Crypto Exchanges
By James Thorp
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India's Crypto Rules Tightened in 2023. India changed its approach in 2023 when it classified virtual digital asset service providers as…
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Competition Heats Up Fast. BitDelta enters a market where competitors already locked down millions of users.
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BitDelta just went live in India. The company got its Virtual Digital Asset Service Provider registration from the Financial Intelligence Unit and started trading operations this…
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The move puts BitDelta into a pretty crowded field. CoinDCX, CoinSwitch, ZebPay, and Mudrex already serve Indian traders, and global names like Binance and Coinbase have been…
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Dr. Demetrios Zamboglou, the group CEO, flew to India to meet stakeholders and talk shop about where the market's heading.
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India changed its approach in 2023 when it classified virtual digital asset service providers as "reporting entities" under the Prevention of Money Laundering Act.
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The framework isn't exactly trader-friendly on the tax side. India slaps a 30% tax on crypto gains and takes a 1% TDS cut on certain transactions.
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Offshore platforms faced a choice: comply locally or accept restricted access to Indian users. Some pulled back. Others, like BitDelta, went through the registration process.
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India's securities regulator teamed up with Google to roll out a "verified" badge for locally regulated trading apps on the Indian Play Store.
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BitDelta enters a market where competitors already locked down millions of users. CoinDCX raised venture funding and built brand recognition.
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Global platforms bring different advantages. Binance offers deep liquidity across hundreds of trading pairs. Coinbase brings a U.S.
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Rupee funding options matter a lot. Indian traders want to deposit and withdraw in local currency without jumping through hoops or paying conversion fees.
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Liquidity is another battleground. Traders hate slippage—when they place an order and the price moves before it fills. Platforms with thin order books lose users fast.
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Read also: Kelp DAO Hacker Moves $104 Million in Stolen ETH Through THORchain
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The 1% TDS rule complicates things for active traders. Every transaction gets taxed, which eats into profits for people making dozens of trades per day.
The Currency Analytics
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