KROGYAN : The Bitcoin Exchange for INDIA (Better than Virwox)

[legendster]

UPDATE :
KROGYAN IS DEFUNCT.
ALL INVESTORS ARE PAID BACK IN FULL.
Domain/Dedicated servers are released.

[buysellbitcoin]

Hi guys,
I m pretty new to Bitcoins.
Began researching about 3 months ago, joined in about few weeks ago and yes I was lucky enough to buy some coins during the crash.
As of late I have got many offers to buy and sell coins and was mostly offered by my countrymates, which leads me to the conclusion that they have faced similar problems in buying coins as i have.

My biggest problem is that the Bank account I operate has no Swift or IBAN number a BIG issue.

So I've been thinking about this little forum exchange that I can operate through here - on Bitcointalk.org
Basically I will charge a little fee initially to support my buying capability and as time passes on I will reduce the fee.

ABOUT THE EXCHANGE AND HOW IT WILL WORK

You must send me your request/quotation here ( NO private messages )

So lets say you want to buy Bitcoins worth Rs 5000 (~ $100)

If you want to BUY coins from me through Bank Wire / NEFT I will charge Rs250 (Fixed)  as bank Charge and + 5% of Current Mt Gox Rate.

If you want to SELL me your coins through Bank Wire / NEFT I will charge Rs 300 (Fixed) and - 6% of Current Mt Gox Rate.


For International guys - I will also accept paypal but you will have to wait for 5 ~ 6 Days before I can send you any coins, in that case I will charge +5% for Buy & -6% of that day's MtGox rate and + $ 2.5 (Fixed)



*Moderators and senior traders let me know what else I need to offer to get this going.

Everything else is fine, but do not accept Paypal, IT WILL fail no matter how much precaution you will take.
Best of wishes..

Cheers

[Benson Samuel]

Would be nice to see some successful sales.

[legendster]

Everything else is fine, but do not accept Paypal, IT WILL fail no matter how much precaution you will take.
Best of wishes..

Cheers

But as Soon as I get a paypal amount I am going to transfer it to my bank.
No way they can reverse any money from the bank can they ?

[legendster]

Would be nice to see some successful sales.

Yup SALES is the right term. Waiting for the first quotes Hopefully some of the people that messaged or talked with me on the phone will see this and respond

HOPEFUL

[Benson Samuel]

Everything else is fine, but do not accept Paypal, IT WILL fail no matter how much precaution you will take.
Best of wishes..

Cheers

But as Soon as I get a paypal amount I am going to transfer it to my bank.
No way they can reverse any money from the bank can they ?

No, but they can block your PayPal account if they know that you are doing trx in BTC.

All it takes is for 1 silly sender to type Bitcoin in the comments and your account is blocked.

Not worth it for me.

[legendster]

Everything else is fine, but do not accept Paypal, IT WILL fail no matter how much precaution you will take.
Best of wishes..

Cheers

But as Soon as I get a paypal amount I am going to transfer it to my bank.
No way they can reverse any money from the bank can they ?

No, but they can block your PayPal account if they know that you are doing trx in BTC.

All it takes is for 1 silly sender to type Bitcoin in the comments and your account is blocked.

Not worth it for me.

Wow didnt know that O_O
But I will be the one sending the invoice and we'll see how things go from there.
In anycase that is a special case.

[buysellbitcoin]

Everything else is fine, but do not accept Paypal, IT WILL fail no matter how much precaution you will take.
Best of wishes..

Cheers

But as Soon as I get a paypal amount I am going to transfer it to my bank.
No way they can reverse any money from the bank can they ?

No, but they can block your PayPal account if they know that you are doing trx in BTC.

All it takes is for 1 silly sender to type Bitcoin in the comments and your account is blocked.

Not worth it for me.

Wow didnt know that O_O
But I will be the one sending the invoice and we'll see how things go from there.
In anycase that is a special case.

1. Your Paypal balance will auto withdraw to your bank account every day even if you will not withdraw it.
2. Even if you have zero balance in your Paypal account and someone claims charge back, your account will be blocked, will have negative balance and some one from Paypal will contact you for payment. It can go upto including your bank in the loop for recovering funds. Since they already have your PAN card and bank account details, this information will be passed to your credit report too.
3. In case that does not happen and as Benson mentioned some one mentions Bitcoin in there description, your account will be blocked for 180 days and Paypal will enjoy 0% loan from your money for 180 days.

Frankly speaking Paypal ( Any method that can be charged back ) is not worth all this trouble.

Cheers

[legendster]

OK then Making the Changes.

Good news is however just conducted the 1st Transaction on this forum.
http://blockchain.info/address/17iP2PPMMMyoAHCeB79j2KSQqD6c47pVvX

To the user "Fifth_ID"

Small but 1st

[Fifth_ID]

My first transaction in crypto currencies connected to bitcointalk.

Far lower cost to me than localbitcoins and Virwox.

It's a small transaction but I may invest more in bitcoin once silver bottoms out.

[legendster]

I have taken the last sell order this week, unless I am able to transfer some cash back into gox I wont be able to "Sell" any more.
However I am still open for "BUY" offers, so if you want to sell your coins, let me know.

[legendster]

Another Success.

[axorb]

I can vouch for legendster . Honest seller , quick to respond. Will do more business with him . +1
 

[Benson Samuel]

Volume of business?

[axorb]

Volume of business?

Around 0.5 btc , a small transaction but a successful one

[Benson Samuel]

Volume of business?

Around 0.5 btc , a small transaction but a successful one

I like micro sales. That is an awesome future for Bitcoin!

Any financial traders who can work with an investment? That would interest me.

But I guess this will happen organically post Money Today's publication on April 25th.

[Dragooon]

If I do a bank transfer via my HDFC account, what amount will you charge (relative to the current Mt. Gox price)?

[legendster]

Thanks to all my buyer's & Benson's support.

I can accept any bank's deposit @Dragooon

But my rates are +15% Mt Gox

I'll lower the rates by 1% - 2% provided my deal with a popular exchanger for both btc-e & mtGox work out, where I pay them through my debit card.
I know its not supported by many & many will yell at my face & accuse me of lying or whatever but trust me I m trying my best to work it out with them ..


HOPEFULLY things will work out soon.



*I have big plans*

[legendster]

If I do a bank transfer via my HDFC account, what amount will you charge (relative to the current Mt. Gox price)?

Have you read my listing completely ?

https://bitcointalk.org/index.php?topic=176877.msg1841315#msg1841315

If not please read it.

Current MtGox coins are not available.

But I am willing to sell some at + 10% of Virwox rates

Next week I *Might introduce Btc-e rates.

[legendster]

BUMP

[legendster]

Consider me MIA but i will be back running into some troubles off lately.

[americandesi]

Consider me MIA but i will be back running into some troubles off lately.

What happened.? Could you elaborate.?

[Benson Samuel]

Consider me MIA but i will be back running into some troubles off lately.

??

[legendster]

Dont worry guys Nothing Bitcoin related ^_^ the troubles I mentioned are more related to my academic life

[legendster]

+1 Transaction (Sold) with iigor

*Paid me through Paypal on 6/5/2013, will pay him the BTC on 9/5/2013 AFTER I have transferred the amount to my Bank.

9th may 2013 Update :

Transaction Completed.
https://blockchain.info/address/19oipLvDBVv6BoF6SUyChsk7HDTM8jrMKn

[axorb]

Any new updates ?

[legendster]

Any new updates ?

Nope Will update the rates again tonight. But these arent the rates that you are waiting for, still didnt receive those documents.

[iigor]

1st trade ever with this digital currency, everything went smooth.
Rates are good, im very satisfied with this service.

[legendster]

Rates updated as of 11th May 2013

[legendster]

Purchased www.Krogyan.com
For Possible future Setup of an Exchange in this name.

[legendster]

GOX + 16% for quantities above 1 BTC

[legendster]

Will be back in Action soon.

[legendster]

Now Accepting Airtel Money upto Rs10000

[Benson Samuel]

Now Accepting Airtel Money upto Rs10000

Nice.

[absvenkat]

Hi,

Id like to buy 1 btc.Can i make payment by bank deposit?.
How much INR must i transfer?

cheers

[legendster]

Hi,

Id like to buy 1 btc.Can i make payment by bank deposit?.
How much INR must i transfer?

cheers

The rate for today (at the time of Writing - atw) is $130 or Rs 6900 (calculated at INR53/USD - where as currently the rate is INR57/USD)
Hence $130 = INR 7410

I will send this quote as a PM to you.

Please note that the actual rates at which I'll sell to you would be decided AT THE TIME WHEN I REALIZE THE PAYMENT in my BANK.

You can do a Bank Transfer/Deposit or send me the money in any method mentioned here. Please note that Paypal/neteller/Skrill have excess service charge attached with them hence they have higher rates.

[legendster]

Also would like to request previous buyers and all future buyers to update my Trust Score https://bitcointalk.org/index.php?action=trust;u=93844 every time you transact with me.

[varunsin]

WTB - 1.4BTC

Neft, how much do you charge??

[legendster]

WTB - 1.4BTC

Neft, how much do you charge??

At The Time of Writing this, the rate to buy from KROGYAN is $125.5 that should be around INR 7153 PER coin.

So for BTC1.4 you will pay INR 10015

[Benson Samuel]

Different tickers can be found here: http://btcticker.appspot.com/

This could be useful for people who want to use the Mt Gox ticker on their forum sales.

Can always add the margin to the ticker and announce in the same thread.

[legendster]

Different tickers can be found here: http://btcticker.appspot.com/

This could be useful for people who want to use the Mt Gox ticker on their forum sales.

Can always add the margin to the ticker and announce in the same thread.

Thanks Benu da, but as you know my last quote is having a surcharge of 16% plus figure rounding. So my quote is still : $125.5

and I actually dont understand the ticker code, can you explain ?

[Benson Samuel]

Different tickers can be found here: http://btcticker.appspot.com/

This could be useful for people who want to use the Mt Gox ticker on their forum sales.

Can always add the margin to the ticker and announce in the same thread.

Thanks Benu da, but as you know my last quote is having a surcharge of 16% plus figure rounding. So my quote is still : $125.5

and I actually dont understand the ticker code, can you explain ?

http://btcticker.appspot.com/mtgox/1btc2usd.png

Add that or any other currency ticker as an image in the thread

[legendster]

Different tickers can be found here: http://btcticker.appspot.com/

This could be useful for people who want to use the Mt Gox ticker on their forum sales.

Can always add the margin to the ticker and announce in the same thread.

Thanks Benu da, but as you know my last quote is having a surcharge of 16% plus figure rounding. So my quote is still : $125.5

and I actually dont understand the ticker code, can you explain ?

http://btcticker.appspot.com/mtgox/1btc2usd.png

Add that or any other currency ticker as an image in the thread

I have a surcharge of 16% how do I add that ? I tried the formula method here like in localbitcoins but didnt work.

[legendster]

AndrewHenson paid $127 for 1 BTC on Sunday June 9 2013 via paypal.
Waiting for bank confirmation.

[spacenstein]

what is your minimum exchange amount for paypal to btc?

[legendster]

what is your minimum exchange amount for paypal to btc?

There is no minimum cap but anything below 1 btc has higher rates and the Buyer has to pay paypal charges in addition to the 16% charge.

[legendster]

Trading with sublime5447 - on Hold due to payment gate issues.

[sublime5447]

Sent paypal invoice for btc waiting for payment... will up date.

Update partial payment received..

[legendster]

Sent paypal invoice for btc waiting for payment... will up date.

Acknowledged.

[legendster]

Sent paypal invoice for btc waiting for payment... will up date.

Update partial payment received..

Acknowledged.

[legendster]

From now On I will only ACCEPT PAYPAL payments and never SEND ANY PAYPAL payments. My virtual cards are not being supported by them anymore. I will only send SKRILL and NETELLER payments.

*International Transactions*

[Ben1412]

I want to buy 0.5 Bitcoins PM me with details.

[legendster]

I want to buy 0.5 Bitcoins PM me with details.

Already sent, waiting for your response.

[thecandyman96]

Can I buy .5 BTC for 50$ USD? Paypal?
Feel free to PM me

[Doubletime]

I am also looking to buy $50 usd worth using paypal.  Ive bought once from sublime if that helps at all.

[legendster]

I am also looking to buy $50 usd worth using paypal.  Ive bought once from sublime if that helps at all.

Can I buy .5 BTC for 50$ USD? Paypal?
Feel free to PM me

Quote sent, Thanks for the interest.

[ubaidian]

need to buy around 1.50 BTC , got an escrow ? how we gonna do this? ...

[legendster]

need to buy around 1.50 BTC , got an escrow ? how we gonna do this? ...

Escrow can be arranged, probably John.k or our Indian Moderators will do it. You need to ask them first.

How we're gonna do this is based a LOT on how you will pay.

[ubaidian]

either a visa card with $160 USD credit on it, or i could use the card myself and pay through paypal or another similar service if they allow.
your trust rating isn't perfect, and the idea of sitting on the deal for a few days till you decide to finalize worries me a little, il try and contact johnk as an escrow,

its up to you how u want to accept payment, but the simpler the better, your %16 rate plus the "escrow's cut" is already emptying me out and paypals rates on top of all that is putting me way behind what i thought i would get (beggers cant be choosers though right)

if you are interested in the card, that could be a very simple way too ... as i said up to you ultimately

[legendster]

either a visa card with $160 USD credit on it, or i could use the card myself and pay through paypal or another similar service if they allow.
your trust rating isn't perfect, and the idea of sitting on the deal for a few days till you decide to finalize worries me a little, il try and contact johnk as an escrow,

its up to you how u want to accept payment, but the simpler the better, your %16 rate plus the "escrow's cut" is already emptying me out and paypals rates on top of all that is putting me way behind what i thought i would get (beggers cant be choosers though right)

if you are interested in the card, that could be a very simple way too ... as i said up to you ultimately

Dont consider yourself a beggar, when I started here in April and applied for a loan there were all kinds of people calling me all kinds of names, even some went far enough to destroy a business idea I had, the ruins of which is still available to be seen.

You DO have a value of money with you, its just that value of money has a lot of risks involved with it.


You can use your virtual visa card to pay me on my skrill, ecocard or neteller, I have successfully used prepaid virtual cards with skrill and neteller before, but unfortunately paypal doesnt accepts them anymore.

[legendster]

your trust rating isn't perfect,

Right now if I go to your profile and post a feedback by checking the Scammer tag on, you too will get similar colors as me. This trust rating system isnt perfect, all it takes is someone with a grunt on you, hell bent of proving themselves right and screwing you - to ruin your rep.

I ve already lost few trades JUST because those people were lazy enough to not even read the trust score I have.

[ubaidian]

yeah i can understand that happening, fair enough

im alright with using any 3 of those services, which one is the easiest? (i'd also rather remain annonymous too) e.g. wouldnt want to sign up with any and then find out that just to transfer money i have to send in scans of my I.D. and get verified etc . . .

[sublime5447]

Wanted to update and let you know that I still havent got that skrill payment I have sent two messages to them with no response. I am really regretting taking it. It is no fault of your of course, but his is why I didnt want to take it.

[legendster]

yeah i can understand that happening, fair enough

im alright with using any 3 of those services, which one is the easiest? (i'd also rather remain annonymous too) e.g. wouldnt want to sign up with any and then find out that just to transfer money i have to send in scans of my I.D. and get verified etc . . .

Getting your ID verified is something between you and the payment service that you choose, I ll be happy to accept ANY of these payments, as long as I get paid and its fairly easy to withdraw to my bank, I'll accept it.

[legendster]

Wanted to update and let you know that I still havent got that skrill payment I have sent two messages to them with no response. I am really regretting taking it. It is no fault of your of course, but his is why I didnt want to take it.

Really sorry about the skrill issue but as I said during our chat hours in facebook, skrill is not new to internet payments, they have been here almost as long as paypal, in my case my withdrawal method was adding my bank's SWIFT number and then selecting the appropriate branch, in anycase withdrawing money from any payment system takes 3 - 5 business days.

If you search the forum, you will find many skrill users, and I m sure we'll all agree that its better than paypal once you are setup.

[legendster]

Resuming Forum Activities.

Up for Immediate auction is 1.2 BTC starting bid at $144 per coin.

1.2 BTC for $178.5

[goose20]

How many btc do you have for sale currently?
Thanks

[axorb]

Resuming Forum Activities.

Up for Immediate auction is 1.2 BTC starting bid at $144 per coin.

1.2 BTC for $150

Great to see you back mate

[legendster]

Resuming Forum Activities.

Up for Immediate auction is 1.2 BTC starting bid at $144 per coin.

1.2 BTC for $150

Great to see you back mate

great to see you moving up the ranks ^_^

[legendster]

How many btc do you have for sale currently?
Thanks

Quote Sent, Check Pmb.

[legendster]

There is a method to it while dealing with PP :

1. I receive the money first
2. I transfer the money first to my bank.
3. Mean while either you arrange for a trusted escrow (fees borne by you) OR I hold the coins TILL I get the cash in my bank.
4. You get the coins.

I have traded before and i will let those trades serve as justification for my considerations, which many buyers before you have obliged to.

CURRENT RATE : BTC1.2 for $173 + 3% = $178.5

[legendster]

Sold

[legendster]

Selling again. Send me your rates.

[legendster]

Buy $914.6
Sell $878.9

[legendster]

BUY  $740.05
SELL $665.6

[legendster]

Buy $782.348
Sell $662.983

[legendster]

BTC

Buy $931.561
Sell $771.945


LTC

Buy $25.61
Sell $16.42

[manekari]

BTC

Buy $931.561
Sell $771.945


LTC

Buy $25.61
Sell $16.42

I have sent you the PM .. Please check. awaiting reply.

[legendster]

BTC

Buy $931.561
Sell $771.945


LTC

Buy $25.61
Sell $16.42

I have sent you the PM .. Please check. awaiting reply.

Response sent.
Thank you

[sidjourn]

Can you please convert the amount in INR, so we can pay through bank?

[legendster]

Can you please convert the amount in INR, so we can pay through bank?

BTC

Buy $1010.049 = INR 63117.96201
Sell $$879.84 = INR 54981.2016

LTC

Buy $45.614 = INR 2848.04424
Sell $40.012 = INR 2499.789012

[oneidentity]

WTB 5 LTC. Best rates please, would prefer Neteller/Skrill

[legendster]

WTB 5 LTC. Best rates please, would prefer Neteller/Skrill

Below 10 LTC rates @ $46.16

$46.15 x 5 = $228.75

Above 10 LTC rates @ $45.614


Neteller and PAYPAL preferred FOR INTERNATIONAL customers, PM me.

[legendster]

Transaction initiated with Manekari

[sidjourn]

Can you please convert the amount in INR, so we can pay through bank?

BTC

Buy $1010.049 = INR 63117.96201
Sell $$879.84 = INR 54981.2016

LTC

Buy $45.614 = INR 2848.04424
Sell $40.012 = INR 2499.789012

Sent you a PM!

Thanks.

[legendster]

Can you please convert the amount in INR, so we can pay through bank?

BTC

Buy $1010.049 = INR 63117.96201
Sell $$879.84 = INR 54981.2016

LTC

Buy $45.614 = INR 2848.04424
Sell $40.012 = INR 2499.789012

Sent you a PM!

Thanks.

Nope, not received any messages.

[legendster]

Manekari transaction on hold by bank.

Updated OP.

New Announcement regarding 1st Investor's meet.

[legendster]

Posting for $100 BTC for PP.

Responded.

[Bitcoin4ever]

Hi,

I want to buy BTC with Skrill/Neteller. I'm verified on each for more than 3 years. Please send your current rates by PM.

Regards
Chris

[legendster]

Hi,

I want to buy BTC with Skrill/Neteller. I'm verified on each for more than 3 years. Please send your current rates by PM.

Regards
Chris

Sending PM now.

[legendster]

okayy.
Neteller and Liqpay both have raised their charges significantly.
Hindering my better rates.
Will update with new rates soon.

[legendster]

For both Neteller & Skrill
The price breakdown :

Exchange payment gate commission : 6.5%  ~ 7.8%

Funding Source charge (Visa/Bank Wire/E currency) : 1.75%

Sourcing Exchange charge :
Vwox : 19%
BTC-e: 10%
MtGox: 10%
KROGYAN's Stock : 2% (very limited and only for minimum 4 time repeat customers)

Mediator's Charge (my charge or KROGYAN's Service Charge for accepting Neteller/Skrill/Paypal)
+ 10% (below $1000)
+ 8%   (below $9999)
+ 7.5%($10,000 and above)

If you want to purchase from btce your effective rate should be : BTC-e price + (10% + 6.5% + 1.75%) + 10% = 28.25%

[bitcoinisfurture]

Just curious to understand this, if 28.25% to be applied on the btc-e rates, then why should one purchase from BTC-E since it would be expensive then Indian sites selling it.

Correct me if the opinion differs.

[legendster]

Just curious to understand this, if 28.25% to be applied on the btc-e rates, then why should one purchase from BTC-E since it would be expensive then Indian sites selling it.

Correct me if the opinion differs.

Then the answer is :
The Indian sites selling it, mostly are new and out of stock and untrustworthy. Frankly, I have faced many jokers here who tagged me as a scammer just cuz I m from India.

But there are genuine sites like buyselbitcoin, localbitcoin sellers and inrbtc but as I said, even though genuine they easily run out of stock.

Krogyan is still not a fully functional Exchange, when we do become one, we will too be able to offer bigger stocks & more locally competitive rates.

The unique thing about KROGYAN is that it is not biased towards paypal or skrill or Neteller.

[legendster]

http://paper.hindustantimes.com/epaper/viewer.aspx

DID any one miss this HT article ?

    20 Apr 2013
    Hindustan Times (Kolkata)
    Gagandeep Singh Sapra letters@hindustantimes.com

Ready to trade in Bitcoins?
CRYPTO CASH New digital currency mixes elements of hawala trade and old-world barter

NEW DELHI: Something manufactured out of thin air suddenly becoming as ubiquitous as the US dollar? It might seem strange, but the idea of a digital currency is, well, gathering currency.

The Wall Street Journal reported on Friday that Western Union and MoneyGram, two of the world's largest movers of remittances, are studying ways their customers could use their services to transfer money denominated in Bitcoin — though there are no immediate plans.

Two years ago, no one seemed to have heard of that, but the toddler is now hot after a speculative rush. The site Coinbase.com describes the Bitcoin as “a decentralised, digital currency that is changing the world of payments.”

Let's get the first thing straight. No government is yet backing Bitcoin, which for Indians may sound as familiar and strange as hawala. Though hawala refers to an illegal transfer of money used to deal in obscure funds, Bitcoin is a different animal.

It helps people pay each other from virtual accounts linked to websites and mobile payments.

WHAT IS IT?

Bitcoin is a currency generated on peer-to-peer computer networks using software. Each user has a Bitcoin Address, which is like a unique identity Bitcoins basically exist in computers and mobile handsets - as bits and bytes. They are traded in the market and exchanged for or against real money.

Bitcoin is one of the first implementations of a concept called crypto-currency, which was first described in 1998. Its origin is still a mystery. It is designed around the idea of a new form of money that uses cryptography to control its creation and transactions, rather than relying on central authorities. There’s a Bitcoin Foundation to standardise it.

WHAT IS ITS WORTH?

From the time that Bitcoins came on the market around the start of 2009 to now some 21 million bitcoins have been generated and on April 9, it traded at $190 per (around R10,000) Bitcoin and zoomed to $266 the next day and resumed its fall later. In simple words, it is volatile.

IS THIS A BUBBLE?

In theory, all money is virtual as they only represent underlying information. But they need acceptability. Bitcoins are accepted by some ecommerce vendors and some experts. By and large, acceptability is in question.

So one has to wait and watch. The key point is that unlike real world currencies that are backed by gold and other economic assets like oil reserves — or by government assurances, there is none here.

IS THIS ILLEGAL?

It seems not but there is no government recognition and hence Bitcoin certainly does not enjoy legal protection. There have been reports of people downloading Bitcoin mining software from unknown websites and expos-

ing themselves to virus attacks.

HOW DO I GET BITCOINS?

You have to choose between an Android mobile or a desktop platform (Windows, Mac and Linux). There is a dedicated software called Bitcoin Wallet (from www.bitcoin.org). Bitcoin-Qt is an app (application) you can download for Windows, Mac and Linux, while Bitcoin Wallet for Android runs on your phone or tablet.

The Bitcoin address works like a bank account. You can also go for Web wallets but that requires some extra work.

[bitcoinisfurture]

Just curious to understand this, if 28.25% to be applied on the btc-e rates, then why should one purchase from BTC-E since it would be expensive then Indian sites selling it.

Correct me if the opinion differs.

Then the answer is :
The Indian sites selling it, mostly are new and out of stock and untrustworthy. Frankly, I have faced many jokers here who tagged me as a scammer just cuz I m from India.

But there are genuine sites like buyselbitcoin, localbitcoin sellers and inrbtc but as I said, even though genuine they easily run out of stock.

Krogyan is still not a fully functional Exchange, when we do become one, we will too be able to offer bigger stocks & more locally competitive rates.

The unique thing about KROGYAN is that it is not biased towards paypal or skrill or Neteller.

Thanks for the info. Is KROGYAN based out of from India? Also am i correct that 28.25 % if to be calculated its much more costlier then the Indian sites (as stock is always there on INRBTC though price could be a factor).

[legendster]

Just curious to understand this, if 28.25% to be applied on the btc-e rates, then why should one purchase from BTC-E since it would be expensive then Indian sites selling it.

Correct me if the opinion differs.

Then the answer is :
The Indian sites selling it, mostly are new and out of stock and untrustworthy. Frankly, I have faced many jokers here who tagged me as a scammer just cuz I m from India.

But there are genuine sites like buyselbitcoin, localbitcoin sellers and inrbtc but as I said, even though genuine they easily run out of stock.

Krogyan is still not a fully functional Exchange, when we do become one, we will too be able to offer bigger stocks & more locally competitive rates.

The unique thing about KROGYAN is that it is not biased towards paypal or skrill or Neteller.

Thanks for the info. Is KROGYAN based out of from India? Also am i correct that 28.25 % if to be calculated its much more costlier then the Indian sites (as stock is always there on INRBTC though price could be a factor).

Currently Krogyan.com is hosted (under construction) and operated (on forum) from and within India.
That hefty rate is the exchange payment gate rates that I have no control over, KROGYAN's overcharge is 10%

I am in talks with a few payment processors and once our website is in beta stage users can expect a payment rate drop to +16% including KROGYAN's overcharge.

But initially if we arent able to set up an automatic payment gate, we might go for a more trader to trader manual exchange, much like bcchanger or Inrbtc.

[legendster]

Wow Seems like ages since I have been on here but it only has been since january (I think)

So yeah, basically the cliched "gayee bhais pani me" thing happened when Buysell got his notices and I got my phone call and investor pull out, leaving Krogyan dead in the water. To add to that the whole thing with gox had to happen.

Anyways, there is seems to be some hope up ahead, read on.
Since Jan, I have been traveling. I have been speaking to state financial heads and possible new investors/sponsors from all over the country, gauging the official awareness of cryptocurrencies in India and which state would be the best suited to become the Bitcoin Valley of India.

I was very excited when initially my investors came up with this 'touring' idea but the thing had a bad start, I was really hopeful of our bengal's new "for the people" govt to take me more seriously than they did. After that my investors ditched me and I was really saddened. So after being preoccupied about some other things I decided to fund the "tours" myself and meet these so called "important people I'd like to flatter to get started". And so it started and some were rather very interesting where I had to sit and explain to this 'important' person about who is Satoshi and why would people take computer generated numbers instead of money, some in particular the Mizoram trip was interesting, the person I met (not naming who as per request) was relevantly informed about the entire Bitcoin movement in India, and so was my last trip where I met a government official in Goa he was well informed too (seems like not all govt officials are dumb as a desk), so my 'tour' will continue through out this year and I will continue to support the source code for my website financially, but I will refrain from releasing anything publicly until more support from our govt arrives.

I might be a little out of date as far as more current issues are concerned.

[BitCoinDream]

Wow Seems like ages since I have been on here but it only has been since january (I think)

So yeah, basically the cliched "gayee bhais pani me" thing happened when Buysell got his notices and I got my phone call and investor pull out, leaving Krogyan dead in the water. To add to that the whole thing with gox had to happen.

Anyways, there is seems to be some hope up ahead, read on.
Since Jan, I have been traveling. I have been speaking to state financial heads and possible new investors/sponsors from all over the country, gauging the official awareness of cryptocurrencies in India and which state would be the best suited to become the Bitcoin Valley of India.

I was very excited when initially my investors came up with this 'touring' idea but the thing had a bad start, I was really hopeful of our bengal's new "for the people" govt to take me more seriously than they did. After that my investors ditched me and I was really saddened. So after being preoccupied about some other things I decided to fund the "tours" myself and meet these so called "important people I'd like to flatter to get started". And so it started and some were rather very interesting where I had to sit and explain to this 'important' person about who is Satoshi and why would people take computer generated numbers instead of money, some in particular the Mizoram trip was interesting, the person I met (not naming who as per request) was relevantly informed about the entire Bitcoin movement in India, and so was my last trip where I met a government official in Goa he was well informed too (seems like not all govt officials are dumb as a desk), so my 'tour' will continue through out this year and I will continue to support the source code for my website financially, but I will refrain from releasing anything publicly until more support from our govt arrives.

I might be a little out of date as far as more current issues are concerned.

Good to know that someone is touring India for bitcoin

So your exchange is P2P or Real Time ? Is it going to be a State Run Exchange ?

[legendster]

Good to know that someone is touring India for bitcoin

So your exchange is P2P or Real Time ? Is it going to be a State Run Exchange ?

To be honest the 'touring' is work related thankfully I am free enough to do this on the side.

The initial idea was a traditional margin trade approach but it really evoloved into a combination of c2c and margin during the limited pre beta testing we did, I'm more into the traditional trading method than the c2c. Its best to see it in action when it gets it's release as a beta platform.

And no, it wont be state run, hell even USA didnt want anything to do with it and here we are talking about our desi ghooskhors. The idea is to get complete or partial immunity from the crackdown (the likes of which Buysell faced) if such a thing were to ever occur again. I have consulted with a few lawyers since 2013 who have defined a clear pathway for me to follow I'm just trying to do that for now.

[virtapayseller666]

Sold him 0.05 BTC and purchased Amazon gift voucher. I went first he sent me my voucher instantly

[legendster]

Sold him 0.05 BTC and purchased Amazon gift voucher. I went first he sent me my voucher instantly

Total Value of 2 trades :
0.05 + 0.03 = 0.08 BTC

last trade ref here : Ref

[Sam_794]

Hi guys,
I m pretty new to Bitcoins.
Began researching about 3 months ago (~December 2012), joined in about few weeks ago (April) and yes I was lucky enough to buy some coins during the crash.
As of late I have got many offers to buy and sell coins and was mostly offered by my countrymates, which leads me to the conclusion that they have faced similar problems in buying coins as I had.

My biggest problem is that the Bank account I operate has no Swift or IBAN number a BIG issue.


-UPDATE-
New bank account with SWIFT and IBAN number is now obtained.

Accepted Payment Methods for Buying FROM Exchange :

*Cash Deposit

*Online NEFT To Baroda/Axis bank

*Paypal for small and medium transactions internationally.
(Buyer pays all the paypal charges + $2)

*Skrill nationally and internationally. There are advantages in this method that I will explain only to trusted customers.

*Neteller (Minimum $600)

*Entropay Account Transfer (Upto $4000 - Ask for details)

*Now Accepting Airtel Money upto Rs10000





So I've been thinking about this little forum exchange that I can operate through here - on Bitcointalk.org
Basically I will charge a little fee initially to support my buying capability and as time passes on I will reduce the fee.

ABOUT THE EXCHANGE AND HOW IT WILL WORK

You must send me your request/quotation here ( NO private messages first)


So lets say you want to buy anything more than 1.5 Bitcoins worth Rs 5500 (~ $100)

If you want to BUY coins from me through Bank Wire / NEFT I will charge Rs250 (Fixed) as bank Charge and
http://btcticker.appspot.com/mtgox/1btc2usd.png +14% See Rates Below.

If you want to SELL me your coins through Bank Wire / NEFT I will charge Rs 300 (Fixed) and http://btcticker.appspot.com/mtgox/1btc2usd.png - 10% See Rates Below.


For International guys - I will also accept paypal but you will have to wait for 3 ~ 6 Days before I can send you any coins.


I ACCEPT LINDEN DOLLARS !

*Though NEFT Transfers are fast, I will only send you any coins when my bank realizes your payment, in any case if it delays for more than a Day (weekends) I will offer you the current rate at the time of the realization of the payment - else I will deduct any transaction charges from the bank & return your money.*


So lets say you want to buy anything BELOW 1.5 Bitcoins contact me first (or post a quote request)

=======================================SALES UPDATES=======================================

*LATEST BUYERS*

Axorb
Fifth_Id
iigor                 (paypal)
AndrewHenson  (paypal)



*LATEST SELLERS*


sublime5447



Buying Rate (from Exchange)                                       Selling Rate (to Exchange)

   (RATE)INR                  Quantity               Total (INR)                                |                               (RATE)INR                Quantity              Total (INR)
    
      81500                     0.5                   40750                                                                                                                
      81500                     1.0                   81500                                                                                                                
      81500                     5.0                   398646                                                                                                                
                                                                                                                                                                                                  

                                                                                                                                                                          

                                                                                                                                                        

LOCALBITCOINS.COM PROFILE

===================================EXCHANGE UPDATES=====================================

(20th April 2013)
After 29th April 2013 I *might introduce Btc-e rates.

(20th April 2013)
If/When I reach 100 Sales I will announce the dates of a dedicated website launch.
The site will be similar to MtGox but will be directed towards Asian Buyers specifically Indian buyers & sellers.

(30th April 2013)
Trying to get my account verified by Mt Gox to allow withdrawing to Okpay and still in talks with a *website which will allow me to fund my btc-e account directly with my cards and no its not Interkassa or anything that is listed there.

Will update you guys here once everything is up & I am able to sell at good rates. Till then its Virwox + 10%.

(4th May 2013)

DO NOT BUY FPGA's from anyone,  am in talks with a friend we are planning to develop our own.

FUND US ! We will probably be able to get high speeds almost like a jalapeno or mars.

I will confirm this in a few weeks.

Can you explain more on this?

Also interested in this, what does it involve.

I WILL update you guys on this once I have a working prototype and If I end up requiring pre orders for financing the project I will also let you guys know. For now all I can say is that I have been talking with few Indian FPGA developers and Asic developers and working on a prototype, everything is on paper right now, and there is no physical device that I can show you at the moment, but when I do I bet this fpga miner will be very useful.



(4th May 2013)

Current rates as of May 4th 2013 are Virwox +12.5%

(6th May 2013)

New rates will be updated on the table above.


(11th May 2013)
Purchased www.Krogyan.com
For Possible future Setup of an Exchange in this name.

(11th May 2013)
GOX + 16% for quantities above 1 BTC

(15th June 2013)
Opened Branch Thread in Newbies Section (Noob Jail)

(30th Nov 2013)
Announcement of Krogyan 1st Investor's Meet at Kolkata


(2nd Dec 2013)
Changed Hosting Server

Need some bitcoins approximately .8 - 1 btc....can you help me out.

[legendster]

Necro-ing this old thing because I'm all teary-eyed reminiscing about those old days.

The topic was never locked. So on 16th August 2018 23:07 I am locking this with 11574 views