Hi
Thanks for your feedback and I am 100% agreed that we can not compare our rates with 100bitco.in, bitquick.in or localbitcoins.
Actually what is happening in India is Unocoin, iGot ( brokerage, OTC platform like Coinbase ) are big players and normally prices there was always higher and around 5% premium. Localbitcoins is almost always higher for new buyers ( traders buy low sell high, and almost all reputed traders have more than 5% margin there. So in India normally you have to pay 3 to 5% premium on buying bitcoins if you are new user.
We are simply trying to get rates in parity with USD rate, so new people who wants to try bitcoin does not feel that they are giving premium over rates in foreign exchanges. App allows you to buy monthly 10,000 INR worth of coins at the moment so it is specifically aimed at quick purchases to spend on something and for new users.
At this moment if you try to purchase 10,000 INR worth of coins our rates will be cheapest ( It does not mater if you buy 100 INR or 10,000 INR but just to compare with exchanges like CoinSecure )
The ultimate model is marketplace where we want all players in market to compete with each other give you best rates as our app is based on marketplace model. At the moment we have one seller, buysellbitco.in but let me assure you in coming months you will see few more options and app will book lowest rate possible ( Our app can add even localbitcoin or individual sellers subject to KYC AML ). Our business model is not buying selling bitcoins, its more related to adoption of bitcoins to new and general audience.
After this initiative almost all players have brought there prices down now.
I hope I was able to explain why we claim lowest rate
PS : original announcement thread on India sub forums :
https://bitcointalk.org/index.php?topic=1093038.0Thanks and Regards