OpenRate Research
Everything we've learned about P2P crypto in India
108 articles on tax, regulation, exchange specifics, payment rails, arbitrage, and how to avoid the scams that show up on every UPI receipt screenshot.
Best payment method for P2P crypto in India: UPI vs IMPS vs NEFT
UPI is fastest and free under ₹1L per transaction; IMPS handles up to ₹5L per transfer with less AML pressure; RTGS works above ₹2L during banking hours.
Bank account frozen after P2P crypto: what to do (2026 guide)
Most P2P-related freezes are bank-internal AML holds, recoverable with documentation. Section 102 CrPC police freezes need a court application or NOC.
Best bank for P2P crypto trading in India 2026
Kotak 811, IndusInd, and Yes Bank flag P2P activity less aggressively than HDFC, SBI, or Axis. No bank officially supports crypto — use a separate trading account.
How does the UPI ₹1 lakh limit affect P2P trading?
₹1 lakh is the per-transaction UPI cap, but you can split or use IMPS. Here's how to size trades around it without flagging your bank.
What is a UTR and why does it matter in P2P?
UTR is the Unique Transaction Reference — the receipt number that proves you sent the money. It's the single most important piece of evidence in any dispute.
PhonePe vs GPay vs Paytm — which UPI app to use for P2P?
All three settle through NPCI on the same rails, so the experience is similar. The differences are in account-flagging risk and customer support.
Can I do P2P trades with cash?
Some merchants accept cash, but it's high-risk and triggers separate AML flags above ₹10 lakh. Here's why cash is rarely the right choice.
What is 'third-party payment' in P2P and why is it forbidden?
Sending or receiving INR from anyone other than the trader breaks AML rules and gets accounts banned. The reason is clean: it looks exactly like money laundering.
How does my bank statement look during a tax audit?
Auditors trace the full money trail. Here's what they look for and how to keep your bank statement audit-friendly.
Why do some merchants only accept specific payment methods?
Merchants prefer UPI for speed, IMPS for size, and avoid certain banks for AML reasons. Here's how to read their payment-method choices.