Cryptocurrencies are surging in popularity in India. According to recent statistics, more than 2,500 individuals invest in Bitcoin on a daily basis in India. Most of these purchases occur on Zebpay and Coinsecure, India’s two largest crypto exchanges.
The high popularity levels of Bitcoin and other cryptos, combined with the large tech industry in India, have created an environment in which new crypto wallets and exchanges pop up on a daily basis. Bitcoin India is one of the oldest crypto solutions to launch in India, and offers a wide range of services.
The Bitcoin India platform appears to be legitimate, but user reviews around the net have provided conflicting information regarding whether it is safe to use or not. The platform is primarily geared toward managed wallet solutions, but does offer a number of mining pool services and trading options.
In this article, we’ll take a look at the Bitcoin India platform and find out what it offers to help you determine whether it’s the right wallet solution for you.
What Is Bitcoin India?
Bitcoin India is a fairly straightforward Bitcoin and digital currency trading and storage platform. The primary focus of the Bitcoin India platform appears to be convenient web and mobile based wallet solutions. Importantly, Bitcoin India offers direct compatibility with most Indian banks, and makes it possible to purchase cryptos directly with INR.
Is Bitcoin India Legitimate?
Bitcoin India makes the claim that it is the oldest Bitcoin exchange in India, which appears to be true. The Bitcoin India domain was registered in 2014, one year before long-running trade platform Zebpay. Users around the internet, however, have expressed some concerns regarding the authenticity of the site and the way in which it is operated.
Several BitcoinTalk users have observed that Bitcoin India offers fiat to crypto trading pairs at a far higher price than advertised, and state that the platform suffers from poor support. Other users have observed that ETH transactions are subject to unexplained delays and disappearing transactions, which are then corrected with funds from unknown addresses.
While the Bitcoin Talk platform does appear to operate on an authentic basis and does provide users with a reliable method of storing and trading crypto, it’s best to carefully consider whether you want to store a significant amount of crypto in a wallet that is outside of your control.
Bitcoin India Features
Bitcoin India offers a smartphone wallet app for both iOS and Android, as well as a web based wallet. The platform also offers merchants the ability to take payment for goods and services with Bitcoin via the Bitcoin India app.
Bitcoin India also offers an instant coins swap function that allows for the instantaneous conversion of Bitcoin to Eth or visa versa, as well as a fully-featured exchange that offers a diverse set of trading pairs. Lastly Bitcoin India offers a Mining pool that delivers payouts in PPLNS, as well as a priority premium membership club that delivers additional benefits.
Bitcoin India Verdict
The Bitcoin India platform is one of the oldest crypto exchanges in India, and offers a diverse range of services. In light of user comments regarding the inconsistency of Bitcoin India with regards to deposits, however, it may be best to remain wary of storing large amounts of cryptocurrency on it.