Cashaa going to lunches the banking services platform to Indian crypto users it will help Indian crypto users facing banking restrictions imposed by the reserve bank of India. The service allows users to deposit up to 1 crore rupees per month to purchase cryptocurrencies.
Please understand the risk of using a centralized exchange service like Cashaa! I am not demotivating anyone but just want to sketch out the risks.
1. Cashaa is a company based out of UK. It's very easy to identify an user using their service because it involves foreign remittance! As per RBI guideline, every foreign company doing business in India, must provide the details of their client's identity and funds! Like Paypal does!
2. It is evident that Cashaa is a registered crypto exchange. Anyone sends or receives funds from a known crypto broker, immediately brakes the rules of RBI, thus their account can be immediately banned without any second thought!
I see that Cashaa roadmap is showing that they are going to open an office in New Delhi. I wish them all the best! I would be very happy if they are able to bring some changes in the current crypto scenario of India. But I will personally still prefer p2p trading without going through a centralized exchange until crypto is fully legal in India!
