Recap AMA Bitbns x Vietnam Coin Market Community

5 min readJul 25, 2020

Mr Hubert: Could you briefly introduce about yourselves as well as your project?

Mr Vaibhav Seth: I am growth associate with bitbns exchange, My focus to expand our services in multiple countries across the globe.

Currently my main focus is to get the general public Stack Sats daily via bitdroplet.com because we all know FIAT hyperinflation problem has been BNS is a utility token which mainly focuses to allow users save money while spending it for OnO transactions which is a trillion dollars worth industry. We are going to implement BNS as a nucleus around all of our products at buyhatke with many other local and global partnerships.

You can check complete details about BNS at bitbns.com/bns.

These are the main utilities of BNS:

Shopping:
- Online/Offline payments.
- Cashback on every transaction.
- Direct e-commerce payments, Users will be able to earn 3–4% direct cashback.
- Paybns card.

Sending money:
- Cross-border payments with full support of crypto to FIAT conversions with just few click and low fees.

Crypto Cashback:
- No matter how big or small, Every transaction with BNS will give you a reward.
- BNS will make online/offline payments more rewarding.

Crypto insurance:
- Crypto Insurance would ensure that your crypto on BitBns is insured always which means that your funds are always safe.

Banking services:
- Cryptocurrency and FIAT loans.
- Online and offline payments.
- Crypto investments like Systematic purchase plan and fixed income plan.
- Debit card with assured cashback on each transaction.

• BNS will also be a nucleus around all of our other platforms, You can read about them here https://docs.google.com/presentation/d/1S6XZ_MhNKEzeIJvUdS0gOpjjA0mlq211_6i52Kn42h8/edit?usp=drivesdkgrowing

Mr Hubert: What are the advantages of your exchange in comparison with other top exchanges with the same features about futures contracts

Mr Vaibhav Seth: These are some advantages on BitBns.

On security level we have spend 3x more time to work on security of bitbns than other features. Users funds are timely moved to hardware wallets to ensure proper safety from any kind of hacking attack.

Till today BitBns has never been compromised and we do regular bounties to ensure the same level on security always.

On the exchange’s side:

• We have the highest number of tokens listed in India. Also have deposits and withdrawals enabled on almost all of them.
• Margin trading with upto 4x leverage is available.
• Users can also earn upto 16–25% P.A. interest by lending on margin trading.
• Bank like fixed interest using bitbns FIP where users can store crypto to get interest.
• Fastest direct bank INR deposits.
• Bank withdrawals.
• We support FIAT transactions for INR, THB and AED on Bitbns (It will go live in around 27 more countries).
• API based trading for coders and non-coders.
• Bracket orders and a host of other features.
• Best trading fee structure, Traders can trade for as low as 0.03% fees with our new fee discount slab offer.
• Bracket orders. We were the first ones to do it globally.

— We are also taking utilities of BNS token live from last year:

• bitdroplet.com went live in November 2019, You can do automated DCA in BTC from bitdroplet. It supports direct FIAT transactions of Euro, GBP, INR, THB and AED.
• 100% discount on bitdroplet’s 12th month instalment using BNS token.
• There was 0 trading fee in USDT market for 5+ weeks for users investing in BNS token.
• Trading fee discount, Initial trading fee on bitbns is 0.25% but you can just hold BNS + increase your trading volume to trade for as low as 0.03% on bitbns.
• Referral bonus, Your referred user gets 50 BNS and you will earn 50% of his trading fee always.

You can check more utilities of BNS token at https://gyazo.com/21877458d2a205260918d89fcb9fdb98

Mr Hubert: Security is considered as one of the top priority of any exchanges, how does Bitbns protect users information and ensure the asset security?

Mr Vaibhav Seth: We have planned alot of things such as Safu provision and contingency funds with BNS to ensure that users can enjoy max benefit with safety of their wealth.

Post fundraising, we will allocate 5% of the fee earned on trading, 2.5% of the total token supply and the amount received via policy premiums to SAFU wallet every month. This fund will be used to reimburse users in case anything goes wrong.

Check our whitepaper for more details https://bitbns.com/bns/whitepaper.pdf.

• We have spend 3x more time to work on security of bitbns than other features.

• Users funds are timely moved to hardware wallets to ensure proper safety from any kind of hacking attack.

BitBns has never been compromised till today and we do regular bounties to ensure the same level on security always.

Mr Hubert: What are the memorable milestones of Bitbns in the research and development process?

Mr Vaibhav Seth: Check bitbns.com/bns the timeline would showcase the work that’s been done

We recently announced that we are working on payid.org with 40 other global leaders including Huobi.

You can find a brief on how PayID works in this video by CNBC. There will be no need to remember long public addresses or account number and IFSC. It’s like UPI for all sorts of payments. You can transfer $ or Bitcoin.

→ https://twitter.com/CNBCFastMoney/status/1273737295292760066?s=19

Mr Hubert: What does Bitbns plan to do to attract more users in the upcoming time?

Mr Vaibhav Seth: In 2020 we will mainly focus on countries like Venezuela, Africa, South America where people are suffering due to FIAT inflation.

BNS will allow consumers to Shop, Save, Invest and do alot other things to preserve their wealth from FIAT hyperinflation.

Other than this we are working on series of 100 announcement within 100 days focusing on listing, partnerships and other usecases around the globe for BNS. This will start just after BNS IEO on kucoin spotlight ends.

Don’t forget to join the Bitbns community for further assistance:

t.me/bitbns

t.me/bitdroplet

http://twitter.com/Bitbns

http://twitter.com/bitdroplet

Website: bitbns.com and BNS token details: bitbns.com/bns