Whether you’re an expert in the world of cryptocurrencies or a newcomer making your first trades, there will eventually come a time when it will be necessary for you to move your cryptocurrency from your Paybis account to a secure, non-custodial wallet like Zengo.
In this how-to withdraw money from Paybis guide, we’ll cover everything you need to know about withdrawing your assets from Paybis and moving them to your secure Zengo wallet.
First and foremost, ensure that your Zengo wallet is up and running and ready for you to make deposits into it. You can download the Zengo app from the Google Play Store and the Apple App Store. Zengo is known for its robust security measures, including Multi-Party Computation (MPC) technology, a powerful Web3 firewall, and advanced biometrics.
After setting up the Zengo app and completing the onboarding steps, proceed to follow these simple instructions to withdraw your funds from Paybis to Zengo:
Sign in to your Paybis account. Before you attempt to withdraw your crypto, make sure your Paybis account is verified.
Next, click on the button in the top right to access the “Member Area.” Then tap on “Wallets” to see a list of all of your cryptocurrencies.
Choose the currency that you intend to withdraw and click “Send.” Ensure Zengo supports this specific asset and network. If it is not supported, simply swap it for another asset compatible with Zengo and start the process again.
Enter your Zengo wallet address in the “Sending to” box and pick the amount you wish to send. If you need to find your Zengo address, launch the Zengo app, click on “Actions,” then on “Receive,” then select the asset you wish to receive.
Select your fee and then click the “Send” button. Then, as a final step, you’ll receive a one-time code via SMS to enter to confirm your transaction.
Open your Zengo application to check your balance at any time. It will automatically update when your funds arrive. You can also head to the “History” section to see a full breakdown of all transactions made to and from your account.
Zengo offers the safest and most secure non-custodial crypto and NFT wallet available. It comes with state-of-the-art features and security capabilities designed to offer superior levels of protection for all your digital assets, as well as letting you buy, trade, and sell a variety of different cryptocurrencies and access Dapps and DeFi services with WalletConnect.
Since Zengo is a non-custodial wallet, it allows you to maintain complete control over all of your digital assets. This means that the only person who can decide how to manage your digital portfolio is you. Plus, with Zengo’s useful fiat onramp feature, it’s easy to expand your portfolio and buy new cryptocurrencies using fiat money.
Zengo provides human customer support on a 24/7, round-the-clock basis via its in-app chat feature or by email. We don’t have any automated chatbots or generic responses. Instead, our friendly, professional team of support agents stands ready to help out with any questions you might have, providing expert advice and assistance whenever you need it, even on weekends and holidays. Additionally, we have an online help center in case you are looking for more general information.
Making a crypto withdrawal from Zengo is a very simple process. Launch the app, tap “Actions,” and proceed to “Send.” Select your desired cryptocurrency, finalize the amount, input the recipient’s details, and finish off the transaction.
Zengo also supports withdrawals in fiat currency. Navigate to “Actions,” tap “Sell,” pick the appropriate crypto-to-fiat pairing, and confirm the withdrawal. The funds will be transferred to the bank account associated with your Zengo wallet app.
Below, you’ll find the answers to some commonly asked questions about withdrawing cryptocurrency from Paybis that could be helpful to you.
Paybis is a Poland-based centralized cryptocurrency exchange established in 2014 by Innokenty Isers and Konstantin Vasilenko. The platform’s primary objective was to streamline and simplify cryptocurrency transactions for users across the globe. The company focuses its efforts on its fiat-to-crypto and crypto-to-fiat conversion services. The Paybis exchange is equipped with various tools for its users, including a crypto calculator and real-time price charts. Since its inception in 2014, the founders have prioritized responsiveness and trustworthiness. According to their site, their vision was not about surpassing competitors in terms of size or popularity but about becoming a reliable and agile platform in the crypto exchange sphere.
Paybis and Zengo have some similarities as they both allow users to buy and sell cryptocurrencies, as well as allow users to withdraw their crypto directly to their bank accounts in the form of fiat money. However, there are also some notable differences between these two platforms. Paybis is a crypto trading exchange designed primarily with ease of use in mind. It specializes in trading fiat for crypto and the other way around. In contrast, Zengo is a leading non-custodial wallet providing high-end security by implementing advanced MPC technology and biometric protections to safeguard user investments. Along with its fiat-on-ramp capability, it also offers an extensive list of crypto-to-crypto trading pairs. On top of that, Zengo is Web3-ready, which means that it allows users to interact with different kinds of Dapps through its WalletConnect feature, as well as providing protection against exploitation with its robust Web3 firewall.
Paybis does not charge withdrawal fees in the traditional sense, but you will still have to pay for gas fees for every withdrawal. Users are able to pick low, medium, or high networking fees for each transaction. Low fees are obviously the cheapest but will take longer to process.
Withdrawals on Paybis tend to be processed quite quickly, usually in a matter of hours, but it all depends on which network fee you choose to pay. You can pay the high fee category to get your funds transferred as quickly as possible or opt for the low fee if you don’t mind waiting a full business day or more to get your money.
As far as we could tell, there were no specific problems associated with Paybis besides the fact that you cannot withdraw without verifying your account. Nevertheless, as with all crypto trading platforms, there’s always a risk of transactions going wrong due to user error. Specifically, if you accidentally type in the wrong destination address, network, or amount. Therefore, if you plan to withdraw your funds from Paybis, it’s always best to double-check every detail before finalizing the transaction to avoid any unpleasant surprises.
Paybis supports instant withdrawals of crypto to fiat. Once your Paybis account is verified, you can just pick the currency you wish to withdraw from your wallet, enter your bank account details, and then transfer your crypto in fiat. Alternatively, you may prefer to first move your funds into your Zengo wallet, where they will remain safe and secure until you feel you are ready to withdraw your funds to your bank account associated with your Zengo wallet.
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