Even if coinbase is allowing IMPS or UPI transfers, I would still refrain from using those. I have had multiple instances in the past where my account was frozen or at least the affected funds were locked for a really long time just because those were linked to cryptos somehow. I have stopped trusting our banks so even if coinbase has this feature, I would still not use it. As per I remember, majority of Indian platforms do offer fiat withdrawals and deposits. Even WazirX has INR deposit/withdrawals live now but the real question is - are people really trusting these conversions?
In past, times were really good. I remember cashing out bitcoins directly in my paytm wallet. That time, I didn't even do the basic KYC on paytm. Those were much easier times.
Yeah, those were indeed golden days back then but it was because of the same reason why it got restricted.
Since there was no KYC people were misusing it for their benefit and scammers were also having a really great time.
I guess sometimes, convenience comes at a cost and may be due to these KYC restrictions the scams would have decreased in number.
