DUMP KOINEX IMMEDIATELY BEFORE ITS TOO LATE

[dogandogru]

There is nothing wrong with KOINEX. It is just a rumour about KOINEX, they will soon start Crypto-INR withdrawal.
Koinex is the only exchange in India which provides an opportunity to buy/sell various altcoins with FIAT(INR). It is operating from quite long time so has earned a good reputation in the market. Even Zebpay has also halted withdrawals for some time in past. So I think there is nothing to fear.

[1715253277]

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[1715253277]

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[1715253277]

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[Blackshadow007]

I see this on their site right now:

Code:

INR Withdrawals Update: INR withdrawals will be enabled tonight on the platform at 01.00 AM (on January 31, 2018).
Important points to note: INR 5 lakhs per transaction, INR 20 lakhs per user account per day, Transactions will be processed within 2 - 4 bank working days

Just placed stuck money withdrawal request , lets see how many days it take to hit bank .

Got PAID , They are slow but paying . Got paid my withdrawal request after 3 business days .

[sgk]

I see this on their site right now:

Code:

INR Withdrawals Update: INR withdrawals will be enabled tonight on the platform at 01.00 AM (on January 31, 2018).
Important points to note: INR 5 lakhs per transaction, INR 20 lakhs per user account per day, Transactions will be processed within 2 - 4 bank working days

Just placed stuck money withdrawal request , lets see how many days it take to hit bank .

Got PAID , They are slow but paying . Got paid my withdrawal request after 3 business days .

That's good to know. I like the liquidity and price range of Koinex. I am willing to open an account with them but currently new registrations are disabled. Hope that opens soon.

[Blackshadow007]

I see this on their site right now:

Code:

INR Withdrawals Update: INR withdrawals will be enabled tonight on the platform at 01.00 AM (on January 31, 2018).
Important points to note: INR 5 lakhs per transaction, INR 20 lakhs per user account per day, Transactions will be processed within 2 - 4 bank working days

Just placed stuck money withdrawal request , lets see how many days it take to hit bank .

Got PAID , They are slow but paying . Got paid my withdrawal request after 3 business days .

That's good to know. I like the liquidity and price range of Koinex. I am willing to open an account with them but currently new registrations are disabled. Hope that opens soon.

I would suggest you instead of Koinex use Coindelta , much faster and smoother . They verified me within 30 min and withdrawal so far i am seeing always within 3 - 4 hours during Banking hours only . Quite a nice experience so far with Coindelta over a week now . Koinex also paying but they slow , withdrawal take around 2 - 3 working days to hit bank .

[sgk]

I see this on their site right now:

Code:

INR Withdrawals Update: INR withdrawals will be enabled tonight on the platform at 01.00 AM (on January 31, 2018).
Important points to note: INR 5 lakhs per transaction, INR 20 lakhs per user account per day, Transactions will be processed within 2 - 4 bank working days

Just placed stuck money withdrawal request , lets see how many days it take to hit bank .

Got PAID , They are slow but paying . Got paid my withdrawal request after 3 business days .

That's good to know. I like the liquidity and price range of Koinex. I am willing to open an account with them but currently new registrations are disabled. Hope that opens soon.

I would suggest you instead of Koinex use Coindelta , much faster and smoother . They verified me within 30 min and withdrawal so far i am seeing always within 3 - 4 hours during Banking hours only . Quite a nice experience so far with Coindelta over a week now . Koinex also paying but they slow , withdrawal take around 2 - 3 working days to hit bank .

Thank you for your feedback. I had never heard of Coindelta. I've only used Coinsecure & Unocoin. Just checked their site and looks good, I'll open up an account in few days and see how it goes.

[edgycorner]

Withdrawals are enabled again.
https://twitter.com/koinexindia/status/958345734272598016

I have been using koinex for months now, before December the withdrawals and deposits were very smooth.I never had any problem.
But after the incoming of large numbers of neophytes, and the pressure from RBI to keep KYC records made them slow.

I agree that they have a very bad support, but I don't see any chance of getting scammed by them.Even if withdrawals are stuck sometimes, you can still withdraw your cryptos(and they are instant).
And they offer true price of each coin, unlike other shitty exchanges.I will always prefer koinex over them!

[Blackshadow007]

Withdrawals are enabled again.
https://twitter.com/koinexindia/status/958345734272598016

I have been using koinex for months now, before December the withdrawals and deposits were very smooth.I never had any problem.
But after the incoming of large numbers of neophytes, and the pressure from RBI to keep KYC records made them slow.

I agree that they have a very bad support, but I don't see any chance of getting scammed by them.Even if withdrawals are stuck sometimes, you can still withdraw your cryptos(and they are instant).
And they offer true price of each coin, unlike other shitty exchanges.I will always prefer koinex over them!

Well everything is ok for me also but only thing i noticed that INR withdrawal very slow , it almost took 3 business days to hit bank which is considerably slow than any other Indian exchange and during this volatile marked most people like faster withdrawal for their regular trading which Coindelta maintains so far . Always within 3 to 4 hours max during banking hours . Zebpay also come fast but time varies sometime within 1 - 2 hour and sometime a working day .

[sgk]

Does Koinex charge any fees on INR withdrawals? Nothing is mentioned on their "fees" page.

[lordquanta]

They decided to charge 2.36% for all INR withdrawals. This is totally not acceptable a NEFT transaction is just 5-10 rs on most banks.

They are either having liquidity issues or are trying to run away or are trying to rip people off since they already have a very high volume.

Take a hint. It is too late for everyone from India. Most of the crypto vendors in India are simply ripping off customers in a broad day light. Note that some exchanges/vendors are good and legit for now. Most of the vendors providing services in crypto field are facing heat from the policies as well.

[edgycorner]

Does Koinex charge any fees on INR withdrawals? Nothing is mentioned on their "fees" page.

Probably its zero now.Since they are charging a fees on every trade.Which is different for buyers and sellers.

But yeah, they have't mentioned anything on the fees page.So we can only assume it to be zero unless someone who has traded recently can guide us.I did a few trades before February, when it used to be 2%.Although, it was mentioned on the website.

[sgk]

They decided to charge 2.36% for all INR withdrawals. This is totally not acceptable a NEFT transaction is just 5-10 rs on most banks.

They are either having liquidity issues or are trying to run away or are trying to rip people off since they already have a very high volume.

Take a hint. It is too late for everyone from India. Most of the crypto vendors in India are simply ripping off customers in a broad day light. Note that some exchanges/vendors are good and legit for now. Most of the vendors providing services in crypto field are facing heat from the policies as well.

Hmm...  that is some outrageous fee if true. Can prasanthsd confirm if this is still the case? I opened an account there but haven't traded yet.