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BitBNS VS WazirX – Which is better?

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BitBNS and WazirX both are Indian companies and found in India. Most of the users are using either bitbns.com or wazirx.com for trading and the other things related to crypto. BitBNS and WazirX are the companies for the trading cryptocurrencies & altcoins like Bitcoin, Dogecoin, Matic, XRP, ETH, tether, etc, or the 50+ cryptocurrencies/altcoins. Let’s see below BitBNS VS WazirX[toc]

What do you mean by ‘Altcoin’ or ‘alt-coin’ or ‘alt coin’?

AltCoin stands for the ‘alternative coin’. Now the question may come to your mind that with whom alternative coin. So the answer is for Bitcoin. Bitcoin is very much famous in the world and the second/third most expensive digital currency in the world.

Now another question will be coming to your mind that ‘second most expensive cryptocurrency in the world? so which is the first expensive?’

The answer is the YFI or yearn.finance or ‘Yearn Finance’. This digital currency came into the market in 2020 and become the most expensive in the world. Even personally, I don’t know how it becomes, when ‘Yearn finance’ listed on bitbns.com then I got to know about this currency. Yearn finance is a ‘DeFi Gateway’.

Another coin is the ‘Wrapped Bitcoin’ or WBTC. The ‘Wrapped Bitcoin’ also traded on more price than Bitcoin or BTC in 2021.

WazirX VS bitbns (table view)

BitbnsWazirX
Founded in? (According to whois.com)November 2017December 2018
OwnershipSelf-ownerAcquired by Binance in 2019
App download on Google Play Store0.1+ million1+ million
Deposit fees (for INR)FreeIMPS, NEFT, RTGS: 5.9 INR per transfer
UPI: 4 INR per transfer
Withdrawl fees (for INR)YesYes
Based in?IndiaIndia
Linkbitbns.comwazirx.com

BitBNS VS WazirX [FAQ based]

Age, Ownership & popularity

Age

Bitbns founded in 2017 and located at Bangalore, Karnataka India.

WazirX founded in 2018 and located at Vashi (Mumbai), Maharashtra, India.

Ownership

Bitbns – bitbns.com running by a company named ‘Buyhatke Internet Private limited’. The company founded the platform in December 2017. The company or exchange or bitbns.com founded by Gaurav Dahake, Prashant Singh.

WazirX – The company was founded by Nischal Shetty, Sameer Mhatre, according to zaubacorp.com. In 2019, the company acquired by the giant Binance.

Popularity

Bitbns – Self-made platform and running by the respective owners. According to the ‘google play store’, Bitbns has only 0.1+ million downloads.

WazirX – Self-made platform and running by the respective owners but acquired by Binance. After the acquisition, it becomes more popular than bitbns. According to the ‘google play store’, WazirX has more than 1+ million downloads.

Fees related

Are bitbns and wazirx chargeable for deposit money into the wallet?

Bitbns is 100% free for depositing the money to its wallet but wazirx is chargeable to deposit the money to its wallet.

WazirX charges are –

  • IMPS, NEFT, RTGS: 5.9 INR per transfer
  • UPI: 4 INR per transfer

What is the minimum amount you must deposit into the wallet on both apps or websites?

Both the company has rules for depositing the minimum amount which is ₹100/-.

Can I deposit from any bank/UPI/internet banking or something else?

No, you can not deposit the money from any bank/UPI or internet banking. To deposit the money into the wallet, a user must have to provide bank details to the company. In case, you deposited the money so it will be refunded to the original source you would need to contact the support team, or else you will lose your money.

Are there any trading fees?

Yes, both the company charge a short amount of money when you buy or sell a cryptocurrency like Dogecoin, Bitcoin, ETH, etc. This is the main source of earning for an exchange or a broker.

Security-related

How much bitbns and WazirX are secured?

Both of the company uses the best security to prevent cheat / unauthorized login/transactions, etc. Both of the companies are using ‘Google Authenticator’ for instant OTP or we can say it is a 2FA security.

Bitbns uses an IP whitelist system through email to allow login from a different or new browser.

Unique features of Bitbns & WazirX

Bitbns – Bracket Orders is a unique feature providing by bitbns.com. Bracket order systems are available on both the buy and sell-side.

What is the bracket orders on bitbns?

Bracket Orders are a combination of three orders: Entry Order, Exit Order (Target Order), and Trailing Stop Loss Order. Using a Bracket Order, you can set all these three orders at once, and reduce the risk of missing out on a trading opportunity by defining the points of execution. As soon as Entry Order is executed, Exit Order and Trailing Stop are queued for execution.

According to the medium.com by bitbns.com

Wazirx – World’s first auto-matching P2P engine with high liquidity (Read here). However, it is also available on bitbns in different terms. WazirX is linked to Binance so the user can buy cryptocurrencies or altcoins on Binance through WazirX.

Recommendations

1+ million people can not be wrong but that’s not mean bitbns is not good. I personally using Bitbns since 2018 and no issue I found. Both the companies are very much active on Twitter and telegram. Even they respond you quickly if you post a tweet mentioning them. I am using WazirX and no issue I found there too.

TBH both the platforms are really good but Wazirx UI and navigation system are not very much impressive as compare to Bitbns. Another drawback is the fees, on deposit the Indian rupees into the WazirX wallet and there are no deposit charges or fees with bitbns.

Bitbns offering instant withdrawal to the bank with minimal charges. Those are

  • Upto ₹999: ₹4
  • Upto ₹24,999: ₹6
  • Upto ₹2,00,000: ₹9

WazirX offering instant withdrawal to the bank with the fixed charges. Those are

  • Instant withdrawals: 10 INR/withdrawal
  • NEFT withdrawals: 5 INR/withdrawal

So the above give reasons are forcing me to continue the use of bitbns instead of WazirX. You can create your free bitbns account here via clicking the link and get the free bitcoin worth Rs. 100/-.

Note: This article comparing bitbns and wazirx in many terms. This article does not recommend buying or selling any cryptocurrency. Keep in mind that this market is very volatile, in which there can be huge profit as well as heavy losses.

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