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Topic: India's Best Bitcoin Exchange goes Live with Deposits & Withdrawals! - page 12. (Read 39011 times)

hero member
Activity: 1778
Merit: 764
www.V.systems
Bitstamp charges fees in dollars only, as far as i can tell. You can look up bitstamp, you can look up Btcxindia. They all seem less complicated than coinsecure.

Yes les complicated because of the lack of documentation and verification processes there, but with sites like Coinsecure and (other similar exchanges) it is far easier for people do daily deals. That is once its setup. Off course I understand your frustration as you are a reputed LBC seller its hard for you to see other exchanges spring up and eat away at your trades Wink  Roll Eyes
legendary
Activity: 1105
Merit: 1001
https://www.zebpay.com
fees are up for me it seems, a month of free trading is done. just one thing, i noticed, if i want to buy 1 BTC, it says approx to get .99. well i would prefer if you rather charge me for 1.01 BTc and add it to the inr cost. or you can collect fees in only INR both ways. why are you collecting fees in BTC. just a thought.  



We did want to go down this path, but it seems to be a complicated route to take to funnel all fees into INR itself.
Example: You have a bid for 1 BTC, how do we know how much fees to deduct before the trade executes? In the event that it is a partial trade, we would need to do fee reversals, after the transaction is completed.

Not sure if any other algorithmic trading exchange does this, but if they do, do let me know and I can study/ implement what they have done.

Fees are always going to be in the percentage of trade amount. So first you check if trade is possible, now check if user has enough balance with trade amount + fees. If he has that balance, you can go ahead and execute trade. If balance is not enough you can create a trade with existing balance - your fees and execute it.

To be on safer side, you can ask user's to select in preference that they want to pay fees in INR/FIAT.


Regards
full member
Activity: 202
Merit: 100
Bitstamp charges fees in dollars only, as far as i can tell. You can look up bitstamp, you can look up Btcxindia. They all seem less complicated than coinsecure.
legendary
Activity: 1890
Merit: 1000
Landscaping Bitcoin for India!
fees are up for me it seems, a month of free trading is done. just one thing, i noticed, if i want to buy 1 BTC, it says approx to get .99. well i would prefer if you rather charge me for 1.01 BTc and add it to the inr cost. or you can collect fees in only INR both ways. why are you collecting fees in BTC. just a thought. 

We did want to go down this path, but it seems to be a complicated route to take to funnel all fees into INR itself.
Example: You have a bid for 1 BTC, how do we know how much fees to deduct before the trade executes? In the event that it is a partial trade, we would need to do fee reversals, after the transaction is completed.

Not sure if any other algorithmic trading exchange does this, but if they do, do let me know and I can study/ implement what they have done.
full member
Activity: 202
Merit: 100
fees are up for me it seems, a month of free trading is done. just one thing, i noticed, if i want to buy 1 BTC, it says approx to get .99. well i would prefer if you rather charge me for 1.01 BTc and add it to the inr cost. or you can collect fees in only INR both ways. why are you collecting fees in BTC. just a thought. 
member
Activity: 70
Merit: 10
I heard legality of bitcoin in India is in the grey zone? Something like fema or some act they have...google if you wish Is it a compliant?
hero member
Activity: 770
Merit: 500
i've linked my bank account. But i don't have PAN number. So i can't deposit bitcoins uh?
For PAN, i need voter ID. But i've already applied for voter ID and now waiting for voter ID only. Not applied for PAN yet.
So what to do?

ID/Address proof is mandatory (Please check KYC page of coinsecure,We have given multiple options) and as for PAN number if you don't have one you can take a print out of form 60, fill it, sign it and send us the scanned copy on [email protected].

Ps: I would like to know, what documents you have provided in Bank while opening your bank account?
They asked me only the ration card for address proof.
newbie
Activity: 3
Merit: 0
i've linked my bank account. But i don't have PAN number. So i can't deposit bitcoins uh?
For PAN, i need voter ID. But i've already applied for voter ID and now waiting for voter ID only. Not applied for PAN yet.
So what to do?

ID/Address proof is mandatory (Please check KYC page of coinsecure,We have given multiple options) and as for PAN number if you don't have one you can take a print out of form 60, fill it, sign it and send us the scanned copy on [email protected].

Ps: I would like to know, what documents you have provided in Bank while opening your bank account?
hero member
Activity: 770
Merit: 500
i've linked my bank account. But i don't have PAN number. So i can't deposit bitcoins uh?
For PAN, i need voter ID. But i've already applied for voter ID and now waiting for voter ID only. Not applied for PAN yet.
So what to do?
legendary
Activity: 1890
Merit: 1000
Landscaping Bitcoin for India!
New Charts up!
Order book now shows which orders have a partial or complete bid of a user.
some more fixes all around.
hero member
Activity: 840
Merit: 1000
Nice to see you working on bugs so quickly and more importantly proactively communicating all the progress here. I would suggest that you put a list of bugs solved in the first post. It will make things easy to track and will show how we are progressing with time. I think i made the right choice by using CoinSecure.

and now the complaining Tongue
Please increase the decimal places to at least 6 digits. One of my orders went off by 13 INR due to rounding off to 3 decimal place. It is just annoying and these dust amounts just build up.

Remain awesome. Smiley

Regards
Sam Smiley

Loads of testing needed tbh, to move from 3 to 6-8 decimals. Should be a while before we can look at that. Can get tricky with rounding off, etc.. Sad

Added a Depth Chart for the order Book and INR Sums on the Trade Page.
Small Fixes to the Bank and the Frequency Graph.

We can wait. Just keep improving. Thanks for the INR Field Smiley
legendary
Activity: 1890
Merit: 1000
Landscaping Bitcoin for India!
Nice to see you working on bugs so quickly and more importantly proactively communicating all the progress here. I would suggest that you put a list of bugs solved in the first post. It will make things easy to track and will show how we are progressing with time. I think i made the right choice by using CoinSecure.

and now the complaining Tongue
Please increase the decimal places to at least 6 digits. One of my orders went off by 13 INR due to rounding off to 3 decimal place. It is just annoying and these dust amounts just build up.

Remain awesome. Smiley

Regards
Sam Smiley

Loads of testing needed tbh, to move from 3 to 6-8 decimals. Should be a while before we can look at that. Can get tricky with rounding off, etc.. Sad

Added a Depth Chart for the order Book and INR Sums on the Trade Page.
Small Fixes to the Bank and the Frequency Graph.
legendary
Activity: 1890
Merit: 1000
Landscaping Bitcoin for India!
How much Fees in Coinsecure for buying/Selling.

1% as default.

Why Indian exchange charge high fee like 1%.

The default fee is 1% with us. Can be lowered based on number of trades, exchange volume, etc.
Look forward to seeing more of this being automated over the coming month as we will add a fee selector, etc. This will allow a user to set a lower fee by lowering their order priority or paying a fixed fee.
legendary
Activity: 2562
Merit: 1064
How much Fees in Coinsecure for buying/Selling.

1% as default.

Why Indian exchange charge high fee like 1%.
legendary
Activity: 1890
Merit: 1000
Landscaping Bitcoin for India!
How much Fees in Coinsecure for buying/Selling.

1% as default.
legendary
Activity: 2562
Merit: 1064
How much Fees in Coinsecure for buying/Selling.
hero member
Activity: 840
Merit: 1000
Nice to see you working on bugs so quickly and more importantly proactively communicating all the progress here. I would suggest that you put a list of bugs solved in the first post. It will make things easy to track and will show how we are progressing with time. I think i made the right choice by using CoinSecure.

and now the complaining Tongue
Please increase the decimal places to at least 6 digits. One of my orders went off by 13 INR due to rounding off to 3 decimal place. It is just annoying and these dust amounts just build up.

Remain awesome. Smiley

Regards
Sam Smiley
legendary
Activity: 1890
Merit: 1000
Landscaping Bitcoin for India!
- On orders page, I can see all recent trades. It would be nice to have isolated history of my trades so that I can keep track of my buy/sell trades and calculate profits acordingly.


Some additions:

Added My completed orders at the bottom of the Trade Engine Page.
Deposits are now automatic. They will verify after 3 confirms.
KYC fixes in place thanks to deadley!
legendary
Activity: 1890
Merit: 1000
Landscaping Bitcoin for India!


P.S. I again tried to upload document My file was 1.96 MB and it was showing request Entity too large.

Fixed and confirmed via PM.
legendary
Activity: 1890
Merit: 1000
Landscaping Bitcoin for India!
Thanks for the suggestions Smiley

1 - Will add the INR field. I did have it around some earlier versions, but it dropped off along the way. Will have it back up soon.
2 - Will consider the decimals. This is a current restriction only on trades. Withdrawals and Deposits will continue to have 8 decimals.
3 - Can't say more, was an error during the manual processing, quickly rectified though. Should not happen once we automate Withdrawals. We do not enforce any fees as the moment, but this will be added on automated withdrawals. If the withdrawal is to an offchain or account wallet, no fees will be incurred on those as well.
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