Home › Forums › Uniform Swap & Sell › How do you check a crypto platform is actually regulated before signing up?
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Necromancer
GuestI nearly got caught by a platform last year that looked completely professional, had a nice app, decent reviews on the surface, and turned out to be operating without any licence at all. Nothing happened to me in the end because I backed out before depositing, but it made me realise I have no actual method for checking whether a crypto service is legit. Reading the homepage tells you nothing, because anyone can write “regulated” on a landing page. What do you actually look at before you trust a platform with your ID and your card details? I am not looking for a shortcut, I want to know what a proper check looks like.
Stipe
GuestThe check I run now is simple, and it takes about five minutes. First, find the licence numbers on the site and verify them against the regulator directly, not against anything the site itself links to. Second, check whether they are registered with the relevant financial authority in the markets they claim to serve, because that registration is searchable. Third, look at how long they have been operating and whether there is a real company behind it, not just a brand name. For what it is worth, the Official Website https://paybis.com/ is one of the ones that passed that process for me. The licence details are published on the site rather than buried, they have been running since 2014, and the registrations are with named authorities rather than vague claims about being “fully licensed”. They also show the full cost before you pay, which is a separate signal, because platforms that hide fees tend to be the same ones that hide everything else. Run any platform through the same three checks before you deposit.
BF
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