FAQs for Crypto Withdrawal Access Requests

1. How long does it take to review my crypto withdrawal request?

The review process typically takes 12-15 days. Once it’s completed, you’ll receive an update via email.

2. What happens after I submit the documents for crypto withdrawals?

After submitting your details and documents:

• Our team will review your submission.
• You’ll receive an email update once the process is complete or if more information is needed.

3. Why was my crypto withdrawal access request rejected?

If your request was not approved, it could be due to:

• Incomplete or incorrect documents.
• Missing required information.
• It does not meet internal criteria.

Note: We recommend checking the rejection email for more information, as it will provide general reasons. Please submit any valid documents, If requested.

4. Can I still trade if my crypto withdrawal access request is under review?

Yes, you can continue to trade on the platform while your request is being reviewed.

5. What should I do if I don’t receive any update within 15 days?

If you haven’t received an update within 15 days, please contact our support team via the Help-center for further assistance.

6. Why are crypto withdrawals currently restricted?

We follow strict Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) guidelines issued by India’s Financial Intelligence Unit (FIU). Allowing unrestricted withdrawals in the past has exposed exchanges to illicit activities, leading to freezing of exchange bank accounts and risks to customer funds.

To protect your funds, we’ve taken a conservative approach by restricting withdrawals until we could introduce a safer, more controlled process.

7. What is the opt-in process for crypto withdrawals access?

If you choose to enable crypto withdrawals access:

1. You will need to opt-in through the CoinDCX platform.
2. A disclaimer explaining withdrawal conditions will be shown.
3. Your request will undergo a compliance review (typically takes up to 2 weeks).

8. What documents do I need to submit?

To enable withdrawals, you’ll need to submit the following:

• 6-month bank statement
• Latest Income Tax Return (ITR)

Note: We are reviewing these documents to perform a financial risk assessment, which helps us manage any potential financial risks effectively. Thank you for your cooperation!

9. How can I track the status of my withdrawal request access?

You can monitor the status directly through the CoinDCX platform. Status updates will include:

• Request under review
• Request rejected 
• Request approved (with withdrawal access enabled)

10. What happens if my crypto withdrawals access request is rejected?

If your request is not approved, you will be notified. Please note that the option to opt in may become available in the future.

11. How will the opt-in process affect INR deposits?

Once you enable crypto withdrawals, your INR deposits will be limited to Bank Transfer only. Other deposit methods will no longer be available.

12. Why are international exchanges not facing these restrictions?

International exchanges do not deal with INR or hold bank accounts in India, so they do not face the same banking and fiat rail constraints that we do.

13. Can I withdraw all my crypto after receiving withdrawal access?

No, we recommend that you do not withdraw all your crypto at once. Instead, consider using this feature for your daily trading activities on the CoinDCX platform. This way, you can take advantage of trading opportunities without leaving the platform.

14.How does regular transaction monitoring work?

We perform regular transaction monitoring to ensure compliance with regulations and detect any suspicious activities. If any irregularities are found, we may terminate the withdrawal access and take necessary steps to provide compliant experience.

15. If my crypto withdrawal access request was rejected, can I submit a new one?

Unfortunately, this is a one-time request. However, we encourage you to stay tuned for any future chances that may arise.

16. Where can I check the status of my withdrawal access requests?

You will receive all updates via this email: em@mail.staging-blogcoindcxcom.kinsta.cloud. Please note that this is an automated email, and replies to this address will not be monitored.

17. Is there a fee for enabling crypto withdrawals?

No, there is no fee for enabling crypto withdrawals.

18. Will I receive a notification when my withdrawal access is enabled?

Yes, you will receive an email notification, and you can also view the status of your request in the app.