Bitcoin Forum

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Dear users,

Thanks for all your love and support for buysellbitco.in (http://buysellbitco.in). We have managed to sell bitcoins to over 80 customers in last 2 months. Please feel free to leave your feedback here.

Edit : 26-Apr-2013
Buy Bitcoins :
Stock available now.


Sell Bitcoins to us :

Now you can sell your coins to us with next business day payment surety.

Dear Bitcoiners,

Sell your Bitcoins to BuysellBitco.in for INR. Convert your bitcoins to INR instant and fast. Get cash in your bank account in 1 business day.

Steps :
1. Contact us at buysellbitcoin@gmail.com for your sales inquiry. Please mention number of bitcoins you want to sell.
2. Rate will be always MtGox 24 Hr Avg BTC-USD , Xomm USD - INR conversion rate.

So for example, if you want to sale 5 Bitcoins, MtGox BTC USD 24 Hr Avg is 88.50 USD and Xoom USD/INR rate https://www.xoom.com/india is 53.57, we will pay you 5 * 88.50 * 53.13 = 23510.25 INR in your bank account

3. If the payout amount is higher than 20,000 INR, you will need to send us copy of your PAN card.

Cheers,
Buy Sell Bitcoin Team

If you have any question or concerns, please feel free to contact us at buysellbitcoin@gmail.com

My experience and transaction with you was excellent  .Very helpful and timely in response. Received the bitcoins  within minutes after i made the deposit.would definitely recommend the site .looking forward to many more transactions.. :)

As usual, when you transact with buysellbitco.in you rest assured about the price and delivery.

I personally meet them regularly for developments and this will be the main source for a secure transaction. You can also go with localbitcoins.com and rbitco.in

i am really confused at how the exact amount in INR is calculated per bitcoin.. i know its converted to USD then avg BTC @ mtgox.. what are your processing fees???  ???

Looks like a 10% markup? Is that correct buysellbitco.in?

Hi drdanishkhan

Yes it is around 10%. For normal calculation you can always consider this as good base margin. But the calculation considers lots of other factors too.

For example you can not take MtGox Last as your selling base price as the last price can be of trade for 0.1 BTC too. You need to always take MtGox order book ask side for at least 100 BTC volume and get the avg price for that.

Also there are lot of other factors we need to include like exchange fees, our currency conversion charges, risk factors, our expenses, our margin, taxes, market trend ( At the moment if you will see carefully selling bitcoins over the counter is less profitable than just hoarding them. ) So if you think we are making straight 10% than its a bit over estimate :)

Cheers

Okay thank you for the info.
I also wish to know that if i use the wallet address of mtgox then the coins i buy will be transferred directly to my mtgox account??

Yes.

Cheers

Thaaank you so much.. i really hope the site gets stocked up soon.. cant wait to start bitcoining :)

I have already made 2 or 3 purchases from buysellbitco.in and i must say they were the most flawless ones. I had the funds in my wallet before i even got the chance to send out a photo of the deposit slip..

Sadly, they're out of stock for now..... Seems like the demand is pretty high in India...

Are yo guys 100 % sure you will be restocking on the 10th?

Hi StLucifer,

Thanks for kind words :)

Most probably we will have the stock before 10th, but its always better to under promise than over promise.

Cheers

I am doing my first bitcoin trade. I am excited. Thank you BuySellBitco.in for prompt and quick responses. Hope everything goes well:)

Awesome!!!
I have the cash ready!
Just say the word, and its all yours!!!
 ;D ;D

@all, my transaction was complete and I am very happy to deal with BuySellBitco.in. I suggest BuySellBitco.in to everyone here:)

Where are you from?

bombay

tryingtobeperfect CAN able to buy bitcoins from buysellbitco.in today, while stlucifer CAN'T, coz out of stock.
out of stock to some persons & not to others?

Hi dishwara,

Actually tryingtobeperfect has sold coins to us. stlucifer wants to buy coins but we will re-open for buying on 10th.

Cheers

yes, sorry. I didn't read his other posts.

No worries :)

Cheers

@dishwara, as BuySellBitco.in said, I dint buy any but sold a lil.

awesome!

well,
its the 10th. althugh a bit early  ( 9 am ).
the site still says "restocking on 10th"...
hoping it will be up by 10 - 10:30.

Price has already gone up by abt 5 - 6 % since last night.....

Do you want to buy?

yes...
local meetups aren't really my thing though....
I have trust issues

Meetups are the most decentralized exchanges that we will ever accomplish.

Until banks shut down and acknowledge private currencies.

Check PM!

You are absolutely correct but one should be Okay to meet directly.

I have trust issues as well. Cannot move out of my boundaries.

We are open for orders but due to huge demand we had to reduce maximum order size to 8,000 INR so we can serve maximum customers.

Thanks,
Buy Sell Bitcoin

once again a flawless transaction.
Placed the order, stepped out, deposited cash, and half an hour later, the transaction is already on the blockchain (unconfirmed of course ).
This time I didn't even bother trying to scan the deposit slip.

10/10 for ease of use.

Also, one tiny thing that i noticed: in the amount of time it took me to go deposit the cash and get back ( at most half an hour ) bitcoin price went up by about Rs 1000.

To put things in Perspective, my very first purchase of bitcoins was from a member on the forums here,  for Rs 605/btc. That was september of last year.

and it has crashed.....
Nice....
time to buy more......

When is it gettin restocked..

A+, nice guy, smooth trx.

PMed

you got to have bitcoins to sell at in these times ( if you are aiming to be indian bitcoin exchange )

Dear users,

Stock available now. Please note our bank account information has been changed.

For NEFT transfers, please contact us as buysellbitcoin@gmail.com

Cheers
Buy Sell Bitcoin

What about IMPS transfers and is there any way to notify you that we are returning sellers so that it speed up the transaction.

IMPS we are looking into it and most probably we will have it at least for paying to our users.
Can you please explain below, as I am not able to understand the question 

 and is there any way to notify you that we are returning sellers so that it speed up the transaction.

The mobile number is tied up to your bank account in IMPS. You will get a notification once the payment reaches your account.

Axis to Axis bank took us under 1 minute. I assume that the buyer needs to mail details of phone number and Bitcoin address separately.

So it is MTGOX price + 10% basically on buysellbitco.in

No particular advantage over other sellers, but it would still be great if the same ratio is maintained when price drops [and off they don't go out of stock :P].

Mistake or Joke?

buy : Rs8199.75  sell :Rs321.61

Where do you see this ?
Atm I see below
buy : Rs8204.79  sell :Rs7196.14

There is some issue with MtGox API and because of that the price is being displayed as wrong. We are working on it and it should get resolved in next few minutes. Thanks for reporting the issue.

Regards,
Buy Sell bitcoin

It is fine now:)

It is back working now, you can place sell orders as normal. Thanks for your support !!!

Regards,
Buy Sell bitcoin

if i buy bitcoins and place address from mtgox bitcoin transfer funding window my btc will reach my mtgox account directly???

Yes.

Cheers

thank you sir..

It says I have to deposit cash within 4 hours.
If I book an order after 6 pm on a working day, how would I deposit the money??  >:(

Dear user,

That order will get canceled automatically and you will have to generate new order on next day if you want to purchase.

Regards

The minimum amount that can be sent is ? Like if i want to buy 0.5 btc , is it possible ?

Minimum  amount is 5000 INR and maximum amount is 19,900 INR.

Regards

Tested this service today . they have a real good  service prompt and  quick response time.
Recommend them for emergency small buys . [You guys should have to find a system to make larger purchases possible, may be take cheques]
Thumbs up .

But the bankers there  was not really nice. 

Thanks for kind words :)

You can purchase using NEFT for larger purchase and that way you will also avoid visiting bank.

You can apply for NEFT by sending scan copy of your PAN card ( Must be very clearly visible color scanned copy ) to our email address to get verified. Once your account is verified you can pay us using NEFT and can buy coins upto 1,00,000 INR in single transaction.

To buy more than 1,00,000 INR worth of coins in single transaction you will have to use RTGS.

Please feel free to get back to us in case you have any questions or concerns.

Regards

Completed.
+1 for buysellbitcoin. Very smooth and interactive CS as well.

The site is showing runtime error.. Guys its raining coins. c'moooooon  :-[ :-[

buysellbitco.in and bensonsamuel.com were under DDOS's last week.
buysellbitco.in pulled down his website at that point.
Mine just keeps getting knocked down.. Moving DNS back to bensonsamuel.wordpress.com

Why dont you guys  just  use cloud flair . much better   at handling  these types  of   attack.

Yeah, but the anti DDOS pack from CF costs quite a bit for a non commercial site like mine.

just get a  free package.  that can  handle most  dns amplified attacks and  Slowloris attacks. some  protection is better  than none.

If I am not wrong, free pack does come with support for DDOS.
But I will check on it.

yup the  free package does protect  you from ddos attacks.  and that too  quite  well. 

i use the free  package on all of my  websites.   and my clients  are  happy. 

Nope, I was wrong. DDOS protection is not free, but I will enable it on my website.

Thats  strange, i  know  the  ddos prevention was there on the  free  account .  guess they may have  changed the  offers. hope that they havent  removed that from the older  account. or else i'm fucked.  

Our host got ddosed :(
Site should be available in next 1 hour. Just for your information, we are not selling coins from yesterday as we need to change our deposit methods. It has nothing to do with current price drop. We will start selling again from tomorrow.


We do use them already.Frankly speaking they are not enough to prevent attacks on bitcoin sites. They are good only for speed improvements and availability. We faced some really sophisticated attacks last week, thankfully we do not store anything on online server.

Site is back now. Please note that it may get periodic disruptions in this two days, as per our host.

Thanks,
Buy Sell Bitcoin

Okay. I hope you guys didnt have any losses.
Secondly what kind of payment are you talking about
Will the direct HDFC deposition method not be available??

Now onward we will be able to support only NEFT, RTGS and cheque deposits. Bitcoins will be sent once payment is realized in our accounts.

For NEFT and RTGS, you must send us copy of your PAN Card if the amount is above 20k INR.

We may support cash deposits again in future but not for now.

We are also trying to add more banks like SBI, Axis and ICICI.

Thanks,
Buy Sell Bitcoin

Its a great thing you people are allowing NEFT.. can you please add SBI.. would be extremely helpfull..

Adding SBI is already on the way. Should be there in next 20 days or so ( Yes it takes that long to get it properly working with company bank accounts :) )

We are also looking into IMPS payments, but as of now it looks like they can be charged back.

Thanks,
Buy Sell Bitcoin

Good work people..

Thank you for the smooth trade.

Why is there no buy sell rate showing on the website  ???

We had some issues with our Rate Api.

It is resolved now.

Thanks,
Buy Sell Bitcoin

Bump

Now supporting NEFT and cheque deposits.

Cheers

May make sense to start a new topic in the main thread as this is a new update.

I have a feeling this has been resolved, but anyways, my friend Dashing told me to contact you to help you out a few days ago, I forgot back then, just remembered a minute ago and hopped on to ask if you needed any help ?

i do kn0w some people who have good experience with this site. Quite fast and straight forward . Good service :)

Update

Running 5% discount till 1st June. Grab cheap bitcoins :)

https://bitcointalk.org/index.php?topic=218987.msg2303956#msg2303956

Raining Cheap Bitcoins - 5% discount till 1st June!!! use coupon code - BTCWEEK05
@BuySellBitco.in, good going bro:)

Regards

Thanks for kind words :)

Cheers

So I am guessing you have had an encounter with a regulator regarding the multiple cash deposits....

This brings up the issue of loss of anonymity.

The Indian Government is pretty tight when it comes to money. They want to know about every single paisa you make or spend.
They want to know whose ass it came out of and whose ass its going to next. And they want to see pictures too. Hi-Resolution.
Maybe even a Slow-Mo Video..................

On the flip side, obtaining bitcoins is going to be even more convenient.
Login to netbanking, transfer funds, and you don't even have to move your butt out of the chair...
Very Nice.

We do believe it is not good to do business anonymously or provide platform for anonymous transactions. Before the transactions were small and volume was low, so it was kind of manageable.

Now lot more people have learned about bitcoins and the volume has gone up significantly. It is recommended and advisable to have all the transactions go through proper channels.

PS : When you visit bank, you never had anonymity :)

We are committed to do business with legal obligations and respect laws.

Thanks,
BuySell Bitcoin

+1

We are collecting Feedback / testimonial in below thread. Please leave your positive / negative comments there

https://bitcointalk.org/index.php?topic=295288.0


Cheers

First transaction with buysellbitco.in - bought BTC0.15000000BTC

First Impressions

Whole transaction was smooth right from the get go. Sent my PAN card which got verified within 1 hour itself. Booked the order on Saturday itself but due to issues with bank NEFT could not transfer the money. Got the order ID # and as per team, it would be locked in for four hours, but since my order was on a weekend, they were extending the rate till the money actually hits their account. Finally did the transfer today. Received the BTC almost immediately, confirmed by 20 txs within 10 mins. Very smooth and reliable deal, my first time ever in BTC. :D 8)

Special Mentions

Here I would specially like to thank Jincy for guiding me through the whole process. She patiently answered all my queries and was guiding me through the whole process. I couldn't wait to get home from office and start my client to see the balance hit my wallet! Extremely professional approach to the whole thing, much more than other BIGGER companies I have dealt with in other transactions. However I tried calling the person on the main mobile number (I believe Gujarat) but the call is always busy. He also didn't call back either. Too much business for obvious reasons in GJ I believe LOL. I liked the fact that they locked in the rate, which works both ways - I actually got 2% extra; BTC 0.1504 against my order of 0.1500 which I really appreciated.

All in all, very professional experience - well worth the premium paid, takes off the headache and nervous moments. If you are a newbie, go for buysellbitco.in

Cheers

Absinthe

@BuySellBitCoin I was checking https://buysellbitco.in/buy where u have option of Net Banking ( NEFT/RTGS )  and IMPS. I would like to know if these payments are confirmed manually or automatically before trading begins ?

You seem to be asking this question to all exchanges. Any reason why?

There is a way to run an op like this both automated or manually.

This can be automated but it has a lot of cons and we always recommend to have all payments ( incoming or outgoing ) processed manually until it is done using some kind of payment processor.

Regards

@Benson Samuel Yah I asked this same Q to ibitcointrade and INRBTC as well. The reason is that, I want to figure out if anyone of them is running automatic exchange. I believe Mt. Gox, BitStamp and BTC China are automatic (Please correct me if my guess is wrong) and that is why they can handle such a huge trade. I guess they have some kinda API to access their EFT but do we have something like that for NEFT ? I think CCavenue or similar things wont do as they have chargeback.


What is the way to run an automated exchange in India ?

@buysellbitcoin At this moment you are handling transaction manually. But the way yourname is spreading out, chances are there you'll be flooded with transaction requests everyday in 2014. Do u plan to still operate manually ?

We already have automated API to confirm FIAT incoming deposits, but we are not using it as of now as its too error prone and can pause security issues. We have very simple policy as of now. All payments in and out whether bitcoin or INR are processed offline in secure environment.

Regards

@BuySellBitCoin API with error !!! Is it your in-house development or any commercial API ? If it is a commercial one would u mind to specify ?

When you are going to resume your services?

Whats the status?