Flitpay exchange profile

Flitpay is an Indian custodial crypto platform with INR spot trading, a Quick Buy/Sell route, Earn products and crypto gift cards. Its website advertises more than 350 crypto assets, but that headline should not be read as a list of withdrawable coins: transfer availability is a separate property of each asset. A real-money spot account also needs to be distinguished from the company’s practice-trading environment.[1]

Order matching follows price and then time priority. An earlier order at the same price can fill before a later one, so a market touching the chosen level does not guarantee the customer’s order has executed. The help material does not establish a universal good-until date, immediate-or-cancel setting or advanced conditional-order catalogue.[7]

The Instant Listing distinction materially changes exit planning. Selling back into INR can be the normal available exit even where a token has an external blockchain elsewhere. A customer who needs delivery to a private wallet must check the platform’s enabled transfer status before buying; an internal balance is not evidence that its withdrawal route exists.[4]

At the entry tier, a hypothetical ₹20,000 execution produces ₹100 commission: ₹20,000 × 0.50%. A sale would leave ₹19,900 before any withholding, bank withdrawal or other charge. This calculation assumes the stated execution value; it does not promise a spread, fill price or a particular crypto quantity.[3]

Flitpay’s published withholding guide, dated 30 June 2022, describes 1% TDS on applicable sales and crypto-to-crypto trades, with the illustrated basis taken after the trading fee. It distinguishes buying crypto with INR from selling it. That operating description is dated: the final account deduction and current tax treatment must be reconciled with the customer’s records. A withholding amount is not the same thing as the final tax liability.[8]

The separate withdrawal declaration distinguishes transfers to the customer’s own wallet from transfers made for consideration. The published workflow asks the user to make the relevant declaration before withdrawal. It should not be interpreted as permission to bypass an exchange’s transfer controls or as a claim that every movement between wallets is a taxable sale.[9]

The standard withdrawal note allows up to three working days. Network charges on crypto withdrawals are separate from INR banking fees; Flitpay describes them as blockchain costs rather than its own transfer commission. The displayed BTC charge, for example, is asset-denominated and changes in fiat value with the BTC price.[10]

External withdrawals can require a second verification layer including statements, video verification and due diligence. The withdrawal policy expressly says supplying this material does not guarantee approval. Completing ordinary account KYC therefore does not establish an unconditional right to an immediate blockchain withdrawal through every supported asset.[16]

Flitpay describes holding most crypto in multisignature cold storage while maintaining operational liquidity in hot wallets. Its January 2025 cybersecurity article also describes encryption, multi-factor authentication, penetration testing and incident procedures. These are operator descriptions of controls; they do not independently quantify reserves, liabilities, loss coverage or the probability of a customer recovery after an incident.[21]

A separate funds statement updated 31 January 2024 says customer assets were backed one-for-one and describes Liminal custody infrastructure. That dated assertion is not a current audited balance sheet or proof that all present liabilities are covered. No customer insurance policy with a verified insurer, coverage limit and claim conditions was established from the reviewed statement.[22]

The privacy policy identifies transaction records, device information and account verification material among the collected data. It does not promise that closing a browser or deleting the mobile application deletes these records. The reviewed privacy and account terms did not establish a separate published inactivity-fee schedule or a guaranteed time for releasing a restricted balance.[24]

Flitpay’s current PMLA/KYC policy describes eligibility for Indian nationals residing in India. It requires identity and address evidence, PAN, a live selfie and information such as occupation, income and politically exposed person status. Companies need incorporation and authorization records. Verification of a bank or UPI relationship does not establish that every funding method is enabled.[26]

An older help page dated August 2021 says foreign citizens may open accounts. That older statement conflicts with the current India-resident wording, so unrestricted international onboarding is not established here. The general terms additionally exclude US persons and sanctioned or prohibited jurisdictions. The country reach displayed in marketing should not override these restrictions.[27][25]

Existing customers can also be prompted to repeat KYC. The re-verification guide uses the account’s existing PAN, a DigiLocker Aadhaar workflow and a live selfie. Returning to the application and submitting the final step matters: initiating a third-party identity check is not proof that Flitpay has received a completed verification.[28]

Ongoing due diligence can include the source of money, wallet counterparties and additional documents. An enabled trading pair, approved identity or successful INR deposit does not remove that review. Corporate and retail customers should distinguish permission to hold or trade an internal balance from permission to transfer the underlying asset externally.[26]

Flitpay publishes a support ticket route and official contact channels. Its contact page warns against unsolicited representatives and requests to send funds to a supposed bot-rectification address. Requests concerning account recovery or a bank change should originate from the platform’s genuine support path, with the account reference and the evidence relevant to that issue.[29]

KoinX’s current integration guide describes Wallet → Account Statement, selection of report type and period, and generation of a report delivered to the registered email. It recommends a complete history and fresh files for later transactions. This is the tax provider’s documented workflow; it was not verified by entering a customer account. An imported file still needs reconciliation for missing or duplicated transactions.[31]

The reviewed help pages do not publish an emergency telephone dealing service capable of preserving a failed trade price. Closing the app should not be treated as a cancellation instruction for an open order. Order status and any available cancellation confirmation need to be checked separately; the locked-balance article does not establish a universal outage resolution deadline.[30]

The general terms place disputes under Indian law and provide for a single arbitrator in Jaipur, with proceedings in English. No separately verified exchange-specific investor-compensation route or guaranteed complaint-resolution deadline was established from the reviewed terms.[25]

A Government of India parliamentary answer dated 30 March 2026 names Flitpay Private Limited, trading as Flitpay, in the list of FIU-India reporting entities as at 9 March 2026. The row has no inoperative marker. This is a dated official registration snapshot, not a continuously updated licence check.[32]

The same answer explains that FIU registration concerns anti-money-laundering and counter-terrorist-financing obligations. It warns that a list could be misunderstood as government licensing, approval or endorsement and as protection against fraud or loss. Accordingly, Flitpay’s marketing wording about FIU approval is not used here as evidence of prudential supervision, deposit insurance or a guaranteed investment recovery.[32]

The company’s history starts with a Bitcoin wallet application in 2017, records the move from its .in domain to .com in 2020, and describes the launch of its exchange and later mobile trading applications. These are stages of the same Flitpay service, not separate exchange entries.[5]

The current homepage claims approximately one million users or investors. That is a company marketing total without a dated active-trader definition. Other website counters describe downloads or country accessibility and should not be added together. A comparable current independently measured spot-volume series was not established from the primary material reviewed for this profile.[1]

A concrete recent change was the PUSH delisting notice of 27 August 2026. It stopped buying that day and set delisting for noon IST on 2 September 2026, asking holders to sell before the deadline. PUSH was described as an Instant Listing asset. That notice demonstrates why an assumed external-token withdrawal is not a reliable substitute for reading the asset’s actual exit instructions.[33]

Operator

Flitpay Private Limited

Exchange model

Centralised

Service scope

Custodial INR spot trading, Quick Buy/Sell and fixed or flexible Earn products.

Client types

Retail clients; Institutional clients

Pricing publication

Public pricing

Pricing scope

Volume-tiered spot commission; separate Quick Buy/Sell, network and banking charges.

Funding scope

Verified Indian bank transfers and enabled crypto networks.

Custody and asset handling

Exchange-held balances; many Instant Listing assets cannot be transferred externally.

Client eligibility

Current KYC policy describes Indian nationals resident in India; corporate onboarding requires business documentation.

Support

Support tickets and official contact channels; account and withdrawal review can require additional evidence.

Authorisation and registration scope

Government record lists FIU reporting-entity registration as at 9 March 2026. This is AML/CFT registration, not investment-service approval.

Exchange metadata checked 21 Oct 2026Source 29Source 17Source 6Source 3Source 10Source 1Source 4Source 26Source 33Source 11Source 32Source 25Source 16

An Earn allocation remains a product position until it is redeemed under its applicable rules. Logging out does not implement redemption. The overview does not identify a universal source of yield or establish that an advertised return is insured, fixed for all plans or equivalent to a bank-deposit rate.[6]

Flitpay’s published OpenAPI document exposes unauthenticated market-data endpoints: exchange information, market status, server time, system status and 24-hour tickers. Its examples include asset transfer flags, minimum amounts and market fee fields, but those example values are not a current account tariff. The inspected specification does not expose authenticated order placement, balance withdrawal or discretionary portfolio control.[34]

The public API therefore supports observation and integration of data. It does not by itself authorize a bot to trade a customer account. No separate execution-capable AI service or copy-trading mandate was established in the reviewed product material; any claimed third-party automation would need its own actual access mechanism and permissions.[34]

The referral page advertises 50% of a referred user’s trading fees, credited monthly, plus scratch cards of 250–500 FLT for signup and 50–100 FLT for a referral. FLT rewards are not INR cash, and a cash-redemption rule was not established from the page. Eligibility, forfeiture for artificial accounts and later program changes affect the amount ultimately available.[35]