After the favourable judgment by the Supreme Court quashing RBI’s Banking Ban, the crypto exchanges in India are leaving no stone unturned to improve the services for their users. Pocketbits, one of India’s only closed order-book exchange currently operational, announced last week a feature that satisfies the ever growing need of Instant gratification. The exchange now offers instant INR deposits.
Although the withdrawals are currently being processed within 24 hours, the exchange says they are working on making them instant as well. The instant INR deposits are free until May 3, 2020 and will be charged at INR 10 per deposit after that. Sohail Merchant, founder and CEO says they are still reviewing the situation and may extend free deposits beyond May 03.
As of April 15, Crypto Kanoon, Indian policy analysis platform reports Unocoin and Pocketbits being the only two exchanges in India with a nomination facility for users if something happens to them. Pocketbits is also part of IAMAI, and if sources are to be believed, working with other exchanges for self-regulation guide for exchanges in India.
Do you think 24 hour instant Deposits and withdrawals are necessary? Let us know in the comments below.