I keep hearing about scams happening on Binance, and they also take a lot of fees to convert INR to USD.
So what’s the best option from the ones I mentioned
I keep hearing about scams happening on Binance, and they also take a lot of fees to convert INR to USD.
So what’s the best option from the ones I mentioned
Binance:
Pros: You can move your crypto to any wallet or other exchanges.
Cons: You can’t buy directly with any Indian bank account. You have to use the P2P method, which usually charges around 10%.
WazirX:
Pros: You can buy crypto using INR with your Indian bank card and at low fees.
Cons: They won’t let your money leave the exchange. They want everything tracked by the government for taxes, and they rarely allow crypto to be moved to other exchanges.
Are other Indian exchanges following the same rules? Can someone clarify?
@Misha
I’m not too comfortable with P2P. I used to use it but learned that some exchanges accept direct UPI as well.
Sullivan said:
@Misha
I’m not too comfortable with P2P. I used to use it but learned that some exchanges accept direct UPI as well.
Check your DM
Sullivan said:
@Misha
I’m not too comfortable with P2P. I used to use it but learned that some exchanges accept direct UPI as well.
Which exchanges are those? Do they let you transfer the crypto to an external wallet?
Sullivan said:
@Misha
I’m not too comfortable with P2P. I used to use it but learned that some exchanges accept direct UPI as well.
You could try an alternate method like Onramp.money. The rates are a bit higher, similar to P2P, but with less chance of scams.
I feel like I’m promoting Onramp, but options are limited.
Also, your money and crypto will get stuck in WazirX because they’ve disabled withdrawals, so you can’t transfer crypto out.
@Misha
The P2P premium is around 6-7% right now, so don’t pay 10%
@Misha
They blocked Binance’s IP. I got an email about it today.
I heard that Banxa allows GPay. I haven’t tried it yet but I’ll give it a go with Kucoin and Bitget.
I learned a lot about BYDFi in the Web3 Exam. Might be another option to consider.
I’m leaning more towards Bitget. They asked for my Aadhar card for verification, and KYC was done in minutes. Just sharing my thoughts.
Westley said:
I’m leaning more towards Bitget. They asked for my Aadhar card for verification, and KYC was done in minutes. Just sharing my thoughts.
This comment is empty, admin should fix
@Dean
Not right now, but maybe in the future.