Bitcoin Forum

Hello, from 100bit.co.in. This is a new platform allowing buyers and sellers to directly exchange FIAT and Alt coins with each other against bitcoin. It is free to join the platform and exchange cost per trade is 0.1% of the trade amount. We announced start of our work in March 22, 2014 (https://bitcointalk.org/index.php?topic=526706.0) and now our BETA platform is ready. At this moment we are looking for some active traders...

Please follow this link & register => www.100bit.co.in/register.php

https://i.imgur.com/TwWmtEZ.png (http://www.100bit.co.in)

Please note that, right now, we are in early BETA. Also https is not yet implemented. So, it is recommended NOT to trade big volume for now.  If your country/currency is not in the list on registration page, please inform us here. Your feedback for any improvement is highly appreciated.

Send You a PM  ;)

Title is interesting.
But why would anyone risk, as even yourself say it is still BETA?

We prefer to have informed users on board. Hence we let everyone know that we are in BETA, though we have tested it thoroughly at our end. We dont think there is much of a risk to lose any coins on the exchange, but small bugs like wrong email text might exist.

How is this different from a multitude of other cryptocurrency exchanges out there (that work with fiat too) save for the fact that a user should pay 0.01 btc just to join you? Why would anyone in the first place? I don't get it...

I don't heard anything about joining fee, 0.01BTC when going to exchange!
0.001 BTC per trader is ridiculous high if just trade small amout.
How much do we need to trade to become active traders there and to be entitled to get 0.01BTC of bounty? But if we  eliminate the joining fee, we get nothing! If we comply the criteria of active traders and our profile trust has good trading feedback at the same time, does it mean we only will get 0.01BTC.

Is this offer available?

Depending on the current feedbacks from users who joined early for testing, we are changing a few rules. Joining will be free now. Trading fees will also be in %. We'll inform you when the changes are done...

+1

Nice move. Please do inform us once you are ready...

I will wait for that !

This seems to be an interesting new exchange.
It is always good to see new businesses built around bitcoin.
While I am a trader, I would need to see this site operational with positive feedback for at least 6 months before I would join.

Hopefully, you guys will still be around by then.

Thank you for the kind words. We have done some changes in the platform. You are now free to join. If you face any problem, feel free to report here...

I love startups connected to btc anyhow. you seems to be really smart guys. good luck with everything!!

I live in Cambodia. Your site is support my country ? Thanks !

there are a million bitcoin exchanges that want traders at this point. so if you want volume, don't charge any fees in the start and incentivize the hell out of people to join up.

It was not there. But, now we have added it and KHR. You may ask more people from Cambodia to join here and start trading...

Really ? A million bitcoin exchanges ? There are ~14 million coins mined so far. Please think twice what you are writing. :P

But yes, I would love to be incentivized too :)

So, how would this compete with places like Circle, where you can exchange fiat to coin absolutely free?

or coinbase, good question.

Free ? Really ?

http://www.reddit.com/r/Bitcoin/comments/2eqtl4/circle_not_entirely_feefree/

yeah i am very much interested in your offer once you are ready please inform us thank you.

You might start testing the platform with small amount.

When will the warning go and people will be able to trade freely on your platform ?

Good point.

Hey,
you are an exchange?
You looking for active traders?
For what do you need traders?
How to trade on your site and which markets?
I am trader, but i can't see any markets or prices on your site... and i don't fill out a registration form to get this information!

As an early user of 100bit.co.in, let me try to answer your questions...

you are an exchange? - Yes they are. But they are a direct trading exchange like LocalBitcoins, not a real-time one like BTC-e or Bitstamp. Though they allow Alt coin trading against bitcoins too. The funny thing is there is no site wallet here. You pay only when you are trading and the coin gets withdrawn directly to buyer's own wallet. :)

You looking for active traders? - Of course they are. Even I am looking for active traders in my location as their trading fee is lower than the competition. ;)

For what do you need traders? - Trading commission. What else ? That is their business. 8)

How to trade on your site and which markets? - As said before, they are like LocalBitcoins. So, you can trade almost anywhere, though they have not yet added all the countries/currencies of the world. As stated in the OP...

I am trader, but i can't see any markets or prices on your site... - Unless you log in, you wont get any info either. After login you can search for trades in different countries/currencies. Dont expect anything close to LocalBitcoins. Volume is far far low and almost zero in some locations.

your site is still in BETA? i cant see anything on your site by the way.

yeah, you are right! there is no info on the site about the beta...
but why?

i also found this thread now
here offers the site a reward for finding bugs...

https://bitcointalk.org/index.php?topic=1012209.0

but in this thread i miss the info!

Yes. 100bit.co.in is in BETA as mentioned in the OP as well as in the registration page. But, small trading is going on against certain currencies for which there are no established exchange yet. Please note that, this is a direct trading exchange. So, there will not be any live graph or similar things as you used to see in various exchanges. Once you sign up & login, you'll see trades placed by various people under different currencies. Please let us know, what else you expected on the site.

Okay, now i understand your idea of this site.

My first impression, you havn't used a SSL connection to share the registration link!
I never provide my email address without https://

Were are the terms of service? What will you do with my data after registration? I can't find this information! And you ask not only for email, also for county!

As next, i as a potentail custumer would like to see offers before i register on the site! I think the site must provide a public part.
This could give me an impression and examples of the things which i can do on your site.
Further, the users would be able to share a link of the things they offer, if they search for buyers not only on your site.
But a public part should show the offers only, no personal data. To get in contact is a resgistration required on your site.
But without terms of service it has no serious character.

I think somehow, your site is like ebay, but for coins and currency only...

1. Yes. We have not yet implemented HTTPS and that is mentioned in the OP only. But, we are already using CloudFlare SSl, which means traffic from browsers to CloudFlare will be encrypted.

2. Neither ToS nor About Us is ready yet. Those are in the pipeline. We are more concerned with the platform at this moment. We have nothing to do with your data. Country & Currency are required just to provide you default search result in Trade page. You may change them latter from Settings as well.

3. As of now, we would prefer to keep things behind log in. Once we start attracting significant volume, those might be made public.

4. If user wants to say about something regarding himself or his off site offers, he can easily post it through About Me under Settings and that would be publicly available under his profile.

Nice to see that volume is slowly building up on your site.