Bitcoin Forum

Dear Koinex team,

Since you have so aptly chosen to be inactive on facebook and have not answered my question there, here I am publicly asking you the same questions that I did there.

Firstly, I would like to know if you would be adding more tokens and cryptos to your platform. If so, is there an application form for new coin listing on your site?

Secondly, I do not have an Aadhaar number. I will not get it unless SC makes it mandatory. How can you force your customers to provide aadhaar if SC itself has made it clear that alternative ID can be used where aadhaar is not available. Why do you need to know which gas service I use for me to trade cryptos on your platform?
Why am I talking about gas service? Well, you can not only know that that, you can also find out if I have a health insurance FFS with aadhaar! Why being a private enterprise are you asking for these details?

I understand that this has become somewhat of a common practice since the introduction of aadhaar by our super duper intelligent government and Mr Modi. But is this not against the ideology of cryptocurrency as a whole?

Kindly let me know what is Koinex's stance on the whole issue.

~
Thanks

I was a very active trader and sold all my mined coins at Koinex since they had tighter spread, instant withdrawal etc....all was well until I tried to withdraw INR to my bank account. I made 3 requests in total (Feb-18), one was done the very next day and the other two are pending for more than a week now. Opened support tickets, sent bank statement to prove I haven't got them, sent tweets and fb messages. No response.

They keep adding new tokens and I guess the employees ride the dump and make some quick bucks..I was very happy with how everything went with this exchange, but their customer support really blows.

Now, I wil consider myself really lucky if I get my 22k+ INR :'(

Edit: 3rd March 18 , They have addressed the issue and responded to my mail. Looks like there was a huge amount of withdrawal requests made on last weekend when there was 'free trading' going on... They have promised to process all pending payments by monday 5th March.

Edit: 10 March 18, I have received full payment, but the delay was not very 'professional' or competitive while many exchanges offer instant withdrawal.

Agreed. There should be something like Binance coin of the month, but again unless there is some regulation then it would be a mess considering vote manipulation. Recently I cam across this https://bitindia.co/vote.html. You can literally use a temp email and vote which is not at all worth it. And Shitcoins will top the list.

I feel Koinex chooses coins based on their application and use cases. I am big fan of REQ and was surprises when it made there. Koinex is pretty active on Twitter but I doubt they will reply there also.

You better make one before March 31st. Pretty sure your bank accounts will be frozen after that. I guess All the exchanges use this norm for Tax purposes. Now that PAN and Aadhaar are linked, it is almost one for recording your TAX returns. If not entire black money would be converted to Bitcoin.

EDIT: 06/03/17 They are actually having a voting for the coin this time

https://koinex.in/vote

This is the reason i do not trade in Koinex , they are way to slow for withdrawals , 4 business days for a withdrawal is frankly way too slow in this competitive market where Coindelta and Bitbns super fast withdrawal within max 4 business hours .

I think this topic is diverting to Aadhaar basically Aadhaar is basic id verification anyone in India can make their Aadhar and its easy and strong then any verification method, I think that's why they added only option for Aadhaar and even new exchanges like WazirX KYC process is done using Addhar so please make this before 31st March.

I don't think you intended to say 'diverting to', "pertaining to" would have been the correct word. Regardless of your shoddy grammar, yes, it is pertaining to their usage of Aadhaar.
And if you did not parrot the overused description of what aadhaar was, I think most of us would have understood what it was anyway.

SC has indefinitely extended (indefinitely suspended) the mandatory linking of aadhaar with most services, that includes banks, phones etc.

I am fully aware that many startups are pushing for aadhaar because it makes it easy for them to just verify 1 ID rather than a separate address proof & multiple id proofs. But more so, it enables them to target people according in very particular niches. Which is what the whole invasion of privacy debacle is all about.

I want to know what Koinex's excuse is for using aadhaar and why are they forcing it on their users.

Koinex is good platform to trade BTC and other Altcoins.
Mails should be sent to all users about the addition of new coin on the site. It is like unleashing new opportunities for users to trade and earn more who don't understand big-exchanges like binance or bitfinex.

I think they are not yet prepared to bring in all the tokens for free. They are just adding some popular coins based on the volume charts and checking if they are getting some good volumes for these coins. So far their options have proved to be quite successful. Moreover I heard that they had a poll before they added tron and all on the site. They are really doing a great job for alt trading in India.

Just apply for an Aadhaar card. Simple! If you don't like koinex then use remitano. There are no documents verification here.
Bro, World is full of threatens. In school/college teachers threaten us to complete assignments else less marks will be awarded in the exam. Here government threatens us to link Aadhaar card to bank account, PAN, mobile phone etc.

Don't ever buy any crypto coin from Koinex, seriously they are scammers. I am warning you because of my personal experience with them, I completely lost my money and got nothing in return & as the Crypto is ban in India so we can't even file a case on them as Government have already declared that they won't be responsible for any Crypto scam.