Question Regarding India and Nigeria - crypto exchange

[agentF]

Hey Fellas,

I was wondering. I'm the founder of PNNV.com and im always looking for ways to expend my business.

Which crypto exchange is the most popular in India or Nigeria?

What's the preferred exchange method?

What are the FEEs they are taking there?


Agent.

[NdaMk]

Nigerians currently trade more on P2P since the ban of cryptocurrency trading In the country. Exchanges like Binance, KuCoin, Paxful and Luno are mostly used

[OmegaStarScream]

I'm guessing you're referring to fiat exchanges? I can't speak about Nigeria but for India, I know that WazirX is the largest one[1].

I'm not sure for how long though with the current layoffs[1] and ongoing investigations[2].

[1] https://wazirx.com/fees
[2] https://www.coindesk.com/business/2022/10/01/indian-crypto-exchange-wazirx-lays-off-40-of-its-employees-sources/
[3] https://www.coindesk.com/business/2022/08/05/indian-government-raids-director-of-binance-owned-crypto-exchange-wazirx-freezes-814m/

[agentF]

I'm guessing you're referring to fiat exchanges? I can't speak about Nigeria but for India, I know that WazirX is the largest one[1].

I'm not sure for how long though with the current layoffs[1] and ongoing investigations[2].

[1] https://wazirx.com/fees
[2] https://www.coindesk.com/business/2022/10/01/indian-crypto-exchange-wazirx-lays-off-40-of-its-employees-sources/
[3] https://www.coindesk.com/business/2022/08/05/indian-government-raids-director-of-binance-owned-crypto-exchange-wazirx-freezes-814m/

Do you have any idea what's the exchange methods?

INR to Crypto or how?

[OmegaStarScream]

Do you have any idea what's the exchange methods?

INR to Crypto or how?

Yes, you can use  INR. You can either check the fees page I gave you, or CMC[1]. Both links should have all the trading pairs listed.

[1] https://coinmarketcap.com/exchanges/wazirx/

[agentF]

Do you have any idea what's the exchange methods?

INR to Crypto or how?

Yes, you can use  INR. You can either check the fees page I gave you, or CMC[1]. Both links should have all the trading pairs listed.

[1] https://coinmarketcap.com/exchanges/wazirx/

The volume is really low, how does it work, you need to deposit INR in Wazirax's bank account and they credit your account?
Could you elaborate on the process?

[Bobrox]

I have less information about Nigerian trader what exchange used for withdrawing their fund, but I know with Indian local exchange market with WazirX. I know with this exchange market for India trader withdrawing their fund to local bank because ever make an airdrop with Wazir X coin send to all new member created account then submit KYC.
Last update have bad news with the WazirX exchange market because get trouble with their government about banned but I see this exchange market still available until right now, hope both countries between Nigeria and India have ability to withdraw their cryptocurrency assets trough there have banned with cryptocurrency.

[OmegaStarScream]

The volume is really low, how does it work, you need to deposit INR in Wazirax's bank account and they credit your account?
Could you elaborate on the process?

Yes, here's a step-by-step guide on how to do it (including the supported methods, limits, process time, etc.):

https://wazirx.com/blog/how-to-add-a-bank-account-and-deposit-inr-on-wazirx/

[newIndia]

Hey Fellas,

I was wondering. I'm the founder of PNNV.com and im always looking for ways to expend my business.

Which crypto exchange is the most popular in India or Nigeria?

What's the preferred exchange method?

What are the FEEs they are taking there?


Agent.

Sorry for being almost a year late to respond to your query. Current Crypto scenario for on & off ramping in India is a bit dicey. Volume at WazirX, UnoCoin or other KYC exchanges registered in India are mostly dried up. This has happened because of 1% TDS and 30% income tax implementation since April 2023. Direct deposit or withdrawal does not work on most as most Indian exchanges got their bank accounts frozen. People, being forced to use P2P, have mostly shifted to foreign KYC exchanges like Binance/KuCoin/MEXC etc. Many have shifted to non-KYC P2P exchanges like HodlHodl/LocalCoinSwap/AgoraDesk/LocalMonero etc. Lately, P2P on Telegram through their Crypto Wallet service is also on the rise. You'll need to check these services for their respective fees structure.