Today WazirX has sent an important e-mail to their users regarding INR withdrawals. Due to the recent RBI circular banning banks from providing support to cryptocurrency exchanges, banking partner of WazirX has abruptly stopped supporting their bank account.
In this e-mail, WazirX claimed, INR funds are 100% safe with them. If anyone wants to withdraw INR to their bank account, Please place INR withdrawal requests latest by 9 AM tomorrow (Saturday, 7th July).
WazirX said, "We will honour all INR withdrawal requests and process them at the earliest possible. It may take a little longer than usual, but be assured, the money will reach your bank."
"Please do not make any deposits to WazirX via IMPS, NEFT, RTGS, UPI or any other method. We’ve discontinued INR deposits with immediate effect." requested by WazirX.
The company has already launched Crypto to Crypto trading and launching Peer-to-Peer (P2P) very soon. Users will be able to buy and sell cryptos for INR directly with each other. This is perhaps, the safest and most legal way to cash in/cash out of cryptos in India.