Bitbns is a leading Indian crypto exchange with over 4 million active users, highlighting its impeccable reputation in the industry. The platform offers a wide variety of ways to trade and invest in the Crypto market by offering over 300 cryptocoins. Plus, user-friendly interface and 24/7 customer support, with lucrative bonuses and exciting referral programs!
But the real question here is whether Bitbns is legit or just a scam. So, to find it out, we conducted a detailed analysis and opened an account to deliver the best verdict on the platform. We believe this deeply analysed Bitbns Review will help you decide whether this crypto exchange is a good fit or not. So, let’s start with a brief overview of Bitbns exchange.
Bitbns Review: At A Glance
Bitbns is a popular crypto exchange offering exceptional trading services under the name of its parent company – Buyhatke Internet Private Limited. The platform offers various services to its users to trade and sell cryptocurrencies at affordable prices.
Bitbns was established in December 2017, and since then, it has gained a lot of traction among Indian crypto investors, which can be gauged from its current active client base (4 Million).
The young and enthusiastic team at Bitbns creates a smooth exchange platform for crypto traders to enter the world of digital currencies. Like WazirX and Localbitcoins, Bitbns uses the Peer-to-peer (P2P) trading model. Additionally, the platform claims to offer high-quality customer services and security at all times. Moving forward with this Bitbns review, you will get to know to what extent these claims are true.
|Founders||Gaurav Dahake (CEO), Prashant Singh (CTO) and Srikanth Sethumadhavan (UI and Front End)|
|Native Token||BNS Token|
|Supported FIAT Currencies||INR|
|Minimum Deposit Requirements||Rs. 100|
|Trading Fees||0.25% – 0.0300%|
Is Bitbns Scam Or Legit?
Bitbns is a legit crypto trading platform, operating legally for over 5 years now. However, there are many complaints on the internet related to Bitbns scams, so we decided to analyze the platform regarding safety and regulations. As crypto trading is not regulated in India, it is not worth searching for any regulatory watchdog behind the crypto exchange. So, let’s see other aspects:
The platform operates under Buyhatke Internet Pvt. Ltd., a reliable financial provider established in 2015. On the plus side, the platform has a majority of positive reviews from its current users, which further adds to its legitimacy. On Trustpilot, Bitbns has a rating of 3.9 stars, which is regarded as good for a crypto exchange.
Pros & Cons
In this section of Bitbns review, let’s explore all the advantages and drawbacks of trading with the platform:
|Bitbns is available on through web and the mobile app.||Limited to Indian Investors only|
|Supports several types of trading orders.||Only INR deposits are allowed|
|300+ Cryptocoins available for trading||Bitbns customer support needs improvements.|
|Supports API trading and arbitrage trading|
|No fees on deposits|
|Suitable for both Beginner & professional Crypto investors|
Bitbns Trading Fees
As a crypto trader, what I liked the most was the Bitbns fees model, which is based on the trade volume. The higher the trader volume, the lower the fees. On the contrary, traders with low trade volume pay a bit higher.
At the same time, they do not charge any deposit fees from the clients. Therefore, you can easily and quickly deposit funds to begin investments. While the deposits are free, the Bitbns withdrawal fee is 0.0005 BTC. It is applicable when traders want to withdraw Bitcoins.
Meanwhile, the exchange has a flat fee of 0.25% for traders not paying with BNS tokens. Other than this, for traders using margin trading, the Bitbns fee for the lender is 15% commission.
Here’s A Detailed Bitbns Fees Structure:
Is Bitbns Safe To Trade With?
As per the Bitbns review, it is the safest crypto trading platform, implementing advanced technology and an A-grade security structure. Here’s a list of security measures implemented by the platform:
- Two-factor authentication
- Ensures safety of data and funds
- Crypto wallet
- Not accessible to unauthorized authorities
An Overview Of Bitbns Services:
The platform offers a range of trading and earning opportunities for its active users. Here’s a list of Bitbns services:
Bitbns allow peer-to-peer (P2P) trading. Users can deposit and withdraw INR directly through bank transfer or P2P trading. All popular Crypto coins and Crypto trading pairs are available on the platform for P2P trading.
The best feature of Bitbns exchange is its Margin trading, in which the platform allows traders to open a leveraged position through a margin account.
Another offering from Bitbns is Bitdroplet, a platform developed by Bitbns, which permits investors to invest their funds and cryptocurrencies using a systematic purchase plan. Currently, this allows the users to invest only in Bitcoins.
Bitbns FIP (Fixed Income Plans)
Bitbns also offers an investment scheme known as FIP (Fixed Income Plans) that lets you earn up to 13 % quarterly, monthly, weekly, and yearly interest rates.
What Are The Deposit and Withdrawal Methods on Bitbns?
As far as we analysed the platform, Bitbns offers the best cryptocurrency trading experience. Clients can quickly deposit and withdraw their funds. They can even use the Bitbns wallet to keep their data and funds safe.
Users can add funds to their crypto wallets after verification & KYC. For withdrawal of funds, traders can use the wallet. Thus, it provides an easy deposit and withdrawal method.
The platform supports a range of payment methods, including
- Bank account
- Wire transfer
How Can You Deposit Money In Bitbns?
Bitbns currently supports only INR deposits. The fund deposition option works only after completing the verification and KYC process. Here’s a complete Bitbns deposit process:
- Click the “Wallet” icon, which will be redirected to the account page.
- Now, click on ‘Add Money to wallet’. Select your preferred payment method from the list – P2P or UPI/ NEFT/ IMPS/ RTGS.
- The deposits will be reflected in your account instantly. In some cases, it may take up to 3-5 days.
How Can You Withdraw Money From Bitbns?
Here’s a complete process for withdrawing money from Bitbns wallet:
- Click on the “Wallet” icon on the dashboard.
- Tap on the “withdrawal” button below “Add Money to Wallet”. Enter the preferred amount you want to withdraw.
- The money will be reflected in your bank account mentioned during registration.
Available Cryptocurrencies & Crypto Trading Pairs On Bitbns
Bitbns supports more than 100 cryptocoins. Here’s a list of some major cryptocurrencies available on the platform:
|Available Crypto Coins||Crypto Trading Pairs|
Types of Orders On Bitbns
The best part of trading with Bitbns is its conditional order execution. The limit order is placed automatically in the order book upon reaching the trigger price. Investors can exit or enter crypto markets if they know the price momentum.
Traders can use the trailing stop limit. This offers an interval of stop to protect the user. In addition, they can reduce their risk using the order of three brackets. The order types include:
- Exit Order
- Entry order
- Trailed stop-loss order
The order types help in the automated buying and selling of cryptocurrencies. The stop limit orders exit the trade when the price reaches a certain amount set by the trader. Also, the platform sells digital coins on behalf of the trader. Thus, traders can start trading quickly with Bitbns.
The stop-limit orders are also known as conditional orders. The orders execute when a specific condition is fulfilled. Traders have to analyse the limited price in the market to earn profits.
How Can You Open A Bitbns Account?
Anyone, irrespective of their past experience, can open an account on Bitbns and start trading cryptocurrencies. Here’s a step-by-step process for opening an account on the platform:
- Firstly, visit the official BitBNS website and tap on the signup icon. Now, provide a valid email ID and a secure password.
- You’ll soon receive a verification link through e-mail; click on the link to complete the verification process.
- Enter your Aadhar card and PAN card details as documentation for completing the KYC procedure.
- Once the KYC process completes, deposit funds into your BitBNS account to begin trading.
What’s About Bitbns Referral Program?
Bitbns offers users an affiliate program that offer commissions for referring friends or family members to the platform. Once the verification process has finished, a link will be generated.
All friends or relatives who follow the link and register on the platform are considered eligible referrals. In the case of unverified referrals, they will unlikely receive any payment. For every referral, you earn 50% of their trading fees right into your Bitbns wallet. On the other hand, your referred member will get Rs. 100 worth of BTC in their wallet after successful signup.
Bitbns uses the latest technology to support traders. Users can design and develop their projects interacting with Bitbns API. The official website has a Ticker API page. Traders can click on the page to open a new window.
The page provides information on the last trade cryptocurrencies’ price and volume.
The service of API makes the Bitbns exchange a top-notch crypto exchange. Moreover, the beneficial service makes the cryptocurrency trading experience smooth.
Bitbns Predict & Win Program
The platform has introduced a BNSD Prediction Game Utility. It gives a chance to users to predict the price of cryptocurrencies to win BNSD and BNS Tokens. It is the first DeFi On-Chain utility. The closer prediction to the actual price, the more tokens you win.
Bitbns Mobile App
Bitbns offers an advanced mobile app, available for Android and iOS users. The app makes trading effortless with quick trading. Traders can access the market from anywhere. All the significant features are available on the mobile app. Thus, making it a popular cryptocurrency exchange.
Also the app can work on desktops as well. It has a user-friendly interface that traders can use to navigate the functions easily. Also, it indicates order history and other details on the screen.
Bitbns academy offers a deeply analysed, complete repository of all important blockchain and Crypto concepts. The available modules on the platform include:
- Introduction to Crypto
- Risk Management
- Margin Trading
- Technical Analysis
- Fundamental Analysis
- Token Research Reports
This detailed Bitbns review gives exposure to the user about Bitbns exchange. The platform offers top cryptocurrencies like Bitcoin and Ethereum to trade in. The secure trading environment is another factor that adds to its authenticity in financial markets.
However, the unavailability of a demo trading account is something the exchange should consider incorporating. Practising or testifying trading strategies on a demo account before placing real trades is always a good idea and highly recommended advice. If you think your knowledge about cryptocurrency is not up to the mark, first practice and understand the real market conditions by opening a demo trading account with InvestBy today.
What Is Bitbns Exchange?
Bitbns is a popular crypto exchange offering exceptional trading services under the name of its parent company – Buyhatke Internet Private Limited. The platform offers various services to its users to trade and sell cryptocurrencies at affordable prices. Bitbns was established in December 2017, and since then, it has gained a lot of traction among Indian crypto investors, which can be gauged from its current active client base (4 Million).
Can Bitbns Be Trusted?
Yes, Bitbns can be trusted as it is one of India’s well-recognized crypto exchange platforms. Additionally, there is no complaint regarding any scam related to the Bitbns. Considering all the services and features, Bitbns can be termed as a trustworthy crypto exchange.
Which Is Better: Bitbns vs Binance?
Both Bitbns and Binance are great and leading crypto exchanges, offering customer-centric services. Let’s distinguish both platforms based on customer service. While Binance has a user rating of 2.9, Bitbns has a 2.8 user rating. Considering these ratings and trust score, you can easily determine who is the winner.
Is Bitbns A Good Exchange?
Yes, Bitbns is a good exchange as it is loaded with the latest technology architecture and grade-A security features, ensuring the complete safety of your cryptocurrencies, INR volumes, and wallets. The platform is not accessible to unauthorized entities.
Is Bitbns Registered In India?
The platform operates under Bitbns Internet Private Limited, a financial services company incorporated in Banglore, India, in 2020. The headquarters of Bitbns is currently in Bangalore.
How Does Bitbns Work?
Bitbns work to provide a simple platform to crypto traders for buying and selling cryptocurrencies. It offers nearly 400 trading assets, with all major crypto coins. The platform also supports margin trading, which allows users to lend or borrow available cryptocurrencies.
What Is Bitbns Token (BNS Token)?
BNS is a multi-protocol utility token from Bitbns exchange that intends to make it possible for the general public to utilize cryptocurrencies in everyday transactions, much like they use FIAT currency. The token was launched on July 8, 2022, and the current BNS Token price today is $0.000539 USD, with a 24-hour trading volume of $162,103 USD.
Is BNS Token A Good Investment?
BNS token poses as a great investment option if you have the patience to hold it for the long term. The BNS Token price predictions are expected to reach new heights in 2030, with experts believing it to trade at $0.080832 by the end of the decade.
How Do I Invest In Bitbns FD?
Go to the Bitbns website and log in. From the top navigation menu, choose “Fixed Deposits.” Look over the plans and choose the one that best matches your preferences.
Next, select “Invest Now.”
Enter the base currency required in the plan you want to invest.
How Do I Withdraw Money From Bitbns?
On Bitbns, the withdrawal process is quicker and simpler.
- Simply select “Wallet” from the dashboard’s menu.
- The “withdrawal” option is available below “Add Money to Wallet.”
- Enter the withdrawal amount. Your funds will be sent to the registered bank account.
How Do I Trade On Bitbns?
Here’s how you can start trading on Bitbns:
- The trader needs to click the sign-up button on the website.
- Complete the application form.
- After the account opening process completes, select your preferred crypto coin or trading pair.
- Set the stop-loss limit and place trade orders.
Is Bitbns A Good Crypto Exchange?
According to Trustpilot ratings, users have given Bitbns positive feedback, and traders laud the company’s top-notch customer service and user-friendly software. The platform has an overall rating of 3.9 stars on Trustpilot.
Is TP Global FX A Scam?
No, TP Global FX is not a scam as it is well regulated by top tier regulatory body – Vanuatu Financial Services Commission (VFSC). Additionally, the platform operates under TP Global Services Limited, a firm incorporated in St. Vincent and the Grenadines with Number 25274 BC 2019. Registered office: Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown Saint Vincent and the Grenadines.
Is Binomo India Scam?
No, Binomo is not a scam as it is regulated by the International Financial Commission (IFC). Additionally, the platform caters for the need of thousand of global traders across 133 different nations.
How Old Is Bitbns?
Bitbns was established in December 2017 but was launched in April 2018. So, Bitbns is currently 4 years old.
Who Is Owner Of Bitbns?
Bitbns is owned by Gaurav Dahake (CEO), Prashant Singh (CTO) and Srikanth Sethumadhavan (UI and Front End).
Which Country Is Bitbns from?
Bitbns is an India-based crypto exchange with headquarters in Bengaluru, Karnataka.
How Do I Get Bitbns For Free?
You can earn free money through the referral program in your Bitbns wallet. To be eligible for the free BTC in your wallet, enter the referral code & get a Rs. 100 bonus. Share your referral code with friends and get a Rs 100 bonus.
How Can I Delete My Bitbns Account?
Follow these steps below to delete your existing Bitbns account easily:
- Visit the Bitbns Support Page and click on the ‘Submit A Request’ icon.
- Select OTHER from the “Ticket Type/Category” drop-down menu.
- Enter the email address associated with the account and your Bits User ID.
- Type ‘REQUEST TO DELETE MY ACCOUNT’ in the Subject box.
- In the Description text section, write your reasonable reasoning for disabling your account.
- Scroll down and complete the reCAPTCHA and click the ‘Submit’ button. Your request will be processed in 3-5 days.
Who Is Bitbns Academy For?
Bitbns academy is best for crypto investors interested in learning about digital currencies and assets. Upon successfully completing the course, you will get a certificate from the academy, which will enhance your professional credibility. Read this Bitbns review to know more in detail.
Does Bitbns Have A Bot Address Or Rectification Process?
No, Bitbns doesn’t have any bot address, so it is highly recommended not to send money to anyone claiming to be a part of the platform or bit droplet. Additionally, there is no “bot address or rectification process.” Bitbns will never message you first.
What Is BNS In Crypto?
BNS Token is a multi-protocol utility token based on a multi-protocol approach over the blockchain. It is a native token of Bitbns exchange, through which users can spend their crypto funds for shopping, payments, and international remittances.