Coinbase suspended india ? | Bitcointalksearch.org

Oshosondy

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Quote from: BD Crypto on April 11, 2022, 02:06:32 PM

Binance is an exchange wallet which is called custodial wallet and Coinbase is an software wallet with the higher security.
I think you should use decentralized exchange wallets for better safety or use any hardware wallet if Coinbase suspended India.

Binance is a custodial exchange, it is not called a custodial wallet but a custodial exchange, Coinbase are of different types, there is on which is called Coinbase wallet which is a noncustodial wallet, but I would still not advise people to use it because Coinbase is confusing as it has other types which are:

Coinbase.com which is what they are focussed on on this thread and it is a custodial wallet
Coinbase Pro which is an exchange.

Binance and Coinbase.com are both centralized and can control users funds on it.

There is nothing like decentralized exchange wallet, if a decentralized exchange is having a wallet, that means it is also centralized, decentralized exchanges should work in a way the coins transferred should be from seller's address to buyer's address without no third party address involved. What you mean are noncustodial wallets, noncustodial wallet is the best wallet you can use for the safe keeping of your coins rather than depending on a centralized wallet or a centralized exchange.

BD Crypto

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Binance is an exchange wallet which is called custodial wallet and Coinbase is an software wallet with the higher security.
I think you should use decentralized exchange wallets for better safety or use any hardware wallet if Coinbase suspended India.

Charles-Tim

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Quote from: 325btc on April 11, 2022, 11:17:54 AM

So what is this ? Coinbase ? And btw who even use coinbase ? If we have binance i dont even see why coinbase ? If binance falls im out of crypto and btc

Binance is just like Coinbase, no difference, they are both centralized exchanges, you do not have to depend on centralized exchanges before you can use bitcoin. If bitcoin are stored on blockchain using addresses, then you can make use of noncustododial wallet, you will have your own private key that will generate you the addresses and you will have full control over your coins, unlike centralized exchanges like Binance or Coinbase that give you only the key, no private key and you have no full control.

Fortify

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Quote from: 325btc on April 11, 2022, 11:17:54 AM

So what is this ? Coinbase ? And btw who even use coinbase ? If we have binance i dont even see why coinbase ? If binance falls im out of crypto and btc
So it goes to btc and crypto simple.

It definitely falls in line with the more authoritarian and less democratic style of government that currently exists in India. It seems that the politicians in power there are showing that they would rather rule by decree instead of by census, especially when they're choosing to ally with somebody like Russia in return for cheap oil. It's been known that prohibition has failed countless times through the centuries, just look back at when they tried to ban alcohol in America and the war on drugs that has done nothing for the last two decades except fuel many murders. This is very similar, because crypto is so decentralized it's like trying to stop breathing or the human need for water, it's better to accept the reality and put effort into regulating it. Bans are the tools of weak politicians.

Upgrade00

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Quote from: 325btc on April 11, 2022, 01:25:23 PM

Either way if u want to exchange ur crypto to fiat at some point you have to through KYC process anyways or if u want to do privately deal then you got to trust someone

No you do not have to.
There are decentralized, P2P networks where one can trade without having to go through the KYC process, one of such platforms is Bisq. However such decentralized platforms usually have lower liquidity.

If you want to deal privately, yes, you would need to trust the buyer/seller or trust an escrow, if you both chose to use one.

325btc

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Quote from: Upgrade00 on April 11, 2022, 01:11:47 PM

Quote from: 325btc on April 11, 2022, 11:17:54 AM

If we have binance i dont even see why coinbase ? If binance falls im out of crypto and btc

Binance is a third party and not directly related to Bitcoin, so you shouldn't base your Bitcoin or crypto decision on them.
All centralized exchanges (coinbase and binance included) are prone to hacks and crashes and are dependent on the developers.
Bitcoin operates efficiently without them and if you wish to consider it, there are open source custodian wallets you can use, as well as decentralized P2P exchanges for exchanging Bitcoin, or just directly trade P2P.

• Do not store your funds on a centralized and custodian platform,
• Do not submit your personal details to them either.

Either way if u want to exchange ur crypto to fiat at some point you have to through KYC process anyways or if u want to do privately deal then you got to trust someone

Upgrade00

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Quote from: 325btc on April 11, 2022, 11:17:54 AM

If we have binance i dont even see why coinbase ? If binance falls im out of crypto and btc

Binance is a third party and not directly related to Bitcoin, so you shouldn't base your Bitcoin or crypto decision on them.
All centralized exchanges (coinbase and binance included) are prone to hacks and crashes and are dependent on the developers.
Bitcoin operates efficiently without them and if you wish to consider it, there are open source custodian wallets you can use, as well as decentralized P2P exchanges for exchanging Bitcoin, or just directly trade P2P.

• Do not store your funds on a centralized and custodian platform,
• Do not submit your personal details to them either.

KennyR

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The National Payment Corporation of India (NPCI) is a special division of RBI under the ministry of finance. The UPI payment portal is governed by the NPCI. NPCI did not recognize the legal standing of any crypto exchanges using the RBI’s United Payments Interface (UPI). This is the reason why coinbase suspended the UPI payments within few day of its launch.

Quote

Coinbase stated that it would work to remedy the situation in India with the appropriate regulators and that it was “committed to working with NPCI and other relevant authorities to ensure that we are aligned, with local expectations and industry norms.”
Coinbase suspends UPI Payments in India

325btc

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Quote from: fiulpro on April 11, 2022, 12:23:25 PM

The government is always keen on experimenting with crypto market and therefore they sometimes put things off them. The fact this coinbase was not suspended but they stopped it themselves because they were not too happy about the policy of the Indian government. Which I also think is a bit too strong at the moment. Plus this happened just few days after its launch. You should know there are other wallets and trading platforms that you could use in India. You can always use Zebpay and at the same time it would be wise to use local one's as well. Their stocks is also Fallin at the moment. We cannot expect much positive news from the day onwards tho. But you can always make a foreign account if you hold a temporary resident permit and also a foreign bank account as well.

Its called liquitity problems what else name it how you want it but its liquitity problems when there is no cash to serve all neeeds reasons will be all kind of
People who never learned about finances and economic factors and dont know deep how the market operates should never touch those things like btc.
Crypto is for smart people not those uneducated ones

fiulpro

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The government is always keen on experimenting with crypto market and therefore they sometimes put things off them. The fact this coinbase was not suspended but they stopped it themselves because they were not too happy about the policy of the Indian government. Which I also think is a bit too strong at the moment. Plus this happened just few days after its launch. You should know there are other wallets and trading platforms that you could use in India. You can always use Zebpay and at the same time it would be wise to use local one's as well. Their stocks is also Fallin at the moment. We cannot expect much positive news from the day onwards tho. But you can always make a foreign account if you hold a temporary resident permit and also a foreign bank account as well.

325btc

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Quote from: avikz on April 11, 2022, 12:06:25 PM

Quote from: 325btc on April 11, 2022, 11:17:54 AM

So what is this ? Coinbase ? And btw who even use coinbase ? If we have binance i dont even see why coinbase ? If binance falls im out of crypto and btc
So it goes to btc and crypto simple.

It doesn't look like a complete ban. From the article, I understand that UPI mode of payment has been withdrawn from the list of payment methods available. Any other Indian coinbase user can confirm this as I don't use Coinbase anymore and not planning to return to them. UPI payment method is created by Indian government and they have already created issues for the crypto exchanges. Majority of the crypto exchanges do not use UPI payment method anymore. But there are other methods available for them to use.

However, with the current government and their confusing leaders, India haven't yet got a proper crypto framework which can support businesses. So it's no wonder that crypto exchanges are having tough time operating in India.

Allright just market manipulation and fud ...as always yeah

avikz

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Quote from: 325btc on April 11, 2022, 11:17:54 AM

So what is this ? Coinbase ? And btw who even use coinbase ? If we have binance i dont even see why coinbase ? If binance falls im out of crypto and btc
So it goes to btc and crypto simple.

It doesn't look like a complete ban. From the article, I understand that UPI mode of payment has been withdrawn from the list of payment methods available. Any other Indian coinbase user can confirm this as I don't use Coinbase anymore and not planning to return to them. UPI payment method is created by Indian government and they have already created issues for the crypto exchanges. Majority of the crypto exchanges do not use UPI payment method anymore. But there are other methods available for them to use.

However, with the current government and their confusing leaders, India haven't yet got a proper crypto framework which can support businesses. So it's no wonder that crypto exchanges are having tough time operating in India.

325btc

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Quote from: Slow death on April 11, 2022, 11:24:04 AM

this is on all news channels

https://cointelegraph.com/news/coinbase-suspends-crypto-payment-services-days-after-india-launch

from what i read the suspension issue has to do with the regulators in india. well really with these regulators in india it will be very complicated for any exchange like coinbase to provide services in india

And those regulations started when people all ready invested in coinbase their funds never before

And off course today market falls so they can just watch their coins value going lower....and people tolerate this ?
Juridically ? How it all look like ?

Slow death

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this is on all news channels

https://cointelegraph.com/news/coinbase-suspends-crypto-payment-services-days-after-india-launch

from what i read the suspension issue has to do with the regulators in india. well really with these regulators in india it will be very complicated for any exchange like coinbase to provide services in india

325btc

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So what is this ? Coinbase ? And btw who even use coinbase ? If we have binance i dont even see why coinbase ? If binance falls im out of crypto and btc
So it goes to btc and crypto simple.

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