Why Koinex Halts New Registrations and How to Secure Your Crypto Investments

Koinex, one of the prominent crypto exchanges in India, is currently facing significant issues that are preventing it from handling deposits, withdrawals, and customer queries. This has resulted in a halt on new registrations. Here's all you need to know about this situation.

Koinex's Current Issues

As of now, Koinex is not able to process any new registrations, and all ongoing transactions have been halted. This includes deposits, withdrawals, and addressing customer queries. The platform is currently in an unstable state, and users are unable to access their funds. Though Koinex was supposed to resolve these issues by the end of last week, no progress has been reported.

Users are advised to stay away from Koinex until the situation stabilizes. If you're unable to withdraw your money, it's recommended to consider alternative exchanges such as Zebpay or Unocoin. Although these platforms also face similar issues, they tend to rectify them more quickly.

Alternative Crypto Exchanges

Here are some reputable crypto exchanges that you can consider:

Zebpay Unocoin Kucoin Binance Koinex

To ensure a safe and hassle-free experience, we highly recommend creating an account on these exchanges. They are known for their robust security measures and efficient customer support.

Official Statements from Koinex

According to official statements, the halt in new registrations is due to a high volume of KYC (Know Your Customer) requests. Initially, the verification process was taking just a day. However, it was extended to 3-4 days and later to a week due to the overwhelming number of registrations. Unfortunately, the current situation has rendered the KYC verification process completely stopped.

Users are advised to follow the latest updates on Koinex's official Twitter and Facebook pages for any updates on when the verification process might resume.

Tips for Secure Crypto Investments

To safeguard your crypto investments, it's crucial to:

Choose trusted and well-regulated exchanges Enable two-factor authentication (2FA) for added security Keep a backup of your crypto wallet Monitor your account regularly for any unusual activities Stay informed about the latest industry news and trends

By following these tips, you can protect your investments and ensure a secure trading experience.

Note: This information is provided for reference purposes only. Always exercise caution when dealing with cryptocurrency and consult official sources for the most current and reliable information.