CoinDCX claims that it is one of the largest cryptocurrency exchanges in India. Yet it appears that it is not suitable for receiving crypto payment from the customers. A user received payment from a Spanish customer Clickspaid and CoinDCX has not credited the payment to the user account after more than 48 hours
The CoinDCX user has to specify whether the deposit is from
Users own wallet
Someone elses wallet
If the payment is from another persons wallet they are asking the following details
PAN
Passport copy
Driving license
The financial intelligence unit (FIU) of the indian government does not consider the indian internet users who are receiving crypto payment for the services or product they sell, where cryptocurrencies or tokens are an alternative to fiat currency. They are falsely claiming that all the income is from trading and that indians are using Binance, Kucoin and other cryptocurrencies only to avoid paying the 30% tax
In India at present all the government jobs and lucrative opportunities in indian internet sector are reserved for the relatives and friends of liar top indian government employees who do not pay expenses , do not do computer work, yet get monthly government salaries only for making fake claims at the expense of online workers, investors who they criminally defame, rob while the real online investors are making a huge loss.
So the real domain investor, private citizen, who is paying a huge amount for domain renewals is forced to do crypto, ruble work, which is only other paid work available. Earlier she was using Binance for converting the the crypto payment into indian rupees, yet the government has blocked the urls in January 2024. So the domain investor reviewed some of the indian crypto exchanges and has opened an account in a few. After Binance and other exchanges were blocked in India after January 15, 2024 the reviewer opened an account with Coindcx.
To review CoinDCX the CoinDCX BTC address was used for receiving payment from Clickspaid a spanish company. The domain investor had earlier used her Binance BTC address for receiving payment and it was usually credited quickly within a few hours of the payment being confirmed. However when the payment was sent to the CoinDCX BTC address it is not yet credited after more than 48 hours, They are asking for more details which most online workers will find difficult to provide
CoinDCX does not consider the case of customers who are receiving payment from customers outside India, and those who receive payment from companies. Customers outside India do not have a PAN number. Only individuals have a Passport and driving license, registered businesses do not have these documents. So the domain investor provided a screenshot of her Clickspaid account showing the payment. Yet exposing the limitation of indian crypto exchanges they refuse to accept the screenshot of clickspaid account and continue to hold the payment for more than 48 hours.
Yet showing the extent of the atrocities on marathi speaking migrants from north karnataka,since 2010,government agencies are refusing to acknowledge the time and money the online investor is spending and are spreading completely fake rumors that the paypal payment is send by NRI relatives, though the domain investor can easily prove that the payment is from customers for advertising,content, domain sales. Though GST returns with the HSN code are filed since 2017, the government agencies refuse to end their criminal defamation and are now wasting time and money blocking the payment.The domain investor is not young and she does not wear tshirts, jeans, hot pants, dresses, it does not mean that she cannot have customers from outside india. It is time that the indian internet companies are more professional and stop falsely insisting that the BTC payment was from an indian customer.
For one payment from a spanish company a BTC address from the indian exchange was provided. Though the blockchain explorer showed that the transaction was completed several hours ago, the amount is not credited to the indian exchange account. The indian exchanges are focusing mainly on traders and are asking for PAN of the sender. The sender is a spanish company who does not have a PAN number and is paying a large number of workers, they will not provide a copy of the passport, driving license for a very small amount.
It appears that the indian exchanges have not made a provision for online workers, who are receiving crypto payment for the work they do or products they sell. Binance was crediting the amount immediately to the BTC address without asking for any document, indian exchange has put the payment on hold since they have not considered that crypto payment is used as an alternative to Paypal in some countries. A support ticket was also opened on 30.1.2024, yet there is no reply received. So indian internet users receiving crypto payment from customers should avoid using indian exchanges till they modify their procedure and credit the customer account quickly
