Paymium is the first Bitcoin trading platform operates in compliance with European regulations

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Country: Francepaymium
Year: 2011

Paymium offers exchange services for individuals and payment solutions for merchants.

Concept

  • Paymium offers a secure, reliable, high-performance trading platform in compliance with European regulations
  • It has launched an advanced trading interface designed to provide a quick access to all the market information
  • It also supports money transfers by mail in euro or bitcoin throughout Europe and with no fees
  • The company has been teaming up with other firms in the cryptocurrency and payments industries in order to enhance its services:
    • Worked with Showroomprive, a major European online retailer
    • Partnered with leading POS payment terminals manufacturer Ingenico Group
    • Partnered with micropayment provider Optelo which brings 10,000 new merchants

Consumer Benefits

  • Simple & Convenient: with Paymium, European merchants can accept payments in Bitcoin with instant conversion to Euro without fee
  • Secured: bitcoins in deposit are kept in cold storage and none of them are stored directly on customer-facing servers. Bitcoin private keys are split in secret shares then stored in bank vaults, in different cities, to ensure that no bitcoin can be stolen even if a bank vault is compromised

How to use

  • A user has to first create a Paymium account and provide proof of identity and residence
  • Individuals: To buy or sell bitcoins, users simply enter the amount, and the exchange then “matches” buying and selling orders so that the transaction happens almost instantly
  • Merchants: merchants can integrate Bitcoin payment of their e-commerce websites in a few minutes or just use the payment button
  • Paymium will keep users’ bitcoins totally secured or transfer them to other storage means

Illustration

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