Many People in India were already in panic before the recent market crash came to existence.
The reason was that crypto exchanges were facing difficulty in processing bank transfers specially in case of deposit.
Almost every bank make it clear that they won't be dealing with any Indian exchange and that user can no longer deposit money to any crypto exchange.
I myself didn't know about this until my friends started messaging me about this issue. They were now in dilemma with what will happen to there money.
Deposit , Withdraw they were facing difficulty in both the cases. So i asked them to go for P2P if they were in urgent need of money.
Many of my friend asked me to buy their Cryptos but i can't buy them all and i don't have so much money to buy Crypto from each of my friends.
Today i tried withdrawing money from one of the known Crypto Exchanges i.e wazirx and it actually worked for me.
It took only a minute and i recieved the money in my bank.
So it looks like the problem is left with depositing of INR. This is what they show when you go for making a deposit.
So as i said banks are avoiding dealing with crypto exchanges and that's why all this is happening.
wazirx CEO said that they are finding a new partner and that the problem will be solved very soon but i don't think so.
I really hope that they find a new bank to resolve the issue but until then you should not panic.
there is nothing to panic about , I am not so experienced when it comes to Crypto Trading but i have been doing it for more than three years now.
And when i started trading cryptocurrency was ban in India. I too used p2p when i wanted to start my journey towards trading.
So in case you want to deposit your money use P2P. there is Binance and Wazirx where you will find it really easy to do so.
Also if you are so scared then move your Cryptos to a non-Indian exchange ( global exchange ).
though i don't think you need to do this.
That's all from my side , thank you.