What is BuyUcoin?
BuyUcoin is an Indian cryptocurrency exchange that has been operating since 2016. It positions itself as India's most honest, secure, and trusted digital currency company, catering exclusively to Indian investors.
Advantages of BuyUcoin
BuyUcoin emphasizes its commitment to honesty and security, distinguishing itself in India's competitive digital currency landscape. However, it's important to note that the platform is exclusively open to Indian investors, requiring a +91 phone number for account creation.
Restricted Access for Non-Indian Investors
BuyUcoin's exclusivity means that non-Indian investors, including those from the United States, cannot trade on the platform. Alternative exchanges like Bitbns and ZebPay may cater to a broader international audience, but BuyUcoin aligns itself with a solely Indian user base.
OTC Desk
One notable feature of BuyUcoin is its OTC desk, facilitating large trades with quick settlement. This service allows users to execute significant transactions off the open market, providing an alternative for trades sensitive to pricing fluctuations.
Trading View
The trading view on BuyUcoin varies, as with any exchange. Users are encouraged to explore the interface to ensure it aligns with their preferences. Typical features include order book displays, cryptocurrency price charts, and order history.
Trading Fees
BuyUcoin adopts a unique approach to trading fees, offering the same rate of 0.24% for both makers and takers. This contrasts with industry norms where makers usually enjoy lower fees due to their role in providing liquidity.
Withdrawal Fees
Withdrawal fees on BuyUcoin vary based on the cryptocurrency being withdrawn. Unlike trading fees, withdrawal fees are typically fixed amounts of the relevant crypto asset and are not percentage-based.
Deposit Methods
BuyUcoin accepts wire transfers as a deposit method, excluding credit card deposits. This limitation might inconvenience users who prefer credit card transactions. However, the platform's acceptance of fiat currency deposits sets it apart as an entry-level exchange, accommodating those new to cryptocurrency trading.
What are the trading fees on BuyUcoin?
BuyUcoin adopts a unique approach to trading fees, offering the same rate of 0.24% for both makers and takers. This contrasts with industry norms where makers usually enjoy lower fees due to their role in providing liquidity.
Does BuyUcoin offer leverage trading?
BuyUcoin does not currently offer margin trading or leverage options.
