Welcome back,
If you are from India, then you might already be having a tough time dealing with cryptocurrencies. The reason behind this trouble is the regulations that were introduced by the Indian government in the last financial cycle.
After these regulations were announced, many people started moving their funds from Indian exchanges and from foreign exchanges that were registered under Indian rules in order to avoid unwanted taxes which are 30% or more than that.
Recently, one of the exchanges that I personally use sent me a mail stating that everyone from India must withdraw their funds by a particular date in November. After that date, Probit will stop functioning in India. This is because Probit has refused to comply with the rules and regulations that are being asked by the financial intelligence unit.
So Probit is not going to work in India anymore, just like how recently OKX refused to comply with regulations and now people in India cannot use OKX.
If you still have funds on OKX, you can withdraw them, but from Probit they are going to stop deposits and withdrawals after a particular date. So make sure to withdraw your funds from Probit. HIVE also trades on Probit, and I have used Probit many times for trading HIVE, but it is fine because now it is time to say goodbye to Probit.
For those who are from India and want to know which exchange they should use for trading HIVE, there are many options. There is MEXC Global, then Bitget, and you can also use the internal market of the HIVE blockchain.
There are also many trusted people who do peer to peer deals on the HIVE blockchain, so you can contact them. Even I buy and sell HIVE tokens, so if you want to deal, you can reach out to me.
This is what I wanted to share with everyone. Do not think that other exchanges will not be caught. Their turn will also come someday, and they will either have to comply with regulations or leave India just like OKX and Probit. So be prepared.
Above you can see that I withdrawn all my hive from probit to Bitget.
Learn to use decentralized exchanges. Learn to use Tribaldex and other platforms so that you are ready for what is about to come in the near future. The current government is not in favor of cryptocurrencies, and they are going to make it even more difficult for all of us.
So be prepared, keep researching, keep learning, and that is how you are going to win in every situation.
Thank you and happy trading everyone.
Posted Using INLEO