Comparison of Coinstore vs Bitbns [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Coinstore vs Bitbns comparison!

Your expert: Alejandro Borja

coinstore

Coinstore

  • Threenvest valuation: 4/5
  • US legal: Yes
  • Security: High 4,9/5
  • Mobile App: Yes
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Investing risks losing your money

Your expert: Xavier Tarrasó

Bitbns

Bitbns

  • Threenvest valuation: 3,4/5
  • US legal: No
  • Security: High 4/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.20%

Earns

No

Customer service

3/5
0.25%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for high-volume trading.
3.8 – Competitive fees with some additional costs for specific services.

Level

0.20%
0.25%

Brief explanation

Coinstore has a competitive fee structure designed to accommodate various types of traders. For spot trading, Coinstore charges a 0.2% fee for both makers and takers. This rate is in line with industry standards and makes it an attractive option for traders looking for cost-effective trading solutions. When it comes to futures trading, the fees are slightly different. Makers are charged a 0.025% fee, while takers are charged a 0.06% fee. This fee structure incentivizes liquidity provision in the futures market, benefiting active traders who can take advantage of lower maker fees. While Coinstore does not support fiat currency deposits or withdrawals, it facilitates crypto-to-crypto transactions efficiently. Users should be aware that withdrawal fees can vary depending on the specific cryptocurrency being withdrawn, although detailed fee information is not prominently displayed on the website. Overall, Coinstore’s fee structure is straightforward and competitive, particularly for those engaged in frequent trading. The lack of fiat support and transparency in some fee details are areas where potential users should exercise caution and seek further information if needed.
Bitbns employs a straightforward fee structure that aligns well with industry standards, charging both takers and makers a uniform fee of 0.25%. This flat rate is fairly competitive when compared to global averages, ensuring that traders can engage in transactions without the worry of fluctuating fees based on their trading volume. This consistency in trading fees helps in maintaining transparency and allows traders to plan their trading activities without unexpected costs.

Coinstore

coinstore
Read coinstore review
  • Strong Security Measures: Coinstore implements robust security protocols to protect user assets. The exchange stores 70% of its funds in cold storage, uses AES-256 encryption for wallets and private keys, and requires multi-step verification for account access​​.
  • Reputation and Industry Recognition: Coinstore has received accolades within the industry, being named the best exchange in Asia by Crypto 306 and the best rising star by Crypto Expo. Such recognitions highlight the exchange’s commitment to excellence and innovation​​.
  • High Volume and User Base: Coinstore has a significant trading volume and user base. The exchange reports a 24-hour trading volume of around $144 million and supports over 1.1 million registered users across 175 countries, indicating its popularity and trustworthiness among traders​​.
  • Comprehensive Risk Control: The platform uses bank-level security measures, including real-time reconciliation and a comprehensive risk control system, to ensure the safety of user assets. This further enhances the reliability and trustworthiness of Coinstore​​.
  • Regulatory Compliance: As a Singapore-based company, Coinstore complies with the country’s stringent regulatory guidelines. This ensures that the exchange adheres to high standards of security and operational transparency​​.
  • Pros
  • Supports spot and futures trading.
  • Strong mobile app functionality.
  • Robust cold storage security measures.
  • Cons
  • No fiat currency support.
  • Limited advanced trading tools.

Read coinstore review

Bitbns

Bitbns
Read coinstore review
  • Security Methods: Bitbns places a strong emphasis on security, implementing multiple layers of protection including 2-factor authentication, cold storage of digital assets, and encrypted user data. These practices help in safeguarding users’ funds and personal information against unauthorized access and potential security threats.
  • Transparency: Bitbns is known for its transparent operational practices, including clear communication regarding its fee structure, trading processes, and the storage of users’ funds. This transparency helps build trust by ensuring that users have a clear understanding of how their investments are managed.
  • Customer Service: The exchange boasts a responsive and knowledgeable customer service team that is accessible through multiple channels. This responsiveness ensures that users’ queries and concerns are addressed promptly, enhancing user satisfaction and trust in the platform.
  • Reputation and Reviews: Since its inception in 2017, Bitbns has built a strong reputation within the Indian cryptocurrency market. Positive reviews from users and industry experts highlight the platform’s reliability, ease of use, and excellent service, contributing to its credibility
  • Number of Users: Bitbns supports a large and growing community of users, indicating a broad acceptance and trust in the platform. A large user base not only reflects the platform’s capability to meet trader needs but also enhances liquidity, which is crucial for the efficient execution of trades.
  • Pros
  • User-friendly interface for beginners.
  • Extensive security measures enhance trust.
  • Robust customer support system.
  • Cons
  • Relatively high trading fees.
  • Limited to Indian rupee transactions.

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
Buyhatke Internet Private Limited

Regulation

Not regulated
Not regulated

Year founded

2021
2017

Founder

Unknown
Gaurav Dahake

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Coinstore FEATURES Bitbns
Minimum trade amount details not specified but low barrier to entry.
Minimum Trade
Bitbns allows users to start trading with a low minimum trade amount, making it accessible for small investors.
0.2% fee for spot trading, and 0.025%-0.06% for futures .
Trading and Transaction Fees
Fees are competitive within the Indian market, but can be considered high internationally.
Supports 96 tokens and 94 trading pairs .
Number of Cryptocurrencies
Supports a diverse range of over 100 cryptocurrencies, catering to varied investor interests.
94 trading pairs available .
Crypto-to-Crypto Trading Pairs
Offers a solid selection of crypto-to-crypto trading pairs, enabling versatile trading strategies.
Lacks detailed information on some aspects, like withdrawal fees .
Website Transparency
The website provides clear information on fees, trading processes, and security measures.
Coinstore does not provide an exchange card for in-store purchases.
Credit/Debit Card
Bitbns lacks an exchange card feature, which could enhance user convenience and offer additional benefits for in-store purchases.
70% of assets stored in cold storage, AES-256 encryption used .
Storage Offering
Provides secure cold storage options, enhancing the safety of digital assets.
No dedicated staking program mentioned .
Staking and Rewards
Offers competitive staking options and rewards, encouraging user participation and investment.
Full-featured mobile app for Android and iOS available .
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Provides 24-hour chat service but lacks direct phone support .
Customer Service
Excellent customer service with multiple channels for support and quick response times.
Only supports crypto deposits and withdrawals, no fiat support .
Deposit and Withdraw
Efficient deposit and withdrawal processes, though options may be limited compared to international standards.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,9/5
High 4/5

Additional features

Margin trading, futures trading, staking, Coinstore Launchpad
Margin trading, futures trading, staking, SIP investment plans

Anonymity

Yes
No

Key points

Available cryptocurrencies

50+
90+

User-friendliness

Coinstore features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
Bitbns is known for its simple and user-friendly interface. It is designed to make cryptocurrency trading accessible to everyone, including those who are new to the market.

Value for money

Provides decent value for money with competitive fees and a wide range of supported cryptocurrencies, though it may not suit all traders.
Provides good value for money with low trading fees and a wide range of supported cryptocurrencies, making it an affordable choice for traders.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom
India, United States, United Kingdom, Canada, Australia

Best for

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.
Ideal for Indian investors and others looking for a cost-effective platform with low trading fees and a wide range of cryptocurrencies.

Base currencies available

USDT, BTC
INR, USDT

Account

Trading

Coinstore offers a variety of cryptocurrencies and competitive fees. It has a user-friendly interface but lower liquidity compared to major exchanges.
Bitbns is a good platform for Indian users, offering a wide range of cryptocurrencies and easy fiat integration. Its trading fees are competitive, but it lacks some advanced features and tools available on larger exchanges.

Deposit and withdrawal

Coinstore supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with low fees.
Bitbns offers bank transfers and cryptocurrency deposits. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.

Account opening process

Coinstore provides an easy account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.
Bitbns has a straightforward account opening process. Users need to submit personal information, verify their identity, and address. The process is efficient and usually takes less than a day, making it accessible for new users.

KYC required?

No
No

Customer Service

Coinstore provides support via email and live chat. The support team is responsive, but the lack of 24/7 availability can be a limitation for some users.
Bitbns provides support through email, live chat, and a help center. The response time is quick, and support is available 24/7, making it reliable for users in India and beyond.

Security

Coinstore offers strong security features with 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.
Bitbns employs comprehensive security measures, including 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I can confidently say that Coinstore is a solid choice for both new and experienced cryptocurrency traders. Its strong security measures, including cold storage and AES-256 encryption, ensure that your assets are well-protected. With a user-friendly interface and a comprehensive mobile app, Coinstore makes trading accessible and convenient. However, keep in mind that it doesn’t support fiat currency transactions and has limited customer service options. If these aspects aren’t deal-breakers for you, Coinstore is a reliable platform worth considering for your crypto trading needs.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I recommend Bitbns for traders in India seeking a user-friendly and secure platform to dive into cryptocurrency trading. The exchange excels in transparency, customer service, and a robust mobile experience, making it highly suitable for both beginners and seasoned traders. However, potential users should consider the higher trading fees and limited international accessibility when deciding if Bitbns meets their trading needs.

View all comparisons against Coinstore

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Coinstore and Bitbns