Is Koinex Safe To Trade?

Will Koinex start again?

We will start releasing all INR balances to your registered bank accounts once the trading has suspended.

We will try and complete these transactions in the course of next 5 weeks.

We understand that you may have a lot of queries regarding shutting down of Koinex Exchange.

Why Koinex is shutting down?

Indian cryptocurrency exchange Koinex has announced that it is closing its operations today, citing lack of banking support and regulatory uncertainty in the country. As a result, Koinex is permanently disabling cryptocurrency trading on all its platforms, effective 2.00 PM IST on June 27.

NEW DELHI : Facing regulatory troubles, one of India’s largest cryptocurrency exchange, Koinex, shut down today. “After months of uncertainty and disruption, we have regretfully decided to shut down all digital assets exchange services and operations today,” Koinex co-founder Rahul Raj said in a blogpost.

How do I withdraw coins from Koinex?

Click on “Withdraw” button for the cryptocurrency that you wish to withdraw. 3. Enter the Withdrawal Wallet Address (and any other information such as destination tag, if required in the withdrawal window) and Withdrawal Amount. Make sure you double check this information for your own safety.

Which Bitcoin wallet is best in India?

Top 5 Best Bitcoin Wallets for Indians

  • #1. Zebpay Bitcoin India.
  • #2. Coinbase Bitcoin Wallet.
  • #3. Unocoin Bitcoin Wallet India.
  • #4. Koinex Trade in Bitcoin.

How can I get litecoin in India?

In India there is only 1 website which allows you to buy LTC directly through your INR. Following will be the whole process of purchasing Litecoin (LTC) in India. To buy Litecoin in India you need to be registered in the website called. Head over to the home page of Koinex .

Which is the best crypto exchange in India?

Best Cryptocurrency Exchanges in India

  1. Wazirx (Local Exchange) Best in India with the most number of trading coins offered in India.
  2. Binance (Global Exchange)
  3. BitBNB (Local Exchange)
  4. Zebpay (Local Exchange)
  5. UnoCoin (Local Exchange)
  6. Peer to peer only (Worldwide) (Bitcoins only)

Is trading in Bitcoin illegal in India?

Legality of Bitcoins in India

As it stands, bitcoin buying, selling, trading, or mining is not illegal by any law in India.

Is Bitcoin banned in India?

In early 2018 India’s central bank, the Reserve Bank of India (RBI) announced a ban on the sale or purchase of cryptocurrency for entities regulated by RBI.

Cryptocurrency Regulations In India

Cryptocurrencies are not legal tender in India, and while exchanges are legal, the government has made it very difficult for them to operate.

Coinbase Support in India | Coinbase. Coinbase makes it simple and safe to buy, sell, and hold cryptocurrency. Sign up with Coinbase and manage your crypto easily and securely. Now available in India and in 100+ countries around the world.

Is crypto trading illegal in India?

Both the government and the RBI have confirmed that cryptocurrencies, including bitcoin, are legal in India. Parliament Member Dr.

Why did RBI ban Cryptocurrency?

The Reserve Bank of India had imposed a ban on cryptocurrency trading in April 2018 that barred banks and other financial institutions from facilitating “any service in relation to virtual currencies.” At the time, RBI said the move was necessary to curb “ring-fencing” of the country’s financial system.

Can I convert Bitcoin to cash in India?

You can cash out bitcoins through any bitcoin wallets. Zebpay and unocoins are the popular ones in India. You will have to start an account in either of them.

How safe is Coinbase wallet?

GDAX only deals with coins deemed as virtual currencies. While it is never 100% safe to your money on any online exchange, Coinbase is one of the safest web wallets you can use. Coinbase keeps almost 99% of their assets in an offline cold storage that can’t be accessed — when in cold storage, they cannot be hacked!