CoinDCX COO talks about low trading volumes since the arrival of tax laws
Indian crypto exchange CoinDCX, the first crypto firm to achieve unicorn status in the nation, has seen a huge decline in trading volume since the arrival of the 30% tax rule on crypto investments. In this context, the COO of the crypto exchange spoke to DeccanHerald and confirmed that his exchange hasn't given up on Indian investors.
CoinDCX trading volume drops 40%
Following the imposition of a 30% tax on crypto gains and a 1% TDS on all transactions, CoinDCX COO Mridul Gupta confirmed that the trading volume on the platform has plunged by 40% as the investors who bear the risk of investing in the volatile space will also have to face heavy taxes.Another cause for the decline in trading volume is the National Payments Corporation of India, which had recently provided "verbal instructions" to banks, due to which many banks ceased UPI or Unified Payment Interface to settle transactions for crypto traders. The UPI system makes it very easy to settle transactions via smartphones.
"We have to resolve this (UPI) issue, and we will. I do not have a time as to when it will be resolved, but the bigger problem is 1 percent TDS on crypto from July 1. That will dent an investor's pocket, which will, in turn, cause them to move to offline channels. That will bring down our volumes," said Gupta.
Small wins
However, despite the decline in trading volume, CoinDCX is celebrating the smaller wins for the crypto industry in India. "To our advantage, questions of banks have changed from basic ones like what is crypto to how transactions happen," Gupta said, hinting at the fact that the exchange has an optimistic view for the future.Gupta also said that since the regulations are being worked on. As a result, payment gateway hassles are temporary, and "there is no question of what if it doesn't happen. We have to somehow make it happen." as per Gupta. CoinDCX also plans to educate investors on crypto and blockchain investment in the near future.
"We already have a systematic investment plan product. We are working on various timelines for our SIP product. We want a lot of investors and not just traders," Gupta said.
100% Success Money Back Guarantee
If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Take your next step towards crypto success
$799/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
What’s included in Pro:
Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
Our latest memecoins pick with 50X potential
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the success guarantee work?
If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Recommended from Cryptonary
