Bitbns Cryptocurrency Exchange Review (2020)

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Bitbns is part of Buyhatke Internet Pvt. Ltd. They are India’s fastest and easiest platform to trade cryptocurrencies in India. Bitbns offers the user the best buy and selling price mechanism in trading. Users can buy Bitcoin in INR, Ethereum in INR, XRP in INR. They can trade digital currencies in India at the lowest trading fee on high volume trade.

Since the inception of Bitbns, they were only trading Bitcoin, but now they have added many new cryptocurrencies to their platform, which has made it a top ranking app in the market. Another feature is that if you are a heavy trader, you should take advantage of the real-time trading with this app. You can monitor and track your crypto portfolio using this app. In addition to this, the company keeps hosting many flash sales. So, if you are willing to buy some BTC or XRP at discounted rates, then you can simply download this app and start making profits instantly.

Bitbns app currently allows users to trade coins like bitcoin, ripple, ethereum, neo, and users can store Bitcoin, Ripple, Ethereum, Neo, Stellar, GAS, Litecoin, Monero, RedPulse China, Deep Brain China, Siacoin, Dogecoin, Bitcoin Cash, Dash, Tron, Electroneum, Zilliqa and Ontology Network securely on the go.

Bitbns advantages

  • Low Trading fees. Bitbns has a trading fee of 0.25%, which decreases with the increase of the trading volume on a daily basis and can go to 0.18%. Compared to other Indian exchanges like Buyucoin, Zebpay, Unocoin, etc., charge higher fees.
  • Low Transfer fees. Depositing Bitcoin is free and withdrawing it costs BTC 0.001. For other cryptocurrencies withdrawals also have some small fees. Deposits in INR via NEFT/IMPS is also free, with a minimum deposit of INR 2000.
  • Lots of Coins. Bitbns has started off with just Bitcoin, but has expanded its offering and now offers more than 10 cryptocurrencies for trading. Most other Indian exchanges, except Buyucoin, have a very limited portfolio.
  • Convenient Fiat deposits. Bitbns supports most major INR deposit features, such as UPI (free and instant), NEFT, and IMPS. The major banks that Bitbns support are HDFC, Kotak, and ICICI.
  • Platform. Bitbns offers a decent trading platform, with price charts, order history and order book. 
  • Wallet. Bitbns offers its users a wallet to store their cryptocurrencies. Or they can use third-party wallets, if they so choose. 
  • Good Speed. Bitbns claims to offer instant trading, and perhaps this is the case, once the deposit is received and the user verified.
  • Symbolic minimum deposit requirement. Bitbns has some very symbolic minimum deposit requirement of INR 100.
  • “Limit trading” option. The user can specify the price of Bitcoin to buy or sell. The trade happens automatically whenever there is a seller/buyer who wants to trade at that price.
  • Good Customer support. Bitbns promises 24/7 customer support and a reply within 5 minutes.

Bitbns disadvantages

  • No Anonymity. Bitbns does not allow anonymous trading and requires clients to verify themselves with an ID and a PAN card in order to deposit INR. Before verifying, one can only view the price charts and order book or deposit cryptocurrencies.
  • No Leverage. Of course, like most cryptocurrency exchanges, Bitbns does not offer leveraged trading on cryptocurrencies. Traders who are more interested in speculating on the prices, rather than own the coins, can sign up for a regulated reputable forex broker that offers trading in CFDs with cryptocurrencies as an underlying asset on margin.
  • No Credit cards accepted. Bitbns does not accept deposits with credit cards, which is fairly common among the Indian cryptocurrency exchanges.

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