PAYBITO FAQ


Identity Verification


Verification within 24 hours
User Photo :
Photo ID Front :
Photo ID Back :
Address Proof :

Please check the image below:

Once submitted your Identity details your account will be verified depending on the below mentioned criteria

  • 1) Ensure that your document is valid and not expired, without hole punches or other modifications
  • 2) Photograph the entire document and avoid cutting off any corners or sides or you can upload the scan copy off the required documents.
  • 3) Try using your mobile device. In some instances you can use the mobile app to complete the ID verification step using your phone's camera. This can be done from the
    Left Menu > Account Verification > Identity Verification > Edit.
  • 4) For US customers, Driver's License , Identification cards , Pasport are accepted.
  • 5) For User Photo please upload a photo with your clear ID and Address proof in hand and a paper that says ‘ Only for trading Cryptocurrency on Paybito’.
  • 6) Use a plain wall as a background if possible
  • 7) Do not wear sunglasses or cover up head.

Why am I being asked to verify my identity?

As a regulated financial service company operating in the US we are periodically required to identify users on our platform. This ensures we tend to stay in compliance with KYC/AML laws within the jurisdictions during which we tend to operate, one thing that's necessary for USA to be able to still provide digital currency exchange services to our customers. Please refer to our Privacy Policy ID verification general guidelines for what information we collect and how we keep those information secure. All the ID checks must be finished either through the Paybito site or the portable application. We are not ready to acknowledge messaged duplicates of ID for check purposes. ID Verification FAQs
I see an error "Unable to upload your ID"
This error indicates that there was an issue connecting to our ID verification service. When you see this, please wait 30 minutes and try to verify again. If there is a larger issue we'll be sure to update “customer-support@paybito.com” with the latest information.

How do I verify my identity when using the mobile app?

Once you login to the app you'll be asked to provide your ID Proof. Verify by filling the info and uploading the ID.

Open paybito app and follow the below instructions.

Go to Left Menu > Account Verification > Identity Verification > Edit and submit the required details for verification.

I already uploaded my ID and am being asked to upload it again

In some cases, if there is no proper information provided from the documents or the documents which are provided does not meet above criteria then you need to update the documents once again.

My ID is from one country but I live in another

If your ID document is issued by a country other than the country you are a resident of in that case you need to provide the valid ID proof of your residing country. We're always working on improving our verification service and support your requirements better.

I tried uploading my ID and it says I have to wait 24 hours to try again

If your account has been locked out from completing the ID verification for 24 hours, then you need to wait for 24 hours to try again. If still you having issue then follow the basic troubleshooting steps such as try in the different browser or the different device.

Bank Details Verification


Verification within 24 hours
We required Beneficiary name :
Bank name :
Account no. :
Routing number :

Please check the image below:

Once submitted your bank account will be verified depending on the below mentioned criteria

The name on the linked bank account must match the verified name on your Paybito account

How do I verify my Bank Details when using the mobile app?

Once you login to the app in order to access the full feature of Paybito you need to upload your bank details.

Open paybito app and follow the below instructions.

Go to Left Menu > Account Verification > Bank Details > Edit and submit the required details for verification.

Payment Method

Bank Wire

Wire deposits into Paybito

Paybito can only accept wires if:

  • 1) The name on the bank wire matches the legal name on your Paybito account
  • 2) The wire is sent from a US-based bank account
  • 3) Your unique reference code is included with the wire deposit
Wires not meeting this criteria will be returned to the originating account after several business days.

Wire deposits are available to customers who have completed appropriate account verifications to obtain a USD wallet.

For web please see the image below

Please click on “Deposit funds” enter the amount and click on “pay now” and your order will be generated(see the image below)

Wire withdrawals from Paybito

Paybito Wire withdrawals are available for amounts $5000 and Maximum is $25000. Once you complete the verification steps to activate a USD Wallet and verify your wire withdrawal information, you can withdraw funds from your USD Wallet via bank wire.

Please check the image below for further details.

Go to top Menu > Withdraw Funds > enter amount > click on Withdraw.

Which virtual currencies are available to purchase?

Paybito provide varying levels of support for different virtual Currencies.

The following lists all supported virtual Currencies on Paybito:

  • Bitcoin
  • Bitcoin Cash
  • HCX
  • IEC

How do I send digital currency to another wallet?

WEB

  • 1) Navigate to the left corner of the screen that says BTC balance SEND RECEIVE.(See the image below)
  • 2) Click on send and enter the receiver address and amount.(See the image below)

Paybito App

Please use the below Informations for further details.

Deposit USD

  • 1) Select the Deposit option from the main menu
  • 2) Enter the deposit amount and click on Generate Order
  • 3) If you have submitted your payment details and they have been verified, proceed to Step no.4.
    If you have not submitted your payment details or your payment details have been declined, you should get a pop up asking for your details. Click on Submit Now to proceed to Payment Method screen and update your details by clicking on the Pen icon. The details will be verified within 24 hours.
    In case your payment details are pending verification, please try again after you get verification confirmation.
  • 4) An order form is created with the details required to transfer to Paybito. Note down your Order Number and the Paybito transfer details
  • 5) Initiate a wire transfer to the Paybito account. Please adhere to the following guidelines -
    • i) Provide Order Number in the message box for the wire transfer
    • ii) The transaction should only be sent from the Bank account registered in the app
    • iii) Dollar deposits are only available for US bank accounts currently
  • 6) Once the Payment is confirmed from our side you will received a confirmation on the App and your registered email ID. All deposits will be verified within 48 Hours
  • 7) You can view the invoice by clicking on View Invoices on the Deposit screen after confirmation

Withdraw USD

  • 1) Select the Withdraw option from the Main Screen
  • 2) Enter the amount to Withdraw. Minimum amount is $5000 and Maximum is $25000
  • 3) If you have submitted your payment details and they have been verified, proceed to
    Step no.4.If you have not submitted your payment details or your payment details have been declined, you should get a pop up asking for your details. Click on Submit Now to proceed to Payment Method screen and update your details by clicking on the Pen icon. The details will be verified within 24 hours.
    In case your payment details are pending verification, please try again after you get verification confirmation
  • 4) The app will show you the details of the account to which the withdrawal will be credited
  • 5) If MPin check is enabled, the app will ask for MPin for verification
  • 6) Withdrawal request is submitted and will be processed within 7 business days

How do I receive digital currency from another wallet?

If you'd like to receive digital currency from another wallet, please follow the below steps.

  • 1) To receive bitcoins from another BTC wallet, you need to generate address.
  • 2) Click on Receive on the Dashboard
  • 3) Click on 'Generate Receiving Address' to generate receiving address
  • 4) A new address is generated along with QR code.
  • 5) You can either copy and share this address with sender or ask them to scan QR code
  • 6) Transaction can be viewed in History after 6 blocks confirmation on the network

How do i sell a crypto?

  • 1) Click on the Crypto symbol at the top right of the Dashboard screen
  • 2) Choose the crypto you want to sell from the pop up screen and click on Select
  • 3) Check the current Sell price from the dashboard
  • 4) If you want to sell the crypto go to Sell on the main screen
  • 5) Enter the amount you want to sell in crypto. Amount can be between $10 and $15000.
  • 6) Click on Sell to Sell the crypto
  • 7) The dollar amount will be credited to your wallet and you'll receive the invoice in your registered mail

Send Crypto

  • 1) Click on the Crypto symbol at the top right of the Dashboard screen
  • 2) Choose the crypto you want to send from the pop up screen and click on Select
  • 3) Click on Send on the Dashboard to send the crypto.
  • 4) You can send either to another 3rd party wallet service or address or to another Paybito wallet

For other Wallet

  • 1) For any other wallet you can either manual type the receiving address or scan a QR code using the camera icon next to address.
  • 2) Please grant Paybito permission to use your camera to scan the QR code.
  • 3) The QR code is scanned and the receiving bitcoin address is populated.
  • 4) Enter amount and you can send the transaction
  • 5) You can track the transaction status in the history screen. This can be accessed by clicking on History on the main dashboard
  • 6) Click on the 'Check transaction block' link in description column to confirm if transaction has been sent successfully

For Paybito Wallet

  • 1) Enter the registered phone number of the user
  • 2) Transaction is confirmed instantly and can be seen in the History screen on the Dashboard

I sent funds to the wrong address. How do I get them back?

Because of irreversible nature of cryptocurrency protocols, transactions cannot be canceled or reversed once sent. In this scenario, it would be necessary to contact the receiving party and seek their cooperation in returning the funds. If you do not know the owner of the address, there are no possible actions you can to take to retrieve the funds.

Because of this, it is consequential to exercise caution when sending. It is constantly suggested that you double-check the address you are sending to precisely coordinates the address of the beneficiary before sending.

I have BTC balance in my wallet but cannot buy IEC it says insufficient fund?

Please help us with below mentioned query to proceed further.

  • 1) If you are using web please make sure you are using right link. (Link has been mentioned below).
    http://dashboard.paybito.com/
  • 2) If you are using mobile app please make sure you are using right app (link has been mentioned below).

Android

https://play.google.com/store/apps/details?id=com.hashcash.bbc_wallet_android_in

IOS

https://itunes.apple.com/us/app/paybito/id1377285556?ls=1&mt=8

customer-support@paybito.com

For further query please reach out to us at

Paybito is not accepting my email address in your Sign Up page.?

If you are using web please make sure you are using right link to sign up
http://dashboard.paybito.com/

How much my account is secure/Do you offer 2-factor authentication?

Paybito takes substantial secure measures to keep your account protected and we do recommend some additional help to protect your account from unauthorized access. Please note Paybito will never be ask for your credentials nor the 2-factor authentication code.

Why do I see a charge on my bank account but did not receive the coins yet?

When initiating a bank transfer, you will see the funds pulled from your account immediately upon authorization. This is primarily so we can lock in your quoted price. Due to the irreversible nature of digital currency, we must also ensure that all funds have cleared prior to finalizing the transaction.

Depending on your bank, it may take one to two business days for the funds to flow between banks and enter our system. Additionally, it may take two to three business days to clear on our end. Once your funds have cleared in our system, we transfer your digital currency to your wallet immediately at the price that we initially locked in.

How am I protected from being scammed?

All online trades from us are protected by Paybito service. Each account protected with 2 factor authentications. Paybito support will never ask for your login credential.

How long does it take to receive my order?

By, and large, it takes around 10 minutes to discover each block. The normal block time can really be somewhat shorter or longer in the event that the aggregate hash intensity of the Bitcoin arrange is developing or contracting. Disregarding this detail, however, this is the reason 6 affirmations take around 1 hour overal.

How do I add a payment method when using the mobile app?

  • 1) Select the Deposit option from the main menu
  • 2) Enter the deposit amount and click on Generate Order
  • 3) If you have submitted your payment details and they have been verified, proceed to Step no.4.
    If you have not submitted your payment details or your payment details have been declined, you should get a pop up asking for your details. Click on Submit Now to proceed to Payment Method screen and update your details by clicking on the Pen icon. The details will be verified within 24 hours.
    In case your payment details are pending verification, please try again after you get verification confirmation
  • 4) An order form is created with the details required to transfer to Paybito. Note down your Order Number and the Paybito transfer details
  • 5) Initiate a wire transfer to the Paybito account. Kindly ensure the following guidelines are followed -
    • i) Provide Order Number in the message box for the wire transfer
    • ii) The transaction should only be sent from the Bank account registered in the app
    • iii) Dollar deposits are only available for US bank accounts currently
  • 6) Once the Payment is confirmed from our side you will received a confirmation on the App and your registered email ID. All deposits will be verified within two working days.
  • 7) You can view the invoice by clicking on View Invoices on the Deposit screen after confirmation

How do I add a payment method when using the mobile app?

  • 1) Select the Deposit option from the main menu
  • 2) Enter the deposit amount and click on Generate Order
  • 3) If you have submitted your payment details and they have been verified, proceed to Step no.4.
    If you have not submitted your payment details or your payment details have been declined, you should get a pop up asking for your details. Click on Submit Now to proceed to Payment Method screen and update your details by clicking on the Pen icon. The details will be verified within 24 hours.
    In case your payment details are pending verification, please try again after you get verification confirmation
  • 4) An order form is created with the details required to transfer to Paybito. Note down your Order Number and the Paybito transfer details
  • 5) Initiate a wire transfer to the Paybito account. Kindly ensure the following guidelines are followed -
    • i) Provide Order Number in the message box for the wire transfer
    • ii) The transaction should only be sent from the Bank account registered in the app
    • iii) Dollar deposits are only available for US bank accounts currently
  • 6) Once the Payment is confirmed from our side you will received a confirmation on the App and your registered email ID. All deposits will be verified within 48 Hours
  • 7) You can view the invoice by clicking on View Invoices on the Deposit screen after confirmation

What are network fees?

We charge a network fee for Bitcoin withdrawals from your Paybito wallet to an external Bitcoin wallet .A Network fee is required to ensure your transaction is confirmed by the Bitcoin mining network and fluctuates based on volume on the network. Paybito does not profit from it.We currently select a high-priority fee to ensure fast confirmation on the blockchain. You need to have enough funds to cover the network fee. Actual fees fluctuate based on Bitcoin network volume. A network fee is calculated at the time of a transaction and it will always be shown in the confirmation step before the transaction completes.

Is there any other service Fees?

No! - Paybito does not charge any sales tax or additional fees above what is quoted on the store location page.

I have made a purchase but it didn’t seem to go through?

It might only happen due to some technical issues such as server went down, internet going down in the device and many more. If the payment is deducted from your account then as per your bank policy definitely the money will be credited to your account

What happens when bitcoins are lost?

At the point when a user loses his wallet, it has the impact of evacuating cash unavailable for general use. Lost bitcoins still stay in the blockchain simply like some other bitcoins. In any case, lost bitcoins stay torpid perpetually in light of the fact that there is no chance to get for anyone to find the private key(s) that would enable them to be spent once more. As a result of the law of supply and demand, when less bitcoins are accessible, the ones that are left will be in higher request and increment in incentive to adjust.

What Happens If Someone Sends Bitcoins To My Wallet And I'm Offline?

Try not to freeze, the Bitcoins will show up in your wallet whenever your turn on your gadget and synchronize with the network. At whatever point a trade happens, it is noted in the blockchain and set away on all computers which use Bitcoin programming. When you get the refreshed blockchain off of one of the computers associated with the system, your exchange will be checked and the Bitcoins will appear in your wallet. You just need your wallet when you wish to burn through cash, else you can keep it disconnected and all the Bitcoins will be included whenever you interface with the network

Why Does Synchronizing Take So Long?

Synchronizing takes an extended amount of time only when the user chooses to use a full node client. These clients download and verify all network transactions that happened in the past. Some clients need this additional data to be able to calculate your spendable balance and in order to make new Bitcoin transactions.These calculations are based on previous transactions which might take some time to download, depending on your bandwidth and processing power. There are other clients that don’t require this additional data, but it should be noted that in order for Bitcoin to remain secure and protected enough users need to be using the full node clients .The Bitcoin community understands the value of using full node clients and there are plenty users choosing to do so.

How to invest in Bitcoin?

Various buyers of Bitcoin and distinctive cryptographic types of money believe that these advancements can change the budgetary world and upset the status region of undertakings. They see bitcoin, similar like gold, and they take after a whole deal hand-holds procedure.

How does Bitcoin work?

Bitcoin works by recording each trade that occurs on its framework in all nodes of the framework. This excess guarantees that an awful performer can't change or erase an exchange by undermining a solitary purpose of failure. Each user of the Bitcoin network has an open private encoded key match and utilize their open keys as their record number or address. For example, if X sends Y one Bitcoin, X will send it to Y's public key address. Transactions themselves are affirmed and added to the blockchain system through a method called "mining", which similarly is the procedure by which new Bitcoins are familiar with the system.

What is Bitcoin Cash?

Bitcoin Cash is the result of a “hard fork,” which is a splitting of the blockchain into two separate new ledgers, but both conserving whatever came before it. One of the new chains is maintained by the original protocol and code while the second, order to execute new code or add additional features and functionality. Bitcoin Cash forked off in order to raise the number of transactions that can be fitted under a block in an effort to minimize transaction charge and confirmation times, but this has created something of an ideological split in the Bitcoin community among those who claim that one versus the other incarnate the “original spirit” of the Bitcoin project.

Is Bitcoin Cash different from 'Bitcoin'?

Yes. Bitcoin and Bitcoin Cash is different, The succession of the Bitcoin project is Bitcoin cash as peer-to-peer digital cash.It is a fork of Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.

If I own Bitcoin, do I automatically own Bitcoin Cash too?

Any buyer holding bitcoin at the same time bitcoin cash created become an owner of bitcoin cash. Meaning of this that Bitcoin holders as of block 478558 (August 1st, 2017 at about 13:16 UTC) have the same quantity of Bitcoin Cash as they had Bitcoin at that time. In case of third party exchange, you must inquire with them about your Bitcoin Cash.

Any transactions between Bitcoin and Bitcoin Cash after the August 1st ledger split are completely separate. Meaning of that Bitcoin Cash does not include after the split in any Bitcoin acquired.

How is transaction replay being handled between the new and the old blockchain?

Transactions of Bitcoin Cash use a new signature, the flag SIGHASH_FORKID indicates hashing algorithm. On the legacy blockchain, these signatures are not valid. This obstructs Bitcoin Cash transactions to being replayed on the Bitcoin blockchain and vice versa.

Why was a fork necessary to create Bitcoin Cash?

The legacy Bitcoin code had a maximum limit of 1MB of data per block, or about 3 transactions per second. Although technically simple to raise this limit, the community could not reach a consensus, even after years of debate. ​ Was the 1 MB block size limit causing problems for Bitcoin?

Yes, Capacity hit the 'invisible wall' in 2017. Bitcoin became unfaithful and Fees skyrocketed, buyers not able to get their transactions confirmed, even after days of waiting.

Bitcoin stopped growing. Many business and investors, users and merchants abandoned Bitcoin. Its market share plummeted from 95% to 40% among with other cryptocurrencies.

Does Bitcoin Cash fix these problems?

Yes. The block size limit instantly raised to 8MB in Bitcoin Cash as part of a massive on-chain scaling approach. There will be a wide capacity for everyone's transactions.

Bitcoin Cash will resume with Low fees and fast confirmations. The network will be allowed to grow again. Users, merchants, businesses, and investors will return.

Why didn't Bitcoin raise the block size if it was easy?

The created original vision of peer to peer electronic cash has not understood and agreed by some of the developers. Instead, they preferred Bitcoin become a settlement layer. Some users trusted these developers, while some others acknowledged that they were leading the community down a different road than expected. These two very different visions for Bitcoin are largely repugnant, which drive to the community divide.