Coindelta was one of the famous and trusted exchanges in India because of their very minimal trading fees and both the website and App was very user friendly. The very little trading fees also burdened by the expenses required providing its optimum service and this leads Coindelta take the decision to stop their services.
“All the markets will be suspended at 1400 on March 30, 2019 and exchange will cancel all the open orders at the same time and the amount will be transferred to the users. We will continue providing wallet services until April 29, 2019. You are requested to withdraw all your funds within 30 days” Shubam Yadav, Founder of CD announced.
Coindelta offers trading more than 25 cryptocurrencies including most popular currencies like bitcoin, Litecoin, Etherium, ripple, USDT etc against the local currency (INR) and it also offers coin to coin trading.
Last day, 29the March 2019, the honorable Supreme Court of India was going to hear the regulations in crypto space in India, however the hearing was postponed because of the government was not given enough importance to regulate the crypto currencies. Many crypto enthusiasts in India were very disappointed about the Union government’s decision.
“Running the exchange is very expensive is such unfavorable moment. We’ve been operating at a minimal trade fee, bearing all the costs ourselves ensuring that you’re trading experience unaffected in the current unregulated environment” Coindelta added on their medium page.
Don’t Sell, Transfer it
Within hours of the CD’s announcement, another popular exchange Bitbns and WazirX has come to rescue crypto enthusiasts. BItbns posted on medium, that they are here to rescue Coindelta users migrate their fund to Bitbns. The exchange also announced that they will be waiving off or refunding any fee while depositing or transferring funds to their exchange from any other exchanges across the globe.
Users can also use WazirX exchange to transfer their coin from Coindelta and they announced 100% withdrawal refund for Coindelta users.
However, so many Coindelta users are complaining about the high transfer fees. So many users are raise complaint against CD. “First they create trust and loot at exist’– a users posted on Coindelta’s telegram channel.