A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Indacoin consists of four parts: general information, fees, deposit methods and security.
Indacoin is a British cryptocurrency exchange. United Kingdom is the country which without a doubt has the most cryptocurrency exchanges in the world. At least that we know of. A non-exhaustive list of exchanges from the UK (in addition to this one) includes Exmo, CEX.io, CoinEgg, Livecoin, DSX, LocalTrade, Bittylicious (funny name by the way), CoinMate, MixCoins, Paybis, Vaultoro, Instant Bitex and eToro.
US-investors may not trade on this exchange. So if you are a US-investor and want to trade at Indacoin, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges. Don’t be too sad though, there are many other venues that offer the type of trading this exchange does. Use our Exchange Finder here to find out which alternatives you have.
This exchange provides an smooth way to buy BTC and 200 other cryptocurrencies with Mastercard or Visa.
If you are one of the people who prefers to do your crypto trading on your phone instead of on your desktop, you’ll be happy to learn that Indacoin is also available as a mobile app. Regardless of whether you have an iPhone or Android, you can download the app and use the features of the trading platform on your phone.
Indacoin Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. At this exchange, there is only an order box. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the purchase interface at Indacoin:
Indacoin Trading fees
This trading platform is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is buying cryptocurrencies from Indacoin. When buying cryptocurrencies, the price offered by the exchange is higher than the market price (but also include any transaction fees). The mark-up is not specified anywhere. The exchange arrives at the offered price through “a calculator”. The reasoning behind this is that the exchange’s fee varies from purchase to purchase as it is based on numerous factors.
The above is potentially also a risk for you as an investor. Accordingly, we strongly urge you to make you own analysis of the fees and price differences at this exchange before executing any transactions there and before concluding that it is the best cryptocurrency exchange site for you.
Indacoin Withdrawal fees
Considering how this exchange operates, withdrawal fees are irrelevant (they are included in the transaction fees).
You can only purchase cryptocurrencies via credit cards at this exchange.
Indacoin’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below the industry average when it comes to top crypto exchanges.
Finally, the exchange reviewed above has a large number of supported cryptocurrencies. If a large number of supported cryptocurrencies is an important factor for you in your choice of cryptocurrency exchange, you could also check out the following exchanges: