Indacoin: Cryptocurrency Exchange To Buy Bitcoin With Cards?
What Is Indacoin?
Indacoin is a new Bitcoin Exchange Platform that is being looked at by a significant amount of people. The reason is because day by day more and more people are thinking of buying Bitcoins or other cryptocurrencies. They want the easiest way possible to make their exchanges. Basically, people do not want to wait for a wire transfer or to be verified, having to go through lengthy ID protocols. Indacoin promises to change the way that these exchanges work.
How Does Indacoin Buy Bitcoin With Cards Exchange Work?
The company was first established back in 2014 and has been in operations since apparently. The exchange only usually accepts major credit or debit cards. They must be 3D secure for them to be accepted on the exchange, they also accept Payza. And when you first go to buy your Bitcoins, you’ll need to fill out a special form for payments. Once that process has been completed, you’ll get a phone call with a personalized four-digit pin number that will allow you to complete the transaction.
Even though the process seams to be pretty straight forward when buying, there are some points you need consider:
Buying limits are ultra-strict. The first transaction is limited to only $100. After that, you much wait an additional four days before your limit goes to $200 and then another seven before it goes to $500.
Also, there are fees that are included in the exchange, so the rates are very high. An example on a BTC rate on Bitstamp was 1001.52, on Indacoin is was a whopping $1507.32. That means your paying as much as fifty percent more per transaction for what they call an easy exchange.
If you ask me, the exchange rate is incredibly high and in no way gives justification for the time you supposedly save. It does have anonymity, which could be useful for some. Anonymous transactions are possible through the use of a prepaid debit card and a Skype number that is temporary, because they need to verify your phone number. The number will be used again when you must be identified or to limit any purchases you are trying to make.
After your account is setup and approved, there is no need for verification in the future. As long as you use the same email each time, you’re fine. And there are more than a hundred countries globally that can be purchased through Indacoin.
The website dictates that a processing purchase can take as long as fifteen minutes, but in reality – several users have declared wait times as long as eight hours. Basically, don’t read too much into their promise of a speedy transfer. Support does seem to be on point however, appearing almost instantly when called upon through the chatbox on the website. Then again, other users have reported extended wait times on support as well.
Indacoin looks to be a legitimate exchange, but a very non-intelligent way to spend any money. It’s the highest exchange rate that I’ve seen on the market. Reviews have reported several people using the platform without any issues whatsoever. But others have experienced issues with the Indacoin platform across the board. It’s best to use this exchange only if there is no other option and it’s in the case of an emergency. This is simply because the outrageous rated on the exchange. Also, if you want to buy Bitcoin with no identity verification, the platform can be useful as well.