Blog_2Blog_2Blog_2Blog_2
  • MARKET BUZZ
    • Daily Crypto News
    • Weekly Wrap Up
  • TOPICS
    • Crypto Basics
    • Defi
    • Metaverse
    • NFT
    • Blockchain
  • CRYPTO VERSE
    • Investing
    • Cryptocurrency
    • Price Predictions
    • Crypto Technical Analysis
    • Crypto Ama
    • Investment Research
  • PRODUCT
    • Tutorials
    • Product Features
    • Security Compliance
  • COINDCX
    • Community
    • Crypto Competition
    • Listings
    • Opinion
    • Stories
Visit CoinDCX
✕
            No results See all results

            How to withdraw funds from CoinDCX Crypto Investment App

            November 24, 2022
            How to withdraw funds from CoinDCX Crypto Investment App

            Introduction

            Ever since billionaire Elon Musk’s electric vehicle company Tesla Inc invested in the world’s largest crypto- Bitcoin, leading crypto coins such as Ethereum, Dogecoin, and Bitcoin have caught the attention of the bigger investors as well as the common man. That along with the mass adoption of the crypto space in 2018 has been a journey for the sector and investors alike.

            With the continuous growth of interest in the crypto asset class, and the extensive number of projects that are being worked upon by the crypto community, the Indian Government finally took a stand to look into the ‘digital asset class’. As the crypto ecosystem has been a subject of interest for the institutions and the Indian Government, there have been a lot of procedures that are being set. A huge part of it is the different modes of fees that users have to pay along with the recent development on 1% TDS that is applied to transactions on digital assets since July 2022.

            Moreover, the bear trends in the crypto space has also created a lot of FOMO among investors. With the crypto market crash and Celsius, then Genesis halting their withdrawal services, users are leaning more on transferring their assets to fiat.

            CoinDCX, being the consumer first brand, has worked around offering a very transparent fee structure, making it a favorite among traders. To understand the different forms of fees you might face, read CoinDCX fees structure to explain everything in detail.

            Table of Contents

            • How to withdraw funds from CoinDCX Crypto Investment App
            • Deposit and Withdrawal Fee
            • Dynamic Fee Structure
            • Crypto to INR Withdrawal from CoinDCX
            • Can I withdraw ₹100 from CoinDCX? 
            • Crypto to Crypto Withdrawal from CoinDCX
            • Debunking Myths around CoinDCX Withdrawals
            • Proof of reserves initiatives
            • FAQs
            • How much does CoinDCX charge for Withdrawal?
            • How long does it take to withdraw from CoinDCX?
            • Is CoinDCX withdrawal Safe?
            • Does CoinDCX have hidden charges?

            How to withdraw funds from CoinDCX Crypto Investment App

            Deposit and Withdrawal Fee

            Deposits of INR into your CoinDCX wallet can be done viaIMPS or NEFT / RTGS by using the Bank Transfer option. CoinDCX, as an exchange, does not charge any deposit fees on INR deposits. However, it is mandatory for users to complete their KYC and BAV in order to avail INR deposit or withdrawal facilities.

            On the other hand, there is no withdrawal fee in CoinDCX for withdrawing INR amounts. 

            For more guides on INR deposits on CoinDCX, here is a detailed FAQ.

            Dynamic Fee Structure

            A new offering from CoinDCX, Dynamic Fee Structure is a tier-based transaction fee module wherein an individual’s transaction fee will depend on their previous 30-day INR transaction volume.

            For example, if your total INR trading volume from 2nd to 31st August, 2022, i.e. for 30 days, is INR 7,00,000, then the transaction fees applicable for you on 1st September 2022, will be 0.4%, i.e., Level 2 of the Dynamic Fee Structure.

            You can check more segregations on fees, here.

            Crypto to INR Withdrawal from CoinDCX

            Any transactions that are being made to transfer Crypto into INR will be applicable for the 30% tax, as per the revised Government rules during the Union Budget 2022. However, the tax is levied on the profits made in any asset investments.

            Please Note: CoinDCX and CoinDCX Pro apps will not be deducting the taxed amount from your withdrawals. They will be coming under the individual’s taxed income.

            Know more on deduction of 1%TDS on Crypto – CoinDCX App. 

            Know more on deduction of 1% TDS on Crypto – CoinDCX Pro App.

            As per Government regulation, a 30% tax is applicable on your Crypto gains. But this tax along with the overall income tax payable based on your other sources of income can be adjusted with the TDS deducted.

            You can also file for a TDS refund based on your income slabs, for more detailed information visit Income Tax India – File TDS Return.

            1% TDS on Crypto – Simply explained with Infographics

            Can I withdraw ₹100 from CoinDCX? 

            Yes, CoinDCX allows withdrawal of ₹100. Withdrawal limits on CoinDCX are as per the following.

            Minimum: INR 100

            Maximum: 100% of the User’s balance

            Crypto to Crypto Withdrawal from CoinDCX

            As a compliant community, to negate all possibilities of a hindrance to the customers, CoinDCX has put a hold on their services of withdrawing crypto assets. The team at CoinDCX are working dedicatedly with relevant authorities to get regulatory clarity in order to enable crypto transfers in the most compliant way.

            Once the service is ready to work without any possible blockers, CoinDCX will be lightning-fast in sending you the news! For further information, you can reach out to your CoinDCX Relationship Manager or raise a ticket at Support.

            Debunking Myths around CoinDCX Withdrawals

            The crypto community is very understandably confused with so many institutions halting their withdrawal activities. However, being able to serve the crypto community of India with a customer-first approach, CoinDCX will not take a decision without keeping the customer’s experience in mind.

            • CoinDCX will never stop any of their services without giving the customer enough time to understand what the step is and why they are being taken.
            • CoinDCX is very transparent with all its activities. Be it funding or new fee offerings.
            • CoinDCX has NOT stopped their withdrawal services. The crypto to crypto withdrawals are on hold to negate any complications that may or may not come post the government’s decisions. This is also to safeguard customer funds from transactions that are not KYC verified.

            @CoinDCX Impressed by the withdrawal process amidst all the ruckus going around FTX. Received funds within 2 mins of withdrawal request placed👍🏻

            — Harsh Rathod (@harshrathod07) November 17, 2022

            • CoinDCX has zero exposure in all the incidences that have been taking place in the crypto community. Rest assured, the safety of the users’ funds is the most important aspect.

            Read more about the conversation: Live Crypto AMA with Sumit Gupta, CoinDCX

            Proof of reserves initiatives

            A Proof of Reserve audit is nothing but at an exchange employing the services of a third-party crypto auditor to ensure that it has assets on its balance sheet and balances the customer holdings. This is carried out in a cryptographic manner in a process called ‘Merkle tree’ technique.

            Ever since the post by Binance’s Chanpeng Zhao calling for crypto exchanges to publish audited reports of their Proof-of-Reserves – crypto exchanges all across the world have been hurrying to do their own due diligence and create their reports. Several exchanges have even published their own reports to stay ahead of the curve and align to the trend.

            Click here to read Sumit’s opinion on Proof of Reserves.

            For the last few days, @CoinDCX team has been working with @nansen_ai to publish our proof of reserves. It’ll have all the details including the addresses that the community is asking for. Be assured that we’re on top of this and is planned to be published early next week.

            — Sumit Gupta (CoinDCX) (@smtgpt) November 19, 2022

            FAQs

            How much does CoinDCX charge for Withdrawal?

            How long does it take to withdraw from CoinDCX?

            INR Withdrawals can take up to 72 hours to reflect in your account.

            Is CoinDCX withdrawal Safe?

            Yes, CoinDCX withdrawals is safe. If customers have queries, they can raise a ticket at Support.

            Does CoinDCX have hidden charges?

            No. For more queries on INR Withdrawals, click here.

            Share
            0
            CoinDCX
            CoinDCX

            Related posts

            March 22, 2023

            What is 1% TDS on crypto trade in CoinDCX App – Crypto TDS India Calculation


            Read more
            1% TDS for CoinDCX Pro
            March 21, 2023

            What is 1% TDS on crypto trade in CoinDCX Pro App – Crypto TDS India Calculation


            Read more
            #TDSNotTedious As CoinDCX Keeps You TDS Compliant
            March 20, 2023

            #TDSNotTedious As CoinDCX Keeps You TDS Compliant


            Read more

            Recent Posts

            • 0
              Linear Finance Price Prediction 2023: Will LINA a price hit $0.05?
              March 29, 2023
            • 0
              Why Is Litecoin striving to keep up with Bitcoin in 2023?
              March 29, 2023
            • 0
              Shapella Upgrade to enable ETH Withdrawals on Ethereum Blockchain
              March 29, 2023
            • 0
              Shiba Inu Price Prediction 2023: Will SHIB Price Make it Above $0.0001?
              March 29, 2023
            • Ethereum Shanghai Upgrade0
              The ‘Ethereum Shanghai Upgrade’ is (Finally) Going Live in April 12, 2023: Everything You Need to Know
              March 29, 2023

            Categories


            • BTC to INR


            • ETH to INR


            • USDT to INR


            • USDC to INR


            • BNB to INR


            • BUSD to INR


            • XRP to INR


            • ADA to INR


            • SOL to INR


            • DOGE to INR


            • SHIB to INR


            • MATIC to INR


            • TRX to INR

            Invest in Bitcoin, Ethereum, & other 200+ crypto assets.
            Download the app now, register & start with as low as Rs.100
            ios download link
            android download link
            qr code for download

            COMPANY

            Security
            Blog
            About
            Careers
            Referral Program

            PRODUCT

            Margin
            Trade
            Futures
            Insta
            Convert
            Lend
            Markets
            API Documentation

            SUPPORT

            Contact Support
            Frequently Asked Questions (FAQ)
            Contact Us

            • Customer Support: [email protected]
            • Team: [email protected]
            • Press: [email protected]

            SOCIAL LINKS

            Icon of FacebookFacebook
            Icon of FacebookTwitter
            Icon of InstagramInstagram
            Icon of TelegramTelegram
            Icon of LinkedInLinkedIn
            Icon of RedditReddit

            Logo of CoinDcx Download our Android/iOS App: CoinDCX Ⓒ All rights reserved by Primestack Pte. Ltd.

            DISCLAIMER

            The information and material contained herein are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary to CoinDCX, its parent, Licensor and/or its affiliates and is for informational purposes and informed investors only. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. Note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

              Visit CoinDCX
                        No results See all results
                          Go to mobile version