Is Payeer Wallet Safe? | How Does Payeer Work? | Payeer Full Review | How To Register In Payeer | Payeer Fees
What Exactly Is Payeer?
Payeer is a global electronic wallet system that operates on a global scale. It began operations in Georgia in 2012, with representative offices in the United Kingdom and Russia, and by 2015, it had become one of the most popular payment systems.
Hundreds of thousands of users have registered during this time. Approximately 9 million accounts are currently registered in the electronic payment system. The site is visited by more than 4,000,000 people per month, indicating its popularity, according to monitoring statistics. It is accepted in over 200 countries, allowing payments to be made all over the world.
You can not only use the system to pay for goods and services, as well as deposit and withdraw funds in one of the most convenient ways for yourself, but you can also use Payeer to conduct business. Connect the site to the system, for example, and accept payments from customers all over the world.
Photo By MKT247 from payeer.com
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Payeer allows its users to purchase and sell cryptocurrency. However, the system does not always provide favorable rates, and you may be required to pay a commission in order to complete the transaction.
Changes to the regulation of cryptocurrency turnover will go into effect in 2020, which means that when withdrawing funds through most licensed payment systems, users will have to declare their income and pay taxes.Tax is levied on the difference between the sale and the purchase if supporting documents are available. In the absence of documentation, tax is levied on the entire transaction amount.
Payeer also has its own payment card, which allows you to pay and withdraw cash anywhere in the world without incurring any fees. You can also transfer funds to users who are not registered in the Payeer system.
Because of the system's widespread adoption, Payeer can now be used to pay for goods and services in online stores all over the world. On the "Solutions" tab, you can get acquainted with a comprehensive list of solutions.Not only does the system provide numerous opportunities for buyers, but it also provides numerous opportunities for sellers. Offers to connect the site to Payeer, which will allow accepting payments, expanding the client base, and gaining new business opportunities.
Payeer is available not only for desktop computers, but also for Android and iOS devices. Users can read all of the information in five languages: English, Russian, Spanish, French, and Chinese.
Features
You can create an anonymous and verified account in the Payeer system. The only distinction is in the level of trust placed in users. In this case, the options are the same:
- SWIFT payments; currency exchange at the internal rate or on the stock exchange.
- international transfers; automatic currency conversion when transferring funds from one internal account to another.
- Payment acceptance organization on your own website (available for Business accounts).
- earnings from the affiliate program.
- Payment for online purchases.
Photo By MKT247 from payeer.com
Taking into account the Payeer reviews, the following benefits of the system can be identified:
- International transfers are completed instantly. People from many countries use the payment system because instant transfers are available regardless of the time of day or the country of destination of transfers. This is ensured by the use of cutting-edge data-processing technologies.
- The right to remain anonymous. Verification is offered on a purely voluntary basis. The majority of users prefer to set up anonymous email accounts. Accounts are mostly verified by business owners who connect Payeer to their website.
- The interface is user-friendly. Many services have out-of-date websites with complicated user interfaces. You must search for the information you require for an extended period of time, which is inconvenient for users. Owners of Payeer wallets note that the system's website is much more appealing than others.
- Security. One of the most important factors that people consider when selecting a payment system. Everything is in order in terms of security in Payeer: a multi-level data protection system, including a master key, is provided.
- A variety of deposit and withdrawal methods are available. There are over 100 ways to replenish your wallet. A similar number of options are available for withdrawing funds.
- Functionality that is extensive. You can't just send money. A favorable exchange rate for internal currency and Bitcoin is provided, as well as payment for the majority of popular services.
The only drawback of Payeer is the commissions for replenishing the wallet. The transaction is subject to a fee of up to 5% of the total amount. It should be noted that this disadvantage is offset by a reduction in the commission for internal transfers to 0.5 percent.
Referral Program
Each user of the payment system can earn extra money by referring others to Payeer. The service has introduced a multi-tiered referral program. Partners can earn up to 25% of Payeer.com revenue under the terms of the agreement.
However, the payment system recently increased partner deductions to 40%. Their worth is determined by the amount of money spent by the users you drew.
In the "My referrals" section, the current affiliate percentage is displayed. The initial percentage is 10%.
However, the payment system recently increased partner deductions to 40%. Their worth is determined by the amount of money spent by the users you drew.
In the "My referrals" section, the current affiliate percentage is displayed. The initial percentage is 10%.
Payeer Fees
Payeer offers users a wide range of options, but using the system may necessitate the payment of commissions. So, for example, the commission for depositing and transferring funds is up to 5%, and its size is directly proportional to the method used to deposit funds into the account.
Sellers pay 0.95 percent commission when accepting payments from buyers, as well as when making an instant exchange or exchange of fiat currency. Users pay a 0.25 percent commission for options when using the internal exchange, and a 2.95 percent commission when using high-risk sites. The commission is set at 0.01 USD or EUR. More information on fees can be found here.
How to Get Started with Payeer
To begin working with Payeer, you must first create an account. To do so, go to the main page and click the “Create Account” button.
Photo By MKT247 from payeer.com
In the form that appears, enter your email address and the security code from the image. When you're finished, click "Create Account."
To verify your account, locate the verification code that was sent to your email address. Open the Payeer message and enter the code you received.
Photo By MKT247 from payeer.com
Photo By MKT247 from payeer.com
It is the last step! To finish the registration process, enter your first name, last name, and country.That's all! You can now begin using the Payeer service!
How to Use Payeer
The system allows you to use two types of accounts: individual accounts and legal entity accounts. At the same time, each wallet allows you to open accounts in various currencies (USD, RUB, EUR). Aside from these currencies, fiat and cryptocurrency blocks are also available (BTC, ETH, BCH, LTC, DASH and USDT).
Each wallet block contains the user's available currency as well as the symbol.
Photo By MKT247 from payeer.com
There are tabs "All accounts," "Fiat," and "Cryptocurrency" on the main page of the electronic wallet in the "Balance" section. There are eight currency blocks available on the All Accounts tab: USD, RUB, EUR, BTC, ETH, BCH, LTC, DASH, and USDT.
Fiat currency blocks (US dollars, euros, and rubles) are displayed on the Fiat tab, while cryptocurrency blocks are displayed on the "Cryptocurrency" tab (BTC, ETH, BCH, LTC, DASH and USDT).
Each currency block includes the currency symbol, the amount of money in that currency in the block's center, and the amount converted to euros (by default).If desired, the user can change the currency of the total by clicking the currency symbol in which the result should be displayed and refreshing the page.
Verification
The verification procedure grants users access to all system functions, allows them to make transfers quickly and easily, and protects them from blocking. To complete the procedure, you must confirm your mobile phone number, provide an identity document (passport, driver's license, residence permit), a photo of the user, and a document confirming the actual address of residence with the user's name as well as the full address (statement, utility bills)... Additionally, the company may request that the employee be contacted via Skype via video link.
Verification allows you to change the status of your account from registered to verified. In addition to identity verification, the company may ask for information about funding sources and transactions. In the event that a customer refuses to provide personal information, the company reserves the right to close, restrict, or suspend access to the electronic wallet. You must first read the company's rules before registering on the site, because Payeer's internal policy restricts the system's use by users from certain countries who cannot be verified.
Customer Support
Customers of the Payeer e-wallet system can contact the support service using a special feedback form posted on the company's official website to resolve various issues.
Is Payeer Safe?
Since 2012, this service has been successfully operating in the financial services market, earning the trust of users and acquiring repeat customers.
Because of the system's popularity and the presence of partnerships with large financial institutions operating in various regions, Payeer can be used in over 200 countries to make payments and transfers, conduct business, and trade on exchanges, including cryptocurrency exchanges. All of these facts attest to the company's good reputation. It is a sign that the company can be trusted.
The service has a high level of security and information protection from the outside world. The company is officially registered in Estonia, one of the world's leading blockchain countries. The license was issued by the Financial Services Commission (VFSC) No. 15068 on May 16, 2019, according to the official website payeer.com.
Another reason to believe that Payeer is not a scam platform is the legal information provided by the company.
In terms of the security measures that Payeer users can use to protect their accounts, the platform offers a number of options. The primary security feature is two-factor authentication (2fa). This safeguard prevents users from accessing their accounts or withdrawing funds unless they provide a short one-time password that they receive via SMS.The more difficult method is to install a Google Authenticator or an Authy app on a mobile device. Every 30 seconds, this app generates one-time passwords. No one who does not have access to a mobile device with a user-binded authenticator will be able to obtain this password and enter or withdraw funds from the account. The use of two-factor authentication significantly reduces the likelihood of losing money due to theft.
A secret word that is generated when you create an account adds another layer of security. It is recommended that you write this word down and keep it in a safe place. The word can be requested while performing critical actions on the account or when regaining access to the account.If both the password and the secret word are lost, the user must go through a KYC procedure and pay a password restoration fee. Payeer successfully protects its servers from DDoS attacks thanks to a partnership with Vistnet. VFSC and MEAC have granted licenses for the platform.
Conclusion
To summarize, the Payeer payment system is extremely dependable and provides access to a wide range of opportunities. The service is used by businessmen, freelancers, investors, and project owners who value anonymity.
Users have a variety of options for replenishing their wallets and withdrawing money, as well as an affiliate program with a reasonable commission for attracting referrals. We recommend this service for professional use.
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