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Posts tagged as “Bitbns”

Coinbase Pro Increases Fees, Updates Market Structure ‘to Increase Liquidity’ ! Other crypto news

This is a daily round up of important blockchain and crypto news between March 17, 2019 and March 18, 2019 . The focus is on important news around developments in the blockchain space, on exchanges and crypto projects.  Please note that this is neither the only nor the exhaustive list, we are constantly trying to improve the feed and if you have any feedback, please feel free to contact us 1.…

Earn Interest on Crypto Holdings: Comparing Bitbns, CoinDCX & Nuo for Lending Digital Assets

Such is the nature of Crypto markets that it is green a minute and another, it is bleeding red. However, there are always some who are unfazed by the ups and downs in the market and are holding onto some of their favourite Crypto assets. I also hold small quantities of many crypto assets. I realised that much like keeping money in banks, I could lend my crypto holdings to…

I tried the new Instant INR Deposit on Bitbns and it did not Disappoint

Bitbns exchange announced INR 2.0, aka instant INR deposit service.  P2P INR deposits are time consuming as user has to wait for the other person to confirm they’ve received the money. Bitbns is removing the waiting period.  Bitbns confirms deposits immediately, as long as the amount is less than 80% of your net worth (INR value of your total holdings.) We test the instant deposit system.  Buying and selling cryptocurrency…

Scam Alert: Scammer targets Bitbns user; Steals 63000 INR

A user lost 63000 INR (~900 USD) fiat, when his account was hacked by a serial scammer on an Indian Exchange. The other user, whose account was used to steal the funds had no idea even his account was hacked and lost crypto worth INR 13000. This happened with a Peer to Peer INR transaction. The exchange intervened, but too late to recover all the funds. Total amount was INR…

As Zebpay Shuts Shop, Others Lay Out Offers to Lure users

It has been a few hours since Zebpay announced shutting down their exchange. Zebpay is one of the largest crypto exchanges in India which saw the volume dip drastically after RBI’s ring fencing on regulated entities.  Over the course of last six months since RBI’s controversial decision, Zebpay tried to pivot to various other solutions such as opening a crypto to crypto exchange, listing stable coin such as TUSD and…

How to Deposit and Withdraw INR on BitBns Exchange

Update: Bitbns has introduced a USDT-INR peer to peer trading system to facilitate INR deposits and withdrawals. They have also introduced Super Peer system for high volume transactions. Bitbns has kept INR trading active despite the RBI diktat. They haven’t even launched a P2P exchange or a crypto to crypto exchange. Their resilience have to be applauded and their walking dangerously close to the regulatory line while being so, should…

The Connection Between Bitbns and BidforX, an auction company

Few days back, we wrote about how the new INR deposit and Withdrawals on Bitbns Exchange via a company called BidforX works and how it may probably be risky for Bitbns in the current environment. Users can deposit INR to an auction site BidforX which can inturn generate vouchers that can be used to deposit INR on Bitbns exchange itself. I would also want to talk about the legality of this…

Voucher based INR Deposits on BitBns – Risky or Rewarding?

At the stroke of the midnight, err.. maybe an hour or so later, Bitbns announced a new way of depositing and withdrawing INR on their exchange using vouchers. I was reading the ‘tryst with destiny’ speech by Nehru when the announcement happened, sans the mighty opening. The Bitbns ‘Plan B’ for INR deposits now rely on a third party called BidforX. Before we get into how its done and what…

Reality Check: Is BitBns Faking Trade Volumes?

Today, an exchange Bitforex is under fire for faking trade volumes. An investigation by cryptoexchangerates have revealed that the exchange was faking volumes on huge scales and have accused CoinMarketCap (CMC) to be complicit to it. The exchange jumped from a ranking of 100 to within top 10 exchanges by volume recently, which prompted the investigation. Back on the home turf, it seems Bitbns is pulling off a similar game…

Bitbns becomes World’s First Crypto Exchange to launch EOS RAM Trading

Clive Humbly said Data is the new oil. In the rawest form, like oil, it is useless. But a refined version can be very valuable. To store the data you need space. That memory space on computers, we have come to know as RAM and ROM. There is a RAM on EOS network too. It is 64 gigabytes. RAM is the memory space on EOS network that can be used…