BitBNS Review 2022 - How to get started with Bitbns

BitBNS Review 2022 - How to get started with Bitbns

Bitbns is the first of its kind, India’s own cryptocurrency exchange. Bitbns stands as a trusted Bitcoin and cryptocurrency trading platform, offering users the best way to buy and sell popular cryptocurrencies.

The main motive behind setting up Bitbns was to create a platform for digital assets and crypto finance. Since its inception, Bitbns has been attracting Indian investors due to various features, such as low fees, high liquidity, and high security. In addition to this, it also offers fast transactions in just a few clicks at any given time.

So if you are looking for an easy way to buy and sell cryptocurrencies such as Bitcoin or Ethereum in India, then here is a BitBNS review. In this review, we will cover everything you need to know about BitBNS, including its features, fees, security, and more.

Background - Bitbns review.

Bitbns is a cryptocurrency exchange based in India, providing users with a clean and easy-to-use interface. The platform has been operational since December 2017 and offers trading in various altcoins, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, and Dogecoin (DOGE).

Bitbns has gained a lot of momentum and popularity in the Indian crypto market since its inception. The platform has managed to become one of the most used cryptocurrency exchanges in India and has also received a lot of positive reviews from its users.

Bitbns emerged as a strong competitor to other exchanges in India. It was founded by Prashant Singh and Gaurav Dahake, and its headquarters are based in Bangalore, India. 

Bitbns review: Key Features.

  1. Bitbns is a well-known trading platform to exchange, buy, and sell cryptocurrencies. It offers several cryptocurrencies on its exchange.
  2. Bitbns has a simple user interface and is beginner-friendly.
  3. 150+ number of cryptocurrencies that one can trade on Bitbns exchange.
  4. Bitbns allows you to start trading with a low amount and make as many transactions as you want without any hindrances.
  5. The Bitbns exchange puts a lot of emphasis on its customer support and gives its customers the best services and features to enjoy their trading experience to the fullest.
  6. Multi UPI supporting apps make their features more charming.
  7. Easy and instant bank deposit and withdrawal.
  8. Earn AirDrop on some coins just for holding (without staking or locking).

Getting started with Bitbns.

How to register on Bitbns.

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. Users can directly be registered through an email account or by entering an email and password, but at one point, you have to enter your mobile number.

BitBNS Review 2022 - How to get started with Bitbns
Bitbns review - Sign up

KYC verification.

Yes, Bitbns to buy and sell any cryptocurrency without KYC verification. To complete KYC, users have to give an identity card (Adhar card/Voter ID/Driving license) and PAN card, including a full face photograph with the written current date. Bitbns also ask for video KYC, but currently, it's not mandatory.

Bitbns security.

Doesn't matter how much exchange is popular or has a low fee or has bold features without security, everything becomes useless, but Bitbns don't compromise with security and gives high-quality security.

Bitbns uses two-factor authentication for enhanced security of the user accounts. Further, it also uses an offline cold storage system to protect users' funds from hackers. 

How to deposit and withdraw.

Bitbns is not only recognized for the fact that it provides users with a great interface, but also because it offers them a wide variety of digital currencies to trade with. Moreover, this exchange facilitates easy to deposit and withdrawal systems, making it convenient for users to use their money for trading.
Without KYC users can only deposit and withdraw cryptocurrency, but after KYC users are free to deposit and withdraw INR via different methods.

Deposit.

Bank account - To do any INR transaction you have to add your bank account details on Bitbns and to verify the bank details you have to send at least ₹1 through a linked bank account to Bitbns bank account which can be found in the deposit section. Note - your first deposit must be done through a linked bank account.

UPI apps - After verifying bank accounts, users can use any UPI app to deposit their minimum ₹100 funds.

P2P - If you trust a third party, then you can use P2P to buy USDT.

Withdrawal.

You have already added a bank account and UPI ID. Now sell your crypto for INR after that choose a bank account or UPI to withdraw and enter the amount In INR and click ok in a few minutes fund will arrive at your chosen destination. Again, if you trust a third party, then you can use P2P to sell USDT for INR.

Fees & Commissions

Every cryptocurrency exchange charges some type of fee when users carry out trades on their platform. These fees are usually charged as commissions or trading fees that are deducted from the total amount being invested or withdrawn by the user. 

The commission rate varies according to the type of transaction being carried out and depends on whether it is a withdrawal fee or deposit fee.
Bitbns charges a 0.25% fee for takers and makers on trades. 

This is slightly higher than other exchanges but still makes it competitive. Maker fees are paid when you add liquidity to our order book by placing a limit order under the ticker price for buy and above the ticker price for sell. Taker fees are paid when you remove liquidity from our order book by placing any order that is executed against an order of the order book.

BitBNS Review 2022 - How to get started with Bitbns
Trading fees. (Click to zoom)


BitBNS Review 2022 - How to get started with Bitbns
Deposit and withdrawal fee.

Trading pairs and trade.

Not complicated like others just click on a coin and start trading like others is also using the TradingView chart. For trading, it has two pairs INR and USDT.

BitBNS Review 2022 - How to get started with Bitbns
Bitbns review - Trading chart.

Other Bitbns products/services.

Bitbns is the one-stop-shop platform for all crypto-related needs. They are a crypto exchange, offer coin wallets, and are constantly making more crypto products like Bitbns Mining Pool, launchpad.

  • Refer program. To give crypto trading more opportunities to earn extra returns, Bitbns offers a unique program known as the ‘Refer & Earn Program.’ Through this referral program, users can earn a commission of 50% on each trade completed through their referral link.
  • Bitbns mobile app. It offers noteworthy features, including the Bitbns app, that make it possible for users to trade cryptocurrencies on the go. This unique feature has made this exchange extremely popular among users in India.
  • Crypto wallet. Users can store their funds in online wallets or hardware wallets on the Bitbns system.
  • Fixed deposit. Bitbns investment portfolios include numerous programs, and it is updated every week/month.
  • Launchpad. A great platform for startups who want to raise funds as well as users who want to be early investors.
  • -Bitdroplet. Bitdroplet lets you start a SIP in Bitcoin. You can invest as little as ₹100 or $1 per day/week/month.
  • Bitbns Academy. To learn about cryptocurrency trading and investment in one place.
  • Prediction game. predict the BTC price and earn a huge price after every 24 hours.

Customer's reviews of Bitbns.

Customer reviews of Bitbns show that this exchange offers the best available trading experience to traders in India. It also provides several cryptocurrencies on its exchange and allows tokenized assets to be traded on this exchange.

Amazing graphics app! First of all, the reward of Bitbns is great. I love currency trading extensively. There are many executive portfolio games and lots of options and fun ways to play protective. I can continue this game with experience, but I think you get the point. It's pretty good as far. - Play store

 

Its almost 3 years am trading in bitbns and so far not even a single issue, and lots of initiative taken and executed at right time. - Trust Pilot

 

Bitbns will be comfortable even for beginners. When I came to this trading platform, I did not fumble in crypto trading at all. I was worried that the deposit was just salt and I would give up this venture. However, Bitbns took care of us newbies. First, there is a good training system here. I got a lot of useful information and traded more confidently. Second, Bitbns has recruited real professionals into its team who are ready to help and quickly resolve technical, organizational, or financial issues. - TradersUnion 


Another side of Bitbns.

Deposit and withdrawal of fiat and crypto are the major problems of Bitbns. Crypto is an emerging sector in India and none of the banks can handle huge transactions coming outside the bank and result users face transaction delays also Bitbns change their bank partner and bank account frequently, which causes confusion. The same thing happening with Bitbns, it goes into maintenance and results users can't deposit and withdraw their crypto and it happens frequently.

Closing word.

This is a great cryptocurrency trading platform for both advanced and newbie traders who are based in India. The user interface is easy to use, and the mobile apps offer a feature that gives access to trading data on the go. The transfers of money, transactions, etc., are all smooth on the Bitbns platform.

Many people anticipate things to be too good to be true, however, Bitbns exchange is not one of them. It requires a little trust, patience, understanding, and the use of your brain to assess their usefulness before you jump onto their bandwagon.

By the way, what are your Bitbns reviews? Are you planning to use it? Pleased to hear. And as always, this is not financial advice.

Go To Bitbns (Referral link)
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