Great NEWS! for high-net-worth individuals (HNIs), institutional investors, premium clients, and OTC traders! SunCrypto, a leading FIU-registered crypto exchange in India, now offers a reliable solution for withdrawing large amounts of crypto in India.
SunCrypto’s Over-The-Counter (OTC) Desk provides a secure and private way for large-scale investors to handle transactions away from the public market. This service is a game-changer for those who need a dependable and safe method to withdraw crypto in India.
Why is it Difficult to Withdraw Crypto in India from Exchanges?
Due to a challenging regulatory environment, many cryptocurrency exchanges in India are currently not allowing users to withdraw crypto. Indian crypto exchanges face a significant hurdle because the government has not yet provided clear regulations for crypto transactions. This lack of guidance creates several issues, including:
- Cross-border risks: Without proper regulations, exchanges are more vulnerable to risks associated with international transactions.
- Operational disputes: Exchanges often encounter difficulties with banks when users try to convert crypto to Indian Rupees (INR), which can lead to complaints and legal issues.
- Lack of oversight: The absence of clear rules and tracking mechanisms for crypto transactions makes it difficult to resolve disputes and address cyber complaints.
SunCrypto’s Solution for Crypto Withdrawals
To address these challenges, the exchange SunCrypto has introduced a solution through its OTC (Over-The-Counter) trading desk. However, this service is not available to everyone. To ensure compliance and security, SunCrypto has implemented strict measures and is currently allowing withdrawals only for:
- High-Net-Worth Individuals (HNIs)
- Institutional investors
- Premium clients
- Users engaged in OTC trading on the SunCrypto application
Before any withdrawal is processed, the exchange conducts a thorough check of the source of funds and the purpose of the transfer. SunCrypto is currently evaluating a way to provide a legal and reliable withdrawal solution for retail customers as well.
SunCrypto has established a strong reputation in the Indian crypto market by providing a secure and reliable platform. The SunCrypto exchange leverages partnerships with global platforms to access a vast network of liquidity, allowing it to execute multi-million dollar trades without disrupting the market.
SunCrypto’s commitment to security is a top priority. A significant portion of its $50 billion in Assets Under Management (AUM) is held in secure cold storage multi-signature wallets, with Ledger providing additional custody. This robust infrastructure gives investors the confidence to withdraw crypto in India within a highly secure environment.
Benefits of Using SunCrypto’s OTC Desk
- Fixed Pricing & Zero Slippage: You get a locked-in price for your transaction, so you know the exact value of your withdrawal, avoiding potential losses from market price fluctuations.
- Privacy & Confidentiality: Your transactions remain private and are not listed on any public order book, protecting your trading strategies and information.
- Deep Liquidity: The desk can handle very large trades in a single transaction, making it easy to withdraw significant amounts of crypto without needing to break them into smaller orders.
- Personalized Service: You get a dedicated OTC manager who provides one-on-one support and guidance throughout the entire withdrawal process.
Steps to Use SunCrypto’s OTC Desk
- Email Inquiry: Send an email to the SunCrypto OTC team outlining your interest and withdrawal needs on corporate-kyc@suncrypto.in
- Dedicated Team Contact: An OTC manager will contact you to serve as your single point of contact and guide you through the process.
- Verification: Complete a thorough KYC (Know Your Customer) and AML (Anti-Money Laundering) verification, which includes submitting corporate documents like your CIN, GST number, and a formal board resolution.
- Trade Execution: Once your account is approved, you can request a firm quote from your OTC manager. After you confirm, the transaction is executed and the funds are transferred to your wallet.
Final Thoughts
The evolution of the crypto market in India demands sophisticated solutions for sophisticated investors. The traditional method to withdraw crypto is inadequate for those dealing in large volumes, especially in stablecoins like USDT.
SunCrypto is an ideal partner for those who need a reliable and efficient way to withdraw crypto without the risks of the public market. The OTC Desk is more than just a service; it’s a testament to
SunCrypto’s understanding of the unique challenges faced by a key segment of the crypto community and its dedication to providing a tailored solution to confidently withdraw crypto.
Disclaimer:- Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.