BuyUcoin Review 2021

BuyUcoin Review 2021

Is It Safe & Trustworthy?

BuyUcoin is a popular cryptocurrency exchange in India that has been in business since 2016. On-ramps, a crypto exchange based in Delhi, currently has over 5 million users and conducts over $500 million in digital asset transactions.

We’re on a quest to “To bring crypto to a Billion Indians” with over 550,000 clients vouching for the ease with which BuyUcoin makes digital asset trading possible.

BuyUcoin at a Glance

a. Minimum trade

If you’re a new user and don’t want to pay even the minimal amount to try our services, apply for a zero-fee trial. Right now, you only pay for buy or sell trade orders and the lowest possible exchange fees. When you add money to your BuyUcoin Wallets, there is no fee.

b.Trading and transaction fees

Sending and storing cryptocurrency in BuyUcoin Wallets is free. Your personal crypto wallet/exchange, on the other hand, may charge you a transaction fee for sending crypto to your BuyUcoin Wallet.

There are no hidden fees. We adhere to strict KYC and AML policies, but creating and maintaining a verified account at BuyUcoin is completely free of charge, with no subscription fees.

c. Number of cryptocurrencies

Crypto traders can invest in 130+ Crypto Pairs like BTC-INR, ETH-INR, DOGE-INR, YFI-INR, and much more. BuyUcoin is very quick to launch the trending coins and coins with a good rally with a notable bull run in the near term. As we always think about user’s security, BuyUcoin always has coin pairs with a good reputation.

d. Crypto-to-crypto trading pairs

“Trading pairs” or “cryptocurrency pairs” are assets in cryptocurrency that may be traded for each other on an exchange. Bitcoin/Litecoin (BTC/LTC) and Ethereum/Bitcoin Cash (ETH/BCH) are two examples. Trading pairs allow you to compare the prices of various cryptocurrencies.

Some cryptocurrencies can only be purchased with other cryptocurrencies, therefore knowledge of cryptocurrency pairs is required to diversify your crypto holdings beyond the most common coins; also, understanding crypto trading pairs allows crypto investors to profit from price discrepancies in assets.

e. Website transparency

While the cryptocurrency sector has been plagued by virtual coins and fraudulent exchanges, BuyUcoin has generally avoided criticism. BuyUcoin provides a highly user-friendly exchange, significantly lowering the barrier to entry for cryptocurrency investment, which is often viewed as complex and convoluted.

In BuyUcoin you can find all the options for trading on the home page where buying crypto is just a click away.

f. Mobile app

BuyUcoin mobile app is available on the play store and iOS store as this app is very compatible with both android and apple devices. With this mobile app, trading is made easier anywhere at any time.

g. Customer service

The BuyUcoin customer supports are available 24/7. The support can be availed through the sections such as contact us, mail us, create a support ticket, and through other queries for coin listing and media.

BuyUcoin features you should know

• Cryptocurrencies offered

Free cryptocurrencies are offered to new users while signing up for the first time and also to the users through some exclusive competitions and earning contests.

• Crypto trading costs and transaction fees

There is also an OTC desk at BuyUcoin. You can execute larger trades with speedy settlement using an OTC desk. Trades that you do not wish to perform in the open market due to pricing issues (also known as “slippage”).

• BuyUcoin Trading fees

A trade, as you know, requires at least two parties. Different names are given to these parties in crypto trading (not just party one and part two). The maker is the party whose order exists on the order book prior to the trade. The taker is the party who sees the maker’s order and says, “yes, that’s good enough for me, and I’m going to go ahead and accept that order.” Because makers supply liquidity to the exchange, they frequently receive a discount on trading fees as compared to takers.

BuyUcoin, on the other hand, charges the same fee to both takers and makers: 0.24 percent. Given that the global industry average trading fees have historically been around 0.25 percent for takers and somewhat less for makers, BuyUcoin’s trading fees are in line with the previous industry averages.

• BuyUcoin Withdrawal fees

Withdrawal fees vary depending on the crypto asset you withdraw, but they are often a fixed amount of the relevant crypto asset, rather than a % of the relevant crypto asset, as trading fees are. According to Cryptowisser.com’s empirical surveys, the industry average BTC-withdrawal fee is 0.0006 BTC.

Each BTC withdrawal costs 0.0012 BTC at BuyUcoin. This withdrawal cost is highly compatible with the industry norm, making it extremely competitive.

• Platform

BuyUcoin is Cryptocurrency exchanges platforms that allow users to trade cryptocurrencies for other assets such as digital and fiat currencies. In essence, BuyUcoin serves as a middleman between a buyer and a seller, earning money through commissions and transaction fees.

This platform has other options than crypto trading like SIP, Crypto labs for blogs, NFT Marketspace, Webinars, competitions, Affiliate Program, OTC Market, and News with new announcements.

• Security

BuyUcoin User Passwords are encrypted and hashed, and the salting algorithm ensures that even we cannot log in as you. For fraud prevention, all requests are encrypted with AES-256 and protected with CSRF Token Authentication.

BuyUcoin’s infrastructure for storing, decrypting, and transferring data is hosted on a separate server and does not share any credentials with BuyUcoin’s primary services (exchange, wallet, etc.).

Offline cold storage is a popular and widely used way of safeguarding cryptocurrency from theft or loss. We distribute cryptocurrency globally in secure vaults located in secure areas.

• Crypto wallet

BuyUcoin crypto wallet is a safe place to keep your cryptocurrency. There are numerous types of cryptocurrency wallets, but the most common are hosted wallets, non-custodial wallets, and hardware wallets. This is similar to a physical wallet.

The wallet, however, instead of storing physical currency, stores the cryptographic information required to access Bitcoin addresses and send transactions. Some Bitcoin wallets are also compatible with other cryptocurrencies.

BuyUcoin wallet contains the public and private keys needed to purchase Bitcoin or other cryptocurrencies, as well as providing digital signatures that authorize each transaction. These digital wallets can take the form of a gadget, software on an app, or both.

How the Exchange Works

Cryptocurrency exchanges are platforms that allow users to trade cryptocurrencies for other assets such as digital and fiat currencies. In essence, cryptocurrency exchanges serve as a middleman between a buyer and a seller, earning money through commissions and transaction fees.

BuyUcoin is a Centralized bitcoin exchange that serves as a go-between for a buyer and a seller. Centralized exchanges are more reliable because they are operated and controlled by a corporation. Approximately 99 percent of all cryptocurrency transactions are processed through centralized exchanges.

Centralized exchanges like BuyUcoin provide newbie investors with a familiar and pleasant environment for trading and investing in cryptocurrencies. Users of centralized exchanges may log into their accounts, examine their account balances, and make transactions through applications and websites, as opposed to crypto wallets and peer-to-peer transfers, which can be difficult.

When it comes to transactions and trading, centralized exchanges provide an extra layer of security and dependability. Consolidated exchanges provide greater comfort by simplifying the transaction through a developed, centralized platform.

BuyUcoin Signup & Login

1. Register or Signup and with your email id.
2. Do the KYC process. Keep Your Id Proof Handy, Enter Basic KYC Details (Aadhar card, Pan Card, Bank Details) And Get Your Account Verified.
3. Deposit your investment according to your wish. You can easily Deposit Crypto or INR into Your Digital Wallet BuyUcoin.
4. Buy/Sell the cryptocurrencies with just a single click. Have happy trading!

Is BuyUcoin right for you?

Yes, even if you are a beginner or a pro trader BuyUcoin is the right crypto exchange to go for as it is very user-friendly with high reliability. It has both EZ and real-time trading experience with charts and blogs to support you before trading. With its cashback and commission programs, it is more profitable to trade than other platforms.

Customer satisfaction review

Here are some of the reviews from BuyUcoin customers:

These guys have helped me several times with my business and have been like Superman! I would not recommend anyone more!

— Dinajpur Bangladesh

I am using Buyucoin for the past 8–9 months and the security features are way better than any other cryptocurrency trading platform with face id and fingerprint integration. When the market change rapidly there are always issues with dynamic pricing( happens a lot on Wazirx) and if you wait for few minutes u will get the exact price that the market is showing. Buyucoin is a customer-centric — payment platform so any loss in money can happens due to govt regulation.- — User from Delhi

I have been a BuyUcoin customer for more than 2 years now and I can say with surety that this exchange is trustworthy. Customer support is unlike any other exchange. You can call them any time and submit your query/grievance and they resolve it within a day. Their trading competitions are quite attractive.

— Pashwinsingh

I have been trading in crypto via BuyUcoin for almost 2 years. During the time Never have I ever faced a major issue with the app and exchange, The best part of using the BuyUcoin is the daily news digest about the cryptocurrency news world and the blog article on trending currency and news related to crypto. Now over 100 currency trading pairs are live on the platform to trade. When I sign up it took hardly around 7 -8 minutes to complete the process. — Shubham Aggarwal

BuyUcoin Review 2021 was originally published in BuyUcoin Talks on Medium, where people are continuing the conversation by highlighting and responding to this story.