Is Bitbns a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Bitbns is a good crypto exchange to start trading with. In this article you will learn whether Bitbns is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Bitbns
The Bitbns exchange is a platform to sell and purchase cryptocurrencies with an investment opportunity. Bitcoin, Ethereum, Tether, Ripple, BonusCoin, Tron, dozens of other cryptocurrencies, and tokenized assets are traded on the exchange. Cryptocurrency-cryptocurrency and cryptocurrency-fiat pairs are provided and the only fiat is the Indian rupee. You can use a standard e-wallet or order a hardware wallet to store funds. The investment portfolio includes several programs and is updated every 30 days. The minimum deposit is $1. The website offers a detailed investment calculator and extra financial instruments. The exchange offers a one-level referral program and a training system for novice traders. There is no mobile trading. Commissions differ in terms of trading levels and they are below the market average.
| 💰 Account currency: | Cryptocurrencies, Indian rupee |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, Indian rupee |
| 💹 Margin Call / Stop Out: | No |
Bitbns Pros and Cons
👍 Advantages of trading with Bitbns:
•all popular cryptocurrencies and tokens are available;
•convenient and functional trading terminal in the browser;
•regularly updated investment portfolio;
•the ability to order a hardware wallet for cryptocurrencies;
•integrated automated trading service;
•training system for novice traders;
•referral program with mutual encouragement.
👎 Disadvantages of Bitbns:
•no mobile trading;
•only Indian rupees are represented in the range of fiats.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for Bitbns Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Bitbns offers traders the following conditions.
| 💻 Trading platform: | Proprietary web terminal |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, Indian rupee |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, Indian rupee |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | No |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | n/a |
| ⭐ Trading features: | Variety of cryptocurrencies, Indian rupee, automated investments, and renewable investment portfolios |
| 🎁 Contests and bonuses: | Bug Bounty Program |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Bitbns commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
Exchange fees are determined by the trading level. It depends on two parameters: the user's trading volume for the last 30 days and the number of BNS tokens in the account. There are nine full levels in addition to the starting level.
The commission fee is 0.25% at the starting level, with zero trading volume and the amount of BNS on the account for less than $100. It is the same for the taker/maker. As the trading level rises, the commission fee decreases.
For example, at the highest (ninth) level, the fee is 0.03%. Please note that the indicated commissions are relevant when the Pay with BNS option is enabled. If the option is disabled, all commissions are 0.25% regardless of the trading level.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.25% per application | No |
Investment programs of Bitbns
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Bitbns offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
Bitbns cryptocurrency exchange offers two investment programs – Fixed Income Plans and Bitdroplet. Fixed Income Plans are an updated investment portfolio that regularly publishes programs available to investors.
Investment programs are formed based on the demand from the partners of the site. These are blockchain projects requiring borrowed funds. Investors provide these funds in exchange for interest payments. Follow the appropriate section of the site, and find all the current programs and terms – the deposit period (usually 30 days), the minimum deposit, and the interest paid (range 10-20%). Once the deposit has been made, it cannot be changed or withdrawn until the end of the program period.
Bitdroplet is a simplified solution for investors. You don’t need to choose any programs. Just activate Bitdroplet Gold, Silver, or Ethereum in one click and replenish your deposit at any time (minimum contribution $1). Payments on the deposit are made permanently, their size depends on the amount deposited. No further action is required.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Bitbns’ affiliate programs
This cryptocurrency exchange offers a standard one-level affiliate program. Please verify your account to participate in the program. After verification, a referral link will be available in your personal account. You can place it on any site without restrictions.
Each user who follows your link and registers on the cryptocurrency exchange will become your referral. Further, the following options are possible:
If your referral started trading without verification, he does not get any payments, and you get 10% of the commission fees for his trading operations.
If your referral has been verified and started trading, 100 Indian rupees in BTC will be credited to the referral’s account, and 50% of his commission fees will be available to you.
The referral program is unlimited, and you get payments from the partner as long as he trades on the site. The number of partners is unlimited.
Conclusion. Is Bitbns good for beginners?
The Bitbns cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Bitbns could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.