Question 1

My KYC is not yet approved, and it’s been more than three days. What should I do?

Accepted Answer

If your KYC is delayed for more then 3 working days, please contact us at compliance@copperx.io. Make sure to provide your registered email address.

Question 2

What is the withdrawal fee for individual?

Accepted Answer

Please check fee for individual here

Question 3

Should I choose a local off-ramp or international remittance?

Accepted Answer

It depends on your needs. Local off-ramps convert crypto to INR locally, following Indian laws and regulations. A 1% TDS will be deducted by our local off-ramp partner, and the transaction will be shown as a crypto off-ramp in your ITR. The local off-ramp has a lifetime limit of $20,000.

If you are earning crypto through global companies or freelancing, you may choose the international off-ramp. Our international payment provider converts crypto on the international market and sends you remittance. International transactions have no limit, but additional information may be required for large transactions.

Question 4

What are the conversion rates like in India?

Accepted Answer

| Method | TDS | Rates | | --- | --- | --- | | Local Offramp | Yes, 1% | Approximately ₹85.38 per Dollar | | Remittance | No | Approximately between ₹82-₹82.5 per Dollar, after deducting the fee |

Question 5

Will there be a 30% tax for off-ramping?

Accepted Answer

We do not deduct any taxes from transactions. Consult a crypto-friendly CA who knows about crypto taxes well for specific tax obligations.

Question 6

What is Copperx Payout?

Accepted Answer

Copperx Payout brings an on-chain banking experience by providing a suite of comprehensive tools for your financial needs. With Copperx Payout, you can convert Digital Dollar (USDC) to native currencies (fiat) in over 50 countries. It also offers various on-chain banking features such as multi-chain deposits, third-party payouts, sending money to email, managing employees and contacts, scheduling payouts, inviting team members, and withdrawing USDC to your wallet.

Demo Video

Here is the demo video showcasing Copperx Payout workflow.

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