Table of Contents
- Best Crypto Withdrawal Platform in India
- Understanding Crypto Withdrawals in India
- Challenges in Crypto Withdrawals in India
- What Makes Flitpay the Best Crypto Withdrawal Platform in India?
- Real User Experience at Flitpay
- How to Withdraw Crypto from Flitpay?
- TL;DR
"Crypto withdrawals are currently suspended, Please try again later."
If you've ever felt frustrated by seeing the notification when trying to withdraw your crypto from an exchange, you're not alone.
Many investors in India face this same headache and often find themselves unable to access their funds for seemingly no reason at all.
It's frustrating, isn't it?
That's why it's crucial to know about the best crypto withdrawal exchange or app in India that allows smooth crypto withdrawals so you can move your assets without roadblocks.
Best Crypto Withdrawal Platform in India
If you are looking for a trusted and secure crypto withdrawal platform in India, Flitpay is definitely the one for you. Among a long list of Indian cryptocurrency exchange platforms, Flitpay has established itself as a trusted name with over seven years of industry experience. Renowned for its user-friendly interface and accessible customer support, Flitpay has consistently navigated various market conditions. However, its Flitpay's customer transparency and proven historical record make it the best exchange to withdraw crypto.
However, this overview doesn't fully explain why it is the best crypto withdrawal exchange in India for you. To understand that, we must first delve into the complexities of crypto withdrawals and their common associated challenges.
Understanding Crypto Withdrawals in India
As many of you may already know, a crypto withdrawal is when you transfer your crypto from one crypto platform to an external address, like a wallet or exchange. For instance, transferring 0.5 BTC from platform A to platform B will fall under crypto withdrawal.
Here are some more things you should know about crypto withdrawals:
Processing Time:
Crypto withdrawals to an external address are often time-consuming, especially if they involve centralized platforms. Usually, it takes minutes to hours for a crypto withdrawal to complete. However, the exact time may vary depending on the network congestion, platform facilities, and other factors.
Network Fees:
Apart from the processing fee, Crypto withdrawals also require you to pay a fee in the same cryptocurrency that you are transferring or withdrawing. This fee goes to network miners or validators who verify and process the transaction on the blockchain. The exact fee varies with the network and depends on the speed of the transaction.
Purpose:
Another crucial aspect of crypto withdrawal in India is its purpose. This is because some crucial anti-money laundering regulations are in place that may prohibit you from transferring crypto funds to an illicit source or platform. Due to this regulatory framework, many crypto exchanges are unable to provide crypto withdrawals and are following stringent verification methods. Therefore, having a legal and valid purpose behind your crypto withdrawal is important.
Now that you understand the basics, it's time to comprehend the challenges associated with crypto withdrawal apps/exchanges in India.
Challenges in Crypto Withdrawals in India
Have you ever wondered why it's so challenging for platforms to process crypto withdrawals?
Well, the answer is not that easy, but we have simplified it to help you understand the complexities behind crypto withdrawals.
For entrants, withdrawing crypto by transferring it from a wallet to an exchange or vice versa can be an easy way to launder money and commit fraud. This is why it has become extremely important for cryptocurrency exchanges in India to scan all crypto withdrawal requests and details.
Another complexity is the compliance risk associated with it. Let's understand with a simple example.
Suppose the cryptocurrency exchange completes the KYC and AML checks of person "A" and successfully approves it. Now, person A deposits INR 10 lakhs, buys crypto and withdraws it. Let's imagine person A cheats on person B, and then person B complains to law enforcement.
When law enforcement investigates the matter and the person's bank accounts, it finds that person A deposited ten lakhs into the cryptocurrency exchange's account. To prevent the further flow of those 10 Lakh rupees, it often applies a debit freeze on the exchange's account. This means that even if person A has withdrawn the crypto worth ten lakhs already, the crypto exchange's 10 lakh rupees would be frozen, making the amount unusable for the exchange.
Often, when such cases are investigated, law enforcement agencies reveal that the exchange account was controlled by someone other than the one whose KYC was done. As a result, that money gets struck for unforeseen time, bringing trouble for the exchange.
Now, imagine the financial impact on the exchange even if it completes only a handful of such withdrawals.
To ensure the financial legitimacy of users, crypto exchanges perform due diligence checks or second-level verification before enabling crypto withdrawals.
Indian cryptocurrency exchanges face unique challenges because they are directly answerable to law enforcement. Unlike foreign exchanges that aren't registered with the FIU, Indian exchanges must comply with these requirements. Thus, they are still working to find more efficient solutions.
Due to all these challenges, only a few exchanges offer crypto withdrawals in India, and Flitpay is the best of them.
But what makes it the best crypto withdrawal exchange in India?
What Makes Flitpay the Best Crypto Withdrawal Platform in India?
Here are some key factors that make Flitpay the best crypto withdrawal platform/exchange in India:
- Withdrawal Fee
Flitpay's crypto withdrawal fee is among the lowest in the Indian crypto space, giving its holders a financially advantageous edge. For instance, the DOGE withdrawal fee on Flitpay is only 5 DOGE, regardless of the amount you are withdrawing. A low withdrawal fee helps you lose minimal crypto while transferring it from one crypto exchange to another. Thus, choosing Flitpay lets you save significant funds if you withdraw them. Apart from the low withdrawal fee, the trading fee on the platform is also highly competitive, making your trades as financially seamless as possible.
2. Proven Record
While most Indian cryptocurrency exchanges failed to sustain crypto and INR withdrawals due to adverse market conditions, Flitpay has stood strong. It is the only Indian cryptocurrency exchange that facilitates and has facilitated uninterrupted crypto and INR withdrawals in all market conditions, making it a reliable trading platform for those who plan to withdraw their funds in the future.
3. Complete Transparency
Many crypto withdrawal platforms claim to support withdrawals, only to later deny requests with unclear or arbitrary reasons. At Flitpay, you won't encounter such hassles. It clearly outlines all crypto withdrawal requirements upfront. So once you meet them, your withdrawal is processed smoothly and promptly.
4. Strong Customer Support
The availability of multiple customer support channels, like WhatsApp, Mail, and Telegram, makes technical support easily accessible. Unlike other cryptocurrency exchanges, where you need to communicate your issue entirely in Hindi or English, Flitpay allows you to express your issue in "Hinglish." Moreover, you can also send voice notes on its WhatsApp support channel to explain your issue more clearly. This helps you navigate steps in case you are stuck or confused.
5. Simple User Interface
One can't ignore the importance of a simple user interface while using an app, as it can significantly boost your overall experience. Flitpay's interface is one of the simplest in the crypto space and is designed for both beginners and seasoned crypto traders. It's crafted to make trading, buying, or staking crypto feel easy and intuitive—not like rocket science.
6. FIU Approved
Since the crypto space is full of fraudulent transactions and scammy platforms, it becomes extremely tricky for anyone to trust any platform with their hard-earned money. This is where FIU registrations help you navigate. Being FIU-approved makes Flitpay compliant with anti-money laundering regulations that provide you with a safe environment for trading and investing.
Real User Experience at Flitpay
Here's what Flitpay users have to say about its crypto withdrawal services:
How to Withdraw Crypto from Flitpay?
Follow the below steps to withdraw crypto from Flitpay:
- Open the Flitpay app on your mobile.
- Log in/Sign up to your Flitpay account.
- Tap on Wallet, a navigation icon located at the bottom bar.
- Tap on the Withdraw option.
- Select Crypto withdrawal.
- Choose the crypto you want to withdraw. For example, if you want to withdraw BTC, select Bitcoin.
- A customer support button will appear.
- Tap on it and select the support channel at your convenience.
- It will connect you to one of our technical support executives, who will assist you with the required documents for multi-level KYC.
- Flitpay will promptly proceed with your crypto withdrawal once you successfully complete your advanced KYC and other crucial criteria.
NOTE: Currently, Flitpay only allows withdrawals of selected cryptocurrencies, like BTC, DOGE, ETH, TRX, USDT, and XRP. However, the team is working to initiate the withdrawal of other cryptocurrencies soon.
TL;DR
To sum it all up, if you're looking for the best crypto withdrawal platform in India, Flitpay stands out from the rest. Unlike other crypto withdrawal exchanges that often frustrate users with hidden fees or confused withdrawals, Flitpay is clear, consistent, and reliable. As an FIU-approved exchange, Flitpay meets strict regulatory standards to ensure security and compliance for your funds.
With one of the lowest crypto withdrawal fees, a transparent process, and strong customer support, Flitpay has proven itself the best exchange to withdraw crypto in India. Whether you're an experienced trader or just starting out, Flitpay's intuitive design makes it the best crypto trading app/exchange for users at all levels. In a market where reliability can be rare, Flitpay gives Indian users the reliability they deserve.
