Binance loses India traders to WazirX, CoinDCX after crackdown

Binance loses India traders to WazirX, CoinDCX after crackdown - Qoneqt

Sonal Shridhar Shinde in India

Binance loses India traders to WazirX, CoinDCX after crackdown

Binances split with WazirX in 2022 had initially favored Binance, but a government crackdown on offshore exchanges in India has shifted the dynamics. Traders are now flocking to domestic rivals like WazirX, CoinDCX, and CoinSwitch Kuber. The removal of Binances app from Apples App Store further boosted the inflows to these local platforms. WazirX said volumes haven’t budged much, while CoinDCX said the slight uptick it’s noticed in the past two weeks may be more due to overall bullish crypto sentiment.

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