Hey everyone,
For announcement no. 16, we are bringing one of the most important feature— Nomination.
Anyone holding an account with Bitbns can now nominate someone close, to transfer access of their Bitbns account to the nominee in case of their (account holder’s) untimely demise. This is a crucial one because one can never be sure of the unforeseen circumstances and in that case, their crypto funds could be locked away forever, so having a backup plan is an absolute need.
We also would like to give a hat tip to Crypto Kanoon for constantly reminding about this to Indian crypto exchanges. This pegs Indian crypto exchanges ahead of their global peers in launching this feature.
Moving to the feature itself.
Nomination feature is available for users
- With complete KYC
You can find ‘Add a Nominee Button’ on your profile section from 22nd August. Adding a nominee would cost you 20,000 BNS. You need to add following details there:
- Nominee’s full name
- Nominee’s current address
- PAN number
- Relationship
- Phone number
Once these details are added, your nominee details are saved. You can’t currently change the nominee for a period of 1 year from inputting it. Also the assets would be transferred to nominee subject to
- Validating their KYC details
- Validating the customer has passed away
- Any relevant laws that might apply
For the validation process, Bitbns team would reach out to the nominee asking details.
This empowers the user by giving them peace of mind that their funds would reach out to their near & dear ones.
If you love this feature, join us in spreading the word out.
Also really happy to announce we have completed migrations and infrastructure upgrade of all coin nodes. We completed this rapidly over the last few days. And today have completed it for LTC, Doge, DASH, ETN, XMR, Cloak, BCHABC, BCHSV, QTUM, SERO, SKY, SIA, BNB, ZEBI, (All are blockchains off their own). And before this we wrapped up ZIL, WAN, VET, LSK, WAVES, ICX, NRG. NEM will be in sync by tomorrow. So completing around 15+ independent blockchains in a span of 3 days. This has been a mammoth effort from the dev team and we salute them for it. This has made Bitbns more secure and ready for quickly iterating on any upgrades or forks. Now we would work to make the Bitbns experience to be really really amazing — the best on the planet. Instant deposits, instant withdrawals next might be instant resolutions for any crypto and fiat issues. We already provide an option for that through the missing deposit option. We are working to ensure the number of issues around crypto reduces significantly and are working towards it :) Stay tuned.
Till then
Onwards and upwards
Team Bitbns
