Bitcoin Forum

Buy bitcoin in India - Locked in rate, lowest rates




We are excited to inform the release of Zebpay Android’s latest version. The new version has a totally revamped buy bitcoin feature.

Firstly, we absolutely 100% guarantee lowest rates to buy bitcoins in India. We are adding more sellers in coming months which will make sure you get lowest rate in India :)

Also, you can now verify your ID from within the app.

Once your ID verification process is over, you can place a buy order and lock your rate. You can then make the payment within 4 hours via RTGS or NEFT. Once the payment is done, send us a payment reference so that we can track the payment, again, from within the app itself.


We are working hard to make it as easy as possible for our users to buy bitcoins and we look forward to your feedback. If you have any questions or concerns please mail us at support@zebpay.com

If you have not downloaded zebpay yet, download it now, https://dl.zebpay.com
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Reagrds

^^These are absolutely vague claim. How do you determine the current lowest rate in any specific country ? You may claim lower rates with respect to some specific platform. But, you never know what would be the lowest rate offered at LocaBitcoins.com/100bit.co.in/BitQuick.in by an individual seller at any certain point of time. People are already confused about bitcoin. Please dont confuse them more with all these imaginary claims.

Hi

Thanks for your feedback and I am 100% agreed that we can not compare our rates with 100bitco.in, bitquick.in or localbitcoins.

Actually what is happening in India is Unocoin, iGot  ( brokerage, OTC platform like Coinbase ) are big players and normally prices there was always higher and around 5% premium. Localbitcoins is almost always higher for new buyers ( traders buy low sell high, and almost all reputed traders have more than 5% margin there. So in India normally you have to pay 3 to 5% premium on buying bitcoins if you are new user.

We are simply trying to get rates in parity with USD rate, so new people who wants to try bitcoin does not feel that they are giving premium over rates in foreign exchanges. App allows you to buy monthly 10,000 INR worth of coins at the moment so it is specifically aimed at quick purchases to spend on something and for new users.

At this moment if you try to purchase 10,000 INR worth of coins our rates will be cheapest ( It does not mater if you buy 100 INR or 10,000 INR but just to compare with exchanges like CoinSecure )

The ultimate model is marketplace where we want all players in market to compete with each other give you best rates as our app is based on marketplace model. At the moment we have one seller, buysellbitco.in but let me assure you in coming months you will see few more options and app will book lowest rate possible ( Our app can add even localbitcoin or individual sellers subject to KYC AML ). Our business model is not buying selling bitcoins, its more related to adoption of bitcoins to new and general audience.  

After this initiative almost all players have brought there prices down now.

I hope I was able to explain why we claim lowest rate :)

PS : original announcement thread on India sub forums :
https://bitcointalk.org/index.php?topic=1093038.0


Thanks and Regards

Why your offer low rates only in india, good if you offer to all can buy low rates in zepbay apps. Anyway can i know what the price you call low rates

We  have banking channel available only in India at the moment, so we are supporting buy bitcoin feature in India only. We are working to launch next in Singapore.

As explained in above post with Indian market the issue was normally people had to pay appx 5% premium to buy bitcoins. We are trying to get it to in line with USD rates. All we want to do is get the base rate on platforms  like Unocoin, iGot ( platforms set prices there ) to almost similar levels or may be in the range of 1-2% premium. Competition is good.

Paying premium compared to world level is one of the argument we hear constantly from new users. New users normally get in with smaller amounts so we want to make sure for smaller amounts, when they are getting in, they do not need to pay premium.

Obviously we can not do it single handed at this moment, but we are hopeful if we can get our marketing initiatives correct, we will be able to pull this off. We are not worried about losses at the moment, as if market grows we will be able to recover our losses.

Regards