Bitbns Review 2023
- What Is Bitbns Exchange?
- How Does Bitbns Exchange Work?
- Bitbns History
- Pros and Cons
- Registration Process
- Types of Orders
- Fees and Limits
- Deposit and Withdrawal Methods
- Supported Cryptos & Countries
- Supported Trading Pairs
- Bitbns API
- Referral Program
- Mobile App
- Security and Safety
- Customer Support
- Wrap Up
Bitbns is one of the most popular exchanges in India, which offers incredible services. The parent organization, Buyhatke Internet Private Limited was established in 2015. Bitbns, at present, has listed more than 100 cryptocurrencies on its platform, and it allows its customers to exchange, buy, and sell cryptocurrencies at the best prices by providing a simple and easy-to-trade intuitive user interface.
Bitbns was established in the year 2017 December, has over 1.2 million users, and has a 24-hour trading volume of USD 24 million. This crypto exchange India is one of the highest-ranking crypto exchanges among Indian users. Also, this exchange has a good review rating about its customer services that can be accessed 24×7. Read this Bitbns review to know more about this platform’s services, fees, security, and more such details in one place.
|Supported Fiat Currencies||INR|
|Transaction Fees||For Paying with BNS OFF – 0.25% |
For Paying with BNS ON – 0.2500% to 0.0300% (VIP 0 – VIP 9)
|Withdrawal Fees||It Varies among Different Cryptocurrency|
|Customer Support||24/7 via Mail, Raise a Ticket, FAQ, & Social Media Support|
What Is Bitbns Exchange?
As per our Bitbns India review, this platform, since its inception, offers the best cryptocurrency trading experience to its Indian customers. This cryptocurrency exchange can be used only in India, where the users need a phone number with an Indian code if they want to sign up on the exchange. This exchange does not allow non-resident Indians to avail of its services.
Bitbns is a well-known trading platform to exchange, buy, and sell cryptocurrencies. It also offers several cryptocurrencies on its exchange; tokenized assets can also be traded on this exchange. According to our Bitbns review, this cryptocurrency exchange offers crypto-to-crypto and crypto-to-fiat pairs and provides fiat currencies only in the Indian rupee. Further, traders can use standard electronic wallets or hardware wallets to store their money. Bitbns investment portfolios include numerous programs, and it is updated every month.
The investor should be aware that the minimum deposit on this platform is INR 100. Besides, the website offers an investment calculator and other financial instruments to help its users. This crypto exchange provides referral programs and educational resources to train new traders about blockchain technology, the latest updates, news, trading cryptocurrencies, etc.
How Does Bitbns Exchange Work?
As per our review, the first step is to register on the platform, for which the trader should visit the website of Bitbns and click on the signup button. The trader needs to offer basic details like name, email address, bank account details, phone number, and a strong password. They will be sent an OTP to their registered mobile number, and upon entering the OTP, they will be taken to the platform’s dashboard to start trading.
The investor should verify their KYC procedures if they want to deposit or withdraw fiat currencies. If they want to withdraw cryptocurrencies, they need to submit their national ID documents that contain their address proof and date of birth. These national documents include a passport, aadhar card, pan card, voter ID to complete the Bitbns KYC process.
As per our Bitbns review, after the KYC process, the users are taken to the platform’s dashboard to start trading. They can place buy or sell orders by suggesting the volume and the price of the cryptocurrency. By clicking on the submit button, the order is placed.
Bitbns founding members are enthusiastic adopters who have graduated from IIT. They knew about cryptocurrencies before starting the platform. They have developed several products that have helped their clients in various decision-making processes. In 2017 December, they created a cryptocurrency exchange to offer people entry into the world of cryptocurrencies. Also, Bitbns offers security and excellent customer support right from the start.
Features of Bitbns
Here are a few important features of Bitbns: –
- This platform is designed in such a way that it provides an easy-to-use and simple interface. It also offers price charts and useful information like order books and order history.
- According to several Bitbns reviews, fiat deposits are supported in local currency, INR. It provides the best crypto wallet to its traders to store their cryptos, and the users are allowed to use third-party wallets.
- Bitbns has its social media presence in telegram, Reddit, Facebook, and a newsroom specializing in blockchain, cryptocurrency news, blockchain information, opinion regarding wallets, blockchain guides, and crypto exchange news.
- The traders can set price alerts for different types of orders like limit orders, stop-limit orders, and bracket orders.
- It provides trade history information like volume and price. If the trader opts for bracket orders, they can set a trailing stop limit.
Services Offered by Bitbns Exchange
Here is the list of few services offered by Bitbns exchange:-
- Bitbns allows the users to make INR deposits and withdrawals directly through bank accounts or via the p2p trading process. Further, the users can trade Bitcoins as well as several altcoins.
- It also provides margin trading where the users can lend or borrow available cryptocurrencies as per their requirements.
- Another offering from Bitbns is Bitdroplet, a platform developed by Bitbns, which permits the investor to invest their funds and cryptocurrencies using a systematic purchase plan. Currently, this allows the users to invest only in Bitcoins.
- Bitbns also has another investment scheme known as FIP (Fixed Income Plans) that provides up to 13 % interest rate quarterly, monthly, weekly, and yearly.
Bitbns Review: Pros and Cons
|Provides easy-to-use and simple user interface.||Only Indian Rupees are used for fiat deposits.|
|Offers several tokens and cryptocurrencies.|
|Withdrawal processes are fast and charge a low trading fee.|
|Bitbns app is very user-friendly.|
|Offers a referral program for its users.|
|Bitbns regularly updates its currencies portfolio.|
|Provides training materials for new traders.|
Account Registration Process of Bitbns
- To get started with Bitbns platform, the first step is to sign up on the trading platform.
- The investor should offer information about their name, phone number, etc.
- They will receive an OTP sent to their mobile number.
- After entering the OTP on the box provided, they are taken to the platform’s dashboard, and they can start trading.
Types of Orders on Bitbns
Bitbns offers stop-limit orders, also known as conditional orders, executed when certain conditions are met. When the trigger price of the stock quoted is reached, the limit order is placed immediately on the order book. The trader can exit or enter the crypto market when they are certain about specific price momentum.
Trailing stop-limit orders are available on Bitbns, which offers a stop-limit interval for extra protection for their users. The users can minimize their risk with 3-in-1 bracket order. This order is a mixture of exit order, entry order, and trailing stop-loss order.
Bitbns Fees and Limits
As per our Bitbns review, if a trader holds $25 worth of Bitbns token, they can continue to trade with a flat rate of 0.25% as trading fees. If the trader uses margin trading, the Bitbns fees are charged to the lender who needs to pay a 15% commission on the interest they get on their principle. Further, the borrower need not pay any fees.
Also, if the trader uses Bitbns’s native BNS tokens, Bitbns fees will be based on the volume they trade with. The traders are not charged for depositing cryptocurrencies in their accounts, but Bitbns withdrawal fees are 0.0005 Bitcoin if they want to withdraw Bitcoins. For more information on fee structure visit the official website.
Bitbns Deposit and Withdrawal Methods
For Bank Deposit or Withdrawal
When the investor completes the verification process, they can add money to wallet in INR from their trading dashboard. They need to click on the wallet button, and the trader will be taken to the account page. On the account page, they need to click add money to the wallet and follow the instructions. The funds can be deposited via IMPS/NEFT/UPI/RTGS. Also, the user can deposit INR through credit card, debit card, or internet banking using the Mobikwik deposit method.
If the trader wants to withdraw INR, it is easy and fast. The trader needs to click on the wallet button on the platform’s dashboard. It will take the user to an account page on which they need to click the withdrawal button. Next, they need to enter the amount they would like to withdraw. They will receive the money in their bank account.
For Cryptocurrencies Deposit or Withdrawal
When the users of Bitbns login to their accounts, they need to click on the wallet button, which will take them to the account page. The account page will show the number of cryptocurrencies that are left on the account. Then they need to click the deposit button of their preferred cryptocurrency for generating a wallet address. This address will be used to deposit their cryptos in their wallet.
If the investor wants to withdraw in cryptocurrencies, a small withdrawal fee is charged. When the trader logs in to the account, they need to click the wallet, which will take them to the account page. Then they need to select the withdrawal button of their preferred currency and inform the volume of the cryptocurrency they would like to withdraw and the address they want to send the cryptocurrency to.
Bitbns Accepted Payment Methods
Here are the accepted payment methods of Bitbns. Investors can transfer their funds through:-
Bitbns Supported Cryptocurrencies & Countries
According to several Bitbns reviews, Bitbns supports only Indian customers. Currently, it supports more than 100 cryptocurrencies. A few of the cryptocurrencies supported by Bitbns are Bitcoin, Ethereum, Litecoin, Binance Coin, Neo, and several more.
Trading Pairs Supported by Bitbns Exchange
Some of the top trading pairs supported by Bitbns are:-
- BTC/USDT and several more.
Bitbns project is designed for assisting the users in developing their projects that interact with Bitbns API. On the website, we can see a Ticker API page; when the trader clicks it, it opens a window and provides information on the last traded price and volume. This API trading was launched in September 2018, and since then, it is known as one of the best crypto exchanges. That’s why users opt this platform more, as it provides many benefits and services altogether.
Bitbns Referral Program
Bitbns offers an affiliate program for its users. The trader should verify their account if they want to participate in this program. When the verification process completes, a referral link gets available on the trader’s account.
Any friend or relative who follows the user’s link and registers on the trading exchange will become a referral. If the referral starts trading without a verification process, they will not get any payments, and the user will get 10% as a commission fee for their trading.
If the referral has been verified and they start trading, INR 100 net worth of BTC will be added to the referral’s account, and 50% of the commission fees will be added to the user’s account.
Bitbns Mobile App
Bitbns offers a mobile app for both Android and iPhone customers. It is effortless to use; the app is quick, and it performs all the operations that can be performed on desktops. The trader can deposit their fiat money through the mobile app, and the amount is credited to the account within less than a few minutes. The application’s user interface is very simple and sleek; it helps users navigate through the app easily. This application clearly displays order books and other information on small screens.
Bitbns Arbitrager App
The users can get the Arbitrager app powered by this exchange to enjoy a seamless experience. They can use Bitbns extension or a mobile app to check arbitrage opportunities about Bitbns and Binance, gate.io, Huobi, and Kucoin.
Bitbns Review: Security & Safety
Bitbns offers the most advanced technology and grade-A security architecture. In this way, it ensures that the user’s data, cryptocurrency funds, and wallets are highly secured. In addition, it also supports two-factor authentication to safeguard the user’s account. Also, it is effortless to trade cryptocurrencies on this platform. This exchange is not accessible to any unauthorized entries.
Bitbns Customer Support
According to several Bitbns reviews, this crypto exchange offers excellent customer service to its clients. The customer support offered by this exchange is very easy and quick. Traders get an instant reply if they have any queries. Also, they can send an email, or they can tweet on the company’s Twitter platform if they have any queries, where they will receive a prompt response.
Bitbns Review: Wrap Up
As per our Bitbns review, we can conclude that Bitbns is one of the most popular cryptocurrency exchanges, which offers the fastest way to exchange cryptocurrencies in India. Besides, it provides tabs like margin trading, markets, trading tools, etc. The trader must complete the KYC process if they want to withdraw from this crypto exchange. One of the major problems of this exchange is it does not offer margin leverage.
However, this trading exchange offers an extensive list of cryptocurrencies and tokens with low trading transfer fees. New users will find this exchange very easy to use as it provides several educational materials about cryptocurrencies, blockchain, crypto trading, etc., which help them understand the platform.
Is Bitbns a Good Crypto Exchange?
According to Trustpilot reviews, Bitbns has received good user reviews, and traders appreciate the excellent customer support and user-friendly applications.
Is Bitbns Wallet Safe?
Bitbns offers an elegant and sleek hardware wallet in which the users can store their cryptocurrencies. It is safe asthey are not accessible to unauthorized entities.
How Do I Trade on Bitbns?
To start trading, the trader should click on the sign-up button given on the website. Next, they should fill up the basic details required by the exchange; upon filling in the details, they will receive an OTP on their mobile number. After entering the OTP, they will be taken to the platform’s dashboard, and they can start trading.
How to Withdraw Money From Bitbns?
The traders of this exchange can use p2p processes to withdraw money in INR to their bank accounts. Also, they can use bank transfers to withdraw their funds.
Is Bitbns Safe and Legit?
As per our Bitbns review, Bitbns is considered one of the safest exchanges that provide two-factor authentication and safelists their user’s IP address for safer transactions. It has several beneficial factors like low trading fees, margin trading, excellent customer service, etc.