Bitbns cryptocurrency exchange was established in December 2017. It asserts that it has become one of the leading spot cryptocurrency trading platforms in India. The platform offers a wide variety of trading tools and functions, such as margin trading, stop-limit orders, trailing stop-limit orders, bracket orders, and so on.
The Bitbns exchange does not require users to go through the KYC verification process when registering to the platform. However, users have to go through KYC in order to trade on the Bitbns crypto exchange. Besides, Bitbns can be accessed through the web and mobile devices. The mobile app of Bitbns is available for both Android and iOS systems.
Markets
The exchange provides access to over 150 different coins and 180 different Bitbns trading pairs. The BNB/INR trading pair has the highest Bitbns trade volume and is the most active trading pair overall.
Bitbns crypto exchange allows margin trading, derivatives trading, and Bitbns spot trading. Both crypto-crypto and crypto-fiat assets can be traded on the exchange at different Bitbns crypto price variations.
BNS token is an AOL utility token that is built on top of the blockchain and uses a multi-protocol approach as its foundation. The token is the medium through which users can use their cryptocurrency holdings to make purchases, send payments, and send money to other countries. Besides, VIP levels are assigned to traders according to the amount of BNS tokens they own and the Bitbns trade volume they reach in the period of 30 days. When a VIP member's level is higher, Bitbns exchange fees are reduced.
Bitbns employs stop-limit orders and bracket orders as a means of removing risks and managing those that remain. Stop-limit orders are used in an effort to make secure that traders join the market when the price is high. The purpose of bracket orders, on the other hand, is to guarantee that traders have determined their entry and exit positions before placing their orders. As a result, the prevention of financial losses for traders is the primary focus of both of these systems.
For spot trading, Bitbns crypto fees range from 0.03% to 0.25%. On the other hand, for futures (derivatives), fees are applied according to the maker-taker model. In the case of margin trading, there is only a fee for lenders, which stands at 15%. Thus, there are no fees for borrowers.
Other Services
In addition to various trading options, the platform also offers other tools. One of which is a Launchpad that allows new projects to launch their tokens through Initial Exchange Offerings (IEOs), while investors get the option to invest in these projects.
Also, Bitbns offers its own hardware wallet, which allows users to store their tokens safely in a physical cold wallet.
Moreover, the platform has the Pool Sales feature, which allows users to stake BNS tokens to receive rewards, as well as get various crypto discounts.
Furthermore, Bitbins allows users to earn or win various rewards through contests, Sprink vouchers, and the Predict & Win program.
Lastly, Bitbns offers a peer-to-peer (P2P) fiat deposit and withdrawal mechanism.
About the Company
The Bitbns cryptocurrency exchange was launched in 2017 and is headquartered in Estonia. Gaurav Dahake is the founder and CEO of the Bitbns crypto exchange, while Prashant Singh is the co-founder and CTO.
Gaurav Dahake has a degree in industrial engineering and management. In the past, he was also an executive officer and governing body member at the Gopali Youth Welfare Society (GYWS). Besides, he also co-founded Hult Prize, Cleanoventions, and Buyhatke.
Prashant Singh has a degree in electrical and electronics engineering. He worked as the web team head at Kshitij and a software development engineer at Flipkart.com. In addition to that, he also co-founded Buyhatke.
It's worth noting that Bitbns was the first exchange in India to list more than 50 different cryptocurrencies in less than a year after it initially opened for business.
