Bitbns Review 2024

Autor

Revisor

Last update: 9 months ago

Our veredict

Bitbns stands out as a notable option in the crowded space of cryptocurrency exchanges, particularly for users in India. Its strong points lie in its accessibility and a range of features that cater both to newcomers and seasoned traders. One of Bitbns’ key strengths is its user-friendly interface, which simplifies the trading process, making it an appealing choice for those new to the cryptocurrency world.

However, the platform also carries some drawbacks. The trading fees, while competitive, can be considered relatively high compared to some international platforms. Also, the focus on the Indian market means its offerings in terms of fiat currencies are limited to the Indian rupee, which might not appeal to international traders. While these factors may deter a segment of potential users, Bitbns’ commitment to security and its robust customer support system are significant advantages that enhance its reliability and trustworthiness.

Pros

Cons

Investing risks losing your money

3,4

Threenvest Score

Fees

0.25%

U.S Legal

With the confidence of Threenvest

Security Methods: Bitbns places a strong emphasis on security, implementing multiple layers of protection including 2-factor authentication, cold storage of digital assets, and encrypted user data. These practices help in safeguarding users’ funds and personal information against unauthorized access and potential security threats.

Transparency: Bitbns is known for its transparent operational practices, including clear communication regarding its fee structure, trading processes, and the storage of users’ funds. This transparency helps build trust by ensuring that users have a clear understanding of how their investments are managed.

Customer Service: The exchange boasts a responsive and knowledgeable customer service team that is accessible through multiple channels. This responsiveness ensures that users’ queries and concerns are addressed promptly, enhancing user satisfaction and trust in the platform.

Reputation and Reviews: Since its inception in 2017, Bitbns has built a strong reputation within the Indian cryptocurrency market. Positive reviews from users and industry experts highlight the platform’s reliability, ease of use, and excellent service, contributing to its credibility

Number of Users: Bitbns supports a large and growing community of users, indicating a broad acceptance and trust in the platform. A large user base not only reflects the platform’s capability to meet trader needs but also enhances liquidity, which is crucial for the efficient execution of trades.

Best Crypto Exchanges

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About Bitbns

Introduction:

Bitbns, established in 2017, quickly emerged as a prominent cryptocurrency exchange in India, making a significant impact with its user-friendly interface and diverse trading options. Located in Bangalore, Karnataka, it caters predominantly to Indian users but maintains a presence that attracts a global audience.

What is Bitbns?

Bitbns, which stands for Bitcoin buy ‘n‘ sell, is an Indian cryptocurrency exchange known for supporting a wide array of cryptocurrencies. It provides trading opportunities not just in popular cryptocurrencies but also offers unique investment options and educational resources for new traders.

Background and History:

Founded by Prashant Singh and his team, Bitbns has navigated through the volatile crypto market by focusing on ease of use and expanding its services beyond simple trading. It incorporates features like systematic investment plans in cryptocurrencies, reflecting its innovative approach to crypto trading.

Founders:

Prashant Singh, the founder, envisioned a platform that simplifies buying and selling digital assets. Under his leadership, Bitbns has expanded to include features that accommodate both seasoned traders and newcomers, emphasizing user education and security.

Interesting Facts:

Bitbns supports trading in over 162 cryptocurrencies.
It was one of the first in the region to offer systematic purchase plans for Bitcoin, similar to traditional systematic investment plans.
The exchange includes a no-minimum deposit feature, making it accessible to a wide range of investors.

Headlines:

“Bitbns Revolutionizes Crypto Trading in India with User-Friendly Features”
“Bitbns Expands Cryptocurrency Portfolio, Supporting Over 160 Digital Assets”
“Bitbns Introduces Systematic Investment Plans for Bitcoin”

Why Choose Bitbns?

Bitbns is an excellent choice for cryptocurrency enthusiasts for several compelling reasons. First and foremost, the platform’s user-friendly interface makes it accessible to beginners, simplifying the often complex world of cryptocurrency trading. This focus on usability is a significant advantage for those new to trading or those who prefer an intuitive and straightforward trading experience.

Moreover, Bitbns supports a wide range of cryptocurrencies, offering traders the flexibility to engage with both popular and less common digital assets. This variety not only caters to diverse investment preferences but also provides ample opportunities for traders to diversify their portfolios, which is crucial in managing investment risks.

Another standout feature of Bitbns is its integration of spot and margin trading within the same platform. This allows users to amplify their trading strategies by employing leverage, thereby potentially increasing their returns on investment. The platform also supports the Indian Rupee, making it particularly attractive to Indian users by facilitating easy fiat transactions.

Where it falls short

Mobile Trading Availability: One of the notable drawbacks of Bitbns is the lack of a mobile trading app. In today’s fast-paced world, the ability to trade and manage investments on the go is crucial. Introducing a mobile app would not only improve accessibility but also enhance the trading experience by allowing users to make timely decisions and manage their portfolios from anywhere. Improvement: Bitbns could develop a comprehensive mobile trading app that includes all the functionalities of the web platform, ensuring users have full access to trade and manage their accounts without needing to access a desktop computer. This app should focus on maintaining the user-friendly interface Bitbns is known for, while integrating advanced security measures to protect user assets.

Customer Support Response Time: Another critical area for improvement is the response time of customer support. Current users have reported delays in receiving support, which can be frustrating and potentially costly in the world of cryptocurrency trading. Improvement: To address this, Bitbns could expand its customer service team and introduce more efficient response systems such as live chat support and a callback service. Implementing these changes would not only improve response times but also enhance overall customer satisfaction by providing timely assistance when needed.

Features	Explanation
Minimum Trade	Bitbns allows users to start trading with a low minimum trade amount, making it accessible for small investors.
Trading and Transaction Fees	Fees are competitive within the Indian market, but can be considered high internationally.
Number of Cryptocurrencies	Supports a diverse range of over 100 cryptocurrencies, catering to varied investor interests.
Crypto-to-Crypto Trading Pairs	Offers a solid selection of crypto-to-crypto trading pairs, enabling versatile trading strategies.
Website Transparency	The website provides clear information on fees, trading processes, and security measures.
Credit/Debit Card	Bitbns lacks an exchange card feature, which could enhance user convenience and offer additional benefits for in-store purchases.
Storage Offering	Provides secure cold storage options, enhancing the safety of digital assets.
Staking and Rewards	Offers competitive staking options and rewards, encouraging user participation and investment.
Mobile App and Desktop	Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Customer Service	Excellent customer service with multiple channels for support and quick response times.
Deposit and Withdraw	Efficient deposit and withdrawal processes, though options may be limited compared to international standards.

Investing risks losing your money

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our website, I recommend Bitbns for traders in India seeking a user-friendly and secure platform to dive into cryptocurrency trading. The exchange excels in transparency, customer service, and a robust mobile experience, making it highly suitable for both beginners and seasoned traders. However, potential users should consider the higher trading fees and limited international accessibility when deciding if Bitbns meets their trading needs.

Fees

Bitbns employs a straightforward fee structure that aligns well with industry standards, charging both takers and makers a uniform fee of 0.25%. This flat rate is fairly competitive when compared to global averages, ensuring that traders can engage in transactions without the worry of fluctuating fees based on their trading volume. This consistency in trading fees helps in maintaining transparency and allows traders to plan their trading activities without unexpected costs.

Pros

Uniform Fee Structure: Both takers and makers are charged a flat rate of 0.25%, which simplifies the trading process and makes costs predictable for all users.
No Hidden Fees: Bitbns is transparent about its fees, ensuring traders aren't caught off guard by unexpected charges.
Fee Reduction for High-Volume Traders: While the standard fee is 0.25%, traders can reduce this fee significantly by increasing their trading volume and holding BNS tokens, providing an incentive for loyalty and high-volume trading.

Cons

Higher Than Some Competitors: Although competitive, the starting fee of 0.25% can be higher compared to some other platforms that offer lower baseline rates or more aggressive discounts for volume trading.
Dependence on BNS for Lower Fees: To achieve lower fees, traders are required to hold BNS tokens and ensure high trading volumes, which might not be ideal for all, especially those looking to trade sporadically or those who prefer not to invest in the platform's native token.

Product selection

Bitbns offers a comprehensive range of services and products designed to meet the diverse needs of cryptocurrency traders and investors. The platform supports over 90 different cryptocurrencies, providing ample options for users to trade popular digital assets like Bitcoin, Ethereum, Ripple, and many others. Bitbns also offers spot trading and margin trading, allowing users to leverage their positions and potentially increase their returns. The platform’s user-friendly interface is equipped with advanced charting tools and various order types, making it easier for traders to analyze the market and execute trades efficiently.

In addition to trading, Bitbns provides several investment products aimed at helping users grow their crypto holdings. The Systematic Investment Plan (SIP) in cryptocurrencies allows users to invest a fixed amount at regular intervals, similar to traditional SIPs in the stock market. This feature is particularly beneficial for those looking to invest systematically over time. Furthermore, Bitbns offers Fixed Income Plans (FIP) that guarantee a fixed return on crypto investments over a specified period, providing a reliable income stream. With these diverse offerings, Bitbns caters to both novice and experienced traders, making it a versatile platform for all types of cryptocurrency enthusiasts.

Pros

Diverse Cryptocurrency Options: Bitbns supports trading in over 90 cryptocurrencies, providing users with a wide range of options for investment and trading, which is ideal for portfolio diversification.
Fixed Income Plans (FIP): These plans provide a fixed return on crypto investments, offering a predictable income stream and appealing to investors looking for stability in the highly volatile crypto market.
Systematic Investment Plans (SIP): The platform offers a unique feature in the crypto space, allowing users to invest systematically in cryptocurrencies, similar to SIPs in traditional stock markets. This reduces the risk associated with timing the market and makes it easier for beginners to start investing.

Cons

Limited Advanced Trading Features: While Bitbns provides basic trading options and some innovative investment products, it may lack advanced trading features and tools that more experienced traders look for, such as detailed analytical tools or a wider range of derivatives products.
Geographical Focus: Primarily catering to the Indian market, Bitbns might not offer certain features or support currencies that are specific to other regions, potentially limiting its appeal to international traders who require broader global services.

Read more about product selection in Bitbns

Bitbns offers an extensive array of services and products that cater to various aspects of cryptocurrency trading and investment. This makes it an inclusive platform suitable for both novice and experienced traders. Here’s a detailed look at the services and products available on Bitbns:

Cryptocurrency Trading: Bitbns allows trading in more than 90 cryptocurrencies, offering a wide variety of choices for traders to diversify their portfolio.
Margin Trading: This feature enables users to leverage their trades by borrowing funds, increasing potential profits (or losses), and is available for several digital assets.
Systematic Investment Plan (SIP): Bitbns offers a SIP for cryptocurrencies, allowing users to invest a fixed amount periodically in Bitcoin and other cryptocurrencies, similar to traditional stock SIPs. This is an excellent tool for average-risk investing over time.
Fixed Income Plans (FIP): Bitbns provides FIPs that guarantee a fixed return on investments over a specified period, offering a reliable income stream from crypto assets.
Bitdroplet: An innovative tool on Bitbns that allows systematic purchasing of Bitcoin, facilitating investments at regular intervals, regardless of the price volatility.
Staking: Users can stake their cryptocurrencies directly on the platform to earn staking rewards, enhancing their investment yield.
Crypto Loans: Bitbns extends loans against crypto holdings, allowing users to liquidate a portion of their assets without selling them.
Arbitrage Tool: The platform offers an arbitrage tool that helps users exploit price differences across various exchanges, maximizing their potential returns.
Mobile App: Bitbns has developed mobile applications for both Android and iOS, ensuring traders can manage their portfolios and trade on the go.
Referral Program: A referral system is in place that rewards users for bringing new traders to the platform, incentivizing the growth of the Bitbns user base.
Educational Resources: Bitbns provides educational materials and resources to help new traders understand the market and develop effective trading strategies.
Wallet Services: The exchange offers a secure wallet service for storing, sending, and receiving various cryptocurrencies.
API Access: For advanced users and developers, Bitbns offers API access for integrating trading features into third-party applications or for automated trading solutions.

By offering a broad spectrum of trading and investment services, Bitbns not only caters to the needs of individual traders but also establishes itself as a versatile platform capable of supporting various trading strategies and investment preferences. This extensive offering is aimed at enhancing user engagement and satisfaction, making Bitbns a comprehensive choice for anyone interested in the crypto space.

Account opening

Opening an account on Bitbns is a straightforward process designed to cater to both novice and experienced traders. To get started, users need to visit the Bitbns website and sign up by providing basic personal information such as their email address and phone number. After creating an account, users must complete the Know Your Customer (KYC) verification process, which involves submitting government-issued identification documents like a passport or Aadhaar card for Indian users. This step is crucial for complying with regulatory standards and ensuring the security of the platform. Once the KYC verification is completed, users can deposit funds into their account using methods like bank transfers or UPI.

The entire account opening process is user-friendly, with clear instructions provided at each step to guide users. The verification process is generally quick, allowing traders to start buying and selling cryptocurrencies without significant delays. Bitbns also supports various deposit methods, including popular Indian options, which makes it convenient for users to fund their accounts. Overall, Bitbns has streamlined the account opening process to ensure that users can get started with minimal hassle, making it an attractive choice for those looking to enter the cryptocurrency market.

Pros

Simplicity and Speed: The process to open an account on Bitbns is straightforward and quick. Users can easily sign up, verify their accounts, and begin trading in a short amount of time, making it user-friendly for new traders.
Multiple Deposit Methods: Bitbns supports a variety of deposit methods, including bank transfers and UPI, providing flexibility and convenience for users in India to fund their accounts easily.
No Minimum Deposit Requirement: Bitbns does not require a minimum deposit to start trading, which is beneficial for new users or those who wish to start with a small amount of capital.

Cons

Geographic Limitation: While Bitbns offers several convenient deposit methods, they are primarily tailored to the Indian market. International users might find fewer options suitable for their specific geographic location.
KYC Requirements: The KYC process, although necessary for security and regulatory compliance, can be a barrier for users who seek anonymity or want to trade immediately. This process can also be a hindrance if the verification takes longer than expected, delaying access to trading.

Read more about account opening in Bitbns

When it comes to setting up an account and starting trading on Bitbns, the process is designed to be user-friendly and straightforward, catering especially to newcomers in the cryptocurrency world. Here’s a detailed breakdown of how to get started on Bitbns:

How to Sign Up on Bitbns

Step-by-Step Guide:

Visit the Website: Navigate to the Bitbns platform and click on the ‘Sign Up’ button.
Enter Details: Provide your email address and set a strong password. Additional details like your phone number and name will be required to enhance account security.
Email Verification: A verification link will be sent to your email. Clicking this link will confirm your email address and activate your account.

Opening an Account

KYC Verification: For trading, Bitbns requires you to complete a Know Your Customer (KYC) process. This includes submitting identification documents such as Aadhaar and PAN cards for Indian users. This step is crucial for complying with financial regulations and ensuring the security of the platform.
Account Verification: Once your documents are submitted, Bitbns will review them for authenticity. The verification process ensures that the platform is safe from fraudulent activities.

How to Buy Your First Cryptocurrency

Depositing Funds: Once verified, you can deposit funds into your account using preferred methods like bank transfer or UPI. Bitbns supports transactions in INR, making it particularly accessible for Indian users.
Purchasing Cryptocurrency: With funds in your account, navigate to the trading interface, select the cryptocurrency you wish to purchase, and execute your transaction. Bitbns provides a straightforward trading interface that simplifies buying and selling cryptocurrencies.

Account Types and Features

Standard Trading Account: Allows trading in a wide range of cryptocurrencies with features like spot trading and margin trading.
Margin Account: Offers the option to leverage your trades for higher potential returns.

How to Use Bitbns?

Bitbns offers an intuitive trading platform that is easy to navigate even for beginners. The platform includes all necessary tools and features to analyze the market, execute trades, and manage your portfolio efficiently.

Registration and KYC

Easy Registration Process: Simple sign-up form on the website.
KYC Process: Upload necessary documents through the platform’s secure system.

By following these detailed steps, users can seamlessly start their journey into cryptocurrency trading with Bitbns, benefiting from its user-friendly interface and comprehensive support system designed to cater to both novice and experienced traders alike.

Security

Bitbns offers a robust security framework designed to protect users’ funds and personal information. The platform employs multiple security measures, including the use of cold storage for the majority of its assets, which significantly reduces the risk of hacking by keeping funds offline. Two-factor authentication (2FA) is mandatory for all users, adding an extra layer of security by requiring a second form of verification in addition to the password. Furthermore, Bitbns uses SSL encryption to secure data transmission between users and the platform, ensuring that sensitive information is protected from interception.

Despite its strong security measures, Bitbns could benefit from implementing more advanced security features, such as biometric logins or multi-signature wallets, which are becoming standard among leading cryptocurrency exchanges. Additionally, while the platform adheres to local regulatory compliance and has not experienced significant security breaches, greater transparency about its security protocols and regular security audits could further enhance user trust. Overall, Bitbns provides a secure trading environment but must continue evolving its security practices to stay ahead of potential threats and maintain user confidence.

Pros

Robust Cold Storage Measures: Bitbns ensures the security of user funds by storing a significant portion of assets in cold storage. This offline storage method minimizes the risk of hacking and unauthorized access, providing a high level of security for users' investments.
SSL Encryption: The use of SSL encryption for all data transmissions between users and the platform secures personal and transaction data, protecting it from interception by third parties. This is crucial for maintaining user privacy and security in all communications and transactions on the platform.
Mandatory Two-Factor Authentication (2FA): Bitbns enhances account security by requiring two-factor authentication for all users. This additional layer of security helps protect against unauthorized access, significantly reducing the risk of account breaches.

Cons

Lack of Advanced Security Features: While Bitbns implements basic security measures like 2FA and SSL encryption, it may lack more advanced security features that are becoming standard among leading cryptocurrency exchanges, such as biometric logins or multi-signature wallets.
Limited Transparency on Security Protocols: Bitbns could improve by providing more detailed information about its security measures and protocols. Greater transparency in how security is managed could increase user trust and satisfaction, especially among those who prioritize security in their choice of exchange.

Is Bitbns Legit?

Bitbns is a legitimate cryptocurrency exchange founded in India in 2017. It has built a reputable standing within the Indian crypto market, known for its user-friendly platform and a range of crypto trading options. Bitbns complies with local regulations, enhancing its legitimacy as a trusted trading platform.

Regulation and Licensing

Local Compliance: Bitbns adheres to the regulations set by Indian financial authorities, ensuring its operations align with national financial laws and guidelines.
KYC and AML Policies: As part of its compliance, Bitbns enforces strict Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. This is to verify the identity of its users and prevent illegal activities such as money laundering and terrorist financing.

Is Bitbns Safe?

Security Measures: Bitbns employs several security measures to protect user data and funds:
- Cold Storage: The majority of user funds are stored in cold wallets, which are offline and thus more secure against hacking and online threats.
- Two-Factor Authentication (2FA): Mandatory for all users, 2FA adds an extra layer of security at login and withdrawal, making it more difficult for unauthorized users to gain access.
- SSL Encryption: All data transmitted on Bitbns is encrypted using SSL technology, safeguarding personal and transaction data from potential interception.

Security Enhancements

Regular Security Audits: To maintain high security standards, Bitbns regularly undergoes security audits conducted by external security firms. These audits help identify and rectify vulnerabilities.
User Security Education: Bitbns provides resources to educate its users about security best practices and how to secure their accounts and personal information.

Conclusion on Security

Bitbns has established a solid security framework that aligns with industry best practices. However, the ever-evolving nature of cyber threats requires continuous enhancement of these measures. Regular updates to security protocols and systems, along with ongoing user education, are essential for maintaining a secure trading environment. Although Bitbns has not experienced significant security breaches, it remains vital for the platform to stay vigilant and proactive in its security efforts to safeguard user assets and data effectively.

Customer service

Bitbns provides a comprehensive customer service system designed to support its users effectively through various channels. The platform offers multiple methods for users to seek assistance, including live chat for real-time help, email support for detailed inquiries, and active social media engagement on platforms like Twitter and Facebook. Additionally, Bitbns hosts a Help Center filled with articles and FAQs that address common issues, offering users the resources to find answers independently. However, while the range of support options is impressive, response times can vary, with live chat being the quickest and email responses sometimes taking longer, especially during peak periods or for more complex issues.

The reputation of Bitbns’s customer service is mixed based on user feedback. Many users appreciate the availability of diverse support channels and the helpfulness of the live chat feature. However, some have reported delays in getting responses and issues with the thoroughness of support via email. Another limitation is the primary focus on English and Hindi, which might be a barrier for international users seeking support in other languages. Overall, Bitbns aims to provide a supportive and responsive customer service environment, but there is room for improvement in consistency and expanding language support to enhance the user experience further.

Pros

Multiple Channels of Support: Bitbns offers a variety of support channels, including live chat, email support, and social media interactions. This diversity ensures that users can choose the most convenient way to get help, whether they need immediate assistance or more detailed support.
Comprehensive Help Center: The platform features a well-organized Help Center filled with articles and FAQs that cover a wide range of topics. This resource is invaluable for users who prefer to find solutions independently, reducing the need for direct contact with customer service.
Active Community Engagement: Bitbns maintains a strong presence on social media platforms and through its community forums. This engagement not only helps in addressing user concerns quickly but also fosters a sense of community among users, which can be particularly beneficial for new traders.

Cons

Inconsistent Response Times: While Bitbns offers multiple avenues for support, users sometimes experience inconsistent response times, especially during peak trading times or for complex issues. This variability can be frustrating for users needing timely solutions.
Limited Language Options: Given that Bitbns is primarily an Indian platform, the primary languages for customer support are English and Hindi. This limitation can pose challenges for international users who might prefer support in other languages, potentially affecting the platform’s accessibility and user satisfaction.

Read more about customer service in Bitbns

The customer service at Bitbns is designed to address a wide range of user needs efficiently, ensuring a supportive trading environment. Below is a detailed analysis of the customer support system, user feedback, available contact methods, response times, and other relevant aspects that may interest potential users.

Customer Support Overview

Bitbns offers a structured customer support system that aims to address queries and issues swiftly and effectively. The platform’s support team is equipped to handle a variety of concerns, ranging from account management and transaction inquiries to technical support and security issues.

Reputation and Customer Feedback

What Users Say:

Positive Feedback: Many users appreciate the responsiveness of the live chat support and the comprehensive resources available in the Help Center. The user-friendly interface of the platform often receives high marks.
Negative Feedback: Some users report delays in response times during peak hours or for complex issues. There have also been mentions of difficulties with account verification processes or transaction delays.

Methods of Contact

Live Chat: Available directly on the platform, offering real-time assistance. This is often the quickest way to get a response.
Email Support: Users can send detailed queries and concerns to the support team via email. This method is suitable for complex issues that may require thorough investigation.
Social Media: Bitbns is active on several social media platforms, including Twitter and Facebook, where users can send messages or post queries.
Help Center: The Help Center on the website contains a wealth of articles and FAQs that address common issues and provide detailed guides.

Response Times

Live Chat: Typically, responses are quick, often within a few minutes, making it the fastest way to get help.
Email: Responses via email can vary but generally take anywhere from a few hours to a couple of days, depending on the complexity of the issue and the volume of inquiries.
Social Media: Response times can vary significantly; however, users can expect to receive a reply within a day.

Additional Considerations for Readers

24/7 Support: It’s important to know whether support services are available round the clock, especially for a trading platform that operates 24/7.
Multilingual Support: While primarily offering support in English and Hindi, international users might need to consider any language barriers.
Escalation Process: Understanding how to escalate a concern if initial responses are not satisfactory can be crucial for resolving complex issues.
User Onboarding Assistance: New users might specifically look for information on how easily they can get help during the onboarding process, particularly with KYC and setting up trading functions.

Conclusion

Bitbns strives to offer robust customer support that aligns with its users’ needs. While there are areas for improvement, particularly in managing response times during high demand and expanding language options, the platform’s dedication to providing a comprehensive support system is evident. Users considering Bitbns should evaluate how these aspects align with their needs, especially in terms of availability and support efficiency.

Is Bitbns Right for You?

Location and Currency Preferences: Bitbns is primarily targeted towards the Indian market, supporting transactions in Indian Rupees (INR). This focus makes it especially convenient for users based in India or those who frequently transact in INR. If you are looking for an exchange that offers local currency support, easy fiat-to-crypto transactions, and understands the local regulatory landscape, Bitbns could be an excellent choice.
Ease of Use and Support for Beginners: Bitbns boasts a user-friendly interface that is ideal for beginners in the cryptocurrency space. The platform provides a straightforward onboarding process, detailed educational resources, and a responsive customer support system. If you are new to crypto trading and value an exchange that facilitates an easy start and ongoing support, Bitbns is well-suited to meet these needs.
Trading Needs and Features: Bitbns offers a variety of trading options including spot trading and margin trading but does not currently support more advanced trading derivatives like futures and options. It also lacks a mobile trading app, which might be a drawback for users who prefer trading on-the-go. If your trading strategy requires advanced derivatives or mobile trading, you might find Bitbns limiting. However, for straightforward spot and margin trading with leverage, Bitbns provides robust solutions.

By considering these points in the context of your specific trading style, location, and experience level, you can make a more informed decision about whether Bitbns aligns with your cryptocurrency trading and investment goals.

Bitbns compared to other crypto exchanges

Threenvest score

3,4

Fees

US Legal

Security

High 4/5

Investing risks losing your money

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

Coinbase

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

Available cryptocurrencies and countries available

Bitbns supports a wide array of cryptocurrencies, offering over 90 different options for trading. This extensive selection caters to both mainstream and niche market participants, ensuring that traders have access to a diverse range of digital assets. Key cryptocurrencies available include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC), among others. However, it’s worth noting that some prominent cryptocurrencies, such as Cardano (ADA) and Polkadot (DOT), may not be available on the platform.
In terms of geographic availability, Bitbns primarily serves users in India and is tailored to meet the needs of the Indian market, supporting transactions directly in Indian Rupees (INR). While the platform is accessible to users in many countries around the world, there are significant restrictions for users from certain jurisdictions due to regulatory and compliance reasons. For instance, residents of the United States and some European countries may find they are unable to open accounts with Bitbns due to local financial regulations and the platform’s focus on Indian compliance standards. This geographical focus is an essential consideration for international users who need to ensure that their country of residence is supported before attempting to register and trade on Bitbns.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Litecoin (LTC)
Tether (USDT)
Bitcoin Cash (BCH)
EOS (EOS)
Stellar (XLM)
Tron (TRX)
Cardano (ADA)
NEO (NEO)
Monero (XMR)
Dash (DASH)
NEM (XEM)
Zcash (ZEC)
Dogecoin (DOGE)
VeChain (VET)
Tezos (XTZ)
Binance Coin (BNB)
Chainlink (LINK)

Main countries where you can open an account

India
Canada
United Kingdom
Australia
United Arab Emirates
Singapore
South Africa
Japan
New Zealand
Brazil

FAQs

What cryptocurrencies can I trade on Bitbns?

You can trade over 90 different cryptocurrencies on Bitbns, including popular ones like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC).

How do I start trading on Bitbns?

To start trading, you need to create an account, complete the KYC process for identity verification, and then deposit funds using one of the available methods like bank transfer or UPI. Once funded, you can begin buying, selling, and trading cryptocurrencies.

Is my money safe on Bitbns?

Yes, security is a top priority for Bitbns. The exchange uses robust measures like cold storage for the majority of funds, SSL encryption, and mandatory two-factor authentication (2FA) to secure user assets and data.

Can I trade on Bitbns from outside India?

Yes, Bitbns serves a global audience, although its primary focus is on the Indian market. Users from various countries can open accounts, subject to local regulations and compliance requirements.

What are the trading fees on Bitbns?

Bitbns charges a flat fee of 0.25% for both makers and takers. Discounts on trading fees are available for high-volume traders and those holding BNS tokens.

How can I withdraw my funds from Bitbns?

To withdraw your funds, navigate to the withdrawal section of your account, choose your preferred withdrawal method, enter the amount, and follow the instructions to complete the transaction. Note that withdrawals are subject to certain fees and limits.

Does Bitbns have a mobile app?

Yes, Bitbns offers a mobile app available for both Android and iOS platforms, allowing users to trade and manage their accounts from anywhere at any time.

Final opinion on Bitbns

At Threenvest, our comprehensive review of Bitbns highlights it as a robust platform that stands out particularly for its strong foothold in the Indian market. Offering over 90 cryptocurrencies, Bitbns caters to a wide spectrum of trading preferences with features like spot and margin trading, making it a versatile choice for both beginners and seasoned traders. The platform’s user-friendly interface, coupled with a detailed educational resource section, helps demystify cryptocurrency trading for newcomers. Additionally, the systematic investment plans present on Bitbns are a unique feature that allows users to approach crypto investment with a methodical strategy, akin to traditional stock SIPs, which is a notable advantage over many other exchanges.

However, while Bitbns excels in accessibility and variety, it does have areas where it could improve to enhance user experience further. The absence of a mobile app limits on-the-go trading capabilities, which could be a drawback for users who prefer managing their trades from mobile devices. Moreover, the focus primarily on the Indian market means the platform may not cater as comprehensively to the needs of international users, particularly where currency support and multilingual customer service are concerned. In comparison to global leaders in the crypto exchange space, Bitbns could benefit from expanding its derivative trading options and enhancing its customer service response times during peak periods. In conclusion, while Bitbns shows considerable strengths in its offerings, at Threenvest, we recommend it for users within its primary demographic focus, acknowledging that it continues to have growth potential in the broader global arena.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Do not invest unless you are fully prepared to lose the entire amount of your investment. This is a high-risk activity, and you should not rely on any guarantees of protection if something goes wrong.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.

Investing risks losing your money