I wanted to buy Some BTC worth 2 lakhs, say around 4-5 days ago. Someone told me this might be a good place to buy, since the rates are a little cheaper and Vikram's Reputation is good. So I went to ahead and placed the order for the BTC - At the time when I placed the order I was getting 5.35 BTC from their website, Which was a better rate then unocoin or Zebpay, which was why I thought I'd buy from here.

As soon as I placed the order and they had gotten the money. They suddenly hiked the price up by almost Rs. 3000 Claiming it was a natural surge of bitcoin price. Whereas on every other website, the price had gone down . I ended up getting 5.07 BTC ( which was worth only 1.89 LAKHS)

I've been a long time miner/ buyer of BTC , and people trying to Scam individuals for Rs. 10000 Just because they can is plain unprofessional. I'm not really posting this to complain, but I wouldn't want anyone else to fall for this trap. They just lure you in with low prices and adjust accordingly , Even if its your last option think twice before buying from here.

Cheers
TB

Who is this Vikram and is he a member of this community?

At present Unocoin and Zebpay offering a better rate than that site. Also never heard about that site.

Ohhh ic. Ask Unocin then the relation with Vikram. Also may be he would be scamming others may be if that is the case.

Hey, I was getting 5.27 from Zebpay and 5.23 from Unocoin at the exact time. Trybitcoin.in showed it as 5.35 BTC at the time I placed the order.When I called up to ask them, they told me they offer a "competitive edge" over others exchanges in India. Hence I decided to buy from them .


After the transaction i Checked I was getting a lot more atleast ( Rs - 10000-14000 more btc from Zebpay and unocoin) . Yup, I would be very careful from now on.I can just imagine the number of people that would get scammed by the lure of cheaper prices, Seeing it is still new to India, It'd be bad if that was the first impression they got. It's damn annoying that people like this could end up spoiling the reputation of bitcoins in India.

Yup..It's good to stick to unocoin or zebpay . I don't think his reputation is even worth 0.2 btc.

So did you try contacted with that person after the incident or stopped it completely ?

The EXACT same thing happened to me last night (almost). By sheer luck, no ATM drop-box was available. After I got home, his BTC price had increased by 4000+ (in a few hours??? wtf?)

Thing is, this was supposed to be a face-to-face on localbitcoins.com. But instead of keeping up to what was advertised (ie. doing the transaction at my place, I was asked to meet him and hand him the cash and wait for acknowledgement. BUT I had to go to his website trybitcoin.in and register and do it there. So the price on localbitcoins was 18000 INR and it increased to nearly 19500 INR. Not much, difference, but it's the principle involved.

When I asked him why he left Unocoin, I did not get a proper and clear answer. This was really fishy, so I cancelled the deal on localbitcoins and reported it. (Guidelines were that users were NOT supposed to be redirected elsewhere to do transactions!) I'm an idiot for not reading that, but thank God I could NOT find a drop box on time! Then I saw this report and thought.....exact same MO!

What the hell man? I thought this guy was some bigshot and trustworthy and all???

Really depressing. And he was the only one willing to do Cash Transfers face-to-face! Now I'm stuck! Thanks a lot vikram nikkam. Your site does NOT even let me CANCEL my damn order! Your site is registered to a GMAIL address. Even google reports the site as borderline in terms of trustworthiness (51%).

I don't know if anyone else has encountered this, but this was my experience yesterday and now I'm friggin paranoid about doing business in BTC n India!
 

Did anyone asked Unocoin why did he left them rather than asking him about the same?

I seriously doubt it. His response to that question was "Eh, well, you know, *mumble mumble*....*incomprehensible gibberish*"

Anyway, localbitoins banned his account from trading, just to let you guys know; for violating their policy of luring buyers away from the site and thus losing escrow protection. Quoting the site admin directly

"The user has been suspended and is not allowed to trade anymore, because he was trying to trade out of localbitcoins escrow protection."

Yup, I opened a complaint ticket right after reading @terrorblade3189's experience. I admit it and I have no qualms about it! This just is NOT right! It ruins things for the community at large. I went with him after reading articles about him in the Economic Times about him being some sort of pioneer of the Indian BTC scene in 2013. I thought he was trustworthy.

EDIT:

But please be wary that he has other related accounts. I don't know where to post this, if necessary (which thread I mean). The accounts have the same telephone/whatsapp number but list different cities from in Tamil Nadu, Kerala and Telangana, all the way to Delhi.

I use coinsecure for all my dealings.I am happy with them.