de | cn | ru

Bitbns Review - is it scam or safe?

Bitbns Review - is bitbns.com scam or good cryptocurrency exchange?

RATING: 2 / 2 REVIEWS ForexBrokerz Bitbns

RECOMMENDED BITCOIN BROKERS


Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1

0.25%

 

 

Bitbns is a new Indian cryptocurrency exchange that offers trading in Bitcoin, Ether, Neo, Ripple, Stellar, Tron, Litecoin, Monero, Dash, Bitcoin Cash and several other cryptocurrencies for INR.

 

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.

 

- Mobile app. Bitbns may be a new exchange, but already has a mobile application for Android devices. Users can sign up, verify themselves, make deposits and withdrawals, trade, use the e-wallet and view their account balance.

 

- 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.

 

 >> See our list of regulated bitcoin forex brokers <<

 

- No Credit cards accepted. Bitbns does not accept deposits with credit cards, which is fairly common among the Indian cryptocurrency exchanges.

 

>> See crypto exchanges accepting credit cards <<

 

Conclusion

 

It appears that Bitbns has gone far in the few months since its launch in the end of 2017 and has managed to expand its cryptocurrency portfolio, provide a dedicated support team and launch a mobile trading app, however only for Android devices.

 

What we like the most are the plenty of cryptocurrencies available for trading and really low fees, when compared to other Indian exchanges. We also appreciate the “limit trading” option and the mobile trading app, which seems to be regularly updated.

 

 

 

Latest news about Bitbns
No news about Bitbns. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for Bitbns

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Donot trade on this site

such a fuddu site.To withdraw money why i will give the tip to other person.

Daddy 08/14/2019

Bad

Chor hai yeh.They operate in groups. They are fraud. They have manipulated the whole system. Big fraud. Beware

Gas 06/26/2019

Scammers!

Bitbns has worst technical support, they have a lot of technical problems while doing transactions, and they take a lot of time to resolve the issues. I have been using it but it's pain in the ass to deal with these guys. It's some kind of scam they do sitting in some place, and they don't even show their company management information. They scammed 40000 from me,

Please don't misguide people for god sake!! AND you know it very well.

Kiran 03/16/2019

Scammer exchange

This is big big fraud exchange even i have filed FIR against them...they stole huge coins from my wallet ...customer service is replied thru telegram app ...in bitbns community on telegram most of admin who are there for help are big scammers itself...

Pradeep Dahiya 11/08/2018

A big scam

Bitbns is a big scammer. Every details they provided are fake

Sivarama Prasad 10/29/2018

Totally irresponsible and no value to costumers

I have 7 to 8 time to costumers support site a mail or on app but there is all people are handling site are totally irresponsible. They dont value costumers.

Bit bns say in 24 hour our issue will solve but it solve never as i felt.

I recommend dont through your money in this type disrespectfull company.

Pankaj Pathak 09/16/2018

Its a scam, customer service is worst.

I tried purchasing btc through this site however the crypto balance got doubled
and my withdrawals including fiat were stopped. I tried contacting their team through mail but no help, my tickets were close as solved.
His admin on telegram asked for crypto deposit to solve the problem(1 ether).
Finally I contacted their founder through Linkedin and he offered to help,he gave me the solution but I was in loss and the reason he mentioned for the same is "software bug". When asked for refund for difference amount (INR 5000) he denied, when asked for bug bounty he denied stating that I tried to withdraw the excess amount.
The whole experience was frustrating and I lost my money. No phone number is provided on their site(point to be noted).
Please stay away they are scammers.

Omni 07/03/2018

Deposited inr not reflecting in Wallet

Very bad service no customer support to connect for issue

Naveen Amin 06/19/2018

Deposited amount to the HDFC bank account instead of Syndicate bank

Team,

I have transferred 10,000from my bank account to old bitbns hdfc account. I added the reference number also. Still that amount was not credited to my bitbns account.

Kindly check and do needful.


Regards,
Praveen,
+91 9066776610

Praveen Chitikela 05/24/2018

Plz revert money to. My account number

Hi Team,

I have transferred 35k from my bank account to old bitbns hdfc account. I added the reference number also. Still that amount was not credited to my bitbns account.

Kindly check and do needful.

Thanks & Regards
Sravan

Sravan Kuma M 05/19/2018

BitBns is fraud

They are not trustworthy. Their customer service is pathetic. My deposit didn’t get added to wallet. There is no response to my emails since 9 days. When I raised the issue on telegram then the admin restricted me from sending messages.

Ansar 05/11/2018
de | cn | ru