Is Delta Exchange Legal in India? Is Delta Exchange Safe?
Indians are prohibited from engaging in spot trading of cryptocurrencies or crypto-assets on Delta Exchange. The restrictions on other services are not specified. The lack of explicit permits increases compliance and legal risks.
Choosing a trustworthy cryptocurrency exchange is crucial as it directly impacts the safety and security of your digital assets. The high risk of scams in this area necessitates extreme caution from users.
Our analysts have noticed a growing interest in Delta Exchange services among users in the India. However, questions remain regarding its safety and legal status within the India. Traders Union experts have addressed this concern by crafting a detailed review that explores both the pros and cons of using Delta Exchange.
So, let us tell you if Delta Exchange is allowed in the India and if it's safe to use for trading.
Is Delta Exchange legal in India? Does it have a license?
Currently, the Delta Exchange is not regulated at the government level, which remains a common scenario in the cryptocurrency market. However, such platforms generally fall short compared to exchanges with Tier-1 regulation, which signifies oversight by top-tier financial authorities such as the FCA (UK), SEC (USA), or ASIC (Australia), ensuring strict compliance with security and operational standards. We compared Delta Exchange with two Tier-1 regulated exchanges to help you make an informed choice
| Delta Exchange | Bybit | MEXC | |
|---|---|---|---|
Tier-1 regulation |
No |
Yes |
No |
Government-regulated |
No |
Yes |
No |
Successful hacks |
No |
Yes |
No |
Cold wallet storage |
Yes |
Yes |
Yes |
Investor protection fund |
No |
Yes |
No |
2FA |
Yes |
Yes |
Yes |
Verification (KYC) |
Yes |
Yes |
Yes |
Open an account |
|
|
|
Short summary about the Delta Exchange exchange
The Delta exchange offers futures, options, and interest rate swap trading with 1:100 leverage. There is also over-the-counter trading. Bitcoin, Litecoin, Ethereum, Ripple, Tether, Bitcoin Cash, Stellar, Tezos, and other cryptocurrency assets are traded on the platform, but there are no fiat funds. The exchange provides the standard TradingView web terminal and a proprietary mobile application with a simple but adaptive interface. Protection of user data and funds is ensured by multilevel encryption, two-factor authentication, and cold storage of cryptocurrency. The exchange does not set minimum deposits. Trading fees are fixed and fees are below the market average (0.1% for swaps, 0.05% for options). There is a one-level referral program and auto trading service.
| 💰 Account currency: | BTC, LTC, and USDT etc. |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:100 |
| 💱 Spread: | Market |
| 🔧 Instruments: | BTC, LTC, and USDT etc. |
| 💹 Margin Call / Stop Out: | No |
Delta Exchange Pros and Cons
👍 Delta Exchange Pros:
•all popular cryptocurrencies are traded on the exchange;
•mutually beneficial referral program;
•trading with leverage up to x100;
•no minimum deposit;
•low commissions;
•there are tutorials for beginners;
•robotic trading based on ready-made strategies;
•high level of platform protection;
•Bug Bounty program with large payouts.
•Significant options volume.
👎 Delta Exchange Cons:
•no investment decisions;
•no fiat;
•there is no call center.
•Spot volume is very low;
•Futures volume is mostly in BTC pairs.
Rules and Regulation
Licensing in India
Cryptocurrencies are not legal payment methods in India and the country does not regulate cryptocurrency activities. In December 2023, the Financial Intelligence Unit – India issued warnings to Binance, HTX, Kraken, Gate.io, KuCoin, Bitstamp, MEXC Global, Bittrex, and Bitfinex about their illegal activities in the country and, as soon as in January, blocked the websites of large crypto platforms.
Investor protection in India
Crypto traders in India are not protected by law.
Taxation in India
On April 1, 2022, the Finance Bill that includes taxation of digital assets came into effect in India. Any transactions with cryptocurrencies and NFTs are subject to a 30% tax and a 1% Tax Deducted at Source (TDS).
Do I recommend using Delta Exchange in the India?
The Delta Exchange cryptocurrency exchange will not be a good choice for traders from India. The company does not hold a license, although the main reason for that is that the financial regulator of the country does not license crypto exchanges in general. There have been security-related incidents on the platform, and the accounts are not protected in the best possible way. Also, users periodically have questions about the quality of the exchange’s operation.
FAQ
Can I work with crypto exchanges considering that they don’t have a license in India?
The fact that a crypto exchange does not have a license doesn’t mean that traders from India will have problems while working with it. Cryptocurrency exchanges are not subject to licensing in many countries, while there are many exchanges with good reputation. Assess the available information about the exchange and check its reputation.
What security methods for account protection do crypto exchanges employ?
Cryptocurrency exchanges may offer various security methods. These include the two-factor authentication, first and foremost, and also such methods as a security question, additional passwords, etc.
Can an exchange that has had a security-related incident in the past be trusted?
You need to check whether such incidents were regular. If it was one episode several years ago, while the reputation of the exchange is good, you can work with such an exchange.
Should I work with an exchange if I have doubts about its reputation?
No. Always choose the cryptocurrency exchanges that have a good reputation.
Related Articles
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).