I am new to this forum and thread. Hello everyone there !
Got a basic question - how do you compare rates provided on localbitcoins.com v/s Zebpay / Unocoin etc. There seems to be a delta of INR1000+ most of the time. Has anyone evaluated
These sites zebpay n unocoin have explained the price difference reason on their respective sites. Check those sites for further explanation. Believing in their explanation is entirely upto so. The difference between preev rate and zebpay could sometimes go upto 15k or more. (1) how localbitcoins.com is different than other exchanges or platforms in India
localbitcoins.com is a btc exchange where is zebpay is not yet. coinsecure is a btc exchange. (2) any advise on which of the Indian platform is good to begin with
coinsecure rates and withdrawals are much better, however getting KYC of your account will take ages, there are loaded with pending kyc. localbitcoin is also good starting point provided that you much know how exchanges work and understanding of terms like escrow. Google it. zebpay has very fast KYC completion (withing few hours), however buying and selling rates are ridiculous. Their customer support is really cooperative n pr0mpt. Thanks lordquanta. I was just checking at android app download numbers: Coinsecure - Installs - 10,000 - 50,000 Unocoin - Installs - 10,000 - 50,000 Zebpay - Installs -100,000 - 500,000 Is this an indication of how the platforms/ exchanges stand as of now. Zebpay comes out to be way more popular or atleast seems so !! AFAIK zebpay started as app oriented bitcoin vendor company. Whereas coinsecure has been around for long time and it is web-based exchange. When you say Zebpay is not an exchange yet, I am not very clear, could you pls elaborate a bit more on this.
Thanks a lot.
As per my understanding zebpay is bitcoin vendor where a person can buy fromZebpay or sell your bitcoin TO zebpay. Whereas exchanges like coinsecure or localbitcoin or btxindia are where various users buy and sell bitcoins to each other. Exchange acts as mediator. Rates in exchanges are decided by the users and not by exchange. Thus prices you see on exchange are comparatively lower or higher. You could decided whether you want to buy bitcoins at certain rate (assuming some is selling at that price) or sell your bitcoin at certain price . At zebpay, bitcoin rates are decided by zebpay. You have to buy it at that rate only. On this forum you'll find official Representatives from zebpay, unocoin, coinsecure. Any query related to their company will be answered accordingly. |
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I am new to this forum and thread. Hello everyone there !
Got a basic question - how do you compare rates provided on localbitcoins.com v/s Zebpay / Unocoin etc. There seems to be a delta of INR1000+ most of the time. Has anyone evaluated
These sites zebpay n unocoin have explained the price difference reason on their respective sites. Check those sites for further explanation. Believing in their explanation is entirely upto so. The difference between preev rate and zebpay could sometimes go upto 15k or more. (1) how localbitcoins.com is different than other exchanges or platforms in India
localbitcoins.com is a btc exchange where is zebpay is not yet. coinsecure is a btc exchange. (2) any advise on which of the Indian platform is good to begin with
coinsecure rates and withdrawals are much better, however getting KYC of your account will take ages, there are loaded with pending kyc. localbitcoin is also good starting point provided that you much know how exchanges work and understanding of terms like escrow. Google it. zebpay has very fast KYC completion (withing few hours), however buying and selling rates are ridiculous. Their customer support is really cooperative n pr0mpt. |
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There is very very low chance of bitcoin going below 700$ or 800$ forget about 100$ mark. The moment 800$ mark is touched in downward movement people will start buying more n more. Causing upward movement. There is new generation of users, buyers in market. The bitcoin market is more versatile now.
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as far as fork is concerned then there are some who are arguing that exchanges will treat fork will create two coins BTC and BTU. The BTU will be recognized as alt coin and NOT as bitcoin. However layman will not be able to understand the difference and might create confusion. This is will create FUD in consumer market ultimately stopping people from using bitcoin altogether.
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Any day is a good day if you are going for long term investment plan. That is the only strategy to go for when it is related to the bitcoin.
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And what about Government banks? I thought this is only valid on ATM withdrawals but these banks are swindlers. Nice way of charging middle class people. They even reduced the interest rate and withdrawals via slip deposits is also chargeable.
SBI have gone even few steps forward with limiting only three cash transactions. This means one cash deposit, one cash withdrawal, one cash deposit and you are done. Next deposit or withdrawal will invite penalty. There is a crude joke which goes as: Deposit 10 rupees 14 times in someone (who refused you a treat) in a month, with this you will lose Rs140 but that person will lose Rs. 1500  |
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AFAIR correctly then there is one such from Reliance as well. Need to check the account type.
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Looks like bitcoin price is slowly climbing back to the 1100$ range. There is positive movement at this moment. Hope it would continue accordingly.
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It is better to buy the bitcoin and HODL. Given current situation in bitcoin world it is better to remain observer. There are no much reliable opportunities in bitcoin world when it comes to investment.
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I have an account in DBS. 7% interest on savings account, received EVERY month end. Considerable cash back, zero minimum balance requirement and unlimited withdrawals from ATM of any bank anywhere in India. PM me for details  What ? 7% per month or per annum lol .. are you serious ? that's bank or HYIP ... So unreal . I think it should be 7% per annum. Banks are not that generous when it comes to give money to customer. |
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Looks like bitcoint prices are looking back to the mother earth. Price drops below 1000$. Hopefully this phase will over soon and price will roar back to high again. Next high -> moon, mars, jupiter, next galaxy...
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Some countries are taxing bitcoin in one or other way. For example Israel is set to apply capital gains tax to bitcoin sales, categorizing digital currencies as a type of property . In India it is categorized as software. So any income you are earning from that software(browser) is taxable. It is getting accepted and taxed as well.
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Just check how banks are screwing customer with online payment. Indian Govt is recommending the online/cachless economy. Thus there are offers some incentives like HP gas online booking gives 5 Rs discount online payment. If you choose SBI for online payment then SBI will charge Rs 7 as transaction process fees + 1 or 2 rupees for service charge. For getting Rs.5 discount person ends up with paying more than actual amount.
Isn't this daylight robbery. And These same banks are against farmer waivers because it will be bad practice. However they keep on lending crores and crores to businesses and after while just mark them as bad loan.
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The problem is, it looks like they have made the system difficult for users to get their payouts. They says there is Blockchain congestion which was there some time ago but not always and not there currently, because other transactions are happening smoothly in minutes. They says there is very much load on their servers and that is why that 100% graph is not coming down and hence people are not able to raise withdrawal requests. They are making fool of people, it is simple if you have BTC's and you want to give payout to people you can simply put more servers to process more requests to manage laod.
Apart from that they are also stealing from payout as transaction fee, the said payout is lesser than what it suppose to be. Payout transaction fee is low like hell that their transactions are taking 3-4 days to confirm. This is their another source of income.
By that manual process they already stopped people who invested .5 and .1 BTC contracts to get their payouts because the withdrawal request can't be made lesser than .05 BTC. Its all about that they don't want to pay the people. Server load can be managed by adding more servers but if they don't want to pay then they will come up more of these kind of hassle full options.
Thank you for shared details. After a while it was bound to happen. Classic MLM scam goes with regular payouts for few months, top-level recruiters(leaders) get their profit. The promoter/owners are projected as God or The ONE, who is honest and hard working. Owner will transform those middle class and poor to Rich. After the gap between incoming money and outgoing money shortens, payouts gets delayed. Various restrictions comes into picture. This goes on for while. And on one fine day owner is goes missing probably to some remote country with bitcoins/money collected from scheme. |
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hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I would like to know how they can misuse the above mentioned documents by just having a scanned copy? I agree they have your personal details with these documents but it is not possible to use them for any illegal purpose. So, according to you it's risky to share documents with someone? I'm not they will use it for illegal purpose, and they won't do it in reality too, but if they want they can create an account with our documents on some other btc exchange. But, they will get caught easily if we file a case against them You know someone can get these documents copy from your mobile sim vendor too?I think chances of your documents getting misused by these vendors are higher than by these reputed exchanges In addition to the above, the documents you send to the banks or their subsidiaries are also at same risk. What makes you think. The subsidiaries are the one who sells services like credit card or insurance or other financial tools to the customer. Banks can not sell these directly to the customer. Even if someone makes fake account in any exchange but the money needs to be sent from the some bank account. It is not that easy to do it (though if target person is careless then it is not that difficult as well). Thus there is risk but when something goes wrong in business bitcoin exchanges will have a proof about the identity of person they allowed to trade. Think about money laundering investigators will do when they find out exchanges allowed unverified person. This is the same reason PBoC (china) has sanctioned chinese exchanges to things straight. |
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Out of curiosity, as bitcoin is decentralize and not-controlled by anyone then who will be in position to make decision about the bitcoin banking scenario. What would the action steps if something goes wrong like fraud? And who will take necessary actions? How they will tackle inter-country scenario where defaulter is in a country which does not recognize bitcoin as asset or currency? Have we thought about it?
How to stop bitcoin bank from being next mt. gox?
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Every 14 day adds 14 activity count to your profile. Looks like this account holder has not bothered with activity so far or is bought this account.
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I liked the wallet, I'll consider to create video on how to operate the wallet. This will help to people who are interested in using it.
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