Coinbase issues clarification after reports of it ceasing services in India

Coinbase has actually issued an explanation after a flowing report suggested that it would soon stop all operations for its Indian customers.According to a Sept. 11 report from TechCrunch, Coinbase India users were apparently alerted by means of e-mail that all services would be discontinued by Sept. 25, and were advised to eliminate any funds that stayed on the exchange.Coinbase stated in an email that it would stop providing all trading services to users in India after September 25 and encouraged users to withdraw all funds in their accounts. In addition, Coinbase has prohibited Indian users from registering on the exchange, advising them to download …– Wu Blockchain (@WuBlockchain) September 11, 2023

” Affected users funds remain safe with us, and they continue to be able to withdraw their balances and send to other crypto service companies till 25 September. Users from India who attempt to sign up for an account on the Coinbase exchange will see the following webpage. India-based users attempting to sign up are rather prompted to download Coinbase Wallet.

Users from India who try to sign up for an account on the Coinbase exchange will see the following web page. India-based users attempting to sign up are rather triggered to download Coinbase Wallet. Indian users who had actually purchased crypto prior to the UPI shutdown on the platform might trade existing crypto properties in their wallets with other users by way of peer-to-peer or P2P trading.

Indian users who had actually purchased crypto prior to the UPI shutdown on the platform might trade existing crypto assets in their wallets with other users by method of peer-to-peer or P2P trading. As of the time of publication, Indian users on Coinbase are just able to existing crypto possessions from their accounts. Magazine: NFT collapse and monster egos include in new Murakami exhibition

Other Questions People Ask

What clarification did Coinbase issue regarding reports of it ceasing services in India?

Coinbase clarified that it will indeed stop providing trading services to users in India after September 25. This announcement followed reports that Indian customers were notified via email to withdraw their funds before the deadline. The company emphasized that while trading will cease, users can still access their funds and withdraw them to other crypto service providers until that date.

How can Indian users manage their funds after Coinbase ceases services in India?

Indian users are encouraged to withdraw their remaining balances from Coinbase before the September 25 deadline. Although trading services will be discontinued, users can still transfer their crypto assets to other platforms or engage in peer-to-peer trading with existing holdings. It's crucial for users to act promptly to ensure their funds are secure and accessible.

What happens to new registrations from India on Coinbase after the service cessation announcement?

Following the announcement, new registrations from Indian users on Coinbase have been halted. Instead of being able to create a new account, these users are prompted to download the Coinbase Wallet. This change reflects Coinbase's shift in focus for Indian customers, allowing them to manage their crypto assets without engaging in trading on the platform.

Can Indian users still trade crypto after Coinbase stops its services?

Yes, Indian users who had previously purchased crypto can still trade their existing assets through peer-to-peer (P2P) trading methods. Although they cannot engage in traditional trading on Coinbase, they can utilize their wallets to interact with other users. This allows for some level of trading activity even after the cessation of services.

What should Indian users do if they received an email about Coinbase ceasing services?

If Indian users received an email regarding the cessation of services, they should prioritize withdrawing their funds from Coinbase before September 25. The email serves as a notification to ensure users are aware of the upcoming changes and can take necessary actions. Users should also explore alternative platforms for trading or managing their crypto assets moving forward.