Bitbns has listed 641+ digital assets and offers Spot / Margin and Futures trading services. Crypto Gift Vouchers, a Hardware wallet (special offer: ₹14,999,) and crypto taxes filing through a partnership with Binocs and Koinx are some other services of Bitbns exchange.
Bitbns (An Introduction to the Exchange and Its Regulatory Status)
Bitbns is a popular Indian cryptocurrency exchange founded on December 14, 2017. The platform has quickly grown to become one of the leading crypto exchanges in India, boasting over $2.1M daily trading volume. Key features of Bitbns:
- Diverse order types (market, limit, and stop-limit orders);
- Secure hot and cold wallets for cryptocurrency storage;
- A wide selection of trading pairs;
- Margin trading capabilities with leverage of up to 1:4;
- Access to cryptocurrency Futures and Options (coming soon) trading;
- Fixed deposit products for earning interest on crypto holdings.
Regarding its regulatory status, Bitbns is registered with the Financial Intelligence Unit of India (FIU-India).
This registration signifies that the exchange complies with the global standards of the Financial Action Task Force (FATF) for Virtual Asset Service Providers (VASPs).
Bitbns Table of Specifications
Bitbns offers a comprehensive suite of features and services tailored to meet the diverse needs of cryptocurrency traders.
Exchange | Bitbns |
Launch Date | 2017 |
Levels | Explorer – VIP 9 |
Trading Fees | Spot 0.25% - 0.03% Futures Maker 0.0% / Taker 0.1% Margin Borrower 0% / Lender 15% |
Restricted Countries | North Korea, Iran, Myanmar, Syria, Yemen, Algeria, Angola, Bulgaria, Cameroon, Croatia, Haiti, Mali, Nigeria, South Africa, Venezuela |
Supported Coins | 641+ |
Futures Trading | Yes |
Minimum Deposit | ₹100 |
Deposit Methods | UPI, Bank Transfer, Crypto |
Withdrawal Methods | Instant Transfer, Bank Transfer, Crypto |
Maximum Leverage | 1:10 |
Minimum Trade Size | 4 USDT |
Security Factors | 2FA, Fingerprint Access, Location Checks |
Services | Tax Filing, Staking, Gift Voucher, API Trading |
Customer Support Ways | FAQ Section, Ticket |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes (INR, AED) |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | BNS |
Bitbns User Levels
The exchange offers fee discounts through its 11-tiered user level structure based on monthly trading volume and BNS token holdings.
Level | 30D Trading Volume (USDT) | BNS Balance (equal in USD) | Fees |
Explorer | ≥ 0 | < $100 | 0.2500% |
VIP 0 | < 6,000 | ≥ $100 | 0.1875% |
VIP 1 | ≥ 6,000 | ≥ $200 | 0.1725% |
VIP 2 | ≥ 80,000 | ≥ $1,000 | 0.1500% |
VIP 3 | ≥ 500,000 | ≥ $2,500 | 0.1125% |
VIP 4 | ≥ 2,000,000 | ≥ $10,000 | 0.0900% |
VIP 5 | ≥ 10,000,000 | ≥ $25,000 | 0.0750% |
VIP 6 | ≥ 20,000,000 | ≥ $50,000 | 0.0600% |
VIP 7 | ≥ 30,000,000 | ≥ $100,000 | 0.0450% |
VIP 8 | ≥ 50,000,000 | ≥ $150,000 | 0.0375% |
VIP 9 | ≥ 80,000,000 | ≥ $200,000 | 0.0300% |
Bitbns Fees and Commissions
We must discuss the fee structure in this Bitbns review. the exchange takes a simple and transparent approach to trading and deposit / withdrawal costs.
- Spot Trading: Range from 0.0300% to 0.2500% based on VIP level;
- Derivatives (Futures): 0% for Makers (Introductory offer) and 0.1% for Takers;
- Margin Trading: 0% for Borrowers and 15% for Lenders;
- Crypto Withdrawal: Fee and minimum amount vary based on the token;
- INR Withdrawal: Ranging from ₹0.0 to ₹9.0.
Listed Coins on Bitbns Exchange
The platform has listed over 641+ digital assets and many more trading pairs with INR and USDT as base currencies.
Some of the most popular tokens listed on Bitbns:
- BTC;
- AAVE;
- ETH;
- BNB;
- BCH;
- DOGE;
- ADA;
- EOS;
- FIL;
- LTC.
Derivatives and Margin Trading on Bitbns
In addition to a comprehensive Spot market, Bitbns also provides access to Crypto Futures and Margin trading with the following key features:
Derivatives (Futures)
- Leverage options of up to 1:10 in Derivatives;
- 10 trading pairs on digital assets, such as BTC, SHIB, ADA, BNB, ETH;
- Options trading will be added soon;
- Limit and Bracket
Margin
- Trading on 30 coins, including PHB, POLY, XRP, SIA, and USDT;
- Leverage options of up to 1:4;
- Suitable for investors to lend their free margin and earn interest rates and for borrowers to access a larger trading capital.
Bitbns Registration and KYC
To start trading on Bitbns, users must complete a registration and Know Your Customer (KYC) process.
- Visit the exchange’s official website;
- Click “Sign Up;”
- Fill out the registration form;
- Enter the OTP sent to your email;
- Navigate to the “Profile” section and click “Complete KYC;”
- Choose verification for “International Users;”
- Link your phone number;
- Provide proof of identity (ID card, passport, or Driving license) and proof of address (utility bill, bank statement, or government-issued ID containing address);
- Record a selfie video while holding your ID card and a handwritten text;
- Provide your bank details.
Bitbns Security and Safety
The company is an ISO 27001 certified exchange implementing various measures to ensure the security of user funds and data, including:
- Two-Factor Authentication (2FA);
- Bug Bounty Program with a minimum reward of 1,000 INR;
- Location checks for withdrawals.
Bitbns Payment Methods
While the platform supports Crypto and Fiat transactions, the only available fiat currencies are INR and AED (for UAE citizens).
The available INR payment methods:
Deposit | UPI, Bank Transfer, P2P USDT |
Withdrawal | Normal (30 to 60 working days), P2P USDT, and Instant |
Bitbns User Satisfaction
Trust score may be the most important topic in this Bitbns review. Users’ feedback to the exchange is generally negative with lower than average ratings on reputable platforms, including:
1.4 out of 5 based on 139 reviews | |
Reviews.io | 2.1 out of 5 based on 12 ratings |
CoinGecko | 4 out of 10 |
Users have complained about various issues, including withdrawals taking longer than they should, poor customer support, and fraudulent activities.
Bitbns Copy Trading and Investment Plans
While the exchange doesn’t directly offer copy trading, it provides API Trading services for programmers through its Node and Python APIs and for novices with less coding knowledge via the Google Sheets API.
Bitbns also offers multiple investment opportunities, including:
- Margin Lenders: Lend your assets and earn interest rates;
- Bitdroplet: Systematic Investment Plan (SIP) in BTC, Gold, Silver, and ETH with a trade fee of 0.25%;
- Staking: Fixed deposit products with APY of up to 15%.
Writer’s opinion and conclusion
Bitbns provides leverage options of up to 1:10 for Futures and Margin trading on 40 crypto trading pairs. Future contracts come with 0% fees for makers and a 0.1% commission for takers.
Bitbns exchange also has a Chrome / Firefox extension providing arbitrage opportunities between Binance, Kucoin, and Gate.io platforms.
The lack of live chat support and a lengthy withdrawal process (up to 60 days) has caused multiple negative Bitbns reviews and a low score of 1.4/5 on TrustPilot.
