Is Bitbns safe and legal?

Is bitbns legal and safe

Bitbns is safe to use! It has the latest technology architecture and grade-A security features. This makes sure that all your data, cryptocurrencies, INR volumes, and wallets are secure. Rest assured, they are not accessible to unauthorized entities.

All your cryptocurrency transactions are secured by a two-factor authentication process. While INR volumes are kept in secure offline storage. With Bitbns you own your private keys and no third party is involved.

Bitbns is the easiest and fastest way to buy, sell and trade bitcoins in India. One can register and get their INR wallet in less than 45 seconds.

With the seamless integration of Blockchain technology, buying, selling or trading of cryptocurrencies is made seamless on Bitbns. Users need not store cryptocurrency in wallets because when they are sold off. The money is directly deposited in their bank account. 

Bitbns is a highly secure and user-friendly cryptocurrency trading platform that provides a wide range of services. Including built-in wallets, dedicated customer support, and 24/7 cryptocurrency trading.

The substantial features make Bitbns the superior one in the market. The concept is unique in the sense that Bitbns is the first cryptocurrency exchange platform based out of India. Which offers the ability to buy, sell, trade and withdraw cryptocurrencies just like traditional forex.

Protected by SSL encryption and offline cold storage. Their state of the art trading platform is designed to provide you with a unique and secure alternative. To identify and exploit market inefficiencies that ultimately lead to profitability. 

Each user has the option to enable 2FA. When enabled, each login request goes through our Trusted key’s servers before reaching Bitbns. This means that anyone trying to log in with your username and password would have to do it in front of our servers, which know your IP address”.

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Is Bitbns legal in India?

It is not illegal for Indian companies or citizens to trade in virtual currencies. That being said, since there are no laws within the country defining the status of virtual currencies.  It is important to note that they are not legal tender.

This means they are not recognized by any central bank of India. Even though some exchanges do accept deposits in rupees.

You can register an account on Bitbns very quickly. The process is not complicated at all. After your registration. You have to deposit Rupees to your Bitbns account. The minimum amount you have to deposit for Rupees is ₹100.

The maximum money you can deposit through Netbanking is ₹50,000 per transaction. You can also deposit via IMPS or Debit card or Credit Card. Apart from the Indian Rupees, you must have Ethereum/ Litecoin/ Bitcoin to trade cryptocurrencies on this platform.

In contrast, the legality of cryptocurrencies varies from country to country, with some allowing them as a form of payment and others banning them. As yet, no major government is fully comfortable with its status.

Yes, Bitbns is a legal and safe to use, licensed and 100% Indian cryptocurrency Exchange partnered with banks and global payment providers. They operate within the legal guidelines defined by the Indian government. They are committed to bringing you a secure and easy experience when trading and investing in cryptos.

Bitbns is the first and only legitimate bitcoin and ethereum exchange to be launched in India by a team, who has extensive experience working in India’s top startups.

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Features of Bitbns

Fiat Deposit and Withdrawal

Once they receive your KYC, you will be directed to deposit INR (Indian national rupees) using any of the supported payment gateways. Such as UPI, NEFT, IMPS, and RTGS. Once you successfully deposit INR to your account, you can request a crypto-INR trade. 

Bitbns brings a new level of convenience to money transfers in India. With the app, you can make instant money transfers 24/7. That too from anywhere in the world with the flick of a finger. It has been designed to cater to the needs of Indian expatriates, tourists and P2P payments. With zero charges for international remittances. Bitbns will redefine your expectations from a money transfer app.

There is no fee for deposits through IMPS/NEFT/RTGS.  There is a 1.77% fee for using the Mobikwik wallet. The platform charges you 0.05% for making withdrawals through cheque or net banking and 4% if done through NEFT/RTGS. Bitbns users can get the withdrawal fee rebated by holding their in-house token BNS.

Easy to Deposit and Withdraw Cryptocurrency 

The user will have to put his Bitbns wallet address on any of these platforms. Once he has done that the transfer will be initiated through the corresponding website/app. Once that is done. He can see the transaction reflected in his Bitbns wallet.

Along with the fiat deposit features for buying/selling cryptocurrencies on Bitbns, Cryptocurrency to Crypto and Crypto to Fiat. You can now do cryptocurrency to wallet transfers. The main objective of the platform is to provide complete ease of access for everyone who wants to use their cryptocurrencies.

The Bitbns Platform is a Cryptocurrency only trading platform where you can buy/sell ETH. BTC and INR with a small fee of 0.25% against the trade value. The deposit can be done by Government approved web wallets like Unocoin, Zebpay, Coinsecure, Paytm etc.

Also, there is no charge for the deposit of cryptocurrency. You can withdraw your cryptocurrencies to another crypto wallet as it will have an open API. Customers can also use the peer to peer deposit and withdrawal method as there is no fee for the deposit of cryptocurrency and Bitbns wallet.

Trading

If you want to trade with the comfort of knowing that your funds are safe. Bitbns has always got you covered. Trading using leverage is also available for serious traders. And it’s up to you how much you use. Bitbns provides a seamless mechanism of spot trades and margin trade. Margin is available on spot trades up to 4X.

Bitbns is a global, blockchain asset trading platform. It offers spot trading and margin trading on 132 coins, as well as 37 fiat pairs. The platform has a strong emphasis on user experience as well as catering to cryptocurrency trading beginners as well as experienced traders.

To Sum Up

Bitbns Exchange is India’s fastest growing crypto-asset exchange. It has served more than thousands of customers all across the globe. Bitbns offers the most competitive rates for a cryptocurrency exchange in India. Allowing you to buy/sell your BTCs, ETHs, and INR safely and smoothly.

With the security of a centralized exchange combined with the decentralized settlement. Bitbns is the new generation cryptocurrency exchange platform. Bitbns allows you to perform simultaneous spot and margin trading on over 136 tokens listed as 164 trading pairs, with up to 4X leverage on spot trades.

You can place your usual market, limit, or stop-limit order. The exchange offers the speed for quick trades while supporting complex orders using multiple order types.

So far, BitBNS is doing well in terms of trust and quality. But I feel that because of the huge market competition. BitBNS should consider the feedback and issues reported by their customers. And would resolve it ASAP. They should also consider scaling its system to handle more users since right now BitBNS only contains 0.1 BTC (as of 24th August 2018).

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