In this video blog, we look at how Indian cryptocurrency exchanges are faring after RBI’s latest ban on banks preventing them from providing services to cryptocurrency-based businesses. Understandably, the pressure is now being felt across many Indian exchanges as INR deposits and withdrawals have become tougher after the RBI announcement. Cryptocurrency exchanges WazirX and Coindelta have increased their instant withdrawal fees to 1.18%. On the other hand, Koinex and Coinome have shut down their payment gateways for deposits. Surprisingly though, Coindelta and Zebpay’s payment gateway systems are working fine at the moment. The best option for Indian cryptocurrency investors at the moment is UPI which is working well for INR deposits across exchanges such as Bitbns, Koinex and WazirX.
The positive thing is that despite these roadblocks, Indian exchanges continue to offer new features and coins to cryptocurrency investors. Bitbns app has seen an upgrade with new features such as margin trading, stop limit, new UI and bug fixes. WazirX has also announced that it is working towards integrating WRX coin into the platform. The platform is set to launch Ethereum and ERC20 tokens on its plaform soon. In addition, Coindelta also added ten new cryptocurrencies yesterday.