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 The platform is easy to use, but the design is somewhat outdated.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.
- Web Interface
Many of BTCXIndia's security claims are ambiguous and/or hard to follow. For instance, they make claims like,"financial institution grade login" yet they don't have 2 factor authentication. Their"offline storage" storage and"front end and back end separation" have very little meaning without them providing more details. The security of this platform is unknown.
- 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.
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.
Deposit from bank account, Withdrawl funds to bank account
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.
Lenghty verification process