Indacoin Exchange Review

Indacoin is a UK-based cryptocurrency exchange that allows its users to buy top cryptocurrencies instantly using their debit or credit card without registration. Additionally, KYC verification is not compulsory for credit card purchases less than $200.

Indacoin exchange is owned by Indacoin Limited, headquartered in London since 2013. This exchange allows you to buy Bitcoin and over 100 altcoins, including Ethereum, Litecoin, Bitcoin cash. In addition to buying cryptos, Indacoin even offers a free mobile-based Indacoin wallet for its customers to secure their digital assets.

The trading interface of Indacoin exchange is so simple that even a novice trader can quickly buy cryptocurrencies without the need to create an account. Their customer support is excellent, better than most exchanges which we’ve tested. Nevertheless, it’s good to highlight the fact that this exchange doesn’t provide an option to sell or exchange cryptocurrencies.

To trade crypto assets, you will need to transfer your funds to an Indacoin wallet. Else, you can send them to other trusted exchanges such as Coinbase or Bitfinex, which also allow the selling of cryptocurrency to traditional fiat (EUR, USD, GBP etc.) currency.

The following review will analyse several aspects of Indacoin Exchange, whilst providing you with an all-rounded detailed overview of the exchange and its services. Although Cryptimi does its best to provide you accurate info and aims to update it on regular basis, we strongly recommend that you to visit indacoin.com for any important updates which might occur after this review is published.

Is Indacoin Safe?

Yes. Because Indacoin doesn’t store any kind of users’ personal information on its servers, this ensures safety. If users decide to store the cryptos on other wallets, then it is up to them to protect their funds, and Indacoin Exchange will not be held accountable.

Indacoin Exchange

Indacoin is a small cryptocurrency exchange which is ideal for the beginner investor to swiftly purchase cryptocurrencies using their VISA or Master debit card. The biggest advantage Indacoin has on other exchanges is that the user doesn’t need to create an account.

How does Indacoin exchange compare to the other exchanges?

Indacoin Wallet

Indacoin Exchange offers a free mobile-based multi-coin wallet that can be used to store Bitcoin or altcoins. In addition to storing coins, users can buy, send or exchange cryptocurrencies with the wallet. To find out more information, check out our review of the Indacoin Mobile Wallet here.

These are some other crypto wallets we think could be used in combination with Indacoin’s services:

The Ledger Nano X is the latest hardware crypto wallet offered by Ledger and it is designed to be the Bluetooth enabled Ledger Nano S on the go. Visit Ledger Nano X Ledger Nano X Review Launched in 2015, KeepKey Wallet is one of the oldest and most secure hardware wallets. Today it is run by the ShapeShift Exchange and ranks as the third-best wallet brand in the world. Visit KeepKey KeepKey Review If you are looking for one of the most secure hardware wallets, capable of storing a wide variety of cryptocurrencies and offering increased functionality, Trezor is definitely your go-to wallet. Visit Trezor Trezor Review

Indacoin Account

When buying cryptos, users need to provide their email address and phone number. Apart from that, there’s no need for the users to create an account on Indacoin Exchange.

How to Sign up on Indacoin Exchange

This feature is not available, since there is no need to create an account on Indacoin when buying cryptocurrencies.

How to Login on Indacoin Exchange

This feature is not applicable.

Verification Requirements

Indacoin doesn’t ask users to create an account in order to buy cryptos. At the time of purchase, for purchases larger than $200, users have to verify the ownership of the bank card by uploading certain documents. To verify the bank card, users need to:

Enter the 4-digit code received via phone call Take a selfie, clearly showing their face, while holding their ID and a piece of paper with the “Indacoin Exchange” and the specific date written on it.

The above steps are only required once for a new banking card, and it is not needed for subsequent purchases. However, if the user decides to use a different card when buying cryptos, the verification process for that card needs to be repeated.

Sometimes, the exchange might ask users to provide a video-based verification instead of documents’ upload. In this case, users are expected to say “Indacoin verification for crypto” and show the bank card together with their ID. While showing the bank card, users must ensure that only the name and last 4-digits of the card are visible. If for some reason or other the video verification doesn’t work, users can record the video and email it to [email protected]

How to Buy Digital Currency on Indacoin Exchange

To buy a digital currency on Indacoin, users should have a 3D secure VISA or Mastercard, since the exchange doesn’t accept other types of cards. In addition to providing their phone number and email address, first-time users need to provide the required documents to verify their card.

How to Buy Bitcoin (BTC) on Indacoin

The supported currencies are EUR, GBP, USD, AUD, and RUB. If you are using any other currency, then you have to follow the exchange rate set by your bank or card provider. To buy Bitcoin (BTC) from the Indacoin Exchange using a credit or debit card, follow the below steps.

Navigate to https://indacoin.com On the box titled ‘YOU HAVE’, enter the amount you would like to spend and select the desired currency (eg. 100 EUR) Select BTC from the drop-down box on the right. Now, it will display the amount of BTC you will get in the box titled ‘YOU GET’. Note that the fees are included and deducted. Click the ‘Exchange’ button. Enter your email address. If you already have a wallet on Indacoin or would like to create a new Indacoin Wallet, then select the checkbox titled ‘Create new wallet/I already have Indacoin account’. Otherwise, skip this step. Enter the valid Bitcoin Wallet Address to receive BTC. After agreeing to the terms and privacy policy, click Next. Next, enter your Full Name, Mobile number, and date of birth in MM.DD.YYYY format. (If your country code is not selected by default, then select that from the drop-down box). Then click Next. Then, you will be redirected to the payment gateway. Enter your 16-digit card number, expiration date, CVV and click the Pay button. (If you are using the card for the first time, you must verify the ownership of your card by uploading the relevant documents). You will also receive a phone call from a UK number, answer it and the call machine will provide you a 4 digit pin.

If you have set any 2FA (2-Factor Authentication) for your bank card, then you must enter that code to authorize the transaction.

Congratulations! You have successfully placed your order for Bitcoin (BTC) on Indacoin. Generally, Bitcoin transactions take 15-20 minutes to be processed and credited to your wallet.

How to Buy Ethereum (ETH) on Indacoin

Follow the below steps to buy Ethereum (ETH) from the Indacoin Exchange using a credit or debit card:

Follow Steps 1 and 2 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Select ETH from the drop-down box on the right, it will then display the amount of ETH you will get on the box titled YOU GET. Follow Steps 4 to 6 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Enter a valid Ethereum Wallet Address to receive ETH. Follow Steps 8 to 10 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’.

Congratulations! You have successfully placed your order for Ethereum (ETH) on Indacoin. Generally, any Ethereum-based transaction will take 10-20 minutes to get completed. After that, the ETH will be credited to your wallet.

How to Buy Ethereum Classic (ETC) on Indacoin

Follow the below steps to buy Ethereum Classic (ETC) from the Indacoin exchange using a credit or debit card:

Follow Steps 1 and 2 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Select ETC from the drop-down box on the right. Now, it will display the amount of ETH you will get on the box titled ‘YOU GET’. Follow Steps 4 to 6 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Enter a valid ETC Wallet Address to eligable receive ETC. Follow Steps 8 to 10 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin.’

Congratulations! You have successfully placed your order for Ethereum Classic (ETC) on Indacoin. Generally, any Ethereum-based transaction will take 10-20 minutes to be processed and credited to your wallet.

How to Buy Litecoin (LTC) on Indacoin

Follow the below steps to buy Litecoin (LTC) from the Indacoin exchange using a credit or debit card

Follow Steps 1 and 2 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Select LTC from the drop-down box on the right. Now, it will display the amount of ETH you will get on the box called ‘YOU GET’. Follow Steps 4 to 6 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Enter a valid Litecoin Wallet Address to receive it. Follow Steps 8 to 10 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’.

Congratulations! You have successfully placed your order for Litecoin (LTC) on Indacoin. Once the transaction gets completed, the LTC will be credited to your wallet.

How to Buy Bitcoin Cash (BCH) on Indacoin

Follow the below steps to buy Bitcoin Cash (BCH) from the Indacoin exchange using a credit or debit card:

Follow Steps 1 and 2 listed in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Select BCH from the drop-down box on the right. Now, it will display the amount of ETH you will get on the box titled ‘YOU GET’. Follow Steps 4 to 6 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Enter the valid receiving Wallet Address to receive BCH. Follow Steps 8 to 10 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’.

Congratulations! You have successfully placed your order for Bitcoin Cash (BCH) on Indacoin. Once the transaction is complete, the BCH will be credited to your wallet.

How to Buy Ripple (XRP) on Indacoin

Follow the below steps to buy Ripple (XRP) from the Indacoin exchange using a credit or debit card:

Follow Steps 1 and 2 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Select XRP from the drop-down box on the right. Now, it will display the amount of ETH you will get on the box titled ‘YOU GET’. Follow Steps 4 to 8 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’. Enter a valid receiving Wallet Address to receive XRP. Follow Steps 8 to 10 mentioned in the section ‘How to Buy Bitcoin (BTC) on Indacoin’.

Congratulations! You have successfully placed your order for Ripple (XRP) on Indacoin. Once the transaction is processed, the XRP will be credited to your wallet.

How to Cash Out on Indacoin

Unfortunately, there is no option to withdraw the cryptocurrency using fiat payment methods like Bank transfer or SEPA. If you have stored the cryptos on the Indacoin Wallet, then you can convert them to fiat currencies using exchanges like Coinbase.

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Supported Cryptocurrencies

Indacoin exchange allows the users to buy Bitcoin and 100+ altcoins and ERC20 tokens. The top cryptocurrencies supported by the exchange are given below:

Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Ripple (XRP), Basic Attention Token (BAT), Bitcoin Diamond (BCD), Binance Coin (BNB), Bancor (BNT), DigiByte (DGB), Ada (ADA), Dash (DASH), IOTA (IOTA), Status (SNT), Stratis (STRAT), Waves (WAVES), Zcash (ZEC), 0xProtocol (ZRX), Monero (XMR), Qtum (QTUM), NEM (XEM), Decred (DCR), Electroneum (ETN), FunFair (FUN), Tron (TRX), Tether (USDT), Verge (XVG).

Supported Countries

Indacoin exchange accepts members from virtually all countries in the world except the USA.

Supported

Since it has not restricted any country except for the USA, it is assumed that the exchange is available in EU, UK, Australia, Canada and other countries in the world.

Excluded

Currently, the exchange is not available to residents in the USA.