BitBuddy Review: Trading Experience, Features & Fees - Coinspectus

BitBuddy Review: India's Safest Bitcoin Marketplace
Bitbuddy is an online p2p marketplace for buying & selling Bitcoins. It allows buyers & sellers to post ads on its marketplace & help users in making bitcoin investments conveniently.

With the recent legalization of investing in crypto in India, more and more investors are eyeing towards Bitcoin & other altcoins to invest with their local currency INR, to avoid hefty conversion fees.

And that's where Bitbuddy comes into existence. In this post, I will review the platform's features, ease of use, fees & security.

So without further ado, let's get started!

Bitbuddy Review: Buy Bitcoin In India

Bitbuddy is a legal crypto marketplace based in Jaipur, India. The company is a member of Internet & Mobile Association of India (IAMAI) which is a huge advantage against their competitors and a major plus point for building trust among the users.

The company is led by a highly experienced team that include Ashish Agarwal, Manu Saxena & Vishal Gupta.

Team Behind BitBuddy

Bitbuddy Pros:

Or I would say the summary of the features:

1. User-friendly interface for beginners.

2. Ability to process thousands of KYCs faster (Mine was processed just in 6 hours)

3. Bitcoins are stored on highly secured cold vaults often called the multi signature wallets.

4. Option To buy & sell Bitcoin instantly with the bank account.

5. Zero trading fees for the first two months.

BitBuddy Cons:

There are few things that are still needed to be improved:

1. They don't have the web application and thus does not offer service on the website.

2. Unlike Paxful, you can not define the % above or below the market price of Bitcoin to buy and sell. And thus you'll have to manually track the price and set your profit margins which could be a severe pain for any day trader.

3. They claim to offer Google Pay as a payment method however we could not find any such payment option on their app.

Bitbuddy Registration & Login:

Creating an account on BitBuddy is a simple process which only takes few minutes. To register your account follow the below shared steps:

1. Visit Bitbuddy's official website here.

2. Download their official mobile application via Google Play store.

3. After downloading the app, click on the sign up button.

4. Enter an email address.

5. Agree with their TnCs & click sign up.

6. Submit your KYC documents & set a 4 digit pin to access the application.

7. Voila you're good to go.

Bitbuddy Fees:

Trading Fees:

Initially when you register on the platform the trading fees in zero for the first two months however after that period of time they charges a fixed fee of 0.25% to both buyers & sellers.

Withdrawal Fees:

The withdrawal fees on BitBuddy mobile app is dynamic and depends upon the network congestion. Generally it is 0.0002 - 0.0005 BTC per withdrawal which is quite competitive to the global standard fee.

Frequently Asked Questions:

Q. Does Bitbuddy Requires The KYC Verification To Trade Bitcoins?

Yes, there are KYC procedures to buy & sell Bitcoin. You'll need to upload your personal identification documents to access the application features.

Q. Does Bitbuddy Have A Mobile Application?

Yes, Bitbuddy offers the trading application for both the Android users and iOS users. You can find the app on the google play store & iOS app store.

Q. Is Bitbuddy Legal In India?

Yes, It is a legal company and registered in Jaipur, India. Indeed, it is a member of Internet & Mobile Association of India.

Q. Is Bitbuddy Safe To Trade Bitcoin?

Yes, Bitbuddy is a safe & convenient platform to buy & sell bitcoin. The payments are settled instantly in your bank account and Bitcoin wallet.

Conclusion:

To summarize our review, Bitbuddy has made it easier for Indian Investors to buy & sell bitcoin in their local currency and aims to offer their services to the global investors in near future.

The platform is designed to cater to beginners. Their support team is helpful and spontaneous due to which I consider it a safest platform to buy & sell bitcoin in India.

If you may want to try your hands on their application visit here and do share your opinion in the comments below.

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