How to Transfer Your Crypto from Binance to Indian Exchanges
Last week, the Financial Intelligence Unit (FIU) issued show-cause notices to Binance and eight other offshore exchanges. As a result, Apple has removed the Binance app from its App Store, and Indian telecom operators have blocked access to Binance and other exchange websites. This has raised concerns among Indian crypto investors about the safety of their funds.
To safeguard your funds, one option is to transfer them to FIU-compliant Indian exchanges. Mudrex is one such exchange that is 100% FIU-IND compliant and user-friendly.
Step 1: Download Mudrex and Go to the Cryptocurrency Coin Page
In the Mudrex app, click on “Coins” in the bottom bar and search for the coin you want to transfer. For example, if you want to transfer Bitcoin, click on “More” at the bottom and then select “Deposit BTC.”
Step 2: Initiate Withdrawal from Binance
Open your wallet on the Binance app and click on “Withdraw.” Choose Bitcoin from the list of cryptocurrencies and select “Send via Crypto Network” when the popup appears. Paste your Mudrex wallet address from Step 1, choose the same network, and enter the withdrawal amount. Click on “Withdraw” to initiate the transfer.
Step 3: Confirm the Deposit
Go back to your wallet on the Mudrex app and check under “Activity” for the withdrawal transaction you initiated in Step 2. Click on “Details needed to proceed.” Verify all the transaction details are correct, including the wallet address and network. Scroll down and click on “Verify deposit.”
Once your transaction is complete, you’ll receive a message confirming it. Your crypto is now safely stored in your Mudrex wallet.
Hot Take: Safeguard Your Crypto Funds with FIU-Compliant Indian Exchanges
With the uncertainty surrounding offshore exchanges like Binance, it’s crucial to transfer your funds to FIU-compliant Indian exchanges for added security. Mudrex is one such exchange that ensures compliance with FIU regulations while offering a user-friendly platform. Other notable FIU-compliant exchanges include Zebpay, Unocoin, CoinSwitch, and WazirX. By choosing these exchanges, you can have peace of mind knowing that your crypto funds are protected.
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