Current status of Indian Crypto exchanges

[CoinFellow]

Since, the entire country is on lockdown, and mostly all of us are working home, I was thinking a few things -

It has been almost 1 month since Supreme Court struck down RBIs order banning Financial Institutions providing services to businesses dealing in Cryptos in India. This was expected to create a favourable environment for Cryptos in the country.

1) After this judgement has there been increase in active accounts on Indian Crypto exchanges like WazirX, Unocoin etc? What I have read there used to be around 50 Lakh active accounts before April 2018 RBI ban which fell to around 17 lakh during the ban.
2) Is there a change in volume on these Indian exchanges and more people actively trading/investing now considering that return on other Asset classes is not great.

Does anyone have any information on the above data points or how can we look up this information.

Thanks
 

[1714908051]

1714908051

[1714908051]

1714908051

[1714908051]

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[avikz]

I don't think anyone apart from the exchange owners will have any insight on those data points. Both WazirX and Unocin owners are very active in Twitter. You can ask them directly and I don't think they will have any issue in answering.

Wazirx: https://twitter.com/NischalShetty
Unocoin: https://twitter.com/Unocoin

Hope this helps!

[akram143]

Due to lock down, economic crash the activity may not be reached the high numbers yet.

I am still using localbitcoins for converting into fiat only for my needs at the moment,trading is still not yet for me on exchanges like wazirx.

[CryptoInsights]

I am still using localbitcoins for converting into fiat only for my needs at the moment,trading is still not yet for me on exchanges like wazirx.

Same here WazirX is not that user friendly. I had used Giottus and CoinSwitch since before for buying and trading and I think there are many more like us that prefer these exchanges over wazir or new exchanges.

[kabit9]

What is the situation with ZebPay and their plans for India?

Still have some INR stuck with them.

[avikz]

What is the situation with ZebPay and their plans for India?

Still have some INR stuck with them.

Zebpay has come back to Indian market already starting from 6 March 2020. They have enabled all trading pairs including bank deposit and withdrawals. Not sure why you didn't get that news! I believe they have enabled old accounts as well. If you are not able to withdraw, try connecting with their support! But they are back in business already!

[kabit9]

What is the situation with ZebPay and their plans for India?

Still have some INR stuck with them.

Zebpay has come back to Indian market already starting from 6 March 2020. They have enabled all trading pairs including bank deposit and withdrawals. Not sure why you didn't get that news! I believe they have enabled old accounts as well. If you are not able to withdraw, try connecting with their support! But they are back in business already!

Thanks very much for your reply. I will go ahead and contact support.  Strange I didn't receive any email from them.

[0zero0]

To be honest, we should never actually believe in the data exchanges provide.
Many times the volume provided by exchanges are fake. After what Coinmarketcap did with the fake volume I have stopped trusting any of the sites and exchanges regarding volumes and marketcap and rather believe on my intuition on the trading aspect.

[akram143]

To be honest, we should never actually believe in the data exchanges provide.
Many times the volume provided by exchanges are fake. After what Coinmarketcap did with the fake volume I have stopped trusting any of the sites and exchanges regarding volumes and marketcap and rather believe on my intuition on the trading aspect.

Coinmarket cap and other price tracking websites just give the value which are provided by the exchanges so you can't expect accuracy on it.

Anyway since coinmarket cap is acquired by binance, is there any considerable changes?

[kabit9]

To be honest, we should never actually believe in the data exchanges provide.
Many times the volume provided by exchanges are fake. After what Coinmarketcap did with the fake volume I have stopped trusting any of the sites and exchanges regarding volumes and marketcap and rather believe on my intuition on the trading aspect.

Coinmarket cap and other price tracking websites just give the value which are provided by the exchanges so you can't expect accuracy on it.

Anyway since coinmarket cap is acquired by binance, is there any considerable changes?

Data is always misreported.  90% volumes on most all exchanges is wash trading done by bots. No changes yet on CMC from what we can tell but lets give it a few months and I'm sure we will see some changes and binance advertisements taking over.

[Seijun_Sango]

I have never used Wazirx and Unocoin but recently I have invented one exchange called CoinSwitch where you can buy, sell and trade 100+ coins with INR. You can try trading of small amount here if you are satisfied you can go for a bigger amount.

[amishmanish]

I have invented one exchange called CoinSwitch

Invented? Are you the founder of the exchange? That would be a pretty big deal. Are you sure you didn't mean "discover"?

Also, I looked through your post history. You seem to have taken an interest into crypto and are trying to be helpful by sharing articles etc. Sometimes you have been saying bullshit like this:

Litecoin is also the most popular coin, as its transactions take lesser time and are safer as compared to Bitcoin.

This is grossly incorrect as safer transaction is a direct outcome of the hashpower and node count. Litecoin is nowhere near Bitcoin. Its generally accepted as Silver to bitcoin's gold due to the lower confirmation time and 4 times max supply.

You have also shared some article about BSV. CSW has time and again proven to be unreliable and is an identity thief. BSV is just another one of his cash grabs where he has utilized his notoriety to gain a cult following. People quickly follow cult-leaders if they see an opportunity for profit. I would encourage you to please read about it and get familiar with the real history behind bitcoin starting with the likes of Satoshi and Hal Finney. This isn't just some "get rich quick" scheme.