GetBit exchanges leaves India

GetBit has posted a notice on their application and website stating that they are soon going to discontinue their operations in India. In fact, INR deposits are no longer being accepted on the GetBit. 

If you are an Indian citizen and have funds on GetBit, you must get your balance out from exchange in BTC or INR by end of October 31st 2026. 

After this date, any bitcoin in your account will be sold automatically, converted to INR and credited to your bank account. 

Self custody is available for bitcoin only. GetBit was one of the few exchanges that offered this feature as most only allow withdrawals in INR and not in cryptocurrencies. 

More and more exchanges are leaving India during to overly strict regulations. India also banned a crypto project website coinmarketcap two weeks back. 

GetBit offered low fees and quick withdrawals which is why it gained traction so fast in India. This leaves them with CoinDCX which does not offers self custody, that is, ability to withdraw coins to their wallet.