Review on Piixpay by The hsotaka
My review about PiixPay
Today i want to share my experience with Piixpay, an Crypto to Euro exchange.
First i have to say: If you are searching for a exchange where you can spot trade, leverage trade or swap you tokens, Piixpay isn't the right place for you.
But that's nothing bad, you just have to know what the intension of this exchange is. Piixpay is a "cash out" exchange for european users.
There are around one hundred coins and tokens which can be sold on Piixpay. You can sell all of these tokens for Euro and automatically withdraw your fiat to your bank account. Set your IBAN in the settings and all of the tokens you exchange, will be transferred to your EUR bank account. The SEPA technology of the European space makes it possible to send cheap transactions to a lot of different IBANs, probably that's the reason why Piixpay only provides the possibility to exchange crypto to EUR.
One of the greatest feature is their Instafill product.
You can set your IBAN and crypto deposit adresses. All coins and tokens which will sent to these deposit adresses will be automatically converted to EUR and transferred to your bank account. If you are running a business which earns crypto, you always have the need to convert your crypto to pay the bills. The Instafill feature its a fantastic way for it because there is no need any longer to manually sell your different coins and tokens on different places and exchanges.
Of course PiixPay want to make money too, so keep in mind that there is always a relatively high premium on the conversion rates. They should lower it a bit (at least for the stable coins).
You can see in my Screenshot that you will pay around 3-4% premium if you are selling your USDC for EUR.
Pros
- Great exchange for European user.
- If you are running a business which earn money in crypto, there is no better way to automatically convert you crypto in to EUR.
Cons
- The premium/spread is a bit too high.
- Would be great if they would add more fiat currencies to increase the customer range.
New products
Comments (1)
July 23, 2020
Hello, Hsotaka! It's always nice to read, I share your thoughts according to the good offers of this exchange. Personally, it has some unique features that make it appropriate, and as I said it is a kind of Hybrid exchange. I think trading cryptos with high support on Euros currency will lead the company on a stable road.
You, who are living in Europe, can enjoy most of its excellent benefits, and although I also have chances for trading with it, the service is not available in my country, so I cannot have a total immersion on it. However, I am inside the platform and follow its coming updates.
