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Just found this https://www.igot.com/They have INR listed as well. Quite interesting if anyone here knows about it or tried it. The site has no address to contact, has no telephone support. Even in help, if try to search, it doesn't allow any thing to enter & refreshes page. very fishy site. I agree 1 the site, does not have any reference in the forum, there is no announcement made, have to keep an eye on this and recommend it not be used for now. I ventured further, IGOT TECH SOLUTIONS PVT LTD They have a HDFC Bank account at Kolkotta , Gargia Branch ( they accept INR Deposit ) if you dig further, this company is registered at Bangalore , Chamrajpet. Probably someone from bangalore can do a fact check. edit : igot.com | B.V., Binnenhof 62 B, 1412 LC Naarden, The Netherlands |
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Can naavi also take a look at the draft and see what he thinks about it and is it good for the community to do so.
We should use his article as the front page for this. It is perfect and encompasses many of the thoughts and questions that we have had for a long time.. Please tweet it out to everyone individually if possible, we must get people aware of what is happening. For what it's worth, posted on INRBTC.com home page. Still a lot of visitors are coming to the page. |
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A very well written article and one which requires to be publicised a lot. |
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Yeh they are something like INRBTC, escrow based. Based out of India the RBI ruling does not effect them , Infact it should not effect INRBTC as they dont directly transact in INR. INRBTC should be ok to start business as they dont deal anything in BTC Yes, INRBTC.com does not take FIAT money. We take commission in bitcoins. It is the users who use the services of INRBTC.com who need protection from legal exposure. As they will be dealing with counter-parties, they need to be assured that the counter-parties are known entities. We are trying to figure out the best way to protect them. I have sent an email to Aadhar development team for access to their Authentication system on 24th Dec, but I have not received any response so far. They are currently running it on a trial basis. If any of you can get me an intro that would be a good way to start. As all Aadhar holders are verified by the Government for Identity and Address proof, anybody who holds a valid Aadhar card can transact with any other Aadhar holder. At the same time, we do not need to take and store idendity and Address proof of each individual. With Aadhar Authentication system, the dual goal of protecting user's idendity and authenticating them can done. This process will also solve the RBI's caution wherein the Users will not deal with anonymous parties. |
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Bitcoin: Seller --> INRBTC --> Buyer Money: Buyer --> Seller Is this confirmation always manual ? Unfortunately yes, unless the Indian banks are going to provide an API to check the transactions like bitcoin blockchain does  |
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Thank u so much for your quick response. I must accept the fact that your documentation is really good. My initial question does not apply for u as u dont take any money deposit, but the basic concern remains which u have covered in https://inrbtc.com/info/faq Question No. 9. What happens when the Seller does not transfer the Bitcoins after a trade is executed ? By going through the answer, what I understand, that there is always a chance for the buyer to get cheated, but seller will be prohibited from operating with the same BTC address and Bank A/c No. Please correct me if I am wrong. Thank you for the compliment. I will have to correct you immediately because any user who sees your understanding will be of opinion that the buyer can be cheated. The understanding is wrong. This is a exact copy of a small portion included at the section How It Works with some extra highlighting. When a Buy order price and a Sell order price match, a Trade Order is executed. The Seller receives the Trade Details in addition to a BTC Address to send the Bitcoins mentioned in the trade order. This BTC Address sent to the Seller is owned by INRBTC. The Buyer is sent the Trade details in addition to the BTC Address and the Seller's Bank Account Details. The Buyer is asked to deposit the Trade amount into the Seller's account after the Seller transfers the Bitcoins. After the Seller transfers the Bitcoins, INRBTC sends an email to the Buyer to deposit the Amount to the Seller's account The Buyer has to deposit the Amount to the Seller's Bank Account and inform support@inrbtc.comAs of now , 606 trades have been executed on our platform. Not even a single trade has gone into dispute because the Buyer and the Seller had a smooth transaction. The security is built into the system. Trade with peace is our USP  |
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@inrbtcad I have a common Q for Indian Exchanges...
How do u handle NEFT ? Manually check your/company's account and approve or taking some other automated method ? If u r using any automated method I would like to know what it is and how secure it is ?
Request to you visit our website and read how our Trading Platform works and further FAQ. your questions will be answered. |
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I've seen your website before, you really need to work on the design to make it more user friendly.
Make dedicated "FAQ" and "Contact" buttons either on header or footer.
Noted. Thank you for the feedback. |
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I've sent a chat massage on your website, nobody seems to reply?
Oh, Sorry about that. We do not have a online support during night. But every specific message is replied immediately. Any email sent to support@inrbtc.com is replied within 30 mins during day time and before 9 a.m if it is received during night time The only messages we do not reply to when the online support is offline is "hi" |
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The only website we have right now that looks trustable is buysellbitco.in and downside is they work 8AM to 10PM and pause the trading at any time of day whenever they feel like.
When are we going to see a 24hr exchange here in India that doesn't have any daily limits?
Please try INRBTC, we have trades which have been executed on all odd times , even now the bitcoins are being traded. It is 24 Hrs open, it has no limits and when more of you start using it , it will have a much higher depth too. |
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Thanks Benson
I have looked at the INRBTC website
Quite likely that I will test the service at some point down the road
I can surely vouch for them Regards Well, Thank you  Looking forward to meeting you at the Global Bitcoin Conference. We can pat each other's back for a long time  |
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Buying bitcoins is not as simple as it looks, but thanks INRBTC to make it easier with all around instant support. Really appreciate the way you helped out the first timer to get it done.
Kudos
Dear TrueSearch, I apologize for not having responded to this thread earlier. Thank you for a nice feedback about our services. Regards, |
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I can say with confidence that INRBTC is the best place to buy or sell bitcoins in India today. You can handle your transactions smoothly, thanks to very friendly support services. I always got best price at INRBTC, whether it is for buying or selling btc. Thanks INRBTC! Dear Gngnngri, Thank you for some nice words about INRBTC. I am glad you like the support service. Honestly, I am bit tempted to ask your name as all the Users at INRBTC only use their name associated with their bank account but do not let me or my team ever know who you are. We will always assume that every user is you and continue to give the services which you have so truly appreciated. Thanks again. Regards, |
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Thanks Guys for organizing Laxmicoin will setting up a stall and our team will be speaking about digital currency see you guys there www.laxmicoin.comIs there a way to know about laxmicoin, without forcing us to compulsorily subscribe ? |
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How can your platform safeguard against such 'hacks' ?
Rather than obsess ourselves with trying to solve the question of "How to not get hacked ?" the question we tried to answer was "How to setup a system such that the users fund and bitcoins are always protected ?" The answer to that questions is INRBTC - Bitcoin Trading PlatformNeither do we store user's bitcoins nor their funds. Once a trade is executed, the Seller sends us the bitcoins and the buyer sends the funds directly to the Seller. After the seller confirms the deposit in the bank account, we transfer the bitcoins to the buyer and also release the bitcoins deposit of both the buyer and the seller. ( More info is at FAQ ) For the whole duration of a trade, we hold the bitcoins deposit of the buyer and seller and for a very short duration, we are the custodians of the bitcoins of the seller. As the trades are being continuously settled, at any point of time we do not hold more than 10 -15% of the bitcoins being traded on our platform. This ensures that even if by any circumstance our system gets compromised/hacked, the damage is very minimal. Along with all this, we also have a Service Guarantee. As part of our service guarantee we cover up to 25 BTC or the equivalent in value of Indian Currency. This Service Guarantee Fund will be updated based on the average trading volume on our platform. What if one hacks your site, and messes with your trade bot/system ? instead of connecting the original buyers/sellers what if they connect the buyers/sellers with a scammer ? You must understand that these are all just hypothetical questions. Btw check your mail. Every Order placed on our platform has to be backed by a deposit equal to 10% of order value. After a trade takes place, the seller is asked to transfer the bitcoins for the trade to a specific bitcoin address and buyer is also sent this address to verify. So, until the scammer has the intention to lose the 10% order value for every scam trade, he might as well honor the trade agreement. Your, next question might be "what if those bitcoin addresses are also of the scammer ? " Well, in that case either us or the buyer will notice that the bitcoins are not there and we can immediately halt the trading system and take immediate action. Like I said "We have designed our system such that at most there can be only minimal damage" I appreciate your questions and also the follow up, and I am more than glad to answer them. It will also help others who have similar concerns regarding safety. |
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How can your platform safeguard against such 'hacks' ?
Rather than obsess ourselves with trying to solve the question of "How to not get hacked ?" the question we tried to answer was "How to setup a system such that the users fund and bitcoins are always protected ?" The answer to that questions is INRBTC - Bitcoin Trading PlatformNeither do we store user's bitcoins nor their funds. Once a trade is executed, the Seller sends us the bitcoins and the buyer sends the funds directly to the Seller. After the seller confirms the deposit in the bank account, we transfer the bitcoins to the buyer and also release the bitcoins deposit of both the buyer and the seller. ( More info is at FAQ ) For the whole duration of a trade, we hold the bitcoins deposit of the buyer and seller and for a very short duration, we are the custodians of the bitcoins of the seller. As the trades are being continuously settled, at any point of time we do not hold more than 10 -15% of the bitcoins being traded on our platform. This ensures that even if by any circumstance our system gets compromised/hacked, the damage is very minimal. Along with all this, we also have a Service Guarantee. As part of our service guarantee we cover up to 25 BTC or the equivalent in value of Indian Currency. This Service Guarantee Fund will be updated based on the average trading volume on our platform. |
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Excuse me, Remind me again, who exactly are you ? otc ? forum trust ?
You need to spend some time on the forums. INRBTC is doing a great job for Bitcoin through his Exchange. Thank you for a nice compliment Benson. |
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Dear Moderator,
The purpose of this post was to inform about the status of INRBTC when the server was down. Now it is up and working normally.
Can I request for this whole thread to be removed.
Thank you.
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Hi, Our Server is currently down, We are looking into the issue. Our emails are working. If anything urgent, you can contact us at info@inrbtc.com or support@inrbtc.com Regards, Server is up and running. Thank you. |
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