Indacoin cryptocurrency exchange: review, guide, recommendations

The narrow focus of cryptocurrency projects is becoming a thing of the past.

New solutions cover more and more diverse processes, allowing one service to solve a whole list of tasks, which not only speeds up the overall result, but also makes it cheaper and more convenient for the end consumer.

As part of this review, we will look at the Indacoin cryptocurrency exchange , which provides a whole range of services related to the circulation of coins.

General information about Indacoin

The project was created in 2014 and from the very beginning was positioned as a universal platform supporting all major cryptocurrency operations.

The main advantage at the time of opening was support for card transfers when conducting crypto-exchange operations. Indacoin is registered in the UK and has a representative office in London.

In addition to transactions for buying/selling and instantly exchanging cryptocurrencies among themselves and for fiat money, Indacoin has its own convenient wallet.

The crypto exchange supports 9 languages ​​and is aimed at the widest possible audience.

There are more than 200 coins and tokens circulating on Indacoin. All exchange services are available through mobile applications for Android and iOS. It has a window for working with the support service, which is very efficient and competent. There is also a built-in multi-currency wallet and full access to exchange transactions. By the way, working with various payment services that accept Bitcoin as a means of payment is noticeably simplified, since, using the principle of a telephone book, complex static addresses of BTC wallets can be signed and payments can be sent by name.

To simplify operations, the desktop version of the service includes an extension for the Chrome browser, which allows you to perform all operations in a few clicks and has virtually unlimited functionality compared to working through the website.

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IndaCoin reviews

There are quite a lot of different reviews about this exchanger on the Internet. Unfortunately, most of them are negative. The complaints are about the very high exchange rates and they are not worth the time saved by skipping the registration process that needs to be completed on other platforms.

Also, many users complain about the long transaction process. Payments may be delayed without explanation and money may be frozen or not appear in transactions at all. When transferring money from the card to the IndaCoin wallet, you may not receive it.

In addition, many users are unhappy that the company is asking for a selfie with a passport. Indeed, giving such data about yourself is risky, because it is unknown how the personal data of platform users will be stored and used.

Registration on the exchange

Before considering the registration process, it is necessary to clarify the fact that registration is not required to purchase coins through a bank card.

The money transfer takes place in p2p format, and the cryptocurrency arrives at the specified wallet address or generated within the exchange itself.

To create a wallet in Indacoin Wallet, you must tick the appropriate box during the process of drawing up a transfer request.

A crypto wallet, like a trading platform, requires pre-registration to operate, which takes place in several stages.

After entering the data, you will receive an email with a confirmation link.

Confirmation opens the way to entering a password and a unique name within the network, which will be used for partial identification.

After filling out the form, an account is created, which you can immediately log in to get started.

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How to top up your account?

To top up your account, click on the Send/Request button

The account can be topped up in cryptocurrency, as well as using a bank card.

Copy the wallet address of the same Bitcoin that is assigned to you on the site, and then use it to top up your balance. It is to this address that you send bitcoins or satoshiki either from your cold or online wallet, or use an exchanger for this purpose.

In total, the account can be topped up in Bitcoin, Litecoin and Ethereum. Minimum entry is $30.

The transaction will be confirmed within 24 hours, sometimes even earlier.

Verification

In the traditional format, which requires the provision of personal information and various documents to obtain the status of a full user, there is no verification on Indacoin.

Cryptocurrency transactions are carried out completely anonymously, and information about the actions of payment card holders is obtained by automatically submitting an application for the current card status.

Payment systems VISA and MasterCard support a 3D secure service, which involves blocking the card in any situation on the part of the user. That is, if the card has been copied or stolen, it is blocked at the bank or payment system level at the request of the holder. Any illegal transactions are subject to cancellation with compensation for lost funds. Since the Indacoin crypto exchange only supports these payment systems, initial verification occurs during the first transaction by sending a verification code to the phone number associated with the card. Fraud is eliminated by gradually increasing transaction limits, which start at $15 in the first 4 days and end at $500 in the first month.

This approach makes all efforts of fraudsters to launder stolen money through cryptocurrency transactions pointless.

After entering the 4-digit code sent by SMS, you must enter the 3-digit code that comes along with the operation to symbolically write off a certain amount from the balance, which will be immediately returned.

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Registration in Indacoin

To register on the exchange, you do not need to complete complex tasks. In particular, you should simply enter your email. Next, you will receive a special activation link, after which you will have to enter your password and login (you can come up with it yourself).

Verification on the Indacoin cryptocurrency exchange is also simple: you just need to indicate your mobile phone and wait for the 4-digit code. This is the entire process of confirming your personal data.

Types of cryptocurrency:

• Bitcoin;
• Ethereum;
• Litecoin.

Account replenishment and withdrawal

Despite the fact that the exchange supports more than 200 cryptocurrencies and tokens, the main operations are carried out in three coins: BTC, LTC, ETH.

USD input and output was disabled at the time of writing, but the algorithm is no different from making payments online and requires the card number, expiration date, CVV code, as well as full name, date of birth and phone number.

Cryptocurrency deposit/withdrawal transactions are not subject to commission fees. There are no restrictions on deposit/withdrawal volumes in crypto. For fiat funds, deposits are subject to an 8% commission (at least $2), and withdrawals are made without commission. The minimum replenishment amount is $30, the maximum is according to the current limit for each specific account.

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Review and reviews of the Indacoin cryptocurrency exchange

The efficiency of cryptocurrency is growing. Many investors began to pay more attention to this. Why? Huge prospects are opening up for those who have begun to understand the feasibility of working with digital coins. And on the Internet there is already a whole list of cryptocurrency exchanges that offer traders a professional approach. Today we will talk about the Indacoin exchange, its advantages and disadvantages.

Indacoin is a cryptocurrency exchange. Online platform for buying/selling/exchanging cryptocurrency. Started working in 2014. The company's head office is located in London.

Go to the exchange

Today, the Indacoin exchange offers its every client to buy cryptocurrency using bank cards of international formats: MasterCard and VISA.

Official site

The developers did a very good job on the Internet resource. The interface is user-friendly and the design is attractive. The main thing is that every new user will understand the management of the site in a couple of clicks.

Website translation languages:

• Russian;
• English;
• Turkish;
• Spanish;
• Arab.

It is worth noting that the owners of Indacoin are very seriously promoting their project on the social networks Twitter and Facebook.

Registration on the Indacoin exchange

If an investor is simply trying to buy cryptocurrency, registration is not required. You should create an account only if the trader will trade on the stock exchange.

There is nothing complicated, registration takes place in a couple of clicks. In order to create an account, you just need to enter your email and captcha. Next, you need to visit your email and follow the link (activation for a new user). All that remains is to take the last step: enter a password and come up with a nickname.

Verification is even easier. We simply receive the 4th code on our mobile phone and enter it in a special form.

Indacoin mobile app

You can work on the Indacoin cryptocurrency exchange using your smartphone or tablet PC. The developers have created a version for Android. It is very convenient to buy any types of cryptocurrency on the mobile platform, paying by card.

Today, the Indacoin exchange offers clients to work with the following coins:

• Bitcoin;
• Ethereum;
• Litecoin.

You can top up your account on the exchange using credit and debit cards.

If a Russian-speaking user needs to top up their account in rubles, they will be automatically converted into dollars during the process.

Important

The commission for depositing/withdrawing cryptocurrency is 0%.

The minimum amount to deposit money on the exchange is $30; The maximum withdrawal size is $50.

Trading on the Indacoin exchange

At the moment, clients can exchange or trade cryptocurrency.

How to buy cryptocurrency in an exchanger? To do this you will need to fill out a form. First, select the type of card: dollar or euro. There we also indicate the email address, full name, date of birth and online cryptocurrency wallet address. Missing wallet? So we put a tick so that one is automatically created on the Indacoin exchange.

Trading on Indacoin is in a separate section. Traders can trade 3 currency pairs:

• LTC/USD;
• BTC/USD;
• ETH/USD.

Cryptocurrency is also sold using pending orders. For these, the trader receives a bonus of 1%.

A particularly advantageous feature is the sale of Bitcoins at 15% - 20% higher than on other exchanges. A very convenient function, especially for affiliate marketers.

The Indacoin cryptocurrency exchange constantly maintains a high level of liquidity. For this purpose, special robots (so-called market makers) are actively working. If necessary, they provide the necessary trading volume at the exchange rate.

Indacoin Security

At the moment, the Indacoin exchange has a very high level of security. Occurs through authentication (two-factor). To set this up, you will need to install a mobile application.

Review of the Indacoin exchange

The online platform offers very good conditions for trading cryptocurrency. There are enough trading tools, there is an educational online resource and much more.

Advantages of Indacoin:

• translation of the interface into various languages;
• availability of online chat;
• the fastest possible process for purchasing cryptocurrency;
• low commission.

Disadvantages of Indacoin:

• Recently, there has been no withdrawal of fiat money to Indacoin (the developers promise to return this function);
• withdrawal is carried out within several days;
• few types of cryptocurrencies (Bitcoin, Litecoin, Ethereum).

Overall, Indacoin's disadvantages are minor.

If you have a desire to start investing and trading cryptocurrency, pay attention to the Indacoin cryptocurrency exchange, reviews of which from real clients are almost all positive. There is practically nothing to criticize the project for, which increases its attractiveness.

Start trading digital coins right now, it is a very powerful trend!

Go to the exchange

Trade and exchange

We mentioned that the purchase of cryptocurrencies for fiat money in the format of an exchange machine occurs without the need to register.

It is noteworthy that for fiat money you can purchase all tokens and cryptocurrencies traded on the site.

After selecting the amount, the required token, specifying the mail and wallet, you are redirected to the page for specifying information from the card.

The card transfer takes place instantly, the cryptocurrency is credited to the account after the second confirmation by the network.

In the recent past, Indacoin has supported trading of three pairs: BTC/USD, LTC/USD and ETH/USD. At the time of writing, the trading pair working with orders remained only BTC/USD, and the following message was attached to the personal account:

"Dear Clients. Recently, we have limited the deposit of funds in USD, and also suspended trading in pairs with fiat money. We strongly ask all participants to exchange fiat money present in their accounts for cryptocurrencies and, if necessary, withdraw from the system. The Indacoin project will be transformed from a traditional exchange into a service where each user will be able to quickly purchase cryptocurrencies from VISA and Master Cards, as well as use our wallet for online settlements.”

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How to withdraw money?

The withdrawal process is also very simple and as clear as possible.

We click on the same button as when replenishing, but now we switch to Send.

Previously, it was possible to withdraw fiat funds from the exchange. But then this option (as of May 2022) was disabled and money can only be withdrawn in the above-mentioned cryptocurrencies, as well as to the electronic payment systems Yandex.Money and WebMoney (the option is not yet available).

To withdraw cryptocurrency, select the desired cryptocurrency in the Currency line.

Then enter the desired amount of funds to withdraw in the Amount field. Well, then indicate in the line below the address of the crypto wallet for withdrawal.

And then you can press the lowest button. The maximum withdrawal limit is only $50.

affiliate program

It is implemented according to standard rules and provides rewards for the actions of each attracted user.

Attraction is possible through an affiliate link, as well as using a graphic widget.

The reward is 0.5% of the transaction volume.

The percentage will increase with the growth of the total amount of profit received within the affiliate program.

Over $10 the percentage will be 1%, over $50 2%, over $100 - 3%.

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Safety

This issue receives sufficient attention, as confirmed by 500,000 active users of Indacoin services.

In your personal account there are several options for maximum account protection from intrusion:

• Two-factor authentication. Works only with desktop login in the system;
• Notification about every entry. Convenient if the account is visited periodically or only from one computer;
• All support messages are duplicated by email.

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Advantages and disadvantages

We mentioned that the Indacoin team decided to move away from trading and concentrate on conducting transactions for the purchase of cryptocurrencies and tokens by card transfers, as well as on conducting mutual transactions using smartphones.

The project is controversial, moreover, it is currently under transformation, so some inconveniences and problems may arise for users and new clients.

PROS:

• Multilingual. In addition to Russian, languages ​​exotic for the industry are also supported, for example, Turkish and Arabic. Notably, there are no Asian languages;
• Prompt and knowledgeable online chat that helps you quickly solve any problems;
• Quick receipt of cryptocurrency to your account;
• The cryptocurrency exchange rate is significantly different in a favorable direction;
• Convenience and security of the Indacoin Wallet;

CONS:

• Disabling the possibility of reverse exchange of cryptocurrencies for fiat. This, as we figured out, is one of the steps towards repurposing;
• Transition from a multi-service project that included an exchange to a one-way exchanger.
• Incorrect operation of the site. Within the transform, display and some transitions do not work correctly.

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Reviews

Regarding the security and reliability of the Indacoin company, there is no negativity on the network. Many people complain about the long withdrawal of money, especially during the period when withdrawal of fiat currencies was available.

At the same time, payments were made within the framework of the regulations with rare delays and everything was paid without deception.

Otherwise, the complaints concern the disabling of the trading function and the concentration on the exclusive, so far one-sided exchange of fiat money for a wide range of cryptocurrencies and the development of a universal wallet.

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What about security?

The main point that is available on 99% of all existing exchanges is two-factor authentication. To set up one, you will need to download and install the application on your phone.

What about the benefits?

• Many translations into different languages;
• Online chat for exchange users;
• The ability to buy cryptocurrency quickly;
• Minimum commissions.

What about the shortcomings?

Recently, the Indacoin exchange has not been able to withdraw fiat money (in addition, the withdrawal process itself is quite long).