Crypto Trading on P2P Platforms, Telegram, and WhatsApp Dominate in India

BeInCrypto –

Indians are turning to P2P platforms and groups on messaging platforms to facilitate crypto trades as banks implement obstacles to such trades.

While the Indian government deliberates over regulating the crypto market, citizens continue to put capital into the market via P2P platforms. Local media reports indicate that crypto investors have turned to P2P platforms and groups on Telegram and WhatsApp to facilitate trades. These platforms reportedly account for about 60–80% of all transactions.

The news follows reports that one of the most popular banks in the nation, State Bank of India, blocked fund receipts by crypto bourses on the national payment platform, UPI. This has led to a greater number of investors turning to other methods.

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