We periodically review the coins listed on the CoinSwitch app to ensure they meet the highest standards.
Based on our recent review, we have delisted TrueUSD (TUSD) and Paxos Standard (PAX) to safeguard the interests of our users and the larger crypto ecosystem.
1. The 'Buy' option for TUSD and PAX has been disabled.
2. Selling of TUSD and PAX has been disabled from 4:00 PM IST on 7th October 2022.
3. The 'Sell' limit orders has been cancelled, and the locked amount has been credited back to your CoinSwitch wallet.
4. If you do not want to sell or withdraw your TUSD and PAX, you can hold them. However, you will not be able to trade, and we cannot confirm whether the coins will be relisted.
5. Crypto Withdrawals for your TUSD and PAX holdings will be enabled on 20th October 2022 for a period of 60 days.
Please find below the steps for the withdrawal process.
Step 1: Open the coin page (TUSD or PAX) on your CoinSwitch app, scroll down, and click on “Send TUSD” or “Send PAX” as per your requirement.
Step 2: Click on “ADD ADDRESS”.
Please note that a network/gas/transfer/ fee of approximately 3 TUSD/3 PAX will be applicable on all withdrawals.
This gas fee will be charged by the network, and CoinSwitch does not receive any part of this fee.
Step 3: Click on “I AGREE”.
Step 4: Enter your Wallet Name and Wallet Address. Please note that the wallet should be an ERC20 wallet. Double-check the details and click on “SAVE”.
Step 5: Once done, we will verify your wallet address and KYC details in 24 hours.
Step 6: After verification, go to the coin page and click on “WITHDRAW”.
Step 7: Create a ticket for Withdrawal using the below-mentioned link and details.
- Link: https://bit.ly/newcskticket
- Product > Crypto
- Query Type > Crypto Withdrawal Issue > TUSD/PAX withdrawals
- As an attachment, add a file of your Video KYC with wallet address confirmation.
Note: Video KYC with wallet address confirmation: The video should have the regular Video KYC content + the user should say “I confirm that XXXXX is my own wallet address” in that video.
Step 8: Once we validate your withdrawal request, we will initiate the transfer from our software wallet to your wallet address.
Step 9: After the withdrawal is initiated, it will take 3 working days (can extend depending on the blockchain) for it to reflect in your wallet address.
1. A network fee of approximately 3 TUSD/3 PAX will be applicable on all withdrawals. This fee is charged by the blockchain network and CoinSwitch will not benefit from it.
2. To withdraw your holdings, please share your Video KYC with our Support Team, and clearly state your wallet address and confirm that the stated wallet address belongs to you in the video.
3. ERC20 wallet: ERC20 wallets are digital crypto wallets that help you manage your Ethereum tokens. A few examples of ERC20 wallets are MetaMask, Atomic Wallet, Enjin Wallet, etc.
4. Gas Fee: A gas fee is a fee you pay to complete a transaction on a blockchain. It is used to compensate blockchain miners to verify your blockchain transaction.
To know more on listing and delisting coins on CoinSwitch, refer to this article.
Thank you for your support as we build a more transparent and sustainable crypto trading platform. If you have questions regarding your withdrawal, please contact us by creating a support ticket.