IMAGE: COINDCX TWITTER
In the past few months, cryptocurrencies have become a mainstream investment and trading option, made possible due to the easy access people have to buy cryptocurrencies, thanks to crypto exchanges such as Binance, WazirX, CoinDCX and many more. However, many people who have never used crypto exchanges before can get confused about things like how to deposit money, how to withdraw money and withdrawal limit. In this article, we'll take a look at the CoinDCX withdrawal limit and how to withdraw money in CoinDCX.
As per the official CoinDCX website, CoinDCX users can trade up to only Rs.10,000 if they have not yet finished their KYC process. For individuals who have finished their KYC process, the minimum amount that individuals can withdraw is Rs 1000. The maximum CoinDCX withdrawal limit per day is Rs. 500000. CoinDCX users can have a maximum of 10 transactions per day and the maximum limit for each transaction is Rs. 50,000. So users can withdraw Rs.500000 per day through 10 transactions.
Withdrawing money on CoinDCX is quite easy. As per the CoinDCX blogs, withdrawals on CoinDCX take place with the help of automated payment gateways and a manual processing channel. The automated gateway channel is operational 24x7. Once users have verified the amount they wish to withdraw, they will be redirected to a 3rd party terminal where they will be able to withdraw their funds. Once the withdrawal process is completed, funds will be deposited in users' accounts within a few minutes. It should be noted that there are some charges for using the 3rd party withdrawal portal. Many people have reported their CoinDCX withdrawal rejected. However, the funds are secure and will be safely stored in your CoinDCX accounts.
CoinDCX is a crypto exchange that was formed in 2018 in Mumbai, but it has a lot of features that Indian investors might find attractive. CoinDCX charges a 0.1 per cent takers fee and a 0.1 per cent makers fee. The withdrawal fees are much lower, about 0.2 per cent of the total withdrawal of Rs 10 flat fee, whichever is higher. Moreover, the CoinDCX app provides many other features such as DCXmargin, DCXfutures and DCXstake which are not available in most Indian apps. The main selling point for CoinDCX is the fact that it has more than 200 cryptos listed on the exchange, as they proclaim on their app.