Crypto Trading through Fiat in India is ON
In India, banking banks have stopped direct buying of all the cryptocurrency almost 2 years back in April 2018. Now since Supreme Court has given a green signal In the case and has removed all restrictions from the banking bank. Now anyone can buy cryptocurrency using their bank account through Indian exchange for any amount they want. This is a great decision by the court that made the entire crypto community happy in India.
Two weeks of this restriction removal, Indian exchanges have started banking deposits and withdraw services along with a couple of pairs of crypto using the INR Fiat currency option. Though it was not planned before and anyone was able to buy crypto using peer to peer option but that was not easy to transact. In fact, I also performed a very less number of transactions in peer to peer model because it was a lengthy process and had to wait for hours to get a match.
Last week what do you racks which is India's leading exchange has enabled the option to buy and sell crypto through INR and even deposit and withdrawal using a bank account. Earlier they enabled only instant depot and withdrawal was taking upto 4 days but today they have also shared the tweet that they have enabled instant withdrawal and deposit option on their platform and this is going to be fantastic for the community.
Twitter link- https://twitter.com/WazirXIndia/status/1239547256769921025
I did check on their website and found these options.
Another leading exchange bitbns had enabled deposits few days and today they have enabled withdrawal as well.
tweet link- https://twitter.com/bitbns/status/1238057314449412099
To see that now we are back with all the options available and it opens the door for more Indians to be part of the cryptocurrency world. I still remember when Bhardwaj is going on in December 2017 that time few exchanges like Jaypee unicorn were having a long queue for account KYC approval because thousands of users were registering every day for crypto investment in India. Now since the banking option is available and it's just started so hopefully in the coming months will be able to see many more people joining in the revolution and the overall Indian crypto community will witness a growing number of users this year.
I understand and even agree that this band has taken India back word for some time but now since things are back on track so we can hope that we as a crypto community will grow faster and make more people aware of it.
Thank you so much
Hello to 2 India from Switzerland. Amitabha and Namasté to all citizens of the Hive! Finally Indian politicians have woken up to the revolution. As the biggest country for remittances, Indian citizens can finally be a part of a global economy that's greater than the industrial revolution ever was. After being enslaved since Mahmud of Ghazni, living in famine for 200 years during British rule, finally breaking free from oppression in 1948 it's finally time. If this wasn't gonna happen sooner, I would have labelled India as a Hindutva dictatorship under Modi even if he wasn't the finance minister. So many cotton fibres and the farmers can't send their kids to school. The land is dry and the Himalayan water is secured to whom? FIAT that wasn't backed by anything destroyed value and crypto will give that value back to us as a humanity. Thank you India and welcome to the new world economy. Lets screw the new world order. No one cares about Amartya Sen, Sonia, the Phoenix. This is everyones chance and it isn't too late. Fiscal policies and the cash crisis was important for the corrupt and rich and greedy top that was doing money laundry. Who did it affect? Now rethink the fiscal policies of your nation and the role as well as true ideals of your government as a dictatorship. If you think the internet of information was a revolution, there is one on right now that's bigger than the invention of agriculture 10'000 years ago!
@tipu curate
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Nice information thank for sharing
Hi @alokkumar121
It is definitely great news for your country. I understand that .. I just wish that more banks worldwide can see this example from your country and adopt these measures, which benefit the population and also the bank.
Sorry buddy. I will read your publication asap. I'm lacking time lately :/