Be Wary Of Using Certain Indian Crypto Exchanges
Today even as Coinome shared this update on their twitter I can't help but feel that it is a completely pointless exercise. Why? Because you can't deposit INR or withdraw it from their exchange, and this is a problem!
Many Indian exchanges such as Unocoin, Coinome, Zebpay and others have faced this issue where they didn't adapt to the changing situation in the market and decided to either suspend deposit/withdrawals or shut down Indian operations entirely.
Coinome despite being my past favourite exchange to trade has not been able to resume operations and it's unclear when they will do it. They haven't shown any interest in moving towards P2P models either.
Many customers have voiced on twitter alleging that the exchange is still withholding their INR and while the exchange cannot transfer it to them now, i'm unsure why any customer continued to hold INR with Coinome or any other exchange when it was clearly mentioned that 5th July, 2018 is the last date for withdrawals. Every Indian exchange had put out sufficient reminders regarding the same.
Anyway, if you are continuing to use these exchange please switch over to an exchange where you have some freedom to withdraw INR. Else you are likely to burn through your money as many unsuspecting and ignorant customers have in the past.
Coinome provided consistently incredible service in the past but right now it's totally pointless to use this exchange. So be wary of exchanges that haven't enabled any withdrawal system. Crypto is revolutionary but in India cash is still king!
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At present i love using Wazirx i am really loving the experience as well as the ease with which i get my crypto converted into inr.
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Hi @firepower :)
Sorry to trouble you on your comments. Am trying to connect on discord - have sent a f.request :)
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i seriously don't have much knowledge about cryptocurrency... thankyou for sharing this.. i will read about zebpay, unocoin n all....
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You got a 52.75% upvote from @ocdb courtesy of @firepower! :)
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