Launching the Coinsecure Payment Gateway for Bitcoin in India

[Benson Samuel]

Almost 7 months have passed.How many merchants have used coinsecure to accept bitcoin?
I hope if some reputed online merchant add bitcoin payment, it will give a great boost to bitcoin adoption in India.

Barely 3 or 4 have active payment buttons.
More seem to be interested in just showing a basic QR from wallet for payments.

Guess we have not really done much BD/ PR on the gateway as yet.

1 mistake that might be the case is that the entire module is not a straight forward integration. The complexity itself will switch off half the merchants.

Lets see what we can do with this piece in 2017. We constantly evolving and merchant is an important piece for us.

If i wanted to add bitcoin as payment option for my business , then what should i have to show in the tax law as i also wanted to setup my business with bitcoin payment but as i am not aware of the tax law i am using it in personal way.

You would enter it in your books at the rate at which it was accepted.
While this is not absolute or written by law, this is practiced by many companies.

[1714932932]

1714932932

[btcdevil]

Almost 7 months have passed.How many merchants have used coinsecure to accept bitcoin?
I hope if some reputed online merchant add bitcoin payment, it will give a great boost to bitcoin adoption in India.

Barely 3 or 4 have active payment buttons.
More seem to be interested in just showing a basic QR from wallet for payments.

Guess we have not really done much BD/ PR on the gateway as yet.

1 mistake that might be the case is that the entire module is not a straight forward integration. The complexity itself will switch off half the merchants.

Lets see what we can do with this piece in 2017. We constantly evolving and merchant is an important piece for us.

If i wanted to add bitcoin as payment option for my business , then what should i have to show in the tax law as i also wanted to setup my business with bitcoin payment but as i am not aware of the tax law i am using it in personal way.

You would enter it in your books at the rate at which it was accepted.
While this is not absolute or written by law, this is practiced by many companies.

You mean to say that we have to show as trading in the books as like stock exchange trading , Then the profit will be shown as short term profit. But i am not doing trading but i am just earning through signature campaign, doing social bounty for altcoins and just sell the coins and convert them to bitcoin and sell them to fiat currency and use it in my daily life expenses. Then how come this will come in trading option.

[MrMerchant]

https://pay.coinsecure.in

0 Confirmations for most

There has been a growing trend of Double Spends in India, although the cases have been of very small volume.

Any solutions in place to secure the Merchant if by any chance a notorious customer double spends before 1 confirm?

PS: Thank You for all that you have done for Bitcoin Adoption in India, IMO Bitcoin payments will soon pickup if there are more platforms for Implementation and more Use Cases are introduced.

[sgk]

How long does a fiat deposit generally take? I have my NEFT sitting unconfirmed for around 3 hours now.

[Benson Samuel]

How long does a fiat deposit generally take? I have my NEFT sitting unconfirmed for around 3 hours now.

Generally 15-30 mins once we receive a notification.
Am being told that neft could take 3-4 hrs for us to get a notification.

[vaisajne]

Hi Benson,

I am experiencing problem with Coinsecure website.It seems to be down. Please can you look in to it asap.

Regards

[sgk]

Hi Benson,

I am experiencing problem with Coinsecure website.It seems to be down. Please can you look in to it asap.

Regards

I am able to login, but the balances & orders are not being loaded. Occasionally I'm redirected to a maintenance page. I think there's some kind of upgrade going on.

[vaisajne]

Hi,

I am now able to log in but the order books are not getting loaded. Think the price surge has attracted dormant traders and all are trying to log in at the same time. Coinsecure should find a way to autoscale if that is an issue. I experienced similar problem during last months price drop and could not sell bitcoins on time leading to a loss.

Regards,

[Benson Samuel]

Hi,

I am now able to log in but the order books are not getting loaded. Think the price surge has attracted dormant traders and all are trying to log in at the same time. Coinsecure should find a way to autoscale if that is an issue. I experienced similar problem during last months price drop and could not sell bitcoins on time leading to a loss.

Regards,

Was a different issue.
We have sorted scale some time ago.. Should be able to handle a lot more now.
We did an update late last night and incapsula had cached the update page. Purged the cache and it has been cool since then.
Sorry about that.

[Blackshadow007]

Hi Benson,

I am experiencing problem with Coinsecure website.It seems to be down. Please can you look in to it asap.

Regards

I am able to login, but the balances & orders are not being loaded. Occasionally I'm redirected to a maintenance page. I think there's some kind of upgrade going on.

Site is ok and stable now

[eXpl0sive]

The site is sooooooooooooo.....   SLOW right now. Doesn't seem to handle the enormous traffic well. I can't even load the home page.

[Benson Samuel]

The site is sooooooooooooo.....   SLOW right now. Doesn't seem to handle the enormous traffic well. I can't even load the home page.

Yeah crazy numbers in traffic today, adding more limits, etc..
time taking task to scale up to this.

[eXpl0sive]

The site is sooooooooooooo.....   SLOW right now. Doesn't seem to handle the enormous traffic well. I can't even load the home page.

Yeah crazy numbers in traffic today, adding more limits, etc..
time taking task to scale up to this.

No wonder there is crazy traffic today. Price is ATH yay! Good luck and hope your site scales well. Bitcoin is becoming popular in India and your site is going to attract more and more users in future.

[zahra4577]

I submitted my verification documents two days back on coinsecure website but still waiting for verification.
I do not have adhaar,license or passport so I uploaded my voter id.
I hope it will be okay to get verification.

[Benson Samuel]

I submitted my verification documents two days back on coinsecure website but still waiting for verification.
I do not have adhaar,license or passport so I uploaded my voter id.
I hope it will be okay to get verification.

Not sure. Send me your email ID via PM and I can ask compliance to check.

[zahra4577]

I submitted my verification documents two days back on coinsecure website but still waiting for verification.
I do not have adhaar,license or passport so I uploaded my voter id.
I hope it will be okay to get verification.

Not sure. Send me your email ID via PM and I can ask compliance to check.

Thanks Pm sent.Actually I also want to report error I am getting while uploading the zip file.
Since I was required to send front and back jpg image of voter id and multiple files are possible through zip format only,I tried it but it says invalid file type.
Because of this error I could only upload front portion image of my voter id and waiting for customer support email to ask me for back image also

[zahra4577]

I submitted my verification documents two days back on coinsecure website but still waiting for verification.
I do not have adhaar,license or passport so I uploaded my voter id.
I hope it will be okay to get verification.

Not sure. Send me your email ID via PM and I can ask compliance to check.

Hi I am still waiting for your response.It has been 3 days since I sent you my email through pm.No reply from coinsecure either.

[Benson Samuel]

I submitted my verification documents two days back on coinsecure website but still waiting for verification.
I do not have adhaar,license or passport so I uploaded my voter id.
I hope it will be okay to get verification.

Not sure. Send me your email ID via PM and I can ask compliance to check.

Hi I am still waiting for your response.It has been 3 days since I sent you my email through pm.No reply from coinsecure either.

I have sent your query to the compliance team, they will reply back as soon as they can.
Yesterday was monday, so lots of backlog to clear.

[zahra4577]

I submitted my verification documents two days back on coinsecure website but still waiting for verification.
I do not have adhaar,license or passport so I uploaded my voter id.
I hope it will be okay to get verification.

Not sure. Send me your email ID via PM and I can ask compliance to check.

Hi I am still waiting for your response.It has been 3 days since I sent you my email through pm.No reply from coinsecure either.

I have sent your query to the compliance team, they will reply back as soon as they can.
Yesterday was monday, so lots of backlog to clear.

Thank you so much for your help.I have received email today asking me to send copy of PAN card and voter id.
Will be sending it tonight.Thanks

[eXpl0sive]

I'm tired of this site running sluggishly whenever there's high number of trades going on. Can't load my pending orders due to unresponsiveness of site. I hope this is addressed soon, I can't trade like this forever.