With the help of specialized crypto-exchange exchanges, you can trade in digital currency or exchange it for real money. In this article we will review one of such exchanges – Indacoin.
Overview of the Indacoin exchange, pros and cons
Indacoin is a platform for trade and exchange of crypto currency, which began its work in 2014. The central office of the company is located in London. The platform is available on two domains: indacoin.com and indacoin.io.
Indacoin provides an opportunity to purchase crypto currency for the currency via Visa and Master Card. On the exchange, you can buy more than two hundred crypto and tokens, the most popular of them – Bitcoin, Ripple, Monero, Dash. It is even possible to send crypto currency to other users, this function is available in the mobile application Indacoin Wallet.
The site interface is translated into 9 languages, including Russian, English, Spanish, Turkish, Arabic and others. The platform operates in more than 100 countries around the world, including the market of Latin and Central America. Indacoin does not work only in the US and China.
There is also an affiliate program on the stock exchange. You can place both a referral link and a graphical widget. At the initial stage, the user receives 0.5% from each referral operation. To raise the level to 1% you need to earn 10 dollars. When your earnings reach 50 USD, the percentage of deductions will rise to 2%. And at 100 USD – up to 3%.
The main advantages of the Indacoin exchange are:
- The interface is translated into many languages
- Online support chat with the user
- Low Commissions
- Possibility to purchase crypto currency with the help of bank cards
- Instant currency exchange
- Simple registration process
- Affiliate program availability
Among the shortcomings can be identified as follows:
- Long process of withdrawal of money
- The site works only with Bitcoin, Lightcoin and Ether, whereas in the mobile application more than 200 currencies are available
- The site often freezes
Registration and verification at Indacoin
To register for a quick purchase of crypto currency, registration on the platform is not required. Create an account is required only if you are a trader and are going to trade on the exchange. To register you need to fill in the appropriate form, specifying e-mail, captcha and click “Create”. A letter with a confirmation code will be sent to the e-mail. Click the link to activate your account. At the last step you need to enter a password, and come up with a unique nickname.
The verification process is also very simple. Your phone will receive the code that you need to enter on the site. If you do not have access to an online bank, you can call the bank and ask for the code that you specify in the payment description for Indacoin. In addition, the verification function is available in the mobile application.
How to use Indacoin?
On the site, both instant exchange and stock exchange trading of crypto-currencies for experienced traders are provided.
To buy a currency in the service exchanger, you need to fill out a special form. Choose the type of card – EURO or USD. Enter e-mail, phone number, date of birth, full name, specify the address of the crypto-currency purse. If there is no purse, tick the check mark that we want to create it on the Indacoin site.
There is a separate section for trade. There are three currency pairs available for traders here:
- BTC / USD;
- LTC / USD;
- ETH / USD.
The Exchange proposes to implement the Crypto-currency through pending orders and receive a bonus of 1% for this. In addition, on the site, it is possible to sell bitcoins by 15-20% more than on other crypto-exchange platforms. This function is especially advantageous for arbitrators. Here you can see the daily chart of each currency pair. Below are the orders of other users for the purchase and sale of crypto-currencies.
In addition to market offers and deferred orders, there is an opportunity on the site to create stop-loss orders, which will allow you to limit your losses.
How to replenish your wallet and withdraw funds?
Dollars can be brought to the exchange using bank cards with support for 3d secure – both credit and debit. To do this, you must specify the number and expiration date of the card, its CV code, as well as its full name, date of birth and mobile phone number. When you enter the amount to be added, a separate field will immediately show how much money will be credited. If a Russian user needs to replenish his account in rubles, in the process they are automatically converted into dollars.
The first transaction is limited to 200 USD, after 4 days the limit will increase to 500 USD and in a week on the third purchase you will be available 2 thousand dollars. Cumulatively in the first month you can spend no more than 10 thousand.
You can also withdraw money through the payment systems Webmoney and Yandex-money. But more recently, the withdrawal of dollars on the exchange has been canceled. Now you can display only the purchased crypto currency. To do this, select one of the tokens, specify the amount and enter the address of the purse of the recipient in the corresponding field.
The commission for the input and output of the crypto currency is 0%. When entering the fiat money, 8% of commission (at least $ 2) is withdrawn. The minimum entry amount is 30 USD, the maximum amount is 50 USD.
For the withdrawal of funds only 0.0001 Bitcoin is removed as a commission to the nodes to speed up the transfer.
Initially, the feedback on the exchange was only positive. But, now, when the withdrawal of funds in a fiat currency has become impossible, many users are very unhappy. In addition, the withdrawal of funds sometimes takes weeks. Thus, the site now works more like an exchanger.
A significant advantage of the trading platform is its security, which is provided by two-factor authentication. It can be configured in a mobile application.
Also, installing a mobile application, it is very convenient to contact the technical support service through your personal account. This ensures constant two-way communication. According to user feedback, support is available around the clock and responds quickly to any questions that arise from users.