100bit.co.in - Direct trading exchange for FIAT and Alt coins against Bitcoin

[100bitcoin]

Happy New Year bitcoiners

A lot of things have taken place at our end in last few months. We did not expect it will take so much time, but we are happy to say, that at last we are close to launch. OP is updated with the latest info. Expecting support from the community...

www.100bit.co.in

[shahadil]

okay how am i to register for this if i dont have a referral id. and assuming i am the first person to register, whose referral id do i use?

[100bitcoin]

okay how am i to register for this if i dont have a referral id. and assuming i am the first person to register, whose referral id do i use?

Thank you for your interest. We are not yet open as we are still testing some usability. After our testing, we are planning a testing phase by some forum members with small amount of fund. Then only we will open for public.

[RocketSingh]

Happy New Year bitcoiners

A lot of things have taken place at our end in last few months. We did not expect it will take so much time, but we are happy to say, that at last we are close to launch. OP is updated with the latest info. Expecting support from the community...

www.100bit.co.in

I think you are going to be the first exchange to offer direct trading between alt coin & bitcoin. Would be interested to see how it turns out...

[100bitcoin]

Happy New Year bitcoiners

A lot of things have taken place at our end in last few months. We did not expect it will take so much time, but we are happy to say, that at last we are close to launch. OP is updated with the latest info. Expecting support from the community...

www.100bit.co.in

I think you are going to be the first exchange to offer direct trading between alt coin & bitcoin. Would be interested to see how it turns out...

Not sure. For the time being, only LiteCoin & DogeCoin are included. More will be added gradually...

[bitbibit]

New 100bit looks cool.... all the best for the new venture. Thanks for a multi crypto exchange was very much needed in India. Kudos.

[chronicsky]

So it's finally up!
Seems good!
am in for now

Edit: it needs a referal code

[Amitabh S]

Few questions to the site owners:

It says:
"Please have 0.01 BTC ready along with transaction fee (around 0.0101 BTC is enough). You need to pay that amount at the time of email confirmation."
Why do you need 0.01 BTC for registration? Can you explain the rationale behind this?

Also it does not seem like a real-time platform like coinsecure.. After placing orders, I need to send funds. How is this different from localbitcoins? What would be the benefits for me?

For altcoins, why would I use this over other exchanges?

Need some information about the company on the site. Who is running the site?

Are deposits and withdrawals automated?

[100bitcoin]

New 100bit looks cool.... all the best for the new venture. Thanks for a multi crypto exchange was very much needed in India. Kudos.

Thank You...

So it's finally up!
Seems good!
am in for now

Edit: it needs a referal code

Sent PM...

It says:
"Please have 0.01 BTC ready along with transaction fee (around 0.0101 BTC is enough). You need to pay that amount at the time of email confirmation."
Why do you need 0.01 BTC for registration? Can you explain the rationale behind this?

100bit.co.in is an invitation only platform. It requires a referral & 0.01 BTC to join 100bit.co.in. An user earns 0.003 BTC from each referral joining.

Also it does not seem like a real-time platform like coinsecure.. After placing orders, I need to send funds. How is this different from localbitcoins? What would be the benefits for me?

Indeed it is more like LocalBitcoins, but it allows Alt coin trading and does not require you to keep your fund deposited with us.

For altcoins, why would I use this over other exchanges?

i. In case of any security breach, there is no chance that your fund will get affected, unless you have a live trade exactly at that time.

ii. 100bit.co.in trading fee is same for all volume of trade. It is 0.001 BTC flat for each trade.

Need some information about the company on the site. Who is running the site?

As of yet, we are in Beta (i.e. testing phase), and not an independent legal entity. Our legal team is working on the independent legal status, which is a bit grey area as we do not handle any FIAT at our end.

Are deposits and withdrawals automated?

FIAT/ALT coins move directly between users. Only bitcoin remains on hold with 100bit.co.in, when a trade is in progress. Deposit & Withdrawal of bitcoins are automated.

[TigerMart]

Good to see that it has been launched. Why not give me a referral ? I'd like to join...

[100bitcoin]

Sorry to keep you guys waiting. We have done some changes in the platform. You are now free to join. If you face any problem, feel free to report here...

[bitcoinisfurture]

Kindly provide the details of the people who are involved with 100Bit.co.in

[Rotten Egg]

Kindly provide the details of the people who are involved with 100Bit.co.in

I dont think they'll disclose their identity in public forum before they get their legal status worked out...

Need some information about the company on the site. Who is running the site?

As of yet, we are in Beta (i.e. testing phase), and not an independent legal entity. Our legal team is working on the independent legal status, which is a bit grey area as we do not handle any FIAT at our end.

[bitcoinisfurture]

1) By when are you expecting the 100Bit.co.in to be started?
2) How different it will as compared to coinsecure?
3) What is the base location?

[100bitcoin]

1) By when are you expecting the 100Bit.co.in to be started?

You might start testing the platform with small amount.

2) How different it will as compared to coinsecure?

100bit.co.in is more like LocalBitcoins, but it allows Alt coin trading and does not require you to keep your fund deposited with us.

3) What is the base location?

There is nothing location specific here. We are open for the global user base.

[newIndia]

Why only LiteCoin & DogeCoin are listed among AltCoins ? Why dont you add other popular ones, like Stellar, NXT etc. ?

[100bitcoin]

Why only LiteCoin & DogeCoin are listed among AltCoins ? Why dont you add other popular ones, like Stellar, NXT etc. ?

Depending on the demand we will be adding up more gradually.

[newIndia]

Why only LiteCoin & DogeCoin are listed among AltCoins ? Why dont you add other popular ones, like Stellar, NXT etc. ?

Depending on the demand we will be adding up more gradually.

Ok. Placed a small trade recently. It was executed swiftly. Nice experience. Will use it again...

Just a small suggestion, try to increase the volume. Sometimes the INR trades are empty.

[100bitcoin]

In the last one month multiple trades have taken place on 100bit.co.in against INR. We'd like to know people's general experience about it. Feel free to share, if you had any negative experience.

[legendster]

In the last one month multiple trades have taken place on 100bit.co.in against INR. We'd like to know people's general experience about it. Feel free to share, if you had any negative experience.

You need new servers and higher bandwidth. A more intuitive UI design (PM me I can help with design). Most importantly you need international traders. Dont market it as an Indian website.

Edit: PS : If you want real reviews create a non self moderated thread.