BuyUcoin Review
Crypto Exchange And Wallet
Overview
BuyUcoin is an India-based cryptocurrency exchange that was founded in 2016. Its 350,000+ users vouch for the ease with which BuyUcoin enables digital asset trading and serves $90M+ worth of transactions monthly by connecting to Instant Banking services like UPI, Mobile Wallet, IMPS and more. The platform also uses Blockchain-based solutions for crypto transactions along with automatic KYC/AML features to ensure a secure trading experience.
What Is BuyUcoin?
BuyUcoin was established in 2016 and since then it has facilitated more than $50 million worth of transactions. It offers a variety of cryptocurrencies for both EZ/OTC and classic markets, which is open only to Indian investors. The exchange also provides an affiliate and referral program as well as the Crypto Cashback Scratch Card EzBack initiative, making this global best cryptocurrency exchanger marketplace extremely attractive to potential investors.
Products by BuyUcoin
Exchange
The platform provides daily analytical updates about the cryptocurrency trading market so that its customers can wisely choose which cryptocurrencies to invest in.
Cashback Scratch Card
The Crypto Cashback Scratch Card EzBack is a one-of-a-kind program that gives coupons and voucher codes to its customers, with which they can win up to INR 5000. These coupons may be redeemed only once within a given time period.
Sign Up To Win Scratch Card
DeFi Tokens
BuyUcoin is a blockchain-based DeFi trading and storage platform. With Decentralized Finance (DeFi), the cryptocurrency business has been rapidly developing. By using blockchains as technology foundations, we can have an apparently quick transaction/settlement and contract administration with low fees. ChainLink Token, AAVE Token, and other DeFi Tokens are accessible on our OTC desk for trade with 0% Trading Fees and a One-Click Transaction Method.
NFT Marketplace
The NFT Marketplace launched in 2021, and it’s a platform that provides an opportunity for digital asset owners to exchange intellectual property. Owners can sell their work in the marketplace. The BuyUcoin NFT marketplace also facilitates art auctions over a secure blockchain network so creators have access to NFTs for commercialization purposes as well as improving the creative economy by providing access to these new assets.
Derivatives
They are launching the world’s first INR-based crypto derivatives platform soon.
BuyUcoin App
The BuyUcoin app is available on both Android and iOS. The program has a simple and quick user interface which doesn’t load as much compared to the website. Moreover, it’s a better option than the site because all features of the website are on mobile in an easy and accessible way.
How to use BuyUcoin?
- To begin, open the official website of BuyUcoin and click on “Sign up” in the upper right-hand corner.
- Clicking the Sign-Up tab will open up a box where you must enter your Name, Email address, Account type (Company/ Individual), desired password and Country.
- After clicking on the square to accept Terms & Conditions, click ‘create account’ to finalize registration.
- Once you click on verify on the verification link that will be sent to your registered email address, you will have created an account.
- The next step is to complete your KYC registration.
- Next, deposit INR to your wallet by clicking on the “Deposit INR” button on the Dashboard after logging in with a bank transfer, Mobikwik or through a credit/ debit card.
- To start trading with BuyUcoin, go to your dashboard and scroll down to see the coins that are available.
- Finally, click on the Buy button in front of the relevant coin and pairings after checking best crypto exchange rates.
BuyUcoin Fees
BuyUcoin Trading fees
In crypto trading platform, there are two parties involved in every trade. These parties go by different names. The party who makes an order and puts it on the market before a taker decides to purchase that order is named the maker. When someone sees the makers’ offer and decides they want to take them up on their offer, they are called taker-the liquidity providers get discounted fees compared to these people because of how crucial they can be for a trader’s success!
BuyUcoin does not offer a fee for the takers but offers 0.24% for both buyers and sellers. This is in line with the global industry average of trading fees-0.25% on traders as well as makers, which have historically been that way
BuyUcoin Withdrawal fees
Withdrawal fees vary for each crypto asset, but they are usually a fixed amount of the relevant crypto. The industry average BTC withdrawal fee is 0.00053 according to Cryptowisser’s empirical study.
BuyUcoin charges 0.00065 BTC per BTC withdrawal, which is rather close to the industry average with an additional charge on top of it; this may be due to BuyUcoin’s superior service and tech support, so we don’t think it should be seen as too much more than what you would pay at other exchanges even though it exceeds standard limits by a little bit.
Coin | Withdraw Fee | Max Withdraw | Min Withdraw |
INR | 10 INR | 3000000 INR | 20 INR |
BTC | 0.00026 BTC | 10 BTC | 0.002 BTC |
ETH | 0.00384 | 50000 ETH | 0.03 ETH |
USDT | 16 USDT | 500000 USDT | 50 USDT |
LTC | 0.01 LTC | 100 LTC | 0.04 LTC |
Deposit Methods
BuyUcoin does not offer the ability to deposit funds via credit card. However, if you would like to use your credit card for any reason, just browse through the Exchange Finder or our list of exchanges accepting deposits by this method to find an appropriate exchange.
This trading platform accepts direct fiat currency deposits, so it’s a good choice for those who only want to trade in crypto. Plus, this is an “entry-level exchange” since the trades don’t require any crypto!
Coin | Deposit Fee | Max Deposit | Min Deposit |
INR | 7.08 INR | 30000000 INR | 20 INR |
BTC | 0 BTC | 10 BTC | 0.002 BTC |
ETH | 0 ETH | 100 ETH | 0.03 ETH |
USDT | 0 USDT | 100000 USDT | 70 USDT |
LTC | 0 LTC | 100 LTC | 0.05 LTC |
BuyUcoin Pros & Cons
Pros
- In order to simplify and make usage easy, the interface of the mobile app is designed in a user-friendly way.
- The platform allows the trade of more than 40 different cryptocurrencies.
- India’s first OTC desk that doesn’t take any commission.
- This system lets you trade using credit and debit cards.
Cons
- Trade is possible only in Indian currency for Indian investors.
- The Buy/Sell rates are higher than the global average.
- Low liquidity
Buyucoin Review- Final Thought
BuyUcoin provides a simple and easy-to-use interface with its in-house non fungible token marketplace, along with mobile apps that have all the basic functionalities. Soon they will also be launching their derivatives platform.
Apart from all of that, BuyUcoin has certain progressive qualities like a free-of-charge OTC Desk and crypto cashback scratch card. Also, it does not charge any deposit fee and its security system is excellent for keeping your coins safe. In addition to this, the referral program which provides you with passive income is one of the best in business!
It should be noted that, while its buy/sell rates are higher than the global cryptocurrency market due to low liquidity, this buyucoin exchange has a user-friendly interface which allows investors to study the crypto market by clicking on “exchange” at the bottom of their official website page. This can make for an informed investment decision.
