Our Review of Paymium for Buying Bitcoin

Planning to buy Bitcoin and looking for a reliable, easy-to-use platform with no hidden fees?

We have tested more than twenty exchanges, and here is our objective, enthusiast’s review.

Paymium is a France-regulated Bitcoin purchasing platform. Founded by Pierre Noizat and Gonzague Grandval in 2011, it is the oldest platform still operating. Holding PSAN registration granted by the Autorité des marchés financiers (AMF), Paymium is a trusted platform with positive reviews.

This article covers:

• Paymium’s philosophy and its CEO,
• the platform’s pros and cons,
• the fees for buying Bitcoin,
• the range of available cryptocurrencies,
• the assurances provided by PSAN registration.

This will help you weigh the pros and cons before signing up with Paymium. If the platform suits you, you can buy Bitcoin with confidence.

We selected this platform after several years of use. This article is not sponsored by Paymium, but you can support us by using our referral links.

First, let’s find out who is behind the company.

Paymium’s origins and philosophy:

Initially launched under the name of Bitcoin Central in 2011, the platform was renamed Paymium in 2014. Regulated in France, PAYMIUM SAS holds PSAN registration number E2021-011. It now employs more than 19 people in the Paris region.

At the end of 2018, the company created Blockchain.io, which merged with Paymium two years later.

Pierre Noizat: a Cypherpunk founder grounded in Bitcoin’s ethos:

One likely reason for Paymium’s longevity is its CEO’s long-term vision. Pierre Noizat is an engineer deeply involved in cryptography. Keeping up with developments in the field, he was among the recipients of the famous email in which Satoshi Nakamoto announced the creation of Bitcoin.

One of Pierre Noizat’s major challenges was building his platform in France . He had to fight to find and keep banking partners, then resist the temptation to relocate the company’s headquarters.

Paymium’s advantages:

The platform’s longevity:

If Paymium has achieved one remarkable feat, it is surviving every Bitcoin market upheaval. As noted in the introduction, it is the oldest platform still operating. The company has chosen a conservative, cautious policy to avoid putting users’ funds at risk.

Security of funds:

Paymium manages client funds with great care. Deeply influenced by Bitcoin’s original philosophy, the company does not use fractional reserves or speculate with client money. 99% of clients’ funds are held in cold storage, in wallets disconnected from the internet to prevent hacks.

Paymium lets you withdraw your bitcoins:

Whatever platform you use, we recommend moving your funds to a private wallet that only you can access. As the saying goes “Not your keys, not your bitcoins” you must control the private keys that give access to your funds. Withdrawing your bitcoins from platforms protects them from potential hacks or failures. It also improves your privacy and makes your bitcoins harder to seize.

• For more, read our article on how to secure your bitcoins !

Fortunately, most platforms allow withdrawals, without which Bitcoin loses some of its appeal. Beware: some platforms charge exorbitant withdrawal fees.

The lowest fees on the market:

Paymium has introduced an innovative system that is highly advantageous for users. Paymium waives fees and provides a small rebate whenever you place what is known as a “Maker”. We explain everything below in the section on fees!

A recurring Bitcoin purchase feature (DCA):

In our view, the best way to buy Bitcoin is to spread purchases over time. By distributing the amount you want to invest over a year, you acquire BTC at an average price and reduce the impact of volatility. Bitcoin is an asset on steroids, with a market that goes through successive phases of extreme euphoria and depression.

• Read our article on the benefits of dollar-cost averaging.

Paymium supports this feature through its Recurring Purchase Plan. This lets you automatically invest a set amount every day, week, or month. The feature is available starting with a €10 investment!

3 interfaces available: Beginner / Advanced / Trader:

Whether you are a trader or a cautious, long-term investor, Paymium has an interface for you.

• Beginner: Buy Bitcoin at the market price by entering only the amount in euros you want to invest (first image).
• Intermediate: Place a limit order to buy Bitcoin at your chosen price (second image).
• Trader: Traders get a customizable trading interface: chart types, available indicators, colors, and more (third image).

APIs can also be configured for algorithmic trading using bots.

Potential drawbacks for some customers:

No platform can please everyone. Some customers may view the following points as drawbacks.

A very conservative approach:

Although security and caution are strengths, some users would like to see more innovation and creativity.

In practice, its strategy has been the opposite of Binance or Crypto.com’s: few new features and little risk-taking, but services of impeccable quality. Paymium’s teams excel at the services they offer, but take a long time to add new features.

A focus on Bitcoin (and now Ethereum):

For more than 10 years, Paymium offered only Bitcoin buying and selling. The platform has begun expanding into altcoins with Ethereum. It now says five more cryptocurrencies should soon be available for trading: Litecoin, Bitcoin Cash, BCIO, BAT, and Dai (a stablecoin pegged to the US dollar).

As Bitcoin enthusiasts who are somewhat wary of altcoins, this does not bother us personally. But it is a genuine limitation for many users. Once again, Paymium has chosen a different strategy from many fashionable platforms.

Our opinion on Paymium’s fees:

Paymium’s fees are very affordable, since you can have your fees waived and receive a bonus depending on the type of order you place. Fees vary depending on whether you place a “taker” or “maker” order.

• Maker orders: No fee + a bonus equal to 0.1% of the order value. The platform effectively pays you to place an order.
• Taker orders: Fee of 0.5% of the order value.
• Bitcoin withdrawal fee : Free!

To place a maker order, submit a buy order in the platform’s order book and specify the price you want to pay (a “limit”). The platform subsidizes this type of order because you help facilitate trading by providing liquidity.

orders “taker” are so-called “market”, where you do not specify a particular purchase price.

What is the value of PSAN registration issued by the AMF?

PSAN stands for Digital Asset Service Provider. This is a registration granted by the Autorité des marchés financiers, in force since Decree No. 2019-1213 of November 21, 2019. It is mandatory for platforms that buy, sell, and custody Bitcoin in France.

This regulation was introduced to protect consumers and bring platforms into compliance with anti-money-laundering and counter-terrorist-financing measures.

In our view, this is strict and demanding regulation for French platforms. The registration can be difficult for young startups to obtain and may hinder innovation. However, PSAN registration can reassure you that a platform is serious and accountable to the AMF.

Buy your bitcoins safely with Paymium!

As you can see, Paymium is one of the trusted platforms we recommend to our readers without hesitation. Its ease of use and low (even negative!) fee policy make it, in our view, an ideal platform for individual investors.

Whether you are discovering Bitcoin or investing a substantial amount, Paymium offers a way to gain exposure to Bitcoin’s price securely. It is a platform for the sensible investor who wants to avoid “crypto-casinos”.

Sign up with Paymium now by clicking the button below: