Yes, Paybis is Safe for Litecoin: Here’s Why (FinCEN, Cold Storage, 2FA)

Key Takeaways

Yes, Paybis is safe for buying Litecoin. We’re registered with FinCEN in the United States and FINTRAC in Canada, operating since 2014 with zero major security breaches. We protect user funds using cold storage for offline security, Two-Factor Authentication (2FA) for account access, and transparent fee disclosure before every transaction. We serve 1.8M+ users across 180+ countries with 24/7 live chat support available when you need help.

You’ve heard the horror stories. FTX collapsed. Mt. Gox vanished with customer funds. Binance locked accounts without explanation. Now you want to buy Litecoin, but the question keeping you from clicking “purchase” is simple: Will this platform steal my money?

Here’s the direct answer. We’ve operated since our founding in 2014 with zero major hacks affecting customer funds. We’re regulated by US and Canadian financial authorities, store most funds in offline cold storage, and process transactions with the same security standards your bank uses for credit cards.

Your security concerns answered:

• “Is this a scam site?” We’re registered with FinCEN (US) and FINTRAC (Canada), operating since 2014 with 1.8M+ users across 180+ countries.
• “Will fees surprise me?” All fees show before you pay. The calculator displays exactly what your card gets charged.
• “What if my money gets stuck?” 24/7 live chat connects you with real humans who respond quickly.
• “Do I actually own this Litecoin?” You can send it to your own external wallet immediately after purchase.

Is Paybis Legit? The Short Answer

Yes, we’re a legitimate cryptocurrency exchange registered with government financial authorities in multiple countries. We launched in 2014 and currently serve 1.8 million users. We’re not a scam site, a phishing operation, or an unregulated offshore platform. We’re a registered financial business accountable to US, Canadian, and UK government agencies.

Key legitimacy indicators:

• Regulatory registration: FinCEN (United States) Money Services Business registration #31000224635628 and FINTRAC (Canada) registration #M22061209
• User base: 1.8 million registered users from 180 countries with cumulative transaction volume exceeding $2 billion
• Customer reviews: 3.9 out of 5 stars on Trustpilot based on 29,000+ reviews, with 75% giving five-star ratings
• Track record: Operating continuously since 2014 with no major security breaches or customer fund losses

We aren’t a trading exchange like Binance with hundreds of trading pairs. We function as a cryptocurrency payment gateway that converts your dollars into Litecoin and sends it directly to your wallet. You don’t need to understand trading terminology or navigate complex interfaces.

For a visual guide on our approach to securing your crypto watch our tutorial below:

“I appreciate Paybis for its ability to facilitate instant cryptocurrency purchases using my card, which significantly enhances the efficiency of my transactions.” – Verified user review of Paybis

5 Security Features That Protect Your Litecoin

Security isn’t one feature, it’s layers of protection working together. When you buy Litecoin on Paybis, five security systems protect your funds and personal information simultaneously.

1. Government Registration (FinCEN and FINTRAC)

We aren’t an unregulated offshore website. We operate as a registered Money Services Business under FinCEN (Financial Crimes Enforcement Network), the US Treasury Department’s financial crimes enforcement agency. Our registration number: 31000224635628. In Canada, we’re registered with FINTRAC (Financial Transactions and Reports Analysis Centre) under number M22061209.

What this means for you: We must follow the same anti-money laundering laws that banks follow. We submit to government audits and report suspicious activity to federal authorities. If we violated financial regulations, the US and Canadian governments could shut down our operations.

Money Services Business registration must be renewed every two years. FinCEN deletes registrations that aren’t renewed, so our active MSB number indicates current compliance with federal financial regulations. We also operate under UK FCA registration and maintain compliance with European Union financial regulations.

2. Cold Storage and Custodial Wallets

When you buy Litecoin, it goes to one of two places: our secure custodial wallet or directly to your own external wallet. We store the majority of user funds in cold storage, offline vaults that hackers cannot reach through internet connections.

What this means for you: Even if hackers breach our website, they cannot reach your Litecoin stored offline.

You have two options when purchasing:

Option A: Our free custodial wallet
If you don’t have a Litecoin wallet yet, we provide one free where we manage security on your behalf. We use MPC (Multi-Party Computation) technology to fragment and distribute private keys across multiple secure locations.

Option B: Your own external wallet
You can purchase Litecoin and send it directly to a hardware wallet or software wallet you control. We don’t store your funds in this case, eliminating platform risk entirely.

Watch our breakdown to help you pick a safe exchange like Pyabis for your crypto transactions and storage.

3. PCI DSS Level 1 Compliance

When you enter your Visa or Mastercard details to buy Litecoin, we protect that payment information through PCI DSS Level 1 compliance. The highest security standard for processing credit card payments.

What this means for you: We use the same security standard that Amazon and your bank use. Your payment details are encrypted and protected by the same protocols that secure your information when shopping online anywhere else.

PCI DSS Level 1 applies to merchants processing over six million card transactions annually and requires annual on-site security assessments by qualified auditors, quarterly network vulnerability scans, and continuous monitoring for security threats.

4. Two-Factor Authentication (2FA)

Password theft is one of the most common ways accounts get compromised. We support Two-Factor Authentication to add another security layer to your account.

What this means for you: Even if someone steals your password, they cannot access your account without also having your phone.

When you enable 2FA, you’ll download an authentication app (like Google Authenticator) that generates a new six-digit code every 30 seconds. You’ll enter this code plus your password when logging in. We also offer passwordless login with One-Time Passwords sent to your email for quick access.

5. Real Human Support (24/7)

In cryptocurrency, support is a security feature. When something looks wrong with your transaction or your account shows unexpected activity, you need to talk to someone immediately.

What this means for you: You connect with a real person when you need help, not an automated bot.

We offer 24/7 customer support with live chat available around the clock, 365 days a year. Support channels include live chat, email at support@paybis.com, and our extensive support portal.

Important: We don’t provide phone support and will never call you. If someone calls claiming to be from Paybis support, it’s a scam. We only communicate through chat and email.

“I find your way of sending crypto so very easy. It’s not 50 different steps like other platforms. I get feedback on what is happening whether it fails or passes. You’re just a wonderful platform to work with.” – Verified user review of Paybis

Understanding Litecoin Transaction Fees on Paybis

One of the biggest trust-breakers in cryptocurrency is hidden fees. You see “$100 purchase” at checkout, then your credit card gets charged $137. We take the opposite approach: all fees are shown before you confirm payment.

When you buy Litecoin on Paybis, three separate fees apply:

1. Service Fee (our commission)
For your first credit or debit card purchase, the service fee is $0. We waive this fee to let you test the platform. For subsequent card purchases, the service fee is 2.49%. For incoming bank transfers, the service fee is 0.99%.

2. Processing Fee (payment processor charges)
For credit and debit cards, the processing fee is 4.5% for transactions over $50. For transactions under $50, flat fees apply: $2 for $5-$20, $3 for $20.01-$50.

3. Network Fee (blockchain transaction cost)
This fee goes directly to Litecoin miners who verify your transaction on the blockchain. We don’t profit from network fees; this is a pass-through cost required by the Litecoin blockchain itself. Fees vary based on network congestion.

Example: $500 Litecoin purchase with credit card (first-time buyer)

• Litecoin purchase: $500
• Service Fee (first purchase waived): $0
• Processing Fee (4.5%): $22.50
• Network Fee (estimated): $0.50
• Total charged to your card: $523.00

Example: $500 Litecoin purchase with credit card (returning buyer)

• Litecoin purchase: $500
• Service Fee (2.49%): $12.45
• Processing Fee (4.5%): $22.50
• Network Fee (estimated): $0.50
• Total charged to your card: $535.45

The calculator on our Litecoin purchase page shows the exact amount of LTC you’ll receive and all fees before you enter any payment information. What you see is what you pay. No surprises when your card statement arrives.

Watch how to use the calculator below:

The trade-off: You pay more for instant card transactions (vs. 3-day bank transfer delays), a simple calculator interface (vs. complex trading charts), and 24/7 human support (vs. automated bots). For buying Litecoin once or twice to hold long-term, getting your cryptocurrency within 15 minutes with zero confusion is worth the premium.

How to Buy Litecoin Safely in 4 Steps

The entire process takes under 15 minutes for most users. Here’s exactly what happens at each step.

1. Select Litecoin and enter amount

Visit our Litecoin purchase page and use the calculator. Select “Litecoin (LTC)” from the cryptocurrency dropdown, then enter how much you want to spend. The calculator instantly shows the exact amount of LTC you’ll receive and all three fees before you proceed. Choose your payment method: credit card, debit card, Apple Pay, Google Pay, or bank transfer. First-time card purchases have zero service fees.

2. Verify your identity (typically 15 minutes)

We’re legally required to verify customer identities under Know Your Customer (KYC) laws. Verification typically completes within 15 minutes, though automated approval can happen in under 5 minutes.

We accept identity documents from over 220 countries, including passports, driver’s licenses, government-issued ID cards, and residence permits. Upload a photo of your government ID, then take a selfie with your phone or computer camera. The system automatically compares your selfie to your ID photo and verifies document authenticity using Sumsub verification.

In most EU regions, you can purchase up to $1,000 without verification. In the UK, full KYC verification and a 24-hour cooldown are required before any transaction. Watch just how quick verification (2 minutes) is with our guide below:

3. Enter your Litecoin wallet address

You have two options:

Option A: Use our free custodial wallet. We create one automatically when you create an account. Your Litecoin arrives in your Paybis wallet where you can store it, send it to others, or withdraw it to an external wallet later.

Option B: Use your own external wallet. Paste your Litecoin wallet address from your hardware wallet (Ledger), software wallet (Exodus), or another exchange. We’ll send your LTC directly there. Double-check the address, cryptocurrency transactions cannot be reversed.

4. Complete payment

Enter your credit card details or select your payment method. For card purchases, complete 3D Secure verification (a text message from your bank confirming the transaction). Once payment is confirmed, we immediately send the cryptocurrency to your specified wallet.

You’ll receive an email confirmation with transaction details and a blockchain explorer link to track your transaction’s progress. Delivery time varies: for our custodial wallet, Litecoin typically arrives within minutes; for external wallets, delivery depends on Litecoin network speed and blockchain confirmations.

“Paybis is incredibly user-friendly, even for beginners. The interface is clean, the process is straightforward, and transactions are completed quickly. I especially appreciate the transparent fee structure—no hidden costs or surprises.” – Verified user review of Paybis

Watch this beginner’s tutorial on buying Bitcoin instantly process for Litecoin is identical.

https://www.youtube.com/watch?v=MyBTFkK8D-c%29%E2%80%94the

Buying Litecoin with Confidence

Buying cryptocurrency safely requires choosing platforms with multiple layers of protection. We combine government regulatory oversight (FinCEN and FINTRAC registration), institutional security standards (cold storage and PCI DSS Level 1 compliance), account protection (2FA), and transparent operations (all fees shown upfront, 24/7 human support).

We’ve operated since 2014 with zero major security breaches affecting customer funds. We serve 1.8 million users across 180 countries. If you want to own Litecoin within 15 minutes and value peace of mind, we deliver on that specific job.

Ready to buy Litecoin safely? Visit Paybis to see exact fees for your purchase amount. Your first credit card transaction has zero service fees. Verification takes under 15 minutes, and Litecoin arrives in your wallet within minutes.

Key Terminology

Cold Storage: Storing cryptocurrency offline in devices never connected to the internet, protecting funds from online hacking attempts by keeping private keys on physical devices in secure locations.

Custodial Wallet: A cryptocurrency wallet where we control the private keys and manage security on your behalf, providing features like password recovery and accessible interfaces.

Network Fee: The cost paid to blockchain miners who verify and confirm cryptocurrency transactions, varying based on network congestion and going directly to miners.

Two-Factor Authentication (2FA): A security method requiring two separate forms of verification (password plus phone code) before allowing account access, preventing unauthorized access even if someone steals your password.

KYC (Know Your Customer): Legal requirements for financial platforms to verify customer identities using government-issued documents, preventing money laundering and ensuring compliance with international financial regulations.