of rates, data from which is provided above, lists minimum charges. The actual fee for each transaction is indicated on the website or the app before a user confirms his action.
Traders Union also compared Payeer’s fees with similar types of fees on other e-payment systems.
| 2Checkout | Neteller | Payeer | |
| Payment commission | 3.5% + 0.35$, 4.5% + 0.45$ or 6% + 0.60$ per transaction | 2.99%, min USD 0.50 | 0.5% - 0.95% |
| Deposit commission | Depending on the payment method | 2,5% | 1-3% - 4.99% |
| Withdrawal commission | Depending on the payment method | 0%-3.99%, Bank Transfer - 10$ | 1.99% |
| Commission for international transfers | Depending on the payment method | Up to 4.99% | From 3.99% |
Based on the above, it is correct to state that the Payeer platform goes beyond the classic idea of an electronic wallet or payment service. But Payeer doesn’t have any features of internet banking. It’s a one-of-a-kind platform that offers a set of simple and intuitive functions for the management of fiat money and cryptocurrencies. The Payeer wallet allows you to make and receive payments, convert your assets, and earn on them. The referral program expands your earning options using passive accrual of bonuses. Plus, there is the API for legal entities. With several clicks, businesses can set up Payeer in their internet stores and receive payments in cryptocurrencies.
Investment Options
The Payeer payment system offers only one option for passive capital growth. It’s the referral program. Every client with a verified account gets a personal referral link. He can post it on all web platforms, including social media and messengers. Every user that follows this link and registers in the Payeer system becomes a referee of the link’s owner.
There are six levels of referrals. If an invited user, who now has a link of his own, invites another user, then the latter becomes a 2nd level referee for the owner of the initial link and also brings him passive income. This is how it works all the way to level 6. The 1st level referral brings the link’s owner 25% of the fees, which he pays to the system for the use of its features. For referrals at the following levels, the percentage decreases proportionally, and thereby the 6th level referral brings the owner of the initial link only 5% of his fees.
Among its competitors, the Payeer wallet offers the highest potential profits from the referral program. The Payeer platform gives its clients free ready-made promotional banners in the most popular formats.
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 the deal and all the steps from signing up to withdrawal of profits.
Contacts
| Foundation date | 2012 |
|---|---|
| Regulation |
VFSC
Licence number: 15068 |
Comparison of Payeer with other e-payment systems
| Payeer | Volet.com | Skrill | Payoneer | FastSpring | Square | |
| Supported Countries | 127 countries | 150 countries | 200 countries | All countries | 200 | Most countries (including 8 countries for hardware solutions) |
| Supported Currencies | 3 fiat currencies (USD, EUR, and RUB) and most cryptocurrencies | 9 currencies (USD, EUR, GBP, RUB, BRL, TRY, UAH, KZT, VND) | 40 currencies | 7 currencies – USD, CAD, EUR, GBP, MXN, AUD, JPY | 20 | All currencies (for hardware solutions, when paying offline, only the currency of the country where the solution is registered) |
| Support for cryptocurrencies | Yes | Yes | Yes (deposit) | No | No | No |
| Subscription fee | No, transaction fees only | No, only transaction fees | No, only transaction fees | No, only transaction fees | 8.9% or 5.9% +95 cents per transaction | 2.9% + 30 cents for accounts |
| Payment acceptance equipment | No, online only | No, only software | No, only online | No, only online | No, only software in the form of SaaS | Yes, own devices |
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