Koinex introduced peer to peer INR deposit and withdrawals

Koinex India exchange revived INR deposit and withdrawal with peer to peer model. Koinex in a statement

"With the new peer-to-peer payment mechanism, we aim to bring the satisfaction of seamless digital assets trading back. Keeping in mind the volatility of the market and that little inconvenience in trading on peer-to-peer platforms, we decided to design a much simpler, smoother and consistent payment functionality. To ensure faster trades, UPI and IMPS will be the only methods supported as of now. How this peer-to-peer payment mechanism works is actually pretty straightforward:

A Koinex user wishes to deposit INR into her Wallet and another user wishes to withdraw INR from her Wallet. Our industry-leading matching engine links these two peers, and through a banking transaction between them, this fund transfer reflects on Koinex and makes both users happy!Just like the old times, users will be able to deposit and withdraw funds directly from their INR Wallets and continue to trade in their favourite tokens and digital assets."

Revival of INR for the Indian crypto ecosystem could possibly turn out to be a cornerstone, defining the acceptance of blockchain technology in the country. In these tough times, every development in the right direction will only be a success when the entire community comes together. The trust, love and support which we have received from the community since Koinex began has been the sole motivation which pushes us to build larger and better things said Koinex management.After Giottus,coindelta exchange koinex revived INR deposits and withdrawals.soon several Indian exchanges will make this model for INR deposits.
Posted On: Sep 12, 2018

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