Topic: Are zebpay,coinsecure,btcxindia and other authorised? (Read 2889 times)
has anyone tried selling coins on this website? do they actually wire the money to your bank account? It's kind of hard to sue them in India if they run away with the money.
i dont think any of these exchanges are authorized by govt. or SEBI !!!
thats why some stock investors dont invest in BTC or other cryptocurrency
thats why some stock investors dont invest in BTC or other cryptocurrency
Sounds like an interesting discussion. Does anybody has experience on whether the government will ask for tracking of how the coins were earned and all that if one pays the taxes?
Still there is no rule for the regulation of crypto currency in india, even India still not banned any crypto currency. Companies like zebpay, coinsecure, unocoin.... doing business as others are trading with commodity. They are collecting user kyc to show government if government will ask them about their user data and proof of the users who are trading in their platform. If India will ban crypto currency then those company can also operate from different country as seen in china.
Yes, They Do have Company registration Etc
So do people need to report taxes if you use sell ETH say using Unocoin?
I think zebpay is the most famous and trustable bitcoin exchange in india,....
Yes, They Do have Company registration Etc
So do people need to report taxes if you use sell ETH say using Unocoin?
indian govt has not approved bitcoin as legal then there is no question of authorization of these sites , no one authorized them to take our details .. it is just a contract between you and company ..
regarding safety of documents , these sites are reputed (not like other scam sites) so chances of misuse are less , bcoz they are here for business not for our documents ..
regarding safety of documents , these sites are reputed (not like other scam sites) so chances of misuse are less , bcoz they are here for business not for our documents ..
There is nobody in India which are authorized to run or deal in bitcoin. Because govt has not given any license to run any of the exchanges or site since currently even govt has not made the bitcoin legal yet so there is no possibility of even authorization anybody in India. And unsure if they would giving any licence to this exchanges in coming time as well unless they approve it.
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
Authorization here could mean two things first if they are licensed and regulated and second that they are legal. Answers are that no they are not licensed or regulated until now. But yes they are absolutely legal and work as a registered company. So yes they are authorized but not regulated. we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
Yes, They Do have Company registration Etc
Do they track the source of the BTC in case I sell through Zebpay? Does anyone has any experience with this? If the BTC was received as a payment for services rather than from investment activities.
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I would like to know how they can misuse the above mentioned documents by just having a scanned copy? I agree they have your personal details with these documents but it is not possible to use them for any illegal purpose.we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I'm not they will use it for illegal purpose, and they won't do it in reality too, but if they want they can create an account with our documents on some other btc exchange. But, they will get caught easily if we file a case against them
Hi , The query is a good one. But all the answers given are not satisfying and are wrong. I havent checked with everything but coinsecure. Coinsecure is a registered company under the name of SECURE BITCOIN TRADERS PRIVATE LIMITED. And for a company to be registered to handle money, they have to be approved from the RBI. So the first condition RBI put forward is to keep track of all the transactions carried out through coinsecure, and RBI also makes it mandatory for collecting the documents, so they can track the details of flow of money of each and every person. Imagine a person has lots of black money and when the Income tax raids him , he can easily slip of saying that he made it through bitcoin and there is no proof for the officials to prove him wrong. SO to control all this it is mandatory for RBI to keep track of all the transactions that are done through coinsecure. For the details of the company you can google up the name or search in https://mca.gov.in (Central Govt. site). So you dont have to worry about your data being misused by coin secure. Hope The query is cleared.
I agree with others but still, why all these types of internet companies ask documents to upload on their server. These things could increase the possibility of identity theft if a website compromised or sell user data.
There are also other companies like PayPal and Payoneer works according to the RBI guidelines, but they don't ask for documents, all they need PAN no. and your account gets easily verified.
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I would like to know how they can misuse the above mentioned documents by just having a scanned copy? I agree they have your personal details with these documents but it is not possible to use them for any illegal purpose.we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I'm not they will use it for illegal purpose, and they won't do it in reality too, but if they want they can create an account with our documents on some other btc exchange. But, they will get caught easily if we file a case against them
In addition to the above, the documents you send to the banks or their subsidiaries are also at same risk. What makes you think. The subsidiaries are the one who sells services like credit card or insurance or other financial tools to the customer. Banks can not sell these directly to the customer. Even if someone makes fake account in any exchange but the money needs to be sent from the some bank account. It is not that easy to do it (though if target person is careless then it is not that difficult as well). Thus there is risk but when something goes wrong in business bitcoin exchanges will have a proof about the identity of person they allowed to trade. Think about money laundering investigators will do when they find out exchanges allowed unverified person. This is the same reason PBoC (china) has sanctioned chinese exchanges to things straight.
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I would like to know how they can misuse the above mentioned documents by just having a scanned copy? I agree they have your personal details with these documents but it is not possible to use them for any illegal purpose.we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I'm not they will use it for illegal purpose, and they won't do it in reality too, but if they want they can create an account with our documents on some other btc exchange. But, they will get caught easily if we file a case against them
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I would like to know how they can misuse the above mentioned documents by just having a scanned copy? I agree they have your personal details with these documents but it is not possible to use them for any illegal purpose.we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I'm not they will use it for illegal purpose, and they won't do it in reality too, but if they want they can create an account with our documents on some other btc exchange. But, they will get caught easily if we file a case against them
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I would like to know how they can misuse the above mentioned documents by just having a scanned copy? I agree they have your personal details with these documents but it is not possible to use them for any illegal purpose.we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I'm not they will use it for illegal purpose, and they won't do it in reality too, but if they want they can create an account with our documents on some other btc exchange. But, they will get caught easily if we file a case against them
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
Usually self-attested copies of documents are required for all purposes - whether it is opening a bank account or getting a phone connection. So when you attest a copy, make sure you put the date and purpose on it (For eg - "Vodafone, 27-Apr-16"). This reduces the chance of misuse.
Most cases of misuse happen when third parties are engaged to collect documents, not when you deal directly with banks or exchanges. The penalties for misuse are high and institutions in general would have safeguards to prevent that.
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
I would like to know how they can misuse the above mentioned documents by just having a scanned copy? I agree they have your personal details with these documents but it is not possible to use them for any illegal purpose. we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
The process is similar to submitting documents to banks or insurance companies. There is no law which binds any two parties to exchange information until both parties are consenting to exchange of information.
Essentially they offer a service and they set their rules and the choice is your's if you would like to subscribe or not.
Government or laws have no role to play in this. It is an agreement between two consenting entities.
I became extremely happy after listening your answer. I really didn't knew this. You said absolutely right that two persons or two parties can do any agreement in between them and exchange each other's details. It's our self-responsibility to check which detail are we providing to whom. And there's no involvement of government in all this.Essentially they offer a service and they set their rules and the choice is your's if you would like to subscribe or not.
Government or laws have no role to play in this. It is an agreement between two consenting entities.
Thank you
The process is similar to submitting documents to banks or insurance companies. There is no law which binds any two parties to exchange information until both parties are consenting to exchange of information.
Essentially they offer a service and they set their rules and the choice is your's if you would like to subscribe or not.
Government or laws have no role to play in this. It is an agreement between two consenting entities.
Essentially they offer a service and they set their rules and the choice is your's if you would like to subscribe or not.
Government or laws have no role to play in this. It is an agreement between two consenting entities.
In future, when regulation on cryptocurrencies comes out, if bitcoin is recognized as either
a. money or
b. forex or
c. ppi
OR
if these businesses are recognized as either
a. banks
b. foreign exchanges,
then it is a rule by RBI to collect KYC.
(Note: There are minute exceptions to this where a person can open a bank account without kyc)
btw, which company is asking for bank passbook? weird.
a. money or
b. forex or
c. ppi
OR
if these businesses are recognized as either
a. banks
b. foreign exchanges,
then it is a rule by RBI to collect KYC.
(Note: There are minute exceptions to this where a person can open a bank account without kyc)
btw, which company is asking for bank passbook? weird.
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
Quite interesting. Well firstly do you have created account or submitted the details to any the exchanges mentioned above?
hey all...
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
we all well known buying bitcoin is not too easy in india.we must have to fill kyc form and give our PAN,ADHAR CARD,BANK PASSBOOK, for account verification.
there are many exchange in india like-zebpay,coinsecure,btcxindia,unocoin they all need our documents.
now question is that who gave them permission to keep ours pan aadhar card,bank passbook?what is guaranty they will not use our documents for illegal things? is any authority gave permission them to do this?
i know no one going do this but for knowledge i need answer.
give your view please.
thanks!
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