In what could be good news for over 5 million crypto investors in India, London-based online banking services platform Cashaa has reduced its service fee from 3.49 percent to 1.49 percent.
Not only that, the company has reduced the minimum deposit and withdrawal limit from 25,000 to 10,000 INR, making Bitcoin accessible to every Indian investor. Further, the users can also pay the fee in CAS token to get a further discount of up to 35%, making the net fee less than 1%.
Cashaa’s latest investor-friendly actions are in light of the fact that ever since it launched in India in October, the company’s volume has grown significantly to over $1 million, making company operations profitable in a short period of time.
On October 23, Cashaa launched a banking solution for Indian crypto holders. In April last year, the country’s central bank, the Reserve Bank of India (RBI), issued a circular in which it banned banks from providing services to crypto businesses.
Cashaa was able to deliver a smooth and secure customer experience through its non-custodial crypto wallet, which means it does not keep customers’ crypto in its control, making Cashaa the safest and cheapest place to buy Bitcoin in India. Cashaa made use of its vast trading network to create a peer-to-peer model for its INR services which enabled Indian residents to buy and sell BTC, ETH, and CAS on the platform.
Founded in June 2016, Cashaa currently offers personal and business accounts. A large number of its users are from India. Its services allow users to purchase crypto using credit or debit cards, deposit funds via bank transfer in over 200 countries and withdraw funds in users’ local currencies.