CoinDCX — the new Indian cryptocurrency exchange, which allows legal operations with more than 30 currency pairs in the markets of BTC/ETH. However the platform does not violate the rules of the regulators and consistent with current legislation.
The founders CoinDCX by Sumit Gupta and Neeraj Khandelwal say that being an exchange, where you are only transactions “cryptocurrency-cryptocurrency”, CoinDCX is irrelevant and can not be equated to any of regulated by the Reserve Bank organizations:
“People can legally Deposit and to trade their cryptocurrency markets BTC / ETH. It’s safe.”
Last Thursday the Reserve Bank of India has banned legal entities that fall under regulations, to provide services to organizations that deal with crypto currencies. This means that Indian banks can’t allow their clients to purchase Bitcoin in exchange for a rupee.
“You don’t need to get rid of your investments during a falling market. Just move your cryptocurrency on CoinDCX where you will be able much faster to make a Deposit, carry out transactions with low charges (0.1 percent), and using 30 pairs, not using Indian rupees (INR), ” said Gupta, co-founder and CEO CoinDCX .
Neeraj Khandelwal,co-founder and technical Director CoinDCX continued:
“Despite the fact that our users CoinDCX will trade cryptocurrency pairs, they can still check equivalent to the price of tokens, order buy or sell and even keep track of your portfolio in Indian rupees (INR)”.
In addition, the developers claim that CoinDCX has some unique features for the full development of the Indian cryptocurrency community.
This is the first in India cryptocurrency trading platform that does not violate neither laws nor regulations set by the Reserve Bank of India.The technology thus meets all international standards.