Are you curious to know about one of the earliest Indian crypto exchanges active today? Then, this Pocketbits review is at your rescue. Furthermore, the platform was founded in 2017, and this might not seem to be that early to you, but it has undoubtedly made its grip in the crypto market. So, let us talk in detail about Pocketbits.
Summary (TL;DR)
- Pocketbits is a cryptocurrency exchange platform that allows you to trade in bitcoin and altcoins.
- It has a user-friendly interface.
- The transactions in pocketbits are speedy and do not take much time to process.
- It allows you to buy and sell assets in market order or limit order.
- No fee is charged for deposits or INR withdrawals.
- The platform takes all the necessary precautions to keep the confidential data of its users safe.
- You get 24*7 support from the team to resolve any Pocketbits website or mobile app issues.
- You can also participate in the bug bounty program and become eligible to earn rewards for finding a security issue and providing a solution.
What is Pocketbits?
Pocketbits is a digital crypto trading platform that was an early passenger entering the crypto market. Founded by Sohail Merchant, this platform aims to link everyone to a financial system that is open to all. It offers services to beginners as well as the professionals of the crypto market.
The key part about the platform that distinguishes it from its Indian competitors is its ZERO fees. Let’s discuss that in a later section of the article. Furthermore, if you’re looking for a mobile app to carry on your trading on the go, then try reading our best apps to buy bitcoin in India. However, if you’re a beginner looking for guidance, refer to our guide to invest in cryptocurrency.
Pocketbits Review: Key Features
- It facilitates speedy transactions within a few minutes.
- This cryptocurrency exchange platform is user-friendly and easy to use.
- It allows users to get payments directly in their bank accounts.
- Pocketbits provides you with a mobile app to help you access the trading platform even with your mobile phones.
- It offers excellent safety and security of the personal data of its clients.
How to create an account on Pocketbits?
- To create an account on Pocketbits is a straightforward and quick process.
- Firstly, visit the Pocketbits website and click on “Create an Account.” Then enter your email and set a password for your account.
- After that, click on “Create your Account.”
- If you have a referral code, enter the referral code; otherwise, it’s unnecessary.
- Lastly, verify your email through the OTP, and you are done. Also, complete the Pocketbits KYC to unlock all the features.
How to buy/ sell crypto assets on Pocketbits?
Pocketbits Review: Market Order
- Login to your Pocketbits account.
- Please search for the coin you wish to trade and then select it.
- If you want to buy the coin, enter the overall INR value you wish to purchase the desired currency.
- The trades are executed at the best available price but may vary due to market volatility. Click on “OK” and proceed.
- Moreover, if you wish to sell the coin, then enter the INR value for which you are willing to sell the currency. The exact procedure is to be followed as mentioned in the above steps.
Pocketbits Review: Limit Order
- Enter the price and quantity of asset that you wish to buy.
- Set the price lower than the current market price to be a successful pro-trade buy order.
- Further, you can also track your pending order under “My Pending Orders” of Pocketbits website and can also cancel your order.
- After setting a pro-trade to buy, the relevant INR credits will be locked and shown under “In Order,” After the order is done, the crypto-asset would be added to your wallet.
- Now, in the case of selling, input the price and quantity at which you want to sell.
- After setting a pro-trade to sell, the appropriate crypto balance is shown under “In Order,” Once the order completes, it is added to the wallet.
Pocketbits Mobile app
The platform comes with an android mobile app that is available on the Google play store. Furthermore, the user interface of the mobile app is decent and as good as the website.
Pocketbits Fees
The platform Pocketbits believes in providing a transparent environment to its customers. Furthermore, the platform provides a slider on its website that can help you compare the fees on various exchanges for the entered trading amount.
Pocketbits Review: Deposit Fee
Calling itself “Bharat’s Zero fee Hero platform” Pocketbits is entirely free for the customers. The platform does not charge any INR or crypto deposit charges.
Pocketbits Review: Trading Fee
The platform Pocketbits takes its profits from the difference between the buy and sell prices. Hence, they charge no additional trading fees from their users. Furthermore, you can use the slider to calculate the fee you pay at other exchanges.
Fee for INR withdrawals
There is no fee or charges for the INR withdrawals.
Fee for Crypto withdrawals
The fees for crypto withdrawals are subject to change according to the blockchain conditions regularly.
Pocketbits Review: Bug Bounty Program
The Bug Bounty Program makes you eligible to earn a reward if you successfully find or spot security issues on their website. If the problem is actually complex, you’ll make a minimum of INR 1000. You need to forward the description of the security issue and the solution to rectify it. However, you’ll have to use your account for all research purposes.
Pocketbits Review: Customer Support
You get an option to chat, which is an easy way to get all your doubts cleared. The customer support staff is accommodating, and your queries are responded to within a few minutes. You are given all the necessary guidance and solutions regarding all your issues. The customer support team is available for you 24/7. The company is doing its best to set the bar to provide maximum customer satisfaction.
Is Pockebits safe?
Yes, Pocketbits is safe to use. Security in Pocketbits is taken special care of, be it electronic medium, online or physical. They try to give protection to your data from every aspect. Additionally, they also expect the same from you for not breaching out the data to any third party or online sources.
However, mind that, the data transmitted over the internet is not always completely secure. Therefore, it would be best if you took care of all the precautions while sharing information. Further, in case of any doubts about the security of pocketbits, you may contact [email protected]
Pocketbits Review: Pros and Cons
| Pros | Cons |
|---|---|
| It provides fast transactions. | The bitcoin rate differs according to your residence country. |
| It offers you 24*7 customer support. | You cannot begin without KYC |
Pocketbits Review: Conclusion
Trading in cryptocurrencies is becoming the everyday work of many people nowadays. However, if you are a beginner in the crypto market, then Pocketbits is an excellent platform to do the same. It has several features that will convince you to trade and invest using this platform.
Pocketbits came into existence in the year 2017 and had an understandable and easy-to-use platform. They offer the best services and build a transparent environment. Moreover, it provides competitive rates with fast trade execution.
Frequently Asked Questions
Where is PocketBits Located?
Pocketbits is located in Nashik, India. It is a cryptocurrency exchange platform that allows you to buy/sell cryptos to/from the company. It is one of the most trusted crypto exchange platforms.
How crypto exchange works?
Crypto exchange platforms allow you to trade and invest in cryptocurrencies for Fiat or a stable coin. It works as an intermediate between the buyer and seller, who returns through the transaction fees or commissions.
What is bitcoin exchange?
A bitcoin exchange is a platform where traders buy/sell bitcoins. It works as a brokerage where the trader must pay for the service they get.
