For instant deposits, exchanges offer Payment Gateways. Payment gateways do not support some major banks and charge 2-4% fees for deposits. NEFT/IMPS based deposits take too much time. Exchanges have started using UPI for Deposits to cater to the demand of “Quick” Deposits. But are the people aware of it? One user of an exchange travelled over 1000 Kms to visit their office. Why? To ask how UPI works. Markets…
Posts tagged as “payment gateway”
Koinex.in has been at the end of a lot of criticism and support as the leading cryptocurrency exchange shut down withdrawals on January 11th after enabling them on 8th Jan, 2018. Truth be told Koinex users have been enjoying a good premium on rates compared to other exchanges, thanks to having no way to get your precious fiat INR out of it. But, fear not my fellow traders as Koinex is…
In a surprising delight, Koinex announced they will enable Deposits and Withdrawals today. They are not instant yet as we had hoped for. INR Transactions Update: Deposits & Withdrawals will be enabled today! Important points: – INR 10 lakhs per transaction – INR 1 crore per account per day – All pending withdrawals have been credited back to Koinex wallets Please read our complete blog: https://t.co/hbKPQOqrLv — Koinex (@koinexindia) 8…
Be Quick Without Hurrying – John Wooden Update: Koinex has enabled Withdrawals for 48 hours starting 5:00 PM on Jan 8th This, is exactly what the Indian Cryptocurrency Exchanges are doing right now. Koinex, India’s leading cryptocurrency exchange started something that put them light years ahead of the incumbents. That was the lightning fast INR deposits and withdrawals at the time when players like Zebpay, Coinsecure and Unocoin were taking…
Update1: Some Exchanges have re-enabled the deposits and withdrawals, however there is a fee of 2.36% levied for withdrawal on Exchanges like Koinex and Coindelta. It is actually a good thing in my opinion. Update2: Coindelta has begun NEFT based withdrawal from Jan 2nd, 11:00 AM. Update3: Coindelta has begun NEFT/IMPS based Deposits from Jan 5th 12:00 AM. Almost all Indian Exchanges have temporarily halted INR deposits or withdrawals or both. We…