Have heard pocketbits working on Orderbook
when can we expect that?
Topic: [ANN] Exchange Major Alt coins at PocketBits.in (Read 3696 times)
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.
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?
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?
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 ?
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
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.
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
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 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.
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
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?
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
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
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 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.
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
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.
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.
LocalBitcoins does not have the Liquidity required for a Brokerage or and Exchange, LBC is a person to person site and the rates depend on the person you are buying from and all of them have a limit of upto the amount of BTC they hold.
Lets say you need to buy 10 BTC but the top most seller(offering the best rate) has less then one bitcoin, the second has three and so on.
In this scenario you would suffer what is known as a slippage, and by the time you get all the bitcoins you need, you would have started trades with 4 or 5 different people at different rates and also complied with their Verification process if any and get the bitcoins at approx the same rates Brokerages and Exchanges are offering but with the Companies you have genuine trail of the process plus the Company can be held accountable for any issues arising and they would also provide Invoices for better accounting of taxes.
Plus you get to buy or sell the amount of Bitcoins you need at a fixed price.
Hope this helps.
Regards
There are already many such exchanges out there, well good luck with the project but you got tough competition.
What is the name of the company behind PocketBits.in?
Have a quick look at their website:
https://pocketbits.in/AboutUs
or
Google:
CIN
What is the name of the company behind PocketBits.in?
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. 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. 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 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. 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. 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 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. 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 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 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 see you are thinking of becoming shapeshift of india.nice project.but you should do more promotion to attract more users for using it and provide some good reason for using your exchange rather than others. Hope you best for the future Thank you for the kind words, We have collaborated with ShapeShift for our Altcoins Platform. As PocketBits is in Beta Stage, we will go all out with marketing once we launch our complete platform with some new innovative features. As far as difference between us and other companies is concerned We offer 24/7 Withdrawals and Deposits of INR even on bank Holidays Via IMPS transfers with our 59 Minute guarantee for Profile Verification, Withdrawals and Deposits any time of the Day or Night and many more advantages. We will also be creating a new post with all the features of PocketBits.in soon. Thank You Best Regards The Pocketbits Team Jump to:
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