Bitbns is a cryptocurrency exchange founded on December 14, 2017, by IIT graduates based in Pune, India. It offers spot, margin, and futures trading across 641+ digital assets, with over $2.1 million in daily trading volume. The platform specializes in serving Indian traders through seamless integration with local payment systems like UPI.
This Bitbns review covers everything you need to know about the platform's features, fees, security, and how it stacks up against competitors.
What is Bitbns?
Bitbns started as a simple crypto trading platform but quickly expanded into a full-service ecosystem. It now supports over 641 cryptocurrencies, including Bitcoin, Ethereum, and popular altcoins like Solana and Cardano. The platform handles $2.1 million in trades daily, making it one of India's most active exchanges. Its founders, all IIT graduates, focused on solving real problems for Indian users-like fast, cheap deposits and withdrawals.
Trading Features and Fees
Bitbns charges a flat 0.25% fee for both makers and takers on trades. That's exactly the global industry average. For example, if you trade ₹10,000 worth of Bitcoin, you'll pay ₹25 in fees. Traders who move over ₹400,000 daily get rebates on these fees. The platform also offers margin trading with up to 1:4 leverage, meaning you can control four times your deposit. Stop-limit orders and market orders are available, making it easy to set precise trade conditions.
Bitcoin withdrawals cost 0.0005 BTC, which is 40% lower than the global average of 0.0008 BTC. For most other cryptocurrencies, withdrawals are completely free. This makes Bitbns cheaper than competitors like Unocoin, which charges higher fees for both trading and withdrawals.
Security and Regulatory Status
Bitbns has never suffered a successful hack, which is impressive. However, its security rating from Traders Union is just 4.75 out of 10. That's because it lacks government regulation in India. The exchange is registered with FIU-India (Financial Intelligence Unit), which means it follows some anti-money laundering rules. But it doesn't have licenses from SEBI or RBI like traditional banks. It uses cold wallet storage for most funds and offers two-factor authentication (2FA) for accounts. Still, the absence of formal regulation means users have less legal protection if something goes wrong.
Payment Methods and Deposits
Indian users get the best experience with Bitbns. You can deposit funds instantly and for free using UPI (like Paytm or PhonePe), NEFT, RTGS, or IMPS. No extra fees, no waiting days. International users can only use wire transfers, which take longer and cost more. Bitbns doesn't accept credit cards or PayPal at all. For UAE users, there's a workaround: you can deposit via USDT P2P, where your money is matched with someone else's USDT trade. But this isn't as smooth as direct deposits.
Comparison with Competitors
| Feature | Bitbns | Unocoin | Bitoasis |
|---|---|---|---|
| Trading Fees | 0.25% (maker/taker) | 0.70% | 0.25% (approx) |
| Bitcoin Withdrawal Fee | 0.0005 BTC | 0.001 BTC | 60 AED |
| Deposit Methods | UPI, NEFT, RTGS, IMPS | Bank Transfer | Wire Transfer |
| Margin Trading | Up to 1:4 leverage | No | Yes |
| Customer Support | 24/7 Telegram (5-min response) | Business hours only | Email support |
Unocoin only supports Bitcoin trading, while Bitbns has over 640 assets. Bitoasis charges 60 AED per withdrawal fee, which is much higher than Bitbns' Bitcoin fee. Bitbns also has faster customer support through Telegram, while Unocoin and Bitoasis rely on slower email or phone support.
Customer Support and Mobile App
Bitbns' customer support is a standout feature. You can chat with them 24/7 on Telegram, and they typically respond within five minutes. That's way faster than Unocoin, which only operates during business hours. The mobile app is clean and easy to use, with all the features of the desktop site. Users praise how quickly they can deposit funds via UPI and start trading. The app also shows real-time market data without lag, which matters when prices swing fast.
Pros and Cons
- Pros: Low trading fees (0.25%), free altcoin withdrawals, UPI deposits (instant and free), 24/7 Telegram support, margin trading up to 1:4 leverage.
- Cons: No credit card deposits, low security rating (4.75/10), no government regulation, international users miss out on local payment options.
Who Should Use Bitbns?
Bitbns is perfect for Indian traders who want to buy altcoins quickly and cheaply. If you use UPI daily, this exchange fits right into your routine. It's also great for active traders who need margin trading or want to avoid high withdrawal fees. But if you're outside India or need to deposit with a credit card, you'll struggle. Same if you want a regulated exchange with government-backed protection. For those users, platforms like Kraken or Coinbase might be better options.
Additional Services
Bitbns offers Crypto Gift Vouchers and sells hardware wallets for ₹14,999. They've partnered with Binocs and Koinx for tax filing services, which helps Indian users comply with tax laws. There's also a fixed deposit feature where you can earn interest on your crypto holdings. Past promotions included free Bitcoin for new users during flash sales. These extras make Bitbns more than just a trading platform-it's a full crypto ecosystem for Indian users.
Is Bitbns safe to use?
Bitbns has never been hacked, which is a positive sign. However, its security score from Traders Union is 4.75/10, indicating moderate risk. It uses cold wallet storage for most funds and offers two-factor authentication. But since it's not regulated by the Indian government, there's less protection for users compared to regulated exchanges.
How do I deposit money on Bitbns?
Indian users can deposit via UPI (free and instant), NEFT, RTGS, or IMPS. International users can use wire transfers. Bitbns doesn't accept credit cards or PayPal, so you'll need a bank account to fund your account.
What are the trading fees on Bitbns?
Bitbns charges a flat 0.25% fee for both makers and takers, which matches the global industry average. Traders with daily volumes over ₹400,000 get rebates on fees. Bitcoin withdrawals cost 0.0005 BTC, which is lower than most exchanges.
How does Bitbns compare to Unocoin?
Bitbns charges lower fees (0.25% vs. Unocoin's 0.70%) and supports more altcoins. Unocoin only offers Bitcoin trading, while Bitbns has 641+ assets. Bitbns also has better payment options like UPI, while Unocoin relies on traditional bank transfers.
Can I use Bitbns outside India?
Bitbns is primarily designed for Indian users. While international users can deposit via wire transfer, they miss out on UPI and other local payment methods. The platform doesn't support credit cards, which limits accessibility for non-Indian users.
