[BitOcean] Payment methods [Suggestions needed]

[legendster]

Yes, that could hardly buy 1 BTC once the price leveling happens.

Ex. My bills never exceed 2K INR, so is that the limit that I can buy for?

What is the point of over paying?

Not sure what you mean by price leveling.

Have you ever tried to pay for any service before through your phone ?
I dont think their is any restriction to it, I remember doing it once & my bill was 20k that month - BSNL

Got some good thrashing from dad :p

[1714856382]

1714856382

[1714856382]

1714856382

[Benson Samuel]

Can only pay bills by mobile..

[drdanishkhan]

why cant we use bank depositing structure similar to what other currencies and buysellbitco.in are using?? its convenient and fast..

[legendster]

Can only pay bills by mobile..

Lets blow up RBI -_-

[Dashing]

Hmm how about this,

People fund their OkPay account (https://www.okpay.com) using bank transfer etc and with that they can buy BTC / sell BTC on our site ?

https://www.okpay.com/en/developers/payment-methods.html

[Benson Samuel]

http://thenextweb.com/in/2013/04/17/vodafone-launches-m-pesa-mobile-banking-service-in-india-targets-700m-unbanked-people/?

[Fifth_ID]

Hmm how about this,

People fund their OkPay account (https://www.okpay.com) using bank transfer etc and with that they can buy BTC / sell BTC on our site ?

https://www.okpay.com/en/developers/payment-methods.html

I created an account with OK Pay.

Depositing some money is fine (as long as I have an internationally recognized card) but withdrawals seem to be an issue since verification is required. It's been a few minutes since I tried to verify my mobile phone number but nothings happened.

[Dashing]

Ok, so this is what we have finalised,

We will use OkPay for deposits and withdrawals, you can deposit into OkPay with your bank account and then fund your account at BitOcean with your OkPay account, although your balance may show up in USD in OkPay, it will be converted to INR at the highest rate for that day when you deposit into BitOcean

Now, there are many advantages to this,
You can buy and sell on MtGox with OkPay too, so you can take advantages of both markets when trading.

We may allow local cash-in-hand deposits for INR for people in Bangalore.

[Dashing]

Hmm how about this,

People fund their OkPay account (https://www.okpay.com) using bank transfer etc and with that they can buy BTC / sell BTC on our site ?

https://www.okpay.com/en/developers/payment-methods.html

I created an account with OK Pay.

Depositing some money is fine (as long as I have an internationally recognized card) but withdrawals seem to be an issue since verification is required. It's been a few minutes since I tried to verify my mobile phone number but nothings happened.

Click on the "SMS Delivery Troubleshooter." at the SMS verification page and it should work..

[Fifth_ID]

Hmm how about this,

People fund their OkPay account (https://www.okpay.com) using bank transfer etc and with that they can buy BTC / sell BTC on our site ?

https://www.okpay.com/en/developers/payment-methods.html

I created an account with OK Pay.

Depositing some money is fine (as long as I have an internationally recognized card) but withdrawals seem to be an issue since verification is required. It's been a few minutes since I tried to verify my mobile phone number but nothings happened.

Click on the "SMS Delivery Troubleshooter." at the SMS verification page and it should work..

Thanks for the heads up. I just did that when probably were typing the post.

[drdanishkhan]

Dont wanna sound noobish but how can i transfer funds to okay pay??
bank wire requires verification and IDs.. i was thinkin of a more anonymous kind off transaction..
Any other method or a walkthrough anyone??? 

[Dashing]

oh well, the rules and regulations are too tight and sadly we cannot comply with them if we open this exchange.. and we don't want to get into a legal mess because of that, so sorry guys, but the exchange cannot happen.


But,
we will launch a store with which you can purchase physical goods with bitcoins and INR (cash on delivery / bank transfer)

Thanks for the support on the way and hopefully our store will be a success..

[Benson Samuel]

Why not just keep a BTC to LTC exchange at hand.

Zero Investment and people get a working exchange in India.

Then add a Location Based service like locabitcoins.com to engage INR conversions if needed. Obviously no involvement in this from your end.

We know that even without INR, an exchange is very very possible.

Just remove some barriers of entry and add some new ones like other Crypto-currencies, etc.

This is just ONE of several ways to get fixed up with a legal workaround to Bitcoin.

[Dashing]

hmm we could hmm, i'll probably move the exchange to exchange.bitocean.in and make it LTC <-> BTC only

[Fifth_ID]

What India needs is a voucher site where we can buy vouchers using bank transfers (not plastic) and exchange those vouchers for redeemable points or credits. Plenty of Groupon clones in India but no Liberty Reserve or Aurumxchange clones.

An exchange that accepts every alt coin and exchanges it to btc could be very profitable since you'd get business from outside India. Feathercoin seems to be the coin of the month.