{"id":1131,"date":"2020-07-25T06:45:21","date_gmt":"2020-07-25T03:45:21","guid":{"rendered":"https:\/\/esatoshi.club\/?p=1131"},"modified":"2020-07-25T06:45:24","modified_gmt":"2020-07-25T03:45:24","slug":"bitbns-x-satoshi-club-ama-recap-from-july-23","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/07\/25\/bitbns-x-satoshi-club-ama-recap-from-july-23\/","title":{"rendered":"BITBNS x Satoshi Club AMA Recap from July 23"},"content":{"rendered":"\n<p>Founded in Dec 2017, Bitbns claims to have become one of India&#8217;s largest  spot cryptocurrency trading platforms. On July 23 Bitbns conducted an AMA in Satoshi Club Community. Our guest was <a href=\"https:\/\/t.me\/vbhvsth\">Vaibhav Seth<\/a>.<\/p>\n\n\n\n<p> The total reward pool was $500 ($400 in BNS+100 USDT) and it was splitted into three parts. <\/p>\n\n\n\n<p> In this AMA Recap we will try to summarize some of the most interesting points for you. <\/p>\n\n\n\n<p class=\"has-text-align-center\"> &#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;. <\/p>\n\n\n\n<p><strong>PART 1, INTRODUCTION AND COMMUNITY\nQUESTIONS<\/strong><\/p>\n\n\n\n<p><strong>Irina K.| @Satoshi_Club:<\/strong> Hi everyone.<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club<\/strong>: Hello! Today our guests are from\nBitbns. <a href=\"https:\/\/t.me\/vbhvsth\">Vaibhav Seth<\/a>, welcome!<\/p>\n\n\n\n<p><strong>Irina K.| @Satoshi_Club:<\/strong> &#x2764;&#xfe0f; Welcome\nto another episode of our AMA series. <a href=\"https:\/\/t.me\/vbhvsth\">Vaibhav\nSeth<\/a> welcome to Satoshi Club.<\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Thank you for inviting me here for\nthis AMA today.<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club<\/strong>: We are glad to have you here.\nPlease tell us a bit about yourself and about Bitbns.<\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>I am growth associate with bitbns\nexchange, by profession I am an Information security expert. I work to expand\nservices of bitbns with proper FIAT support in multiple countries across the\nglobe. Currently my main focus is to get the general public Stack Sats daily\nvia <a href=\"https:\/\/bitdroplet.com\/\">bitdroplet.com<\/a> because we all know\nFIAT hyperinflation problem has been growing rapidly around the world and BTC\nis the solution to it.<\/p>\n\n\n\n<p>Bitbns is one of the largest exchange in India having over\n75+ cryptocurrency trading pairs, bracket orders, margin trading, Fixed income\nplan, Systematic investment plan and a lot of other things. Users from UAE,\nIndia and Thailand can deposit and withdraw FIAT on bitbns. We are expanding\nour FIAT services to 30 countries till end of this year.<\/p>\n\n\n\n<p>BNS is a utility token which mainly focuses to allow users\nsave money while spending it for OnO transactions which is a trillion dollars\u2019\nworth industry. We are going to implement BNS as a nucleus around all of our\nproducts at buyhatke with many other local and global partnerships.<\/p>\n\n\n\n<p>You can check complete details about BNS at <a href=\"https:\/\/bitbns.com\/bns\/\">bitbns.com\/bns<\/a>. These are the main utilities\nof BNS:<\/p>\n\n\n\n<p><em>Shopping:<\/em><\/p>\n\n\n\n<ul><li>Online\/Offline\npayments.<\/li><li>Cashback\non every transaction.<\/li><li>Direct\ne-commerce payments, Users will be able to earn 3-4% direct cashback.<\/li><li>Paybns\ncard.<\/li><\/ul>\n\n\n\n<p><em>Sending money:<\/em><\/p>\n\n\n\n<ul><li>Cross-border\npayments with full support of crypto to FIAT conversions with just few click\nand low fees.<\/li><\/ul>\n\n\n\n<p><em>Crypto Cashback:<\/em><\/p>\n\n\n\n<ul><li>No\nmatter how big or small, every transaction with BNS will give you a reward.<\/li><li>BNS\nwill make online\/offline payments more rewarding.<\/li><\/ul>\n\n\n\n<p><em>Crypto insurance:<\/em><\/p>\n\n\n\n<p>&#8211; Crypto Insurance would ensure that your crypto on BitBns is\ninsured always which means that your funds are always safe.<\/p>\n\n\n\n<p><em>Banking services:<\/em><\/p>\n\n\n\n<ul><li>Cryptocurrency\nand FIAT loans.<\/li><li>Online\nand offline payments.<\/li><li>Crypto\ninvestments like Systematic purchase plan and fixed income plan.<\/li><li>Debit\ncard with assured cashback on each transaction.<\/li><\/ul>\n\n\n\n<p>\u2022 BNS will also be a nucleus around all of our other\nplatforms, You can read about them here <a href=\"https:\/\/docs.google.com\/presentation\/d\/1S6XZ_MhNKEzeIJvUdS0gOpjjA0mlq211_6i52Kn42h8\/edit?usp=drivesdk\">https:\/\/docs.google.com\/presentation\/d\/1S6XZ_MhNKEzeIJvUdS0gOpjjA0mlq211_6i52Kn42h8\/edit?usp=drivesdk<\/a>\n<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club:<\/strong> BTC is the solution, yes \ud83d\ude42 we have\ncollected questions from the community. Shall we start discussing them?<\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>):<\/strong> Sure. We can start with it.<\/p>\n\n\n\n<p><strong>Q1 from Bitcointalk\nuser Nyosant<\/strong><\/p>\n\n\n\n<p><em>Online shopping with\ncryptocurrencies is great, but I am really intrigued about the offline part of\nBitbns&#8217; OnO shopping. Please could you explain how will offline shopping work\nexactly and if there will be any perks related to shopping with the BNS token?\nThanks!<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>):<\/strong> Great question.<\/p>\n\n\n\n<p>Offline spending part would work in these ways:<\/p>\n\n\n\n<ol><li>PayBns debit card: Users will be able\nto spend money by PoS machine and ATMs.<\/li><li>Store gift cards: Users will be able\nto buy offline gift cards from <a href=\"https:\/\/compare.buyhatke.com\/giftcards-wallet\">https:\/\/compare.buyhatke.com\/giftcards-wallet<\/a>.<\/li><\/ol>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>is the card available at the moment?<\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>bitbns.com\/paybns would get launched\nin November 2020<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"492\" height=\"1024\" src=\"https:\/\/esatoshi.club\/wp-content\/uploads\/bitbns-492x1024.jpg\" alt=\"\" class=\"wp-image-1137\" srcset=\"https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/bitbns-492x1024.jpg 492w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/bitbns-144x300.jpg 144w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/bitbns.jpg 615w\" sizes=\"(max-width: 492px) 100vw, 492px\" \/><\/figure>\n\n\n\n<p>Here is a short intro that we posted last year even before\nthe announcement of BNS <a href=\"https:\/\/youtu.be\/0jfB1UbyBbU\">https:\/\/youtu.be\/0jfB1UbyBbU<\/a>.\n<\/p>\n\n\n\n<p><strong>Irina K.| @Satoshi_Club: <\/strong>Do you already have any partnerships with\nmarket networks\/ chains?<\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>We have partnerships wih few market\nnetworks and chains which would get revealed over 100 days\u2019 period after\nlisting. We have planned 100 days 100 announcements for BNS which will reveal\npartnerships, listing and other details.<\/p>\n\n\n\n<p>I am posting one such example below<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"702\" height=\"557\" src=\"https:\/\/esatoshi.club\/wp-content\/uploads\/bitbns2.jpg\" alt=\"\" class=\"wp-image-1136\" srcset=\"https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/bitbns2.jpg 702w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/bitbns2-300x238.jpg 300w\" sizes=\"(max-width: 702px) 100vw, 702px\" \/><\/figure>\n\n\n\n<p>Like this is the BitBns hardware wallet which will get\nlaunched during 100 days 100 announcements of BNS.<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>That&#8217;s good news. In what countries\nwill it be available?<\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Our main focus would be on countries\nlike Venezuela, South America and few others that are suffering from\nhyperinflation of FIAT. PayBns card would allow users to spend their\ncryptocurrencies such as BTC, USDT, BNS and few other currencies in a better\nway. More countries would get revealed with launch of PayBns debit card.<\/p>\n\n\n\n<p>We already have bitdroplet.com live in Europe with complete\nFIAT support. Bitdroplet is one of the first utility of BNS where users can\nstack sats in a systematic manner to reduce loss and get returns via Dollar\nCost Averaging method.<\/p>\n\n\n\n<p><strong>Q2 from Bitcointalk\nuser Elissa<\/strong><\/p>\n\n\n\n<p><em>Not long time ago,\nanother Indian exchange, Wazirix, made an IEO on Binance. What is your\nadvantages compared to them and why exchanges are doing IEOs on other\nexchanges?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Adoption and exposure is the main\nthing due to which local Indian exchanges are doing IEO on global ones.<\/p>\n\n\n\n<p>In case of Wazirx they got acquired by Binance but BitBns is\nnot getting acquired\/sold. Bitbns would be running independently working to\nimprove bitcoin and blockchain space for a better future of financial world.<\/p>\n\n\n\n<p>For example: We recently announced that we are working on\npayid.org with 40 other global leaders including Huobi. You can find a brief on\nhow PayID works in this video by CNBC. No need to remember long public\naddresses or account number and IFSC. It&#8217;s like UPI for all sorts of payments.\nYou can transfer $ or Bitcoin.<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/twitter.com\/CNBCFastMoney\/status\/1273737295292760066?s=19\n<\/div><\/figure>\n\n\n\n<p>There are a lot such benefits that bitbns has over any other\nIndian exchange as it is running independently to improve the cryptocurrency\necosystem around the globe. \ud83d\ude42<\/p>\n\n\n\n<p><strong>Q3 from Telegram user\n@iulya_i<\/strong><\/p>\n\n\n\n<p><em>Fiat deposits and\nwithdrawals are very important. Currently you have only INR, right? If you want\nglobal adoption, you need to add USD, EUR and so on. When do you plan to add\nthem?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>We support few more currencies other\nthan INR.<\/p>\n\n\n\n<p>One of the best thing is that we do not charge any fee for\nFIAT transactions in some of these global countries such as UAE and Thailand.<\/p>\n\n\n\n<p>\u2022 We have enabled direct transaction for GBP, USD and Euro\nfor bitdroplet.<\/p>\n\n\n\n<p>\u2022 Bitbns allows users from India, Thailand and UAE to do\ndirect FIAT transactions for buying cryptocurrencies.<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong>are you working to add more countries in that list?<\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Yes.We are going live in these 30\ncountries till end of this year.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1024\" height=\"571\" src=\"https:\/\/esatoshi.club\/wp-content\/uploads\/btbb-3-1024x571.jpg\" alt=\"\" class=\"wp-image-1135\" srcset=\"https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/btbb-3-1024x571.jpg 1024w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/btbb-3-300x167.jpg 300w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/btbb-3-768x428.jpg 768w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/btbb-3.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Q4 from Telegram user @sato_nakamo<\/strong><\/p>\n\n\n\n<p><em>Can I register from US? Also, what is the utility of BNS and will you\nconduct IEOs on your platform?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>):<\/strong> Yes. Users\nfrom US can also register on BitBns.<\/p>\n\n\n\n<p>I have given a short intro on utilities of BNS on this\nmessage <a href=\"https:\/\/t.me\/Satoshi_club\/171596\">https:\/\/t.me\/Satoshi_club\/171596<\/a>,\n&nbsp;&nbsp;Please\nread it.<\/p>\n\n\n\n<p>Pre-public got conducted on bitbns. Now trading will start\ndirectly after IEO on kucoin.<\/p>\n\n\n\n<p><strong>Q5 from Telegram user\n@agz18<\/strong><\/p>\n\n\n\n<p><em>How does bitdroplet\nwork? And where will my Money will be hold during the investment period!?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Bitdroplet is a Bitcoin SIP platform\nwhere users can stack sats on regular basis in a timely manner. Stacking sats\nthis way ensures that loss is in control and users get good returns via DCA\nmethod.<\/p>\n\n\n\n<p>Right now it is there in bitdroplet wallets from where we\nmove it to different hardware wallets in a timely manner to keep it safe from\nhackers. But in few weeks we are launching a decentralized version of bitdroplet\nwhere users will be able to own their keys.<\/p>\n\n\n\n<p><strong>Q6 from Telegram user\n@zaferce<\/strong><\/p>\n\n\n\n<p><em>What are the advantages\nof using P2P based Deposit and Withdrawal models for trading?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Different types of users are\ncomfortable with different ways of trading. Some of them like an open orderbook\nwith direct deposits on binance whereas some people love localbitcoins. On\nBitBns users can enjoy both direct and P2P deposits so with bitbns choice is\nnever a concern. Users can use the feature as per their comfort.<\/p>\n\n\n\n<p class=\"has-text-align-center\"> &#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;. <\/p>\n\n\n\n<p><strong>PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n<p>The\nchat was open for 80 seconds; a lot questions were posted by the Satoshi Club\ncommunity. Our guest chose some of them. <\/p>\n\n\n\n<p><strong>Q1 from Telegram User @Nickkiii<\/strong><\/p>\n\n\n\n<p><em>How does the Fixed Income\nPlan work, how can I invest?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>FIP is a simplified version of margin\ntrading for lenders to lend. <\/p>\n\n\n\n<ul><li>FIP\nis simpler<\/li><li>Guarantees\ninstant execution<\/li><li>you\ndo not need to covered monitor to figure out what rates to lend at. <\/li><li>you\ncan always redeem your capital from an FIP instantly<\/li><\/ul>\n\n\n\n<p>FIP interests are calculated based on how much borrowing has\nhappened on the margin trading platform of bitbns. Bitbns itself effectively\nlends FIP amount also additionally generates revenue of 15% from the interest\namount of the lending and borrowing happening on the platform. Keeping all\nfactors in mind a ratio is decided on how much amount at what interest can come\nin on FIP for which coin.<\/p>\n\n\n\n<p>Read about Fixed Income Plan (FIP) here <a href=\"https:\/\/medium.com\/bitbns\/introducing-fixed-income-plan-3bc59a18aed2?source=collection_home---7------0-----------------------\">https:\/\/medium.com\/bitbns\/introducing-fixed-income-plan-3bc59a18aed2?source=collection_home&#8212;7&#8212;&#8212;0&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/a>.\n<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"600\" height=\"201\" src=\"https:\/\/esatoshi.club\/wp-content\/uploads\/btbs-4.jpg\" alt=\"\" class=\"wp-image-1134\" srcset=\"https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/btbs-4.jpg 600w, https:\/\/satoshi-club.esipick.com\/wp-content\/uploads\/btbs-4-300x101.jpg 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<p><strong>Q2 from Telegram User @Jhonathanch<\/strong><\/p>\n\n\n\n<p><em>Do users in India need to\nperform KYC? Is it mandatory for all users to make deposits and withdrawals?\nHow do you deal with these policies?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>No. Users can deposit, withdraw and\ntrade crypto without KYC. KYC is needed only for FIAT transactions.<\/p>\n\n\n\n<p><strong>Q3 from Telegram User @phamtan310<\/strong><\/p>\n\n\n\n<p><em>Before IEO on Kucoin,\nhow did Bitbns raise funds successfully? What helps Bitbns to convince\ninvestors easily?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Utilities. Utilities of BNS are one of\nthe top pillars of our token. Most of its usecases would be as a nucleus around\nall of our other platforms, Read about them here <a href=\"https:\/\/docs.google.com\/presentation\/d\/1S6XZ_MhNKEzeIJvUdS0gOpjjA0mlq211_6i52Kn42h8\/edit?usp=drivesdk\">https:\/\/docs.google.com\/presentation\/d\/1S6XZ_MhNKEzeIJvUdS0gOpjjA0mlq211_6i52Kn42h8\/edit?usp=drivesdk<\/a>.\n<\/p>\n\n\n\n<p><strong>Q4 from Telegram User @Idee01<\/strong><\/p>\n\n\n\n<p><em>Security and liquidity\nare the crypto dilemma for most crypto exchange. As one of the top 3 Indian\ncryptocurrency exchange, how do you provide liquidity? What are the security\nfeatures of bitbns exchange? How often do you do audits?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>):<\/strong> Till today bitbns has never been\ncompromised. We were born with a vision as long as bitcoin is there bitbns\nwould be there. <\/p>\n\n\n\n<p>We spend 3 times more time on security in general than any\nproduct releases for futures. So now you can think how seriously we take\nsecurity considering how many unique things we do. Bitdroplet is a global\nfirst. Bitbns extension is a global first. Our INR p2p mechanism was a global\nfirst. Bracket orders were global first. Similar global first mechanisms are\nalso deployed on the security end with 3x intensity. We off course can&#8217;t reveal\nmore but things are safer with bitbns more than ever every single day. Over 90%\nof funds are never connected to internet and are safely stored in\ngeographically diverse distributed cold wallets with multi authentication\nsystems. <\/p>\n\n\n\n<p>The next awesome thing comes is with bns <a href=\"https:\/\/bitbns.com\/bns\/\">https:\/\/bitbns.com\/bns\/<\/a> <\/p>\n\n\n\n<p>Bns would have a crypto insurance option coming soon. Your\nfunds we would actually guarantee that they would be returned in full. Not like\nbanks that we would just give you 1 lac even if you had 1 crore. Everyone knows\nwhat happened with PMC bank. You can check the roadmap of bns and get more\ndetails when it&#8217;s closer to launch. Bitbns stays ahead of the curve always. &#x1f680;<\/p>\n\n\n\n<p><strong>Q5 from Telegram User @Jhonathanch<\/strong><\/p>\n\n\n\n<p><em>About the PayBns card?\nWill this card work with VISA \/ MASTERCARD? How will it be possible to acquire?\nWill it have any cost?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>It will have a cost but with BNS token\nthat would be negligible. Like BNS hodlers are getting hardwarewallet for\nnearly negligible price <a href=\"https:\/\/t.me\/Satoshi_club\/171617\">https:\/\/t.me\/Satoshi_club\/171617<\/a>.\n<\/p>\n\n\n\n<p>More details on card would get revealed with its launched.<\/p>\n\n\n\n<p><strong>Q6 from Telegram User @Sicxa<\/strong><\/p>\n\n\n\n<p><em>Which area does #Bitbns\nfocus on at the moment? (DeFi, Stake,Dapps..)<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Currently we are focusing on defi. We\nare exploring defi to build decentralized version of bitdroplet.com. Bitdroplet\nis one of the first utility of BNS.<\/p>\n\n\n\n<p><strong>Q7 from Telegram User @Aleurich<\/strong><\/p>\n\n\n\n<p><em>The currencies of\ncentralized exchanges always have limited functions. How can you make $ BNS\nreally useful not only within the platform?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>We will focus on helping consumers\nsaving money while doing OnO purchases (Online and Offline) which is a trillion\ndollar industry. We already have a huge potion of this sector via different\nproducts of buyhatke which is live from last few years.<\/p>\n\n\n\n<p>Take a look at bitbns.com\/bns<\/p>\n\n\n\n<p>We will keep doing new partnerships and improvements in our\nproducts to make this product reach masses. <\/p>\n\n\n\n<p>For example take a look at usemycards.com<\/p>\n\n\n\n<p>We started it as P2P card sharing platform for Ecommerce\nshopping but today UMC has many features that allows users to:<\/p>\n\n\n\n<ul><li>Buy\ngift card at discount.<\/li><li>Do\nor get mobile recharge at cheap price.<\/li><li>Flight\nbooking.<\/li><li>Online\nfood orders at 10-30% discount. <\/li><\/ul>\n\n\n\n<p>and a lot more.<\/p>\n\n\n\n<p>Take a look on more utilities at <a href=\"https:\/\/t.me\/Satoshi_club\/171596\">https:\/\/t.me\/Satoshi_club\/171596<\/a>. <\/p>\n\n\n\n<p><strong>Q8 from Telegram User @Jhonathanch<\/strong><\/p>\n\n\n\n<p><em>How can I get a BitBns\nhardware Wallet? what are the advantages of acquiring one? Is it a safe\nHardware?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>You can hodl BNS to be eligible for\nit or buy it normally by paying through crypto after its launch. It will get\nlaunched within #100DaysOfBNS which is starting from around 1st August.<\/p>\n\n\n\n<p><strong>Q9 from Telegram User @Magoy12<\/strong><\/p>\n\n\n\n<p><em>On bitdroplet, you\nmentioned an example about Komal investing 400inr weekly into btc for 2 years,\nthe roi was -0.67% btc. It is not really convincing, what makes bitdroplet a\ngood way for investment?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>We believe in complete transparency.\nKomal is just an example name that we took. On bitdroplet.com homepage you can\nsee exact an actual past returns on different timeline, amount and frequency to\ndecide your goal frequency.<\/p>\n\n\n\n<p>This helps consumers in taking better investment decision\nrather than just falling for marketing gimmicks. We are focused to bring-in non\ncrypto folks to invest in crypto.<\/p>\n\n\n\n<p>For example: Bitdroplet has most of the users who are from\nmutual funds and stock market. They have stacked over 600,000 USD worth bitcoin\nin just few months. Such continuous user acquisition in non crypto world would\nhelp bitdroplet and bitcoin to climb to the top of the mountain in terms of\nadoption. &#x1f604;<\/p>\n\n\n\n<p><strong>Q10 from Telegram User @AyD80<\/strong><\/p>\n\n\n\n<p><em>What have you\nestablished for the short-term BNS token?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Live utilities of BNS token:<\/p>\n\n\n\n<p>\u2022 Bitdroplet- Users are daily stacking sats via it and\nuserbase on it is growing in the right direction.<\/p>\n\n\n\n<p>We have enabled direct transaction for GBP, USD and Euro for\nbitdroplet longtime ago and we have been onboarding users from many European\ncountries after this.<\/p>\n\n\n\n<p>\u2022 FIP- You can see yourself that FIP allocation even larger\nthan 50 BTC gets fulfilled in few minutes. We are launching new FIP plans every\nweek.<\/p>\n\n\n\n<p>\u2022 Fee refund: Users have got fee refund for over 70-80k USD\nfrom bitbns even before launch of BNS token.<\/p>\n\n\n\n<p>\u2022 UMC: It is improving daily breaking each milestones of\ndevelopment and user growth. You can check usemycards.com for utilities that\nwill work for BNS token.<\/p>\n\n\n\n<p>\u2022 Spidy: Data crawling service provider. You can search spidy\nin chrome webstore to check about it.<\/p>\n\n\n\n<p><strong>Q11 from Telegram User @Patty91<\/strong><\/p>\n\n\n\n<p><em>What relationship\nexists between Bitdroplet and BitBns? How does Bitdroplet influence the Bitnbs\necosystem? How does it make you more profitable and positive?<\/em><\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong>Bitdroplet is owned by Bitbns. Bitdroplet\norders get placed on BitBns live bitcoin orderbook which means we get more\nliquidity on BitBns and better rate for people stacking sats via bitdroplet. Both\nof them mutually give benefit to traders and investors.<\/p>\n\n\n\n<p><strong>Serg | Satoshi Club: <\/strong><a href=\"https:\/\/t.me\/vbhvsth\">@vbhvsth<\/a>,\nthanks for being here with us today! We wish you good luck in the KuCoin\nspotlight!<\/p>\n\n\n\n<p><strong>Irina K.| @Satoshi_Club: <\/strong>That should be it. Thank you @vbhvsth for your\ntime and answers. &#x1f60a;<\/p>\n\n\n\n<p><strong>Vaibhav Seth | (<\/strong><strong>\u2299<\/strong><strong>_<\/strong><strong>\u25ce<\/strong><strong>): <\/strong><strong>&#x1f604;&#x1f44c;<\/strong><strong> Thanks for inviting.<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\">&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<\/p>\n\n\n\n<p><strong>PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n<p>As\nusual, for the third part, Satoshi Club Team asked the chat 4 questions about Bitbns.\nA link to a Quiz form were sent into the chat. Participants had 10 minutes to\nanswer. 200$ were rewarded between the winners.<\/p>\n\n\n\n<p><strong>For more information and future AMAs, join our\nSocial Media channels: <\/strong><\/p>\n\n\n\n<p>English\nTelegram group: <a href=\"https:\/\/t.me\/Satoshi_club\">https:\/\/t.me\/Satoshi_club<\/a> <\/p>\n\n\n\n<p>Russian\nTelegram group: <a href=\"https:\/\/t.me\/satoshi_club_ru\">https:\/\/t.me\/satoshi_club_ru<\/a> <\/p>\n\n\n\n<p>Spanish\nTelegram group: <a href=\"https:\/\/t.me\/satoshi_club_spanish\">https:\/\/t.me\/satoshi_club_spanish<\/a> <\/p>\n\n\n\n<p>Telegram\nChannel: <a href=\"https:\/\/t.me\/satoshi_club_channel\">https:\/\/t.me\/satoshi_club_channel<\/a> <\/p>\n\n\n\n<p>Website: <a href=\"https:\/\/esatoshi.club\/\">https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n<p><strong>Our Partners: <\/strong><\/p>\n\n\n\n<p>Bitbns Community: <a href=\"https:\/\/t.me\/Bitbns\">https:\/\/t.me\/Bitbns<\/a><\/p>\n\n\n\n<p>Bitdroplet: <a href=\"https:\/\/t.me\/bitdroplet\">https:\/\/t.me\/bitdroplet<\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Founded in Dec 2017, Bitbns claims to have become one of India&#8217;s largest spot cryptocurrency trading platforms. On July 23 Bitbns conducted an AMA in Satoshi Club Community. Our guest was Vaibhav Seth. The total reward pool was $500 ($400 in BNS+100 USDT) and it was splitted into three parts. In this AMA Recap we [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1131"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=1131"}],"version-history":[{"count":2,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1131\/revisions"}],"predecessor-version":[{"id":1139,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1131\/revisions\/1139"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=1131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=1131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=1131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}