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RE: Buying, HoDLing and Selling Ethereum tokens in India : A Step-by-Step guide for Newbies
looked into koinex. They don't have an address listed on the website or mention of legal entities ?
Whois record is also vague:
Admin Email:rakesh@koinex.in
Tech ID:CR275341021
Tech Name:Rakesh Yadav
Tech Organization:
Tech Street1:6th Floor, B Wing, Ackruti Trade center
Tech Street2:Andheri MIDC
Tech Street3:
Tech City:Mumbai
Tech State/Province:Maharashtra
Tech Postal Code:400072
Tech Country:IN
Tech Phone:+91.8377950711
They are reliable ?
Koinex is a legitimate website and I have been using this for a few months myself. However, it still faces the common problem every other provider in India does - delay in providing support - this is because the volume of users in India have been burgeoning and there are not enough cryptocurrency exchanges to support demand. https://ethexindia.com/ is the oldest Ethereum exchange in India and is even slower.
They don't give out an email contact but provide a contact page - https://koinex.in/support . I can suppose with the volumes they are managing now, they wouldn't want a flurry of emails.
Koinex is also among the most widely used exchanges by the members of the largest crypto FB group in India - https://www.facebook.com/groups/BharataFinance/ and the relative feedback on it has been good by those who have used it regularly.
With respect to reliability, all the popular exchanges (Zebpay, Koinex, EthxIndia, Pocketbits) are all in the same boat - they are simply not able to handle the volumes of KYCs these days and hence take a long time to process. While I had my KYC processed in Koinex in just a day or two, people now wait a week ore more. However, once you get this complete, things are smoother.
Zebpay is the fastest from what I've seen so far, but they only provide an option to buy Bitcoin and for Ether, you need to transfer your bitcoing to an exchange (or a website like changelly) to convert which would involve needless transfer charge.
PS: I never recommend anybody hold their investment in Koinex, or any exchanges, as mentioned in the article. Use them only for buying and selling, and not as a wallet.
I checked the team. Looks capable young engineers. I think the delay might be because of they are overwhelmed. Surprised that they are not putting the contact information - just copy paste it from angelist and put it there.
Yes - I do the same.
Thanks for the inputs.
I am actually siging up as alt coin transaction prices are quite low. Appreciate enlightening. (don't worry, all risk is mine! - I don't put money into this)
btw, check the discord for Indian community here: https://discord.gg/4UTDVMN you are welcome :)
Will do.... Thank you!