India's Best Bitcoin Exchange goes Live with Deposits & Withdrawals! - page 12.

legendster

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Activity: 1778

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www.V.systems

Quote from: shahadil on February 11, 2015, 04:29:33 AM

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

buysellbitcoin

legendary

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https://www.zebpay.com

Quote from: Benson Samuel on February 10, 2015, 02:32:13 PM

Quote from: shahadil on February 10, 2015, 09:19:04 AM

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

shahadil

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.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: shahadil on February 10, 2015, 09:19:04 AM

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.

shahadil

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.

stellar1

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?

Rude Boy

hero member

Activity: 770

Merit: 500

Quote from: coinsecure on February 10, 2015, 07:30:49 AM

Quote from: Rude Boy on February 09, 2015, 09:44:13 PM

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.

coinsecure

newbie

Activity: 3

Merit: 0

Quote from: Rude Boy on February 09, 2015, 09:44:13 PM

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?

Rude Boy

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?

Benson Samuel

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.

sambiohazard

hero member

Activity: 840

Merit: 1000

Quote from: Benson Samuel on February 06, 2015, 04:52:54 AM

Quote from: sambiohazard on February 04, 2015, 10:15:42 AM

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.

Regards
Sam

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

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: sambiohazard on February 04, 2015, 10:15:42 AM

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.

Regards
Sam

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.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: deadley on February 04, 2015, 03:16:23 PM

Quote from: Benson Samuel on February 04, 2015, 02:49:02 PM

Quote from: deadley on February 04, 2015, 02:06:22 PM

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.

deadley

legendary

Activity: 2562

Merit: 1064

Quote from: Benson Samuel on February 04, 2015, 02:49:02 PM

Quote from: deadley on February 04, 2015, 02:06:22 PM

How much Fees in Coinsecure for buying/Selling.

1% as default.

Why Indian exchange charge high fee like 1%.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: deadley on February 04, 2015, 02:06:22 PM

How much Fees in Coinsecure for buying/Selling.

1% as default.

deadley

legendary

Activity: 2562

Merit: 1064

How much Fees in Coinsecure for buying/Selling.

sambiohazard

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.

Regards
Sam

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: sgk on January 26, 2015, 06:50:00 AM

- 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!

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: deadley on January 26, 2015, 11:28:27 AM

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.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Thanks for the suggestions

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.

Topic: India's Best Bitcoin Exchange goes Live with Deposits & Withdrawals! - page 12. (Read 39061 times)