Koinex Review | BNS vs Koinex Comparison

How do you decide on a particular cryptocurrency exchange to trade with?

By now, you would have come across multiple crypto platforms, but how do you decide which cryptocurrency platform is the best to start trading with? Well, it may be a little tricky and with so many reviews available online, you might face the dilemma of choosing the best one. Through this blog, we are trying to look at two very popular crypto exchanges in India, Bitbns and Koinex, along with their features, so that we can help you determine which one is better.

What Makes a Good Exchange?

Maximum coin listings, fees, security and customer support are some of the crucial features that should be considered while comparing between two exchanges. Not all exchanges can work for every trader, no matter how good the exchange is. This is the reason we have brought you a comparison between the features of both the platforms, so that you can decide on which one will best suit your requirements.

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Koinex Vs. Bitbns

Koinex is a digital asset exchange that supports multiple cryptocurrencies on a single platform. It is aimed at bringing the blockchain technology to India, since the time, when not many people were aware of it and has been bridging the gaps.

On the other hand, Bitbns is a new platform launched in 2017 that is aimed at building the easiest and fastest way to transact bitcoins and alternate currencies like Ethereum, Ripple, NEO, Stellar and GAS.

Koinex Vs. Bitbns Trading Fee

Koinex The fee schedules at Koinex are tier-based. More the total volume is traded in the account, lower would be the fee on subsequent trades.

• Other fee structures include:
• Fees on per-trade basis.
• As per the default settings, fees are calculated as a percentage of the trade's quote currency volume.
• User fee volume levels are measured and applicable for trades occurring in the last 30 days only.

Bitbns At Bitbns, each transaction is charged a flat 0.25% trade fee, regardless of the volume a customer is trading. However, the customer is eligible for a rebate if the total trade volume per day is greater than ₹4,00,000.

The platform calculates the updated fees for the daily trade volume, depending on the daily trade volume slab. The difference between the old fee and the updated fee is credited back to the wallet.

Koinex Vs. Bitbns INR Deposit Fee

In Koinex, for INR deposit via NEFT/IMPS/RTGS and payment gateway including major banks, the platform charges 2% on the deposit. Moreover, the platform does not provide an option of free and instant deposit.

On the other hand, Bitbns facilitates INR deposit via UPI/NEFT/IMPS/RTGS, along with free and instant deposits to the traders.

Koinex Vs. Bitbns INR Withdrawal Fee

INR withdrawal at Koinex is a time consuming task. However, Bitbns platform supports faster INR withdrawal with zero fee.

Koinex Vs. Bitbns Crypto Withdrawal

Koinex does not support unlimited cryptocurrency withdrawal or low fee on withdrawals. However, low fee and unlimited cryptocurrency withdrawal are added features on Bitbns platform.

Koinex Vs. Bitbns Free Coins

While Koinex does not provides any free coins, Bitbns offers lucrative flash sales to traders and investors. Since its inception, Bitbns has launched multiple flash sales on different coins including Bitcoin, Ethereum, NEO, and Ripple. Noobs can always try their hands on these flash sales and get benefited with the amazing offers.

Koinex Vs. Bitbns Customer Support

Koinex claims that their team provides support hours from 10 AM to 8 PM and works diligently towards resolving the customer queries. However, the platform has disconnected their social communication service.

At Bitbns, the customer support is unequivocal. The customer support team strives hard to give a speedier response around all issues. The platform supports social communication to traders and investors via Telegram, which is available 24x7. This is an added features over Koinex.

Koinex Vs. Bitbns Mobile App

In addition to customer support, both the platforms endow their customers with easy-to-access mobile apps, which are quite user-friendly and also support on-the-go-trading. Bitbns is India's first exchange to have multi cryptocurrency trading app.

Koinex Vs. Bitbns Crypto Assets

Koinex has a support for cryptocurrencies, namely, Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple. On the contrary, Bitbns supports all top cryptocurrencies, including Bitcoin, Ethereum, Ripple, NEO, GAS, and Stellar.

Koinex Vs. Bitbns Security

Koinex claims that it is completely safe to use for crypto trading. The platform has been built using latest technology architecture and grade-A security that ensures cryptocurrencies, all data, wallets and INR volumes are safe. In addition to this, two factor authentication is an added feature at Koinex that provides double security. It uses OTP for ensuring that all important account activity is always authorized.

Bitbns is extremely safe to trade cryptocurrencies. This platform also uses grade-A security feature and ensures that cryptocurrencies, wallets and INR volumes are secure. In addition to this, they use google authenticator and provide support for 2FA authentication.

So, now you will be able to decide as to which crypto trading platform will suit your requirement and will be a better choice for you.