Bitbns x Pantera ICO- Recap of live AMA Session with CEO of Bitbns “Gaurav Dahake”


Hello Everyone!

We are glad to meet here 
Let’s start BitBns x Pantera ICO AMA SESSION.


GAURAV DAHAKE (CEO) :

Hi everyone
I am Gaurav. I work for bitbns.com – India’s largest fiat to crypto exchange. Together with an amazing team we are working on building bns token https://bitbns.com/bns/
Bns is going to be the utility token that would be across different ecosystems that Buyhatke Bitbns and other entities have. We have 7 working products that operate which touch millions of users
BNS holders would get benefit on each one of them and also broadly it’s working towards making crypto payments more rewarding than fiat payments
Various products from team behind Buyhatke. We started with a vision of empowering users to
– save money,
– make money or
– reduce their commerce friction.

Bitbns – India’s largest fiat to crypto exchange https://bitbns.com/ 
(Make money)

Usemycards – World’s first peer to peer cards sharing platform
https://usemycards.com/ 
(Buyers save money and cardholders make money)

Buyhatke – A shopping research destination that helps users do smarter shopping and has saved over 300 million dollars for users till date
https://compare.buyhatke.com/ 
(Save money)

Tatkalforsure – A tool that automates tatkal ticket booking for you. Does over 2% of all the tatkal tickets booked in India daily
https://tatkalforsure.com/ 
(Reduce commerce friction)

Cricket Swag – Helps you get cricket scores 1 ball faster than TV
https://play.google.com/store/apps/details?id=cricket.swag.live.line 
(Sports commerce)

Bns token – Working on making crypto payments more rewarding than fiat https://bitbns.com/bns/
(Layer on everything commerce)

https://bitdroplet.com sip style Bitcoin investing
(Make money)

Salesla.com marketplace tool for sellers
( Make money)

Flightsforsure coming soon 😇 Would automate flight ticket booking at best prices
(Save money)

These are the products that buyhatke team has. Bns would be the nucleus around this ecosystem. Where any commerce transaction you do it would help you save money or make money while doing it and bns would multiply the benefits of that. We already do things at scale in each one of these. We would be embedding bns in them 🙃
We currently on the exchange side
– Have the highest number of tokens listed. Also have deposits and withdrawals enabled on almost all of them.
– Have margin trading with upto 4x leverage
– Fastest direct bank INR deposits
– Bank withdrawals
– API based trading
– bracket orders and a host of other features
– Best trading fee structure
– Bracket orders. We were the first ones to do it globally.

First of all congrats on building a large crypto community ICO pantera. I think I have given a broad gist on things. And would be happy to take questions further




ICO PANTERA :
Q1 : What is Bitbns business model to ensure the revenue for development and operation?

GAURAV DAHAKE (CEO) :

We earn revenue through trading fees. Lending fees percentage on margin trading and through listing fees. We are right now cash flow positive and make more money than we spend




ICO PANTERA :  
Q2 : I found many complaints about withdrawal. Some said that money was stuck even several months in Bitbns.
Koreans are bit of impatient especially about withdrawal. How can you deal with us? Will you support 24/7? Raising Ticket for customer support will not work here in Korea.

GAURAV DAHAKE (CEO) :

No. Money was not stuck. Few of them faced issues earlier with the banking ban and peer to peer system. Now There. is a direct banking flow. So withdrawals happen within 24 hours and instant within few seconds withdrawals for fiat are going live. soon. And crypto withdrawals are instant. Our support is 24×7. You can reach out to our admins on telegram anytime. And we manage the largest crypto community in India with a size of 23K. And we would launch a kakaotalk channel for Korea.


ICO PANTERA : 
Q3
 : India is currently receiving a lot of attention in the cryptocurrency market around the world. It is growing rapidly based on a large population and various talents, but it is not well known in the Korean market. The Korean market already has a large share of other exchanges, is there any way to overcome them? 

GAURAV DAHAKE (CEO) :

On the exchange side we are going to partner and work with many players. We want to work on facilitating utility for crypto than just trading. We are working on making crypto payments possible on top of amazon.




ICO PANTERA : 
Q4 : The current Indian exchange reminds me of WazirX. Is there any way we can actually overcome this perception that we think we’ve entered the global market first by working with a big exchange called Binance?

GAURAV DAHAKE (CEO) :

In terms of fiat trading volume bitbns has higher volume than wazirx. We also have much advanced features like margin trading, 4x leverage, bracket orders, instant crypto deposit resolution. Fee 0 instant INR deposits. We are also making big collaborations with large top 5 exchanges globally. And even in Korea some large tie ups are planned.


ICO PANTERA : 
Q5 :
I looked up an article about the bitbns exchange and I saw an article that said they manipulated the xrp coin. Is it true that the transaction volume has been changed by more than 500 percent? Just the fact that a question has been raised has a huge impact on reliability, so please explain this.

GAURAV DAHAKE (CEO) :

This claim was more than 2 years backWe had published a detailed response on the same. And challenged the author to prove it. https://bitbns.com/response-to-the-coincrunch-article-06082018/ All our volume is genuine.


ICO PANTERA : 
Q6 :
I think trust is the most important thing in investing in the exchange.
If you look at the Bitbns homepage, you can’t see the explanation of the company and the team.
Tell me the company address, things that can prove capital power (such as official documents such as financial statements), and information about the core team of the exchange.

GAURAV DAHAKE (CEO) :

The founding team is from the college as Sundar Pichai the CEO at google. You can find more details about our products the team advisors investors in this

https://docs.google.com/presentation/d/1S6XZ_MhNKEzeIJvUdS0gOpjjA0mlq211_6i52Kn42h8/edit#slide=id.g62956073f8_0_

Company address and other details are publicly available. You can also try the product and innovations and then make a judgement. Check our innovative products like

Bitdroplet

Bitbns arbitrage extension
https://chrome.google.com/webstore/detail/bitbns-extension/chohglfmmlfhnkloampcdmnnhnhegbfg?hl=en


ICO PANTERA : 
Q7 : 
Bitbns has a transaction/withdrawal fee of 0.25%.Why should I use Bitbns when its fee is exorbitant compared to many exchanges with excellent features some of which Bitbns doesn’t have?

GAURAV DAHAKE (CEO) :

It’s no longer true. We now have one of the best trading fee structures now and fees can go as low as 0.03% Check this for more details https://medium.com/bitbns/the-best-trading-fee-structure-is-here-82c0c3e2058d


ICO PANTERA : 
Q8 :
While most exchanges closed or move out, what did Bitbns do to keep the crypto fire alive and become most trusted, largest cryptocurrency exchange?

GAURAV DAHAKE (CEO) :

We always kept innovating on behalf of our users and always assured them as long as bitcoin is there bitbns would be there and we would constantly work arouund giving them ways to improve their experience

8db50145ad0b31284ae272887c828748325a56b82c00c7355985d8bf56c3ab38.jpeg

We now are building some amazing innovations to make crypto payments better than fiat. For example you should be able to pay with crypto on amazon and get cashback for doing it and amazon does not need to accept crypto for it. We have cracked the mechanism for it.


ICO PANTERA : 
Q9 :
I think the fact that BNS can be used in Internet shopping malls such as Buyhatke Bitbns can be good for Indians who use the Bitbns exchange. But not for overseas users. Is there a reason why foreign users should use Bitbns over coinbase,binance? I wonder if there is a differentiated policy of Bitbns.

GAURAV DAHAKE (CEO) :

It’s not just for India but also globally. We are expanding to 30 new countries by the end of the year including South Korea

In terms of differentiation our trading rates go as low as 0.03%
India is the wold’s largest open market. And we are going global. Our products are unique.
Check https://www.youtube.com/watch?v=3WYlCE2Vp5w 

Or https://www.youtube.com/watch?v=0jfB1UbyBbU 

or https://www.youtube.com/watch?v=Pkti26tESiE&t=21s 


ICO PANTERA : 
Q10 : You guys are giving guidance based on the cheapest fee in India. Korea’s leading exchange Upbit is based on a 0.05 percent commission fee for the won. This is the same condition as having $30 million transactions on your exchange and $100,000 BNS coins. If you have a lot of money, it’s better to use it on your exchange, but it’s a loss for a person like me who makes a $1,000 daily transaction. There seems to be no merit for Koreans, what did you prepare for the Korean market? For example, commission policies by country, listing Korean coins, events for new Korean subscribers, etc.
I wonder what strategy you guys have.

GAURAV DAHAKE (CEO) :

Our fees goes very low upto 0.03% and there’s 50% off on top of referal you can get. In fact we see upbit as a potential partner rather than competitor and are going to discuss collaboration and listing with them.
In terms of strategy we have better security. No hacking has happened for 2.4 years. Innovative products. Check bitdroplet.com and bitbns arbitrage extension https://chrome.google.com/webstore/detail/bitbns-extension/chohglfmmlfhnkloampcdmnnhnhegbfg?hl=en 


ICO PANTERA : 
Q11 : 
Will Bitbns team have a plan on buying back and burning BNS token periodly like others exchanges?

GAURAV DAHAKE (CEO) :

We already make money from trading fees, lending and borrowing fees and listing fees. We have announced massive rewards for users who are holding bns tokens who would trade in our exchange. You can find the details here
https://medium.com/bitbns/the-best-trading-fee-structure-is-here-82c0c3e2058d?source=collection_home—7——3———————– 

We think it’s better to give benefits upfront to users rather than charging more and then burning it.


ICO PANTERA : 
Q12 :
According to Bitbns’ exchange introductory data, the founders came out of IT. I want to know if the IIT represents the Indian Institute of Technology or the Illinois Institute of Technology, and do you have any proof of academic background?

GAURAV DAHAKE (CEO) :

Yes we came from IIT kharagpur. The same college from which CEO of google Sundar Pichai graduated from. You can check our linkedin profile and common connections. Academic proof also can be privately sent to the individual. You can query the institution asking with our names. They would confirm you we graduated from there


ICO PANTERA : 
Q13 :
I tried to sign up as a member. However, South Korea is not allowed to be selected in the national selection section. China and Thailand are also available, but can’t Korean users use this exchange?
The exchange provides its own chart for its own cryptocurrency transactions. But the chart is so ugly. Don’t you have any plans to use a tradingview?

GAURAV DAHAKE (CEO) :

Trading view charts are coming soon. Rest of the world is an option right now. South Korea would be added soon


ICO PANTERA : 
Q14 : 
Bitbns is aiming for India’s largest cryptocurrency exchange. But the registration license of the corporation is in Estonia. Why is that?
As far as I know, we are going to run Bitbns pay. But in India, a lot of people are not doing their banking business properly. Do Indians really need bitbns pay?

GAURAV DAHAKE (CEO) :

We incorporated in Estonia to grow our global ambitions. We have an India entity that works and functions and manages India operations


CRYPTO GANG : @imvishesh
Q15 :
We looked at bitdrops conducted by bitbns. It says that you can make a profit by investing regularly
at the time you decide. Isn’t this program too rosy? What happens when a person purchases a cryptocurrency at a point in time when he or she decides to do so? I’m asking because we can’t just make a profit of 100%.

GAURAV DAHAKE (CEO) :

It doesn’t promise any return. It shows what returns you would have got had you invested in BTC systematically over the last x time. You can check dcabtc.com and other websites and validate the data. The traction is growing for it fairly rapidly. you can sign up on bitdroplet and check how the flow works. We would look at opening up access to korea soon.
Check this video https://www.youtube.com/watch?v=Pkti26tESiE

This 3 videos can help you understand what is it that we are building


This concludes BitBns x Pantera ICO AMA SESSION.

Thank you for participating.



Hope everyone enjoyed and learnt from it
Thank You everyone who participated!!

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About the Author

Sheldon Fernendes
Sheldon is a Crypto Enthusiast and full-time writer at BeingInvested. He is a B.com graduate with an avid interest in finance and investment management. Attracted to the chaos of trading, Sheldon has invested in BTC, ETH, LTC and XRP for educational purposes.

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