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

[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.