CoinDCX earmarks $1M Fund to Aid Investors in Asset Transfers from Non-Compliant Offshore Exchanges to CoinDCX Exchange
The initiative reinforces trust within the crypto community.
– Solidarity With the Community: Transferring assets between January 9 and 18, 2024, comes with exclusive benefits as users can enjoy a guaranteed 1% bonus on any amount they deposit when making the switch.
– Seamless Asset Migration: CoinDCX, India’s first FIU registered exchange, is committed to ensuring a seamless, fast, and affordable asset migration for investors from non-FIU compliant offshore exchanges.
CoinDCX, India’s leading and first FIU registered Indian exchange, is pleased to announce that it is earmarking $1 million Treasury Fund to facilitate asset transfers for investors from non-FIU compliant offshore exchanges. The $1 million Treasury Fund will be utilized to offer an exclusive 1% bonus on all crypto deposits made between January 9 and 18, 2024. CoinDCX aims to stand in solidarity with the community at a time when users wish to safely migrate their crypto from non-compliant offshore exchanges to FIU registered entities.
In late 2023, FIU IND took decisive action by urging the Ministry of Electronics and Information Technology to block URLs of nine offshore entities operating illegally. These entities failed to comply with the provisions of the Prevention of Money Laundering (PML) Act in India. In response, users on offshore exchanges have been exploring safer and compliant alternatives, resulting in CoinDCX witnessing an impressive 2000% surge in crypto deposits since December 28, 2023. CoinDCX is trusted by 1.4 crore investors and traders in India.
Key Highlights:
- Exclusive 1% Bonus: CoinDCX introduces a unique opportunity forusers to get a guaranteed 1% bonus on their crypto deposits during this special offer period:
– Get crypto holdings to CoinDCX
– Trade in Spot or Futures, and utilize any product like Earn (staking products)
– Eligible to receive 1% of the USDT equivalent of their Crypto deposits during the campaign period. Example: If a user deposited 10 USDT worth of BTC on 8th Jan and 20 USDT worth of CELO on 17th Jan, you will receive 30*1% = 3 USDT worth of INR on the Payout Date, i.e., Feb 16, 2024
– Maximum bonus is capped at INR 10,000 per user
Minal Thukral, EVP, Growth & Strategy, CoinDCX, emphasizes, “We have always advocated investors to use platforms that prioritize compliance with regulatory frameworks and local laws. As a responsible player in the Indian crypto ecosystem, we understand the urgency for investors to transition their assets from non-FIU compliant offshore exchanges. The $1 Million Treasury Fund is a step in that direction. Our long-term vision is to see an Indian crypto landscape that is secure, compliant, and matured, positively touching the lives of millions of Indians, contributing to a transformative and inclusive financial future.”
The platform urges all investors to prioritize compliance-first platforms, ensuring a safer and more sustainable crypto journey. In response to recent developments, CoinDCX reaffirms its commitment to delivering a secure and compliant investment environment. With unmatched user safety measures, steadfast adherence to regulations, and a dedicated support system, CoinDCX stands out as the preferred choice for investors seeking a secure and forward-looking crypto exchange in India.
About CoinDCX
Established in 2018, CoinDCX is the preferred crypto exchange in India, trusted by over 1.4 crore registered users. Our mission is simple: to provide easy access to Web3 experiences and democratize investments in virtual digital assets.
We prioritize user safety and security, strictly adhering to KYC and AML guidelines. We are India’s first FIU Compliant Exchange. In our commitment to quality, we employ a stringent 7M Framework for the listing of crypto projects, ensuring users access only the safest digital assets.
CoinDCX has partnered with Okto for India to launch a secure multi-chain DeFi app that offers a keyless, self-custody wallet. It aims to simplify the world of decentralized finance (DeFi) by providing a secure, user-friendly, and innovative solution for managing digital assets.
Through CoinDCX Ventures, we have invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem. Our flagship educational initiative, #NamasteWeb3 empowers Indians with crypto knowledge, preparing them for the future of virtual digital assets. CoinDCX’s vision and potential have gained the confidence of global investors, including Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred and Coinbase Ventures.
At CoinDCX, we are leading India towards the decentralized future of Web3 with an unwavering commitment to safety, simplicity, and education.
