[ANN] Exchange Major Alt coins at PocketBits.in

[MrMerchant]

I happened to check that your site would be providing the cheapest among all exchanges rates as you were recently started as compared to all others for btc.

Well if I buy from you site at present rate is 81512 (addition if there is any fees to it) and you are buying from local bitcoin at 79080 and probably selling at your site at 81512.

Well now I am confused what is the benefit of buying from your site rather I should directly buy from Localbitcoin and could easily save 1700+ Rs around for 1 btc.

 

i havent used this exchange site but i can tell you something do not use localbitcoin just to save 1700 rs,i have many good and bad experience with localbitcoin site thats why it is preferable to use trusted exchanges rather than escrowing exchange.it is fast and easy rather going through different procedure.and talking about 1700rs ,it is very easy to earn that amount you just need experience and time for trading.

Well there is LBC Support, but you have to be well versed in the system to avoid getting scammed. That said, direct p2p deals can be good too if you trade with the highly rated users, but even they charge the same approx market rate as on Brokerages and Exchanges

[1715461819]

1715461819

[1715461819]

1715461819

[MrMerchant]

Verification process document requirement is way too much strict. It is asking Passport, National id card and driver licence. I don't recall any other exchange, wallet being this strict. Are there any plans to make more user oriented and less obscure like onces they ask at Government office?

Could you add the ripple as well ? Make sure to get more alt-coins. Rates offered are good. What are the fees for transfer and trade?

Apologies, but you must have read the ID requirements in our FAQ section, we had those procedure when we launched, but we have since eased on for the same and now the process is as easy as it could get.

We only require a Copy of Pan Card and Bank Details, the signup process is seamless now and is backed by our 59 Minute Guarantee.

We will also update the FAQ's asap, apologies for the inconvenience caused.  

Pocketbits does not charge any fees for Bitcoin Trades, minor Altcoin fees are levied by Shapeshit which are included in the current price for the Altcoin.

Update: Ripple has been added now


Regards
The PocketBits team

Great! I. Thank you for clearing all doubts.  I appreciate addition of ripple in the wallet.

We bank on our User's feedback to Improve, we will certainly add more features and come out of BETA stage for a full launch, stay tuned

[MrMerchant]

I happened to check that your site would be providing the cheapest among all exchanges rates as you were recently started as compared to all others for btc.

Well if I buy from you site at present rate is 81512 (addition if there is any fees to it) and you are buying from local bitcoin at 79080 and probably selling at your site at 81512.

Well now I am confused what is the benefit of buying from your site rather I should directly buy from Localbitcoin and could easily save 1700+ Rs around for 1 btc.

 

i havent used this exchange site but i can tell you something do not use localbitcoin just to save 1700 rs,i have many good and bad experience with localbitcoin site thats why it is preferable to use trusted exchanges rather than escrowing exchange.it is fast and easy rather going through different procedure.and talking about 1700rs ,it is very easy to earn that amount you just need experience and time for trading.

Yes, this is very valid point. To make the point, when the amount of 81000 at stake, very few will think about profit Rs1500 than losing Rs.81000 if something goes wrong. So either user could earn profit of Rs1500 or loss of 81000. At localbitcoin or btxindia it is difficult and time-consuming to solve dispute. However at the wallet services like pocketbits.in or zebpay or unocoin you could get things solved pretty easily and there is less chance of getting defrauded by someone.

If user has sufficient experience in exchange-trading and taken precautions like verification of next party then risk could be minimized. And user could earn profit.

+1

[MrMerchant]

Wanted something like this to buy altcoins easily, will check it out and will write my experience here.
I would like to know about the Bookmyshow voucher, whether it'll be valid even if we buy Bitcoins through altcoins or buying altcoins with Bitcoin..?
Good luck for your project.

We have temporarily paused our Altcoins conversion as there are some minor issues regarding pooled btc deposits with our partner ShapeShift, we will soon relaunch our Altcoins feature with our Stable Release coming soon.

The bookmyshow voucher was available only for Bitcoin Purchases, as the Altcoins feature is just for the community and we don't charge any fee on that, hence there are currently no promotions for converting to and from Altcoins.

The Bookmyshow promo has been updated to Bitcoins worth the same value as we realized that Bitcoins would serve better then BMS vouchers as many vouchers just end up unused.


We would certainly like you to document your experience with us on BTCTalk so that we can gauge the user experience and Improve more.

Regards

[MrMerchant]

What is the name of the company behind PocketBits.in?

Have a quick look at their website:
https://pocketbits.in/AboutUs

or

Google:

CIN	Company Name	State	Incorporation Date
U72900MH2016PTC285381	DEFACTO TECHNOLOGIES PRIVATE LIMITED	Maharashtra	31/08/2016

or

Search this forum:
https://bitcointalk.org/index.php?topic=1782398

-_-

Thank you for taking the effort to answer @RottenEgg's question.

Much appreciated

[MrMerchant]

There are already many such exchanges out there, well good luck with the project but you got tough competition.  

Well Competition is required for a Ecosystem to grow, and we bank on Innovation rather then following on the existing company's footsteps.

There is plenty of space for even more Bitcoin Or Blockchain companies in India.

Thank you for the wishes, we wont let you down

[ishanindia]

The rates that are  mentioned on the top left corner of the websites are inclusive of all kinds of taxes /transaction fees/charges etc.  or will I be surprised to see them added at the checkout page ? 

[reliable]

Why there is no standard rates between your website and your buying rates on Localbitcoin?

I want to sell say 1 btc. If i sell on you website I will only get at present 274260 and same 1 btc if I sell you on Localbitcoin you are buying at 279719. Which mean if I sell on your website I am directly at a loss of 5459.

When you buy at Localbitcoin you have to pay 1% fees. So effective your buying rate will be 279719 + 1%(2797) = 282516.

Don't you think that you should be buying at the same price on you website too? instead of 274260 it should be 282516. Which means user who sells on your site actually sells in a loss?

[13abyknight]

Glad to see the rise of more altcoin exchanges in India and not trying to profiteer like Zebpay or Unocoin. With that being said, I will be using this site to set up small investments in a few altcoins and will leave an overall feedback here when done.

[misterbigg]

Have heard pocketbits working on Orderbook
when can we expect that?