.

[icoinv]

.

[Benson Samuel]

Access exchange under this URL

https://i-co.in

User 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.in
Follow us at https://twitter.com/icoinv

Nice. 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?

[Benson Samuel]

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.

[laserwolf]

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.in

User 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.in
Follow us at https://twitter.com/icoinv

[Benson Samuel]

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.in

User 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.in
Follow us at https://twitter.com/icoinv

http://domaindb.in/i-co.in

Not 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.

[Pinwheel]

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.

[Dashing]

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")

[Pinwheel]

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.

[Benson Samuel]

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.

[axorb]

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

[Dashing]

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.

[drdanishkhan]

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]

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?

[subvolatil]

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 :-)

[subvolatil]

O i forgot  to ask  you, how  are you getting  around  the  RBI  guidelines  of  withdrawing  INR from you  e-wallets  .

[drdanishkhan]

Sooo sorry dishwara.. i meant pinwheel.. apologies.

[subvolatil]

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 .

[Benson Samuel]

 
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.

[wisard]

What are your security measures?
What percentage of funds are kept in cold storage?
Do you intend to provide 2-factor authentication?

[wisard]

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?