SunCrypto trading app
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SunCrypto expands offerings as India’s regulated crypto market shifts focus to security and compliance
The Economic Times· 2026-02-09 12:58
Core Insights - SunCrypto is recognized for its focus on simplicity and extreme security, making it a leading crypto trading app in India for both beginners and experienced traders [1][9] - The platform automates the 1% Tax Deducted at Source (TDS) on all sell transactions and crypto-to-crypto trades, providing detailed tax reports that comply with Schedule VDA requirements for Income Tax Returns [1][9] - SunCrypto has launched a sophisticated web trading terminal for advanced users, enhancing its offerings beyond the mobile interface [2][9] Tax Compliance and Reporting - SunCrypto simplifies VDA taxation by automating TDS, ensuring users' TDS is correctly mapped to their PAN and reflected in their Annual Information Statement, thus reducing the risk of tax notices [1][9] - The platform provides downloadable tax reports that align with Income Tax Return requirements, facilitating seamless tax compliance for users [1][9] Community Engagement and Education - The "One Trade For Nation" initiative allocates a share of trading fees to support the families of India's martyrs, reflecting SunCrypto's commitment to social impact [2][9] - SunCrypto Academy offers localized educational content in multiple Indian languages, addressing the knowledge gap regarding high leverage risks and the benefits of automated SIPs [3][9] Security Features - SunCrypto prioritizes security by adhering to strict local regulations, encrypting personal data, and using multi-signature cold wallets for user funds [4][9] - The platform employs "penny-drop" verification and a mandatory 5-second Video KYC process to enhance user verification and security [6][9] - SunCrypto is a fully FIU-registered platform, ensuring compliance with anti-money laundering regulations and protecting users from unaccounted financial transactions [4][6][9] Trading Features - The platform supports high-volume OTC trades for various assets and offers advanced trading features such as integrated charting powered by TradingView and order management tools [5][9] - Users can access up to 150x leverage on Bitcoin and Ethereum futures, utilizing "Isolated Margin" to safeguard their remaining wallet balance [4][9] Regulatory Compliance - SunCrypto operates as a 'Reporting Entity' under the Ministry of Finance, adhering to anti-fraud rules similar to those of banks, which enhances user trust and security [10][9] - The platform benefits from support from Indian banks for quick deposit and withdrawal services, providing a more convenient experience compared to offshore platforms [10][9]