Bitbns – one of the largest Indian cryptocurrency exchange has today introduced a new form of order type called the “bracket order” to its trading platform. Though the exchange has kept this new trading option limited to it’s Bitbns SELECT members. The exchange has said that it will roll out this option to all the users in coming days. Bitbns is the first crypto exchange globally to introduce this order type to its platform.
What is a bracket order?
A bracket order can be simply defined as a 3-in-1 semi-automated order. In a bracket order, the Target Order, Initial Order, and the Stop Loss Order are placed at once. The exchange has introduced this feature using the Stop limit order instead of Stop Loss Order. Along with Bracket order user can also place trailing will help in reduce the loss. Read more about bracket order and trailing stop limit.
Bitbns Cryptocurrency Exchange
The Bitbns cryptocurrency exchange launched just last year, and since then the exchange has grown into one of the largest exchange in India. Bitbns’ focus from the onset has always being to list as many coins as possible on its platform, thus allowing Indian traders have access to the crypto market on a global level. Since the exchange is targeted at Indian based users, the official currency for buying and trading cryptos in the platform is the INR. The exchange also offers a peer to peer trading of crypto on a global levels, thus allowing international investors to also participate on the platform. Bitbns is also well known for hosting a lot of flash sales, so for anyone looking to get some coins at a discounted rate, the Bitbns will be of great interest.
Indian Central Bank Crypto Ban
However, It is quite important to note that Bitbns is operating in a country which has recently clamped down all crypto related activities by limiting the bank facilities. Bitbns is expected to grow its user base exponentially as long as it stays open for trading.