BitPay vs Kraken vs Paybis: Which Exchange Fits Your Needs?

TL;DR: Looking for the “best” crypto platform misses the point. The right tool depends on your goal. Kraken is built for active traders who want low fees and advanced charts. BitPay is designed for merchants and people who want to spend crypto at stores. We built Paybis as the dedicated on-ramp for first-time buyers who need Bitcoin today without learning complex trading interfaces. This guide compares all three on fees, speed, support, and ease of use.

Most “best exchange” lists compare apples to oranges. BitPay, Kraken, and Paybis serve three completely different types of users at different stages of the crypto journey. Kraken operates as a centralized cryptocurrency exchange and trading platform targeting active traders. BitPay provides crypto payment processing services for merchants and offers a spending-focused wallet. We built Paybis to simplify buying and selling crypto through a straightforward payment gateway focused on speed and support.

The biggest mistake in crypto is choosing a platform that does not match your experience level. This guide breaks down who each platform is actually built for.

At a Glance: The Core Differences

These three platforms are not direct competitors. They solve different problems at different stages of crypto adoption.

Feature	Paybis	Kraken	BitPay
Primary use case	Instant buy	Pro trading	Crypto spend
Best for	New users	Active trade	Merchants
Speed	Instant	Slow wires	Varies
Complexity	Simple UI	Advanced UI	Wallet flow
Support	24/7 chat	24/7 chat	Email only

Paybis operates in 180+ countries with support for 20+ payment methods including credit cards, Apple Pay, Google Pay, and local options like PIX. Kraken offers advanced trading tools with low fees starting at 0.25% maker / 0.40% taker. BitPay enables shopping with merchants and paying bills by converting crypto to spendable dollars through their Mastercard.

The right platform depends entirely on your goal: holding crypto long-term (Paybis), day-trading for profit (Kraken), or using crypto for everyday purchases (BitPay).

Paybis: The Best Option for First-Time Buyers

Paybis is for one specific job: convert dollars into Bitcoin in under 15 minutes without requiring any trading knowledge. No charts. No order books. No confusing fee structures that surprise you at checkout.

The Calculator Interface

Paybis’ fees are calculated in a simple calculator interface where users enter the amount they want to spend and immediately see exactly how much crypto they’ll receive. The fee breakdown appears before payment details: Service Fee (starts from 1.49%; first card transaction has 0% service fee), Processing Fee (4.5-8.5% for card transactions over $50 depending on currency), and Network Fee (varies by blockchain congestion). For a $500 Bitcoin purchase, expect to pay approximately $531.45-$555.45 total.

“Paybis made it very simple and straightforward to get into the exciting world of crypto in a matter of minutes!” – Islam R on G2

This transparency eliminates the checkout surprise that frustrates users on other platforms. We show all fees upfront before users commit to the transaction.

Verification in Under 2 Minutes

We complete verification within 15 minutes when documentation is provided correctly, with the process taking about 2.5 minutes for most users. Users upload a government ID photo and take a selfie. Our automated system checks documents using photo recognition technology. Most users get approved before their coffee gets cold.

“The Paybis app it’s the easiest I’ve ever used it was the easiest I got to get verified” – Tammy on Trustpilot

Compare this to Kraken where verification can range from 15 minutes to several days. Watch this beginner’s guide to buying Bitcoin on Paybis to see the complete flow.

24/7 Human Support

We operate around-the-clock with average response time of ~15 seconds to online chats. When a transaction fails or an account is locked, users talk to a real person who can investigate and fix it. We offer support in 30+ languages including English, French, Korean, Arabic, Spanish, German, Italian, and Russian.

“I appreciate Paybis for its ability to facilitate instant cryptocurrency purchases using my card… I found the initial setup with Paybis to be easy and fast” – Denis I on G2

This is the safety net that matters when dealing with your money.

Pros and Cons

Strengths:

• Instant card transactions with settlement time near-to-instant (depends on blockchain)
• Simple interface perfect for beginners and first-time investors
• All fees shown upfront with transparent pricing
• Registered with FinCEN (US entity 31000272911973; PL entity 31000277275964) and FINTRAC (PL entity C100000816; CA entity C100000646; UK entity M22061209)
• Access to 20+ payment methods across 180+ countries

Trade-offs:

• Higher fees than trading platforms (premium for speed and simplicity)
• No trading features like charts or order books
• More focused crypto selection (90+ cryptocurrencies) compared to major exchanges’ hundreds

Verdict: Paybis is a reliable, go-to option for people who want to own Bitcoin today without becoming crypto experts. If you value your time and need human support when things go wrong, the premium is worth it.

Kraken: For Active Traders

Kraken’s mission is to accelerate global crypto adoption by serving both individual and institutional investors who want advanced trading tools with low fees.

Pro Trading Features

Kraken offers full candlestick charts, live order books, and advanced order types including limit, market, stop loss, and trailing stops. This platform serves users who understand maker/taker fees and want to optimize every transaction.

Base spot trading fees are 0.25% for makers and 0.40% for takers. For a $500 Bitcoin purchase using instant buy with a card, expect to pay Approximately $517-518 total. Instant Buy with cards charges a 1% trading fee plus spread (totaling approximately 3.5% combined according to independent analysis). Trading on Kraken Pro reduces fees to 0.25% maker / 0.40% taker but requires wire transfer funding with multi-day delays

The complexity is the cost of these savings. Accessing the lowest fees requires learning the Pro platform with its trading pairs and order types.

Security Track Record

Kraken is one of the few exchanges never hacked since launch. The platform maintains quarterly Proof-of-Reserves, a MiCA license in the EU, and operates as a custodial wallet service where the platform holds private keys.

Support Concerns

While Kraken offers 24/7 customer service through live chat, the platform shows concerning support quality issues. Trustpilot displays a low rating with complaints about verification delays, account restrictions, and fee confusion. Verification times range from 15 minutes to several days.

Pros and Cons

Strengths:

• Lowest fees for active traders (0.25% maker / 0.40% taker)
• Advanced trading tools for experienced users
• Strong security record with no major hacks
• Regulatory compliance with quarterly audits

Trade-offs:

• Complex interface overwhelming for first-time buyers
• Verification delays ranging from 15 minutes to several days
• Low Trustpilot rating with support complaints
• Wire transfer requirements for Pro trading cause multi-day delays

BitPay: For Merchants and Spenders

BitPay is a cryptocurrency payment service provider that enables users to shop with merchants, pay bills, and send money globally by turning crypto into spending power.

The BitPay Card and Spending

Users can load the BitPay Card directly from their crypto wallet and use it for everyday expenses. The card functions like a prepaid Mastercard where users can only spend the loaded amount. BitPay handles crypto-to-fiat conversion when loading the card.

Merchant Services

Merchants can add cryptocurrency payments to their websites with integrations for Shopify, WooCommerce, and Magento. Crypto payment fees are typically less than half of credit card processing costs, and blockchain payments are irreversible, eliminating chargeback fraud.

Non-Custodial Wallet

BitPay operates as a non-custodial wallet where users control their private keys and maintain complete control over assets. This differs from custodial exchanges like Kraken.

Pros and Cons

Strengths:

• Direct spending power at merchants without manual conversion
• Non-custodial wallet where users control private keys
• Licensed crypto payments company with KYC/AML compliance
• Lower merchant fees than traditional processors

Trade-offs:

• Not designed as a primary buying platform for beginners
• Customer support tends to be slow with multi-day response times
• Mixed reviews with complaints about account approval delays
• Network fees apply to all blockchain transactions

Feature Comparison: Fees, Speed, and Support

Total Cost for $500 Bitcoin Purchase

Paybis: Approximately $530-533 total for USD/EUR/GBP/JPY cards (up to $537 for other currencies). Service Fee starts from 1.49% (first card transaction has 0% service fee), Processing Fee is 4.5-8.5% for card transactions over $50 depending on currency, plus Network Fee varies by blockchain congestion.

Kraken: Approximately $522-526 total. Instant Buy with cards charges 3.75% + €0.25. Trading on Kraken Pro reduces fees to 0.25% maker / 0.40% taker but requires wire transfer funding with multi-day delays.

BitPay: Cost varies by payment partner. BitPay does not mark up transactions, but all blockchain transactions include network fees that vary by coin and congestion.

The difference is not just the dollar amount. It is the time cost. We deliver Bitcoin in 15 minutes. Kraken’s lowest fees require 3-5 day wire transfers. For most first-time buyers, waiting days to save $10-15 is not worth it.

Speed: Verification and Transaction Time

Paybis: Verification completes within 15 minutes, averaging 2.5 minutes for most users. Card transactions process instantly with settlement time near-to-instant depending on blockchain.

Kraken: Verification ranges from 15 minutes to several days. Instant Buy with cards is available immediately after approval, but wire transfers for Pro trading take 3-5 business days.

BitPay: BitPay ID verification for dashboard access takes 24-48 hours according to official documentation, though some users report longer delays for merchant account approvals. When purchasing through BitPay’s partner providers (Simplex, MoonPay, etc.), verification times vary by partner from instant to several days.

Support: Response Time and Quality

Paybis: 24/7 support with average response time of ~15 seconds to online chats. Users receive clear responses within 30 minutes through email, ticketing system, and mobile app. Available in 30+ languages.

Kraken: 24/7 customer service through live chat with trained specialists. However, Trustpilot shows concerns with verification delays and fee confusion. Support quality is inconsistent.

BitPay: Customer support tends to be slow with multi-day response times. Email and ticket systems are the primary channels. No live chat option for urgent issues.

Security: Compliance and Track Record

Paybis: We are registered with FinCEN (US entity 31000272911973; PL entity 31000277275964) and FINTRAC in Canada (PL entity C100000816; CA entity C100000646; UK entity M22061209). We also hold registration with Revenue Chamber in Katowice as a VASP in Poland (RDWW-805). Operating since 2014 with zero major security breaches. Learn more about our security measures in this review.

Kraken: One of the few exchanges never hacked since launch. Maintains quarterly Proof-of-Reserves and a MiCA license in the EU.

BitPay: Licensed crypto payments company with KYC and AML compliance. Received virtual currency license from New York DFS in 2018. Operates as non-custodial wallet where users control private keys.

Understanding Your Options

Paybis was built for people who want to buy crypto quickly without navigating complex trading platforms. For first-time Bitcoin buyers who need crypto in their wallet today with 24/7 human support, Paybis designed the platform specifically for that experience.

“I love using Paybis, at first I had some challenges but now it is so easy to use.” – S. JEFRIES on Trustpilot

The calculator interface shows exact costs before users enter payment details. Verification completes in under 15 minutes for most users. Card transactions process instantly. For casual investors making 1-5 crypto purchases per month, Paybis delivers without requiring users to learn trading terminology or wait days for bank transfers.

When Other Platforms Make Sense

Kraken serves active traders who execute 10+ transactions monthly and want to minimize per-trade costs. The platform offers advanced tools like order books, limit orders, and maker/taker fee structures. Traders willing to wait 2-7 days for wire transfers can access fees as low as 0.25%. Kraken maintains a strong security track record with quarterly Proof-of-Reserves audits and has never been hacked since 2011.

BitPay focuses on spending crypto rather than buying it. The platform enables users who already own crypto to spend it at merchants through a prepaid Mastercard or accept crypto payments as a business. BitPay operates as a non-custodial wallet where users control their private keys.

The right platform matches the user’s immediate goal. Active traders benefit from Kraken’s low per-trade fees. Businesses accepting crypto payments benefit from BitPay’s merchant tools.

Why Choose Paybis?

Paybis focuses on one job: converting dollars to Bitcoin in under 15 minutes for people who don’t want to become traders. Paybis has 30,300+ Trustpilot reviews with a rating of 4.1 out of 5 from users who value speed, transparency, and support over learning complex trading interfaces.

Create a Paybis account to verify in under 15 minutes, see exact total costs at checkout, and get Bitcoin in wallet today. The first credit card transaction has 0% service fee, with fees starting from 1.49% on subsequent purchases.

Key Terminology

Custodial Wallet: A service like Kraken where the platform controls private keys and safeguards funds. You trust the exchange’s security rather than managing your own keys.

Non-Custodial Wallet: A wallet like BitPay where the user has sole access to private keys and complete control over assets.

Network Fee: The cost miners or validators charge to process transactions on the blockchain. This fee varies by cryptocurrency, network congestion, and transaction size.

Maker/Taker Fees: Trading platform charges where makers add liquidity by placing limit orders (lower fee) and takers remove liquidity by executing market orders (higher fee). Relevant for Kraken Pro trading.

KYC Verification: Know Your Customer identity checks required by regulated platforms. Involves uploading government ID and taking a selfie to comply with anti-money laundering laws.

Ready to buy crypto now? Sign up for Paybis, complete identity verification in 2 minutes, and see your exact total cost at checkout with fees starting from 1.49%. Your first credit card transaction has 0% service fee.