This Indacoin review will show why this exchange is one of the easiest to buy and sell bitcoins online. It has low verification requirements, however, the fees are not the lowest.
IndaCoin is a good option for anyone willing to buy Bitcoin and Ethereum in a hassle free experience. But is it worth it? Let’s analyze all the main aspects using this exchange below.
IndaCoin was founded in 2013 and is a cryptocurrency exchange based in London, United Kingdom. The company firstly started as a bitcoin exchange but now also offers the possibility of buying other digital currencies, like Ethereum and Litecoin.
Since most exchanges require a lot of verification documents, IndaCoin is one of the best options for anyone willing to Bitcoin and other digital currencies with low verification requirements.
In this IndaCoin review we will cover all the main aspects regarding this exchange, including its positive and negative aspects.
IndaCoin – Payment Methods
When you are choosing a Bitcoin exchange, one of the most important factors is the payment options that the company accept. While some users prefer using a bank account, others prefer using credit cards. In many cases, your options are limited depending on your country of residence.
Currently, IndaCoin accepts payments made in Euros (EUR) and US Dollars (USD) for the purchase of Bitcoins.
IndaCoin – Fees
Another of the key aspects of buying bitcoin or any other digital currencies are the fees involved in the transaction. One has to be extremely careful to understand how an exchange fee structure and the bitcoin price you will be paying for.
You can deposit and withdraw bitcoins on IndaCoin with 0% fees, which is certainly a good factor. However, most buyers are interested in knowing the fees for using credit and debit cards.
The fees for buying Bitcoins at IndaCoin with credit or debit cards are of 4%. This rate is comparable to many other exchanges selling bitcoins with credit or debit cards. Below we have the IndaCoin fee structure:
IndaCoin – Other Cryptocurrencies
I have found this rather confusing at IndaCoin, and contact their support to clarify this situation. At the time of this article writing, IndaCoin only sells bitcoins. However, from their website it seems pretty clear that they will be anytime soon working with Ethereum and Litecoin.
IndaCoin also told me that you can exchange other currencies once you have bought bitcoins at their partner website Changelly.
IndaCoin – Card Verification
If you are concern with identify theft, most bitcoin deposit methods should be considered carefully, as they usually require different verification methods.
One of the main advantages of buying bitcois at IndaCoin is their verification system. While most digital currency exchanges require you to send a Photo ID, a selfie and also a proof of residency, IndaCoin does not require none of this documents.
The verification process at IndaCoin is done directly with your card, not requiring any photos or scans. To verify your card you will need to check your bank card statement for the 3 digits next to your IndaCoin payment. You will also receive a call with a code to verify your card.
That is everything you need to verify your card at IndaCoin. Then, there are some limits, which are lifted as you purchase more bitcoins from IndaCoin.
How to Open an Account at IndaCoin
IndaCoin account opening process is one of the easiest in the bitcoin exchange market. Since its verification process is simpler than most exchanges, IndaCoin is also one of the fastest ways to buy bitcoin.
All you will need to open an account and get Bitcoins at IndaCoin is an email, a telephone number a credit or debit card. You can even buy bitcoins from bitcoin without opening an account, but I recommend opening an account to track your transaction more safely.
IndaCoin – Support
IndaCoin support is definitely a strong point on their services as a bitcoin exchange. They have a support email, a telephone number, a live chat and a ticket system.
From my experience they reply pretty quickly, which is certainly important, especially if you are planning to buy a lot of Bitcoins.
- Fast registration.
- Simplified verification process.
- Available for most countries to buy bitcoins with credit card.
- Bank deposit or withdrawals are not possible.
- Currently only available for Bitcoins.
- Bitcoin prices are considerably higher than in other exchanges
IndaCoin Verdict – Legit or Scam?
After analyzing our IndaCoin review we can arrive at a conclusion about this exchange. IndaCoin is certainly a legit company, registered in the UK and with an overall good reputation as a bitcoin exchange. It is certainly not a scam.
However, IndaCoin bitcoin prices are slightly above the market, and you should consider this before making a purchase. Their verification process is among the simplest in all bitcoin exchanges, and it might be a good idea if you want to get bitcoins quickly without sending documents to the exchange.