sell or buy bitcoins india bitquick.in [closed]

[sambiohazard]

Unfortunately an escrow for us to hold the funds with for INR would cause too much friction within the system. It would slow down the system significantly, and if our bank account was shut down, then the website would have to close down.

Ok got that.

That is a question best suited for your specific bank. From our experience, it seems several banks will just allow you to transfer immediately while a few have some cool off periods.

I am not concerned about time but if I have to somehow tell my bank in advance that someone might send funds to me and thus I want to avail NEFT service or money can be sent to any bank account within NEFT network. My bank account is in NEFT network. Do I have to do anything else to receive funds generated by selling BTC on bitquick.in? I have accounts in PNB and SBI.

[G K G]

Unfortunately an escrow for us to hold the funds with for INR would cause too much friction within the system. It would slow down the system significantly, and if our bank account was shut down, then the website would have to close down.

Ok got that.

That is a question best suited for your specific bank. From our experience, it seems several banks will just allow you to transfer immediately while a few have some cool off periods.

I am not concerned about time but if I have to somehow tell my bank in advance that someone might send funds to me and thus I want to avail NEFT service or money can be sent to any bank account within NEFT network. My bank account is in NEFT network. Do I have to do anything else to receive funds generated by selling BTC on bitquick.in? I have accounts in PNB and SBI.

If you are selling, you won't need to inform your bank about it to avail any NEFT gateway, if the funds will be transfered from within India. If the funds are being transfered from foreign country, Yes! you'll have to inform your Bank about the transaction beforehand.

If you want to buy BTC then you'll have to add the sellers bank details as a payee atleast 12hrs before you send the payment -- this details are as far as i know.

[sambiohazard]

@ G K G

Thanks for your response. Can anyone else conform this?

[buysellbitcoin]

If you want to buy BTC then you'll have to add the sellers bank details as a payee atleast 12hrs before you send the payment -- this details are as far as i know.

It depends on your bank ( buyers bank ).

SBI - 4 hours cooling period ( before evening, after evening 12 hours )
ICICI - Instant, no cooling period
Axis - 24 hours
HDFC - 12 hours

Regards

[sambiohazard]

Thanks for all your responses.

[sambiohazard]

So for selling I don't have to go anywhere, I can do it from my home on bitquick.in but another question, How would I know if buyer is from India or not on bitquick.in?

If you are selling, you won't need to inform your bank about it to avail any NEFT gateway, if the funds will be transfered from within India. If the funds are being transfered from foreign country, Yes! you'll have to inform your Bank about the transaction beforehand.

[buysellbitcoin]

So for selling I don't have to go anywhere, I can do it from my home on bitquick.in but another question, How would I know if buyer is from India or not on bitquick.in?

If you are selling, you won't need to inform your bank about it to avail any NEFT gateway, if the funds will be transfered from within India. If the funds are being transfered from foreign country, Yes! you'll have to inform your Bank about the transaction beforehand.

Frankly speaking, this is a very important question. IMHO, Bitquick.in should allow seller to optin that he wants to sell coins in India only.

Regards

[sambiohazard]

So I am stuck now. BTW when will buysellbitco.in will come back. Any progress on the official front with RBI and all.

@BuyBitcoin.US

Please respond. Can you clear my doubts?

[buysellbitcoin]

So I am stuck now. BTW when will buysellbitco.in will come back. Any progress on the official front with RBI and all.

@BuyBitcoin.US

Please respond. Can you clear my doubts?

Do not want to derail this thread with buysellbitco.in plugins, as this is thread of bitquick.in. Lets discuss only bitquick.in here.

I think you can create support ticket with them with your requirement or may be can put some note on your offer ( I am assuming its something like localbitcoins )


Regards

[sambiohazard]

I guess i will try with very small amount.

[BuyBitcoin.US]

So I am stuck now. BTW when will buysellbitco.in will come back. Any progress on the official front with RBI and all.

@BuyBitcoin.US

Please respond. Can you clear my doubts?

We only service Indian customers, so you do not need to worry. As a seller, like everyone else said, you do not need to do anything

[sambiohazard]

So I am stuck now. BTW when will buysellbitco.in will come back. Any progress on the official front with RBI and all.

@BuyBitcoin.US

Please respond. Can you clear my doubts?

We only service Indian customers, so you do not need to worry. As a seller, like everyone else said, you do not need to do anything

Thanks for your response. I will try a trade soon and report back here.

[G K G]

So for selling I don't have to go anywhere, I can do it from my home on bitquick.in but another question, How would I know if buyer is from India or not on bitquick.in?

i think bitquick.in has a lock period of 4hrs. So practically funds from other nations cannot be transferred within this period. Usually the overseas transfer take upto a min 48hrs