icoinv (OP)
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May 19, 2013, 06:46:57 PM Last edit: February 21, 2017, 03:02:49 PM by icoinv |
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Benson Samuel
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Landscaping Bitcoin for India!
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May 19, 2013, 06:53:46 PM |
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Access exchange under this URL https://i-co.inUser needs to have tax PAN in order to register with exchange. You can transfer funds between exchange account and your bank account from anywhere in india. For any clarifications contact email: support@i-co.inFollow us at https://twitter.com/icoinvNice. But is a PAN needed if a person makes a Bitcoin deposit? May be required to withdraw INR, but not for a BTC deposit. That kept me from registering. Any chances of looking into this?
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Benson Samuel
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May 19, 2013, 06:59:46 PM |
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Thank you for your interest. When you deposit BTC, i believe you obviously would trade for INR which eventually look to withdraw and need to submit PAN. Just to keep things together users required to have PAN while registering.
Not necessary that I would withdraw in INR. People can use an exchange for arbitrage as well.
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laserwolf
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May 19, 2013, 07:03:01 PM |
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So you need my PAN card. great. But who are you guys anyway? Why would I send my BTC or INR your way? Access exchange under this URL https://i-co.inUser needs to have tax PAN in order to register with exchange. You can transfer funds between exchange account and your bank account from anywhere in india. For any clarifications contact email: support@i-co.inFollow us at https://twitter.com/icoinv
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Benson Samuel
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Landscaping Bitcoin for India!
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May 19, 2013, 07:14:30 PM |
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So you need my PAN card. great. But who are you guys anyway? Why would I send my BTC or INR your way? Access exchange under this URL https://i-co.inUser needs to have tax PAN in order to register with exchange. You can transfer funds between exchange account and your bank account from anywhere in india. For any clarifications contact email: support@i-co.inFollow us at https://twitter.com/icoinv http://domaindb.in/i-co.inNot much to dig into. Registrant name, organization, address, etc, seem to be too new to have trace. The T&C Page seems to have substance. There has been legal opinion/ advice/ investment involved. Keen to see some more opinions/ +reps.
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Pinwheel
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May 19, 2013, 09:06:01 PM |
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banks require PAN only if you deposit 50K cash. If you getting 2 lakh incoming transaction or withdrawing 2-5 lakhs in cash PAN is not required. I think for exchange regulations related PAN will be similar. As you are not taking cash deposits you no need PAN at all.
Second legit question if you asking people to deposit bitcoins or INR that would be reasonable to ask what kind of organization behinde of this exchange. It is some one personal savings account, it proprietorship or partnership, it is private limited company.
certain level of public scrutiny and transparency is requited before anyone will deposit anything.
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Tom Waits: We should just start as soon as possible cause we might catch a rabbit before we have our pants on. (Juxtapoz)
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Dashing
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May 19, 2013, 09:09:01 PM |
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Outgoing(Withdrawing funds) 0.99% or 99₹ whichever is higher Might want to think about that, what If I want to withdraw say Rs, 200 ? I'll end up losing Rs. 99 (as you say "Whichever is higher")
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Pinwheel
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May 19, 2013, 09:43:10 PM |
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Outgoing(Withdrawing funds) 0.99% or 99₹ whichever is higher Might want to think about that, what If I want to withdraw say Rs, 200 ? I'll end up losing Rs. 99 (as you say "Whichever is higher") common dont be sily if you have question you can write it here Email:����support@i-co.in wicked sick one week exchange next week a coin.
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Tom Waits: We should just start as soon as possible cause we might catch a rabbit before we have our pants on. (Juxtapoz)
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Benson Samuel
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Landscaping Bitcoin for India!
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May 20, 2013, 02:32:51 AM |
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banks require PAN only if you deposit 50K cash. If you getting 2 lakh incoming transaction or withdrawing 2-5 lakhs in cash PAN is not required. I think for exchange regulations related PAN will be similar. As you are not taking cash deposits you no need PAN at all.
Second legit question if you asking people to deposit bitcoins or INR that would be reasonable to ask what kind of organization behinde of this exchange. It is some one personal savings account, it proprietorship or partnership, it is private limited company.
certain level of public scrutiny and transparency is requited before anyone will deposit anything.
We have done quite research regarding exchange of BTC/INR in legal perspective, invested lots of time. Its in the best interest of all our clients in order to protect them and our organization we are required to have PAN. Thank you. I assume that pinwheels question is geared more towards: 1. Who are you guys? 2. Are you scamming? Genuine Question. Although answer may not be. 3. Most of the WHOIS details looks like a fly-by-night op. 4. SVE does not have internet presence, that makes Pinwheel a bit anxious. Rest assured that we all want an exchange to succeed. Hoping that you are genuine and will be able to run this business with transparency.
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axorb
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May 20, 2013, 04:03:38 AM |
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I like the minimalist design of the site. If you guys are able to pull this of , this is seriously going to be a game changer. I will be monitoring the progress. Good Luck
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Dashing
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May 20, 2013, 08:49:11 AM Last edit: May 20, 2013, 10:55:02 AM by Dashing |
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Outgoing(Withdrawing funds) 0.99% or 99₹ whichever is higher Might want to think about that, what If I want to withdraw say Rs, 200 ? I'll end up losing Rs. 99 (as you say "Whichever is higher") wicked sick one week exchange next week a coin. If that;s referring to BitOcean, Let me make things clear, A week after I opened BitOcean, I did consult a lawyer about it, while he did not have much knowledge about bitcoin, he did explain a few cases and situations which we could encounter on the way and NONE of the situations/cases he mentioned were good, all ended up in either the owners getting arrested on running a Exchange Racket and the funds being seized or a HUGE HUGE fine and the license to run a exchange is NOT cheap either. I NEVER took a single deposit from ANYONE, not even 0.0000001 Bitcoin. I closed it for the better of Bitcoin in India, if BitOcean exchange were to get say seized or bank accounts frozen, it would SERIOUSLY dent the image of Bitcoin in India and that would be pretty bad. I coded it from scratch after weeks of coding and could have just kept it going, but I didn't just for the better of Bitcoin in India, like I mentioned above. Heck, At least I listened to the suggestions that were given in the forums and made needed changes, even if they involved coding a WHOLE new module in a day. And again, I don't know why you're being so angry against me, As I was not trying to be arrogant or rude and I was just asking why the fee was so high and maybe the question I asked about the fee could trigger an idea in their minds to make a way for cheaper withdrawals.
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drdanishkhan
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May 20, 2013, 02:57:30 PM |
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C'mon guys relax.. Dishwara.. dude dont just go on a rampage over every small detail.. people do ask quesyions and it isnt a bad thing.. Dashing.. chillax man.. we are all brothers here..
Cheers guys..
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BTC tip jar 1LrwjfQ41DA9u8PLcQBLp7CueoWotdKshq
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dishwara
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May 20, 2013, 07:03:46 PM |
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C'mon guys relax.. Dishwara.. dude dont just go on a rampage over every small detail.. people do ask quesyions and it isnt a bad thing.. Dashing.. chillax man.. we are all brothers here..
Cheers guys..
Dishwara? when i asked/said anything in this thread?
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subvolatil
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May 21, 2013, 01:05:40 AM Last edit: May 21, 2013, 03:51:28 PM by subvolatil |
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Who are you guys a little details will help . i really don trust "the fly by night operators. "
and not some crappy word about being a bitcoin believers and for the community crap .
your supporting evidence is that, you guys are a registered company with your company details . office phone numbers, office address, list of partners, and your photographs.
and do you have permission to run a bitcoin based business with the bank you are operating with ?
Straight froward questions and require straight forward answers .
Thanks :-)
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subvolatil
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May 21, 2013, 01:34:09 AM |
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O i forgot to ask you, how are you getting around the RBI guidelines of withdrawing INR from you e-wallets .
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drdanishkhan
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May 21, 2013, 01:39:55 AM |
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Sooo sorry dishwara.. i meant pinwheel.. apologies.
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BTC tip jar 1LrwjfQ41DA9u8PLcQBLp7CueoWotdKshq
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subvolatil
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May 21, 2013, 11:08:00 AM |
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Now ive got more questions. guess after looking through your site and details there is a larger Question mark.
You are located in a town no bigger than 10 football fields big in the middle of nowhere. you contact numbers not there . owners name not there. atleast we could see the people before doing business with.
you still have not been able to answer how you are working around the RBI guidelines of withdrawing money from the e wallets .
awaiting your answer eagerly .
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Benson Samuel
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May 21, 2013, 12:25:24 PM |
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you still have not been able to answer how you are working around the RBI guidelines of withdrawing money from the e wallets .
This may not be a problem if it is confirmed to be unregulated. Dunno who is the person who confirms that though.
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wisard
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May 21, 2013, 12:40:50 PM |
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What are your security measures? What percentage of funds are kept in cold storage? Do you intend to provide 2-factor authentication?
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Buy me a beer or 2 if you enjoy my posts. BTC address: 1976Nb5u1T2haoxSZnJgHaemHYYtgKmTsU
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wisard
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May 21, 2013, 12:43:18 PM |
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Why are you hesitant in revealing the names behind the entity? Your terms and conditions say legally this is done by an entity formed in 10 years back. Why not form a new company? What else is this existing company involved in?
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Buy me a beer or 2 if you enjoy my posts. BTC address: 1976Nb5u1T2haoxSZnJgHaemHYYtgKmTsU
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