Indians should stop buying from Unocoin, Zebpay, Coinsecure, and EthexIndia

kittucrypt

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Ok Check!

Quote from: packpacka on December 03, 2017, 05:47:13 AM

Well guys sweet arbitrage opportunity right now for Indians .

We can see that. I am based in US and wondering how can we synergize to cash in on these arb opps? I can easily source BTC for USD. I am an Indian but been away for some years and thus dont have indian verified accounts. I am just wondering if someone can sell those BTC for INR in India(i am sure there will be 100s of such folks here). But then need a way to convert INR to USD. But since we are in a community here, maybe we can find trust worthy ways to do this. Can someone explain what limited options are there in India to remit USD?

packpacka

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Well guys sweet arbitrage opportunity right now for Indians .

Absinthe

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Quote from: krishnaverma on November 30, 2017, 09:55:01 AM

If we stop buying from these, then where can we buy from. I just made an account on Unocoin after reading positive reviews about it.

cex.io
paybis
coingate

krishnaverma

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If we stop buying from these, then where can we buy from. I just made an account on Unocoin after reading positive reviews about it.

Absinthe

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Quote from: cuddaloreappu on June 29, 2017, 04:20:53 AM

Quote from: Absinthe on June 14, 2017, 02:16:25 PM

Centralised exchanges are the weakest link in a decentralised P2P currency world. They are on their way out, within a year or two at most. They only exist because it's the only way you can convert fiat to BTC and back to fiat again.

We saw this with MTGOX in 20013, Bitfinex in 2015, and now Poloniex is stuttering on withdrawals.

With decentralised exchanges like Waves, Counterparty, Bitshares, or even something like ShapeShift - centralised exchanges that have a single point of failure (hacks, DDoS) will be increasing irrelevant unless they become a blockchain / coin of their own like the fore mentioned CCs.

Especially for a country like ours whose demand for crypto is going to wash over like a tsunami in the next few years.

Absinthe

I am sure you are not a newbie, u know more stuff..
Who r u

Just someone who was lucky enough to learn about crypto in July 2013, but not brave enough to go all in until May 2017.

Hahaha.

cuddaloreappu

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Activity: 756

Merit: 502

Quote from: Absinthe on June 14, 2017, 02:16:25 PM

Centralised exchanges are the weakest link in a decentralised P2P currency world. They are on their way out, within a year or two at most. They only exist because it's the only way you can convert fiat to BTC and back to fiat again.

We saw this with MTGOX in 20013, Bitfinex in 2015, and now Poloniex is stuttering on withdrawals.

With decentralised exchanges like Waves, Counterparty, Bitshares, or even something like ShapeShift - centralised exchanges that have a single point of failure (hacks, DDoS) will be increasing irrelevant unless they become a blockchain / coin of their own like the fore mentioned CCs.

Especially for a country like ours whose demand for crypto is going to wash over like a tsunami in the next few years.

Absinthe

I am sure you are not a newbie, u know more stuff..
Who r u

Prodigan786

sr. member

Activity: 434

Merit: 250

You forget mentioned application down issue lots of time application down for maintenance some times its for few hour sometimes its for days . I was using coinbase i thought coinbase charging too much for fund transfer fromn btc wallet another wallet so i started using unocoin it was less may be half of the charge but when i wanted to buy bitcoin using local currency it was way beyond imagination charges . Then left as it is started doing Equity commodity trading.

ngin-x

full member

Activity: 308

Merit: 100

Quote from: Absinthe on June 14, 2017, 02:16:25 PM

Centralised exchanges are the weakest link in a decentralised P2P currency world. They are on their way out, within a year or two at most. They only exist because it's the only way you can convert fiat to BTC and back to fiat again.

We saw this with MTGOX in 20013, Bitfinex in 2015, and now Poloniex is stuttering on withdrawals.

With decentralised exchanges like Waves, Counterparty, Bitshares, or even something like ShapeShift - centralised exchanges that have a single point of failure (hacks, DDoS) will be increasing irrelevant unless they become a blockchain / coin of their own like the fore mentioned CCs.

Especially for a country like ours whose demand for crypto is going to wash over like a tsunami in the next few years.

Absinthe

With Bancor protocol, we won't even need ShapeShift very soon. Waves Dex need to take off big time too. If that happens, centralized exchanges will be a thing of the past.

yingyang8884

newbie

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I am just looking at registering at one of the indian bitcoin exchanges. I am trying to use it as a way to remit my USD to INR. Lets see how it works out.

Absinthe

newbie

Activity: 28

Merit: 0

Centralised exchanges are the weakest link in a decentralised P2P currency world. They are on their way out, within a year or two at most. They only exist because it's the only way you can convert fiat to BTC and back to fiat again.

We saw this with MTGOX in 20013, Bitfinex in 2015, and now Poloniex is stuttering on withdrawals.

With decentralised exchanges like Waves, Counterparty, Bitshares, or even something like ShapeShift - centralised exchanges that have a single point of failure (hacks, DDoS) will be increasing irrelevant unless they become a blockchain / coin of their own like the fore mentioned CCs.

Especially for a country like ours whose demand for crypto is going to wash over like a tsunami in the next few years.

Absinthe

iram3130

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ITSMYNE 🚀 Talk NFTs, Trade NFTs 🚀

Quote from: sumit513 on June 09, 2017, 11:27:09 PM

Coinsecure is taking too much time to process INR deposits, on the other hand, Unocoin is surprisingly fast.

As far as I have experienced coinsecure is allot better service provider than Unocoin, right now coinsecure is having problems which they display on their application regarding delay. Hope it'll be fine soon.

sumit513

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Coinsecure is taking too much time to process INR deposits, on the other hand, Unocoin is surprisingly fast.

Benson Samuel

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Landscaping Bitcoin for India!

Quote from: cryptoheadd on June 09, 2017, 05:06:29 AM

Quote from: Benson Samuel on June 05, 2017, 09:48:23 PM

Can be done with Bitpay, through the coinsecure partnership.
Their application stack is heavy though, and quite restrictive from what I have seen so far.

We can implement a gateway on our books, but cannot give a window for the payment guarantee, so this will bleed funds from us.
Gateways are risky with Bitcoin mainly because of the time window and the guaranteed nature of payments, where orders can't be cancelled if the service provider runs into a loss.

I think he meant using a gateway to buy Bitcoins with debit/credit cards.

aaaah.. gotcha..

Thats gonna be a pain for some time to come..

cryptoheadd

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Quote from: Benson Samuel on June 05, 2017, 09:48:23 PM

Can be done with Bitpay, through the coinsecure partnership.
Their application stack is heavy though, and quite restrictive from what I have seen so far.

We can implement a gateway on our books, but cannot give a window for the payment guarantee, so this will bleed funds from us.
Gateways are risky with Bitcoin mainly because of the time window and the guaranteed nature of payments, where orders can't be cancelled if the service provider runs into a loss.

I think he meant using a gateway to buy Bitcoins with debit/credit cards.

nativehasher

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Quote from: BTCIndia on June 06, 2017, 11:53:21 PM

Fair exchange is need of time.

It will be very difficult to have a fair exchange in India, that allows deposits/withdrawals in INR, simply because of conservative government policies.

What we can have is a parallel economy in bitcoin just like people use black money right now (hand-to-hand, in-person transfers).

However, if your concern is locking into a fiat value of bitcoin at some point (let's say you think BTC is about to crash), just short btc in one of the futures/swaps market (Bitmex is good). I believe someone can make a similar derivative for BTC-INR without actually dealing in INR or indian banks.

BTCIndia

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vini, vedi, no vici.

Fair exchange is need of time.

SimonJones

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Deposited money in Coinsecure on Saturday (3 June). It's Wednesday now (7 June) and still waiting. WTH!

You're just inviting the govt. to come and interfere in BTC. Better not run an exchange like this if you love BTC.

Blackshadow007

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Activity: 787

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Currency Xchanger™

Quote from: ?? on ??

Quote from: Blackshadow007 on June 05, 2017, 10:57:48 PM

Quote from: nativehasher on May 26, 2017, 02:58:26 PM

coinsecure looks quite sketchy to me..at least their staff is quite unprofessional

From what point of view you saying the best BTC Exchange in India sketchy lol . CS has the most lowest price among other exchanges situated in India and fastest withdraw service . Although due to recent load of users made their deposit and withdraw a bit slow but that don't stay forever with CS''s service . We got CS Co-founder Benson Samuel here who is very much dedicated in all support matters also a staff of this forum . CS has low amount of team as per their customer service requirement thus the delay of CS support reply but they are always working to get along with new team and looking for new staffs , they got overload of new users registrations and verification as CS has the most lowest rate and fees among all other legit btc exchange exist in India . Don't claim something which is not valid .

Well from where I'm standing I can definitely say that they are not the best in India. In fact none but, zebpay works better I don't purchase from them either. Coinsecure is having a lot of trouble with their site. It takes forever to load and when it does login/signup process is not seamless.
And about price, no exchange provides the lowest rates all of them varies. So, you gotta keep an eye on each one of them. I prefer localbitcoins.

Yes all of them varies but not the exchange fees .

Blackshadow007

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Currency Xchanger™

Quote from: nativehasher on May 26, 2017, 02:58:26 PM

coinsecure looks quite sketchy to me..at least their staff is quite unprofessional

From what point of view you saying the best BTC Exchange in India sketchy lol . CS has the most lowest price among other exchanges situated in India and fastest withdraw service . Although due to recent load of users made their deposit and withdraw a bit slow but that don't stay forever with CS''s service . We got CS Co-founder Benson Samuel here who is very much dedicated in all support matters also a staff of this forum . CS has low amount of team as per their customer service requirement thus the delay of CS support reply but they are always working to get along with new team and looking for new staffs , they got overload of new users registrations and verification as CS has the most lowest rate and fees among all other legit btc exchange exist in India . Don't claim something which is not valid .

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: cryptoheadd on June 05, 2017, 11:53:15 AM

Quote from: ?? on ??

What's the problem in creating a payment gateway for buying bits just like Ecom sites.

Payment gateways don't provide service to Bitcoin related businesses yet due to the legality of Bitcoin at the moment.
So, no Bitcoin business can implement a gateway on their site.

I did see someone use a gateway on their site, but they are not selling anymore. Not sure how they were able to do it.

Here's a link of their site: https://www.tbit.in/

Can be done with Bitpay, through the coinsecure partnership.
Their application stack is heavy though, and quite restrictive from what I have seen so far.

We can implement a gateway on our books, but cannot give a window for the payment guarantee, so this will bleed funds from us.
Gateways are risky with Bitcoin mainly because of the time window and the guaranteed nature of payments, where orders can't be cancelled if the service provider runs into a loss.

Topic: Indians should stop buying from Unocoin, Zebpay, Coinsecure, and EthexIndia (Read 4872 times)