Category: Uncategorized

Dear Community,

You must have received our email sent on June 21, 2022, titled “TDS Tax Update on Crypto Investments” mentioning about the upcoming changes in our trading policies post the implementation of the TDS rules for Crypto assets as decided by the Government of India. 

Since margin positions attract a higher TDS due to the tax burden being on the entire position, we are reducing the leverages allowed on margin positions. 

Here’s an example of the TDS applicable on a margin position

Regards,

Dear Community,

In continuation with the announcement made on June 20, 2022, regarding the status of Crypto transfers, we wish to inform you that while we seek regulatory clarity on crypto transfers, we are unable to offer crypto transfers for retail customers at the moment. We are working with the relevant authorities to get regulatory clarity to enable crypto transfers in the most compliant way.

We wish to highlight that fund transfers via the INR Deposits and Withdrawals route are open for all and running as usual. Customers can freely deposit & withdraw INR from the platform.

For vendors who provide liquidity services, please reach out to your Relationship Manager or our Customer Support Team for further information on crypto transfers & eligibility.

Regards,

Dear Community,

You must have recently received our email sent on June 21, 2022, titled “TDS Tax Update on Crypto Investments” mentioning about the upcoming changes in our trading policies post the implementation of the TDS rules for Crypto assets as decided by the Government of India. 

This post is to further help you understand the implications of these TDS rules on Active/Partially Open/Partially Closed margin trades that have not been fully closed on or before 11:59 PM on June 30, 2022. On such transactions, you will owe 1% TDS to the Government of India in case the position is still open after 11:59 PM on June 30, 2022. Since the trades were executed before the start date of July 01, 2022, we’ll have to account for additional margins to collect TDS on your position. 

This will be done as per the following sample calculation:

Regards,

Dear Community,

Adding funds to your wallet and staying market ready is really important in a fast-paced crypto market. And we’re always looking for solutions to make your fund deposit experience better. 

Now add funds & be market ready with the Net Banking – IMPS. 👍

Why make IMPS your preferred option?

✔️Faster deposit processing time of upto 4 hours

✔️Minimum deposit amount starting at just ₹500 

✔️No hidden charges

IMPS deposit option details:

➡️ Click Here for a quick & simple video on how to add funds via IMPS option.

Your smooth investment experience is our highest priority.

Switch to IMPS deposits today! ✅

In case of any further queries, please reach out to us at Support here 🫶

Note: CoinDCX recommends using the IMPS deposit option to add funds for a better deposit experience. Deposits via UPI Netbanking option are currently not supported and any funds added via this option will be refunded to your bank account immediately.

Regards,

Dear Community,

We noticed that few users have recently transferred funds using the UPI mode. We would like to inform you that we currently support IMPS mode ONLY and would request you to use the same for fund transfers.

To avoid getting your funds stuck, please deposit funds using the Net Banking (IMPS ONLY) option. Not only is it easier and faster, but also your funds will be credited in less than 2 hours after you transfer funds. 

Click Here to learn more about how to transfer funds using the Net Banking (IMPS ONLY) option.

Your smooth investment experience is our highest priority. In case of any further queries, please reach out to us at Support here.

 

Regards,

Dear Community,

For any information on TDS (Tax Deducted at Source) and how it might affect your investments, please refer to the links below.

FAQs:

1. 1. TDS for CoinDCX App Users
   2. TDS for CoinDCX Pro Users

Blogs:

1. 1. What is 1% TDS on crypto trade in CoinDCX App
   2. What is 1% TDS on crypto trade in CoinDCX Pro App

In case of any further queries, please reach out to us at Support here.

Regards,

Dear Community,

Please note that for a few affected users, we have found a technical issue with their P&L feature due to which they may notice a discrepancy in the investment numbers being displayed. Be assured that your funds are safe and your smooth investment experience is our highest priority. We are working to ensure this issue is resolved at the earliest. 

In order to resolve this issue, we will be carrying out a maintenance activity on the P&L feature (for only affected users) starting tonight (June 14, 2022) from 10:00 PM till 07:00 AM on June 15, 2022.

Kindly note that affected users will be able to check all the holdings and their current value in a limited view during this maintenance activity. To ensure the maintenance activity goes as planned and resolves the issues with the P&L feature, it would be advisable to not perform any activity during the maintenance period. 

We regret the inconvenience this may have caused. In case of any further queries, please reach out to us at Support here.

Regards,

Dear Community,

We would like to let you know that both deposit and withdrawal services for TRX wallets are now open. 

As per the recent upgrade in the Tron network, the wallet addresses for Tron network were changed on CoinDCX. We would request you to make note of the new address and use the same for any further activities related to Tron networks. Please DO NOT make any deposits/withdrawals using the old address, which might put you at the risk of losing your funds. 

Kindly note that aside from TRX, USDT-tron wallets are currently enabled for deposits and withdrawals, and BTC wallets are open for withdrawals only. We will open other wallets in a staggered manner as soon as we complete our network security upgrades.

For more information on wallets, visit this link to stay up-to-date with the latest updates. 

Tips: Always double check the wallet address and input it by copy-paste. DO NOT enter manually. If you enter the wrong address, you might lose your funds permanently.

In case of any further queries, please reach out to us at Support here. Thank you for your trust in us while we continue to build a safer cryptoverse for you

Regards,