In India, banking banks have stopped direct buying of all the cryptocurrency almost 2 years back in April 2018. Now since Supreme Court has given a green signal In the case and has removed all restrictions from the banking bank. Now anyone can buy cryptocurrency using their bank account through Indian exchange for any amount they want. This is a great decision by the court that made the entire crypto community happy in India.
Two weeks of this restriction removal, Indian exchanges have started banking deposits and withdraw services along with a couple of pairs of crypto using the INR Fiat currency option. Though it was not planned before and anyone was able to buy crypto using peer to peer option but that was not easy to transact. In fact, I also performed a very less number of transactions in peer to peer model because it was a lengthy process and had to wait for hours to get a match.
Last week what do you racks which is India's leading exchange has enabled the option to buy and sell crypto through INR and even deposit and withdrawal using a bank account. Earlier they enabled only instant depot and withdrawal was taking upto 4 days but today they have also shared the tweet that they have enabled instant withdrawal and deposit option on their platform and this is going to be fantastic for the community.
Twitter link-
https://twitter.com/WazirXIndia/status/1239547256769921025
- WazirXIndia
I did check on their website and found these options.
Another leading exchange bitbns had enabled deposits few days and today they have enabled withdrawal as well.
tweet link-
https://twitter.com/bitbns/status/1238057314449412099
- bitbns
To see that now we are back with all the options available and it opens the door for more Indians to be part of the cryptocurrency world. I still remember when Bhardwaj is going on in December 2017 that time few exchanges like Jaypee unicorn were having a long queue for account KYC approval because thousands of users were registering every day for crypto investment in India. Now since the banking option is available and it's just started so hopefully in the coming months will be able to see many more people joining in the revolution and the overall Indian crypto community will witness a growing number of users this year.
I understand and even agree that this band has taken India back word for some time but now since things are back on track so we can hope that we as a crypto community will grow faster and make more people aware of it.
Thank you so much