Bitcoin Forum

Can anyone list the name of the exchanges that allow to withdraw INR to friends/relatives account without asking for additional kyc?

Exchanges won't allow you to withdraw into someone's account but it is possible on peer to peer trading platforms where KYC maybe need depends on the trader who you are going to trade with.

I don't think there is any such exchange in India which allow Deposits/withdrawals to bank accounts without completing KYC. As per RBI guidelines, KYC completion becomes essential to comply with Terms and conditions of Anti-Money Laundering policy. Customer Identification Procedure ensures Cryptoassets managing Companies to safeguard themselves from money laundering or terrorism funding or any other kind of criminal activities and protect their legal rights in India. And this is one of the major reasons why these exchanges were able to lift the ban from keeping or transacting crypto assets in India

I'm asking for support for withdrawals to family/relative's account. There should be an family friendly exchange.

I think you can use Paxful for that. It's a peer to peer exchange so I would recommend you buy/sell bitcoins only after enough research.
Make sure the buyer/seller is genuine.

https://paxful.com/

Recently I done trading on LBC and asked the trader to send money to my brother account and he was okay with it but asked the identity to verify the account really belongs to my brother and I was okay with that then everything went smooth so you have only option to choose with is peer to peer platforms.

A third-party withdrawal- lots of peer to peer exchange platforms like Paxful

Use P2P exchanges. For example...

1. https://LocalBitcoins.com - BTC

2. https://LocalCryptos.com - BTC/ETH/LTC/DASH

3. https://local.Bitcoin.com - BCH

LocalBitcoins will ask for KYC. Other two wont even ask for that. Just do make sure to deal with reputed users with lots of positive feedback. Otherwise, you might get scammed.

From my experience i don't suggest you to use third party website. Because its soo much risky. Why you need to use third party website where you can use wazirex, binance, Paxful and also Your crypto supported bank which is 100% risk free. I understand that kyc is your main problem try to done kyc with your family members documents which is soo much easy. I hope you understand because first you need to be risk-free.

You might find some traders who don't have a problem with sending money to a third party account but most of the traders will either cancel the trade or ask you to provide kyc for the account you're asking them to send the money to or at-least they will ask you for your phone number and make a call to know the reason why you're asking them to send money to someone else's account.

If you don't mind me asking. Why is it that you're looking to receive money in your friend/family's account? Is it because you're underage? Or to show less income earned from trading in books?

Don't hold me on this but I used to use instashift many moons ago, you can put any bank detail to receive money, remember its p2p tho and you may land in trouble if buyer is scummy.

Use paytm or phonepe on localbitcoin and you can withdraw to anyone account.
Just send buyer details of your friends or family members in whose account you want to withdraw. As simple as that buddy :)

To avoid long term gain taxes

The only problem with p2p is fraudulent payments and others related to hacking activities. Exchanges can be trusted as these are business entities. A few exchanges perform third party withdrawals but has low volumes. In terms of good volume where can an Indian do third party withdrawals in exchanges?

In that case, I would recommend Paxful. It's a peer to peer exchange so I guess that would work

In my opinion, you should use paxful exchange which will help you to exchange without kyc. And another thing I would mentioned there that you should be aware of fraudulent payments. Paxful is a peer-to-peer exchange and I will recommend you.

Paxful should work.
But it depends on trader to trader
There are few who do ask for id before they make the payment but some traders don't ask for nothing apart from where you want the money to go to.