20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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Koinbazar Review 2024
Minimum
deposit:
deposit:
- 100 INR
Trading platform:
- Web platform
- Mobile Apps
Minimum
deposit:
deposit:
- 100 INR
Trading platform:
- Web platform
- Mobile Apps
Trading features:
- Only Indian rupees are available as fiat currency
Summary of Koinbazar Crypto Exchange
Koinbazar is a high-risk cryptocurrency exchange with the TU Overall Score of 2.69 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Koinbazar clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. Koinbazar ranks 163 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
Koinbazar is a cryptocurrency exchange for transactions with digital assets, including the purchase of cryptocurrencies for rupees. It does not provide leverage to its clients, so they can only trade using their own capital.
NOTE!
If you are planning to trade cryptocurrencies, and not just keep your savings in crypto wallets, we recommend that you choose one of the top brokers with reliable regulation and access to trading crypto CFDs. This type of trading will help you avoid holding your cryptocurrency in e-wallets of exchanges, which quite regularly get hacked. Also, availability of leverage will allow you to trade crypto CFDs for amounts much higher than your deposit.
Traders Union experts recommend considering Top 3 companies from our rating:
Editorial Note: We are unable to verify the validity of reviews and publish all reviews, both positive and negative,
in accordance with the
Users Reviews Policy.
Koinbazar is an Indian cryptocurrency exchange that is available to traders worldwide. It offers access to trading 65 cryptocurrencies through mobile apps and a proprietary web platform. Koinbazar has been operating since September 2020 and is a centralized exchange. It focuses on active spot trading with the trader's own funds. Koinbazar offers educational and analytical materials, welcome bonuses and provides professional customer support 24/7 via email. You can list your own digital coin or token on the exchange, and you can also create a corporate account.
| 💰 Account currency: | INR, cryptocurrencies |
|---|---|
| 🚀 Minimum deposit: | Fiat currencies — 100 INR, cryptocurrencies — any amount |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | 0-12% for taker and maker |
| 🔧 Instruments: | 65 cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with Koinbazar:
- low entry threshold for a trader with any amount of free capital — there are no minimum deposit requirement in cryptocurrencies;
- zero fees for 10 pairs with XRP, GRT, MATIC, SFP, SUPER and WBTC — for both makers and takers;
- a wide range of cryptocurrencies, including rare ones;
- placing orders in user-friendly trading apps based on TradingView service;
- referral program and bonuses for new clients;
- customer support 24/7;
- t11 timeframes and more than 60 technical indicators in trading platforms.
👎 Disadvantages of Koinbazar:
- only one fiat currency is supported — the Indian rupee;
- there are no investment programs for earning passive income;
- it is not possible to deposit fiat money to the wallet from cards, only via a bank transfer with payment of an additional commission.
Evaluation of the most influential parameters of Koinbazar
Geographic Distribution of Koinbazar Traders
Popularity in
95.3%
IN
8.7%
Others
User Satisfaction i
1 comments
Total score:
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jackgo69
1 year ago
Expert Review of Koinbazar
Koinbazar is an exchange for spot trading of cryptocurrencies. It is based in India, so the only fiat currency available is rupees (INR). At the same time, Koinbazar is an international exchange and provides services worldwide. It is focused on traders who trade cryptocurrency pairs and are not tied to transactions in dollars, euros, pounds sterling and other fiat currencies. Currently, the clients of Koinbazar can buy and sell more than 65 digital assets using INR or other cryptocurrencies.
The developers of this exchange have chosen general software. For example, the Koinbazar trading platform shows TradingView charts that are popular all over the world. Mobile apps, technical support and a trading web platform are available in English. If a trader lives in India, then he can become a client of the exchange after reaching the age of 21. Traders from other countries can register from the age of 18.
The exchange has its native cryptocurrency — Koin Bazar Coin (KBC ticker). It runs on the Ethereum blockchain according to the ERC 20 standard and has a fixed limit of 100 million coins. Koinbazar regularly offers welcome bonuses to new clients. All traders registered in 2022 who have passed verification receive 500,000 SAITAMA coins. Previously, the exchange credited bonuses in the form of Buff Doge and Shiba Inu coins.
Dynamics of Koinbazar’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets, and Products of the Crypto Exchange
The Koinbazar exchange is intended for active cryptocurrency trading. Investment offers to its clients are not available. The only way to receive passive income without making transactions is to participate in the referral program.
Important!
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 the deal and all the steps from signing up to withdrawal of profits.
Koinbazar's affiliate program
Koinbazar offers its clients a referral program. The reward for the partner is 100,000 SAITAMA tokens for each referral who registered using its link and passed the KYC procedure.
A partner can invite an unlimited number of referrals. Free SAITAMA coins are credited immediately after the referred trader passes verification.
Trading Conditions for Koinbazar Users
Koinbazar has no requirements for deposits in cryptocurrency and loyal requirements for deposits in fiat, for example, 100 INR is worth 1.25 USD at the time of writing this review. At the same time, withdrawal limits are applied on the exchange: minimum amounts are 0.001 BTC, 0.2 ETC, and 0.05 LTC.
100 INR
Minimum
deposit
1:1
Leverage
24/7
Support
| 💻 Trading platform: | Mobile apps, and a web platform based on TradingView |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | INR, cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Bank transfer, cryptocurrency transactions |
| 🚀 Minimum deposit: | Fiat currencies — 100 INR, cryptocurrencies — any amount |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | Fiat currencies — 100 INR, cryptocurrencies — any amount |
| 💱 Spread: | 0-12% for taker and maker |
| 🔧 Instruments: | 65 cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Limit, Market |
| ⭐ Trading features: | Only Indian rupees are available as fiat currency |
| 🎁 Contests and bonuses: | Welcome bonus (periodically), regular contests with monetary rewards |
Broker comparison table of trading instruments
| Koinbazar | Bybit | OKX | XT.com | Cryptohopper | Phemex | |
| Forex | No | No | No | No | No | No |
| Metalls | No | No | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | Yes | Yes |
| CFD | No | No | No | No | No | No |
| Indexes | No | No | No | No | No | No |
| Stock | No | No | No | No | No | No |
| ETF | No | No | No | No | No | No |
| Options | No | No | No | No | No | No |
Koinbazar Commissions & Fees
Information
The fee amount on the Koinbazar exchange depends on the pair chosen for trading, while takers and makers pay the same rate. The fee for most trading pairs is 0.25%. However, pairs with zero commission are available. These include GRT/BTC, GRT/ETH, GRT/USDT, MATIC/USDT, SFP/BTC, SFP/USDT, SUPER/BTC, WBTC/BTC, WBTC/ETH, and XRP/ETH.
The fee for makers and takers on HDOGE/INR is 12%, on SAITAMA/INR and SAITAMA/USDT is 2%, and on SHIB/USDT is 0.65%. The withdrawal fee for cryptocurrencies is 0.0006 BTC, 0.1 ETC, 2 XRP, 10 TRX, and 0.02 LTC. Citizens and tax residents of India also pay income tax (TDS) in the amount of 1%-5% of the income amount. The withdrawal fee for INR depends on the beneficiary bank.
The fee for makers and takers on HDOGE/INR is 12%, on SAITAMA/INR and SAITAMA/USDT is 2%, and on SHIB/USDT is 0.65%. The withdrawal fee for cryptocurrencies is 0.0006 BTC, 0.1 ETC, 2 XRP, 10 TRX, and 0.02 LTC. Citizens and tax residents of India also pay income tax (TDS) in the amount of 1%-5% of the income amount. The withdrawal fee for INR depends on the beneficiary bank.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | $2.5 per $1000 transaction | Yes |
Comparing the average commission of the Koinbazar exchange and its competitors is important in terms of benefits for the traders. The lower the trading fees, the higher the profit the cryptocurrency trader receives.
| Broker | Average commission | Level |
| Koinbazar | $2.5 | Low |
| Binance | $6 | Medium |
| Bybit | $20 | High |
Contacts
| Foundation date | 2017 |
| Registration address | Chennai, Tamil Nadu, India |
| Official site | http://koinbazar.com/ |
| Contacts |
Email:
support@koinbazar.com,
|
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FAQs
Do reviews by traders influence the Koinbazar rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Koinbazar you need to go to the broker's profile.
How to leave a review about Koinbazar on the Traders Union website?
To leave a review about Koinbazar, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about Koinbazar on a non-Traders Union client?
Anyone can leave feedback about Koinbazar on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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