Indacoin Cryptocurrency Exchange Review

Exchanges
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Indacoin History

Indacoin started its operations in 2014. Its full legal name is Indacoin Limited. The main office is located in London (United Kingdom).

The benegit of the service is that it is possible to buy virtual currency for real money using MasterCard and Visa bank cards. For many users, this is the most acceptable way to buy digital coins.

The exchanger works with many tokens and coins. In total, there are more than 200 denominations. The most popular are Bitcoin, Ripple, Dash and Monero. Among the usual features there is one with which a purchased coin can be sent to another customer. To do this, you need to go to IndaCoin mobile app and enter the cell phone number of the person to whom you want to send the currency.

The service offers users a referral program: the customer receives 0.5% of each trading operation of his/her partner.

When you have $100 on your account from referrals, the percentage of remuneration will increase up to 3%.

Registration and verification on the site

For a regular visitor who buys or exchanges fiat currency for crypto, registration is not necessary. Only traders working in the system need to pass it. When creating a personal account, an email address and the correct display of the suggested captcha are required.

After that, a confirmation email will be sent to the user’s email. There you will specify your login and password.

Verification is also simple: on the site you must enter the numeric value of the code, which will be sent to your phone. There are cases when you can not go online. To do this, just call the service, they will tell you the necessary data. Verification can also be done through the Android application.

Fund Deposit

You can deposit money to your account using bank cards. It is necessary that they support 3d-secure.

In the input page specify the data:

  1. Name
  2. Date of birth
  3. Phone number
  4. Card number
  5. Amount

You can enter in any currency, because the service immediately recalculates in dollars.

The first two deposit operations are limited.

They are small amounts, namely $200 and $500. Starting from the third deposit, the amount of depositing money can already be 2,000 dollars. The minimum deposit amount – $30.

How to trade on Indacoin

The company works with three crypto-assets – Bitcoin, Ethereum and Litecoin. If you install a specialized app, the number of available coins will increase and will be more than 200 items.

Also, the program will help you to pass the identification.

All two hundred currency assets are presented for exchange and trading. You will be asked for your card and cryptocurrency wallet details when making a purchase.

If you don’t have a wallet for digital currency, they will help you create one using Wallet.

Trading pairs:

  • BTC/USD;
  • LTC/USD;
  • ETH/USD.

The liquidity of the exchanger is high and based on the work of market-makers.

Indacoin mobile app

The app is available for both Android and iOS. With it, customers can use the site wherever they are.

The app has a deposit option. Now the developers are creating a portal for money withdrawal. At the moment, the necessary extension for the Google Chrome browser has already been created.

The trading process here is as simple as possible and looks like a chain of consecutive clicks.

Withdrawal of funds

Withdrawals are currently only available in digital currencies, namely BTC, ETH, LTC. The creators are working on the return of the withdrawal in fiat.

Withdrawals can be made using VISA and MasterCard. The minimum withdrawal is $50.

Fees

Fees are charged only during exchange transactions and exchange rate differences. 0.0001 Bitcoin is deducted to speed up transfers.

No fees are charged for deposit/withdrawal operations.

Trading volumes

There is no information about the trading volumes of the service at the moment.

Security of work on the site

Two-factor identity authentication is done in the mobile app. On the site itself you can not even go through registration, then you will be given access to minimal features in the work. For such operations a one-time code will be sent via SMS. With it you will be able to enter into a personal account.

The developers have established a notification system for the client. It tells the user from what IP-address logged into the account.

Technical support

With a mobile app, communication with technical support is no problem and takes place through the user’s account. Thus, a two-way communication “client-support” is achieved. Technical support is available around the clock.

Questions are answered quickly and professionally, even if they are of different complexity.

Pros
  • the site presents several language versions of the interface
  • it is possible not to register
  • currencies are automatically converted to dollars when depositing
  • commissions are low when working on the site, and there are no fees when depositing or withdrawing funds
  • you can buy digital currencies using plastic bank cards
  • there is a referral program, where there is a growth of bonus commissions
  • security at a high level
  • technical support works 24/7
  • availability of a mobile application for smartphones and iPhones
Cons
  • withdrawal of traditional money in real time is not yet available
  • withdrawal of funds from the exchanger is a long process
  • the site often freezes
  • only Bitcoin, Ethereum and Litecoin coins can be used on the platform
  • there are few trading pairs
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