BTC Markets India

BTC Markets India

BTC Markets India
In Social Media:
Intuitive Ease of use,  Enough secure,  Anonymously trading

BTCXIndia is an India-based Ripple-only trading platform. It allows Indian buyers and sellers to buy and sell Ripple tokens in exchange for Indian rupees. Their security protocols are ambiguous and confusing. Their platform is not well developed.

BTCXIndia is restricted to Indian nationals who are interested in buying and selling XRP. The platform is easy to use, but the design is somewhat outdated. The verification process for new users is lengthy due to strict KYC regulations and mandatory proof of ID. Right now, registration and verification takes a minimum of two weeks. Support is reachable during business hours by email and phone.

Language Support

  • English

Country Support

  • India

Platforms Systems

  • Web Interface

BTC Markets India security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.

Summary:

2 Factor Authentication
No
Funds Insured
Funds are not insured
Private Keys Stored On
Exchange platform
Storage Type
They claim to hold user funds in cold storage but are not specific about it.

Security Features:

  • SSL
  • Bank Level Encryption

Legal Registration or Compliance:

  • KYC/AML Compliant

The BTCXIndia exchange is managed by Hyderabad-based S Capital Solutions Pvt. Ltd. which was started in 2013 by commodity markets trader Kamesh Mupparaju. Before it temporarily suspended trading in April 2015, BTCXIndia enabled trading for Bitcoin and Ethereum. The exchange was shut down because their bank no longer allowed them to operate despite good performance.

Summary:

BTCXIndia is an important crypto token marketplace for Indian nationals interested in trading Ripple coins.The verification process is strict and takes a long time, the trading platform could be improved, and their customer support system is not the best. Their security protocols are unknown.

Ease of use
Intuitive
Transaction Fees
0.8% +
Deposit/Withdrawal Fee
0.8% +
Deposit/Withdrawal Fee c For Bank Transfer
0.8% -1.0
Deposit/Withdrawal Fee For Credit Card
N/A
Deposit/Withdrawal Fee Charged For 3rd party Payments
N/A
Anonymous Trading
Yes

Deposit/Withdrawal Options:

Deposit from bank account, Withdrawl funds to bank account

Functionality:

BTCXIndia enables users to follow orders in real time through live order book, quick withdrawals with same day access to funds requested during banking hours, free transfers and trading fees of just 1% including taxes. Users can hold only one wallet with BTCXIndia, the minimum amount for an INR deposit is 10000 rupees and no credit or debit cards are accepted.

Most common
customer complaint:

Lenghty verification process