Zebpay's New app started Death of bitcoin in india

djbabu

jr. member

Activity: 92

Merit: 1

Quote from: freundes on February 02, 2018, 12:46:53 AM

I really used to like Zebpay but as customers/ traders grows... deposit takes time.
Its great that they introduced Bitcoin Cash and Litecoin.
With lots of other exchanges in the market they must speed up the deposit time, else they would lose lots of valuable customers/ traders.
I really like the peer to peer trading as it should be from the start, but better late than never.

Correct my friend so they changes there mode of business only after IT RAIDs happen and just before budget , now they sold bitcoin @ 12+ lacs and we can now sell it to our peers in 5.8+ LAc.

I like very much this zebpay which is very trusted ex changer who in midnight changes it mode of operation .

freundes

member

Activity: 99

Merit: 10

I really used to like Zebpay but as customers/ traders grows... deposit takes time.
Its great that they introduced Bitcoin Cash and Litecoin.
With lots of other exchanges in the market they must speed up the deposit time, else they would lose lots of valuable customers/ traders.
I really like the peer to peer trading as it should be from the start, but better late than never.

djbabu

jr. member

Activity: 92

Merit: 1

Related to taxation , Now as i said people try to pay tax uselessly even IT don't know under which they can tax us

http://www.thehindubusinessline.com/money-and-banking/bitcoin-investors-may-have-to-pay-capital-gains-tax/article10004806.ece

dogandogru

sr. member

Activity: 481

Merit: 256

I think the latest version of Zebpay is quite good than the previous one. They have introduced some new coins, hence given more opportunity to Indian Investors and also introduction of real-time trading is also quite beneficial for traders.
on the other hand, I Think IT department has sent notice to BIG crypto-investors to know that from where they got so much of money(FIAT) to buy BTC. As there is no clarity on taxes from crypto nor govt has taken any stand on BTC legal consideration so it is not wise to presume anything on basis of these vague news as nothing is clearly stated about it by Indian Govt.

djbabu

jr. member

Activity: 92

Merit: 1

Quote from: lordquanta on January 29, 2018, 11:58:10 AM

Quote

There is no rule for tax in bitcoin

I m in loss now , so i do not have any issue with the tax,

Only 1 question why they done this change so shady , why they dont announce users about that

Tell me answer of this else zebpay is still not a trusted company

@boss1dg : why dont you tell the truth with your trusted source then ?

You are suppose to pay taxes on bitcoin. There is a tax from GoV Ind on earnings from the bitcoin. Keeping/HODLing bitcoin is also covered under current tax as well. There is a detailed thread[1] on taxation on bitcoin in India. You are suppose to pay the taxes on your earnings from the bitcoin or for that matter any other cryptocurrency. Anyone who has filed ITR this year would have noticed that there is a section in 'wealth' section which specifically request information about possession of bitcoin or any other crypto-currency.

[1] https://bitcointalk.org/index.php?topic=213792.200

My Lord

There is no rule on that page you pointed me out

There is only security measure to avoid any tax liability, Court is not yet decided any thing .

In ITR there is no field like bitcoin , I don't see bitcoin as wealth , I saw it as equity and no tax for equity after 1 Yr or 15% if less then 1 yr.

I am paying Income tax for which i earn and i invest in equity and bitcoin both have same volatility , I consider both as equity .

Now tell me a single gov gazette which say bitcoin should be paid under income tax .

lordquanta

sr. member

Activity: 770

Merit: 268

Quote

There is no rule for tax in bitcoin

I m in loss now , so i do not have any issue with the tax,

Only 1 question why they done this change so shady , why they dont announce users about that

Tell me answer of this else zebpay is still not a trusted company

@boss1dg : why dont you tell the truth with your trusted source then ?

You are suppose to pay taxes on bitcoin. There is a tax from GoV Ind on earnings from the bitcoin. Keeping/HODLing bitcoin is also covered under current tax as well. There is a detailed thread[1] on taxation on bitcoin in India. You are suppose to pay the taxes on your earnings from the bitcoin or for that matter any other cryptocurrency. Anyone who has filed ITR this year would have noticed that there is a section in 'wealth' section which specifically request information about possession of bitcoin or any other crypto-currency.

[1] https://bitcointalk.org/index.php?topic=213792.200

djbabu

jr. member

Activity: 92

Merit: 1

New news about gov action

http://www.moneycontrol.com/news/business/cryptocurrency/noose-on-cryptocurrency-exchanges-tightens-as-roc-stops-registration-2488799.html

djbabu

jr. member

Activity: 92

Merit: 1

Quote from: Blackshadow007 on January 22, 2018, 06:36:15 AM

Quote from: djbabu on January 20, 2018, 08:18:18 AM

Quote from: Forbiddenone on January 20, 2018, 06:37:11 AM

Quote from: glowing10 on January 20, 2018, 02:03:37 AM

I am surprised that such thing have happened with Zebpay. Also did users who are registered member did got any prior notification from them that they would be shifting to buy/sell from the users only now. Things are not moving rightly in India it seems now. Even few banks are now becoming stricter and this will means more screws will be tight and ban could happen in India soon.

Thats what exchanges do,buy and sell between buy/sell wall.it is good that this has significant decreased the demerit of zebpay buy/sell difference earlier problem.they are doing great to provide multi currency support but i do not understand why the hell they added bcc just bcz people demand their bcc after hardfork?they should have added ethereum.

Zebpay busted , GOV is on move to close them

http://www.punjabkesari.in/business/news/big-steps-raised-by-banks-against-bitcoin--it-department-sent-tax-notice-741579

Welcome to world of bitcoin india ,

Cheater updated the app to skip from indian gov

ZebPay not Busted so the Coinsecure , Do not make false rumor about anything , IT did their regular scrutiny to the big exchanges and sent notice to big traders who didn't paid or showed their income properly . Its quite simple you earning you gotta pay the tax , Due to current Crypto situation you have to keep record of every trade and declare as Short / Long term capital gain and pay tax . I hope Zebpay moving towards multiple Crypto platform which is really needed in current market demands .

There is no rule for tax in bitcoin

I m in loss now , so i do not have any issue with the tax,

Only 1 question why they done this change so shady , why they dont announce users about that

Tell me answer of this else zebpay is still not a trusted company

@boss1dg : why dont you tell the truth with your trusted source then ?

boss1dg

member

Activity: 350

Merit: 10

Quote from: Blackshadow007 on January 22, 2018, 06:36:15 AM

Quote from: djbabu on January 20, 2018, 08:18:18 AM

Quote from: Forbiddenone on January 20, 2018, 06:37:11 AM

Quote from: glowing10 on January 20, 2018, 02:03:37 AM

I am surprised that such thing have happened with Zebpay. Also did users who are registered member did got any prior notification from them that they would be shifting to buy/sell from the users only now. Things are not moving rightly in India it seems now. Even few banks are now becoming stricter and this will means more screws will be tight and ban could happen in India soon.

Thats what exchanges do,buy and sell between buy/sell wall.it is good that this has significant decreased the demerit of zebpay buy/sell difference earlier problem.they are doing great to provide multi currency support but i do not understand why the hell they added bcc just bcz people demand their bcc after hardfork?they should have added ethereum.

Zebpay busted , GOV is on move to close them

http://www.punjabkesari.in/business/news/big-steps-raised-by-banks-against-bitcoin--it-department-sent-tax-notice-741579

Welcome to world of bitcoin india ,

Cheater updated the app to skip from indian gov

ZebPay not Busted so the Coinsecure , Do not make false rumor about anything , IT did their regular scrutiny to the big exchanges and sent notice to big traders who didn't paid or showed their income properly . Its quite simple you earning you gotta pay the tax , Due to current Crypto situation you have to keep record of every trade and declare as Short / Long term capital gain and pay tax . I hope Zebpay moving towards multiple Crypto platform which is really needed in current market demands .

these newpapers dont have proper info , neither they try to dig exact info .
so they always publish rumor and run away ..
it departments and banks are taking action only on suspicious transactions and activities .
no one can freeze your accounts without any evidence .

Blackshadow007

sr. member

Activity: 787

Merit: 276

Currency Xchanger™

Quote from: djbabu on January 20, 2018, 08:18:18 AM

Quote from: Forbiddenone on January 20, 2018, 06:37:11 AM

Quote from: glowing10 on January 20, 2018, 02:03:37 AM

I am surprised that such thing have happened with Zebpay. Also did users who are registered member did got any prior notification from them that they would be shifting to buy/sell from the users only now. Things are not moving rightly in India it seems now. Even few banks are now becoming stricter and this will means more screws will be tight and ban could happen in India soon.

Thats what exchanges do,buy and sell between buy/sell wall.it is good that this has significant decreased the demerit of zebpay buy/sell difference earlier problem.they are doing great to provide multi currency support but i do not understand why the hell they added bcc just bcz people demand their bcc after hardfork?they should have added ethereum.

Zebpay busted , GOV is on move to close them

http://www.punjabkesari.in/business/news/big-steps-raised-by-banks-against-bitcoin--it-department-sent-tax-notice-741579

Welcome to world of bitcoin india ,

Cheater updated the app to skip from indian gov

ZebPay not Busted so the Coinsecure , Do not make false rumor about anything , IT did their regular scrutiny to the big exchanges and sent notice to big traders who didn't paid or showed their income properly . Its quite simple you earning you gotta pay the tax , Due to current Crypto situation you have to keep record of every trade and declare as Short / Long term capital gain and pay tax . I hope Zebpay moving towards multiple Crypto platform which is really needed in current market demands .

djbabu

jr. member

Activity: 92

Merit: 1

Quote from: newinbtc on January 21, 2018, 12:28:43 PM

Quote from: djbabu on January 20, 2018, 03:56:53 AM

Hi,

As this is a major change and they dont even told user about this , how shame full

Its proven that the only good use of bitcoin in india is to make people fool

There is no use of bitcoin in india , what can i purchase in india with the bitcoin i have in my zebpay wallet ?

@sardasa : How do you know they are filling then ?

app show 20 30 order for buy and sell so where are all the users for which zebpay always says that due to which they always ask for extra $$$?

Modi gov not told exchanges that we are going to suspend your current account. They have to take strict action to run their business. Its indian exchange now , we must support Zebpay. in future more altcoins will be added as i see its future.

Who said bitcoin has no use in india.
buy the imported products for other countries and pay in bitcoins simple.
Shop at amazon india and pay in bitcoins
Some sites offer this type of service in these days , i have seen and shopped also

support a zebpay who never inform you about this change will only get Talaq Talaq Talaq from its user .

if you see the price now you can understand that before this how they are looted us selling at 12 lak 14 laks even if price of international market is down saying that due to high demand

now see no one is in high demand and due to that prices are low ?

zebpay is wrong where ever he stand left or right

boss1dg

member

Activity: 350

Merit: 10

Quote from: newinbtc on January 21, 2018, 12:28:43 PM

Quote from: djbabu on January 20, 2018, 03:56:53 AM

Hi,

As this is a major change and they dont even told user about this , how shame full

Its proven that the only good use of bitcoin in india is to make people fool

There is no use of bitcoin in india , what can i purchase in india with the bitcoin i have in my zebpay wallet ?

@sardasa : How do you know they are filling then ?

app show 20 30 order for buy and sell so where are all the users for which zebpay always says that due to which they always ask for extra $$$?

Modi gov not told exchanges that we are going to suspend your current account. They have to take strict action to run their business. Its indian exchange now , we must support Zebpay. in future more altcoins will be added as i see its future.

Who said bitcoin has no use in india.
buy the imported products for other countries and pay in bitcoins simple.
Shop at amazon india and pay in bitcoins
Some sites offer this type of service in these days , i have seen and shopped also

can you please tell me on which sites we can pay in bitcoins or other coin ?? which ship to india ..
if possible please pm me .

newinbtc

legendary

Activity: 1190

Merit: 1001

Quote from: djbabu on January 20, 2018, 03:56:53 AM

Hi,

As this is a major change and they dont even told user about this , how shame full

Its proven that the only good use of bitcoin in india is to make people fool

There is no use of bitcoin in india , what can i purchase in india with the bitcoin i have in my zebpay wallet ?

@sardasa : How do you know they are filling then ?

app show 20 30 order for buy and sell so where are all the users for which zebpay always says that due to which they always ask for extra $$$?

Modi gov not told exchanges that we are going to suspend your current account. They have to take strict action to run their business. Its indian exchange now , we must support Zebpay. in future more altcoins will be added as i see its future.

Who said bitcoin has no use in india.
buy the imported products for other countries and pay in bitcoins simple.
Shop at amazon india and pay in bitcoins
Some sites offer this type of service in these days , i have seen and shopped also

amishmanish

legendary

Activity: 1904

Merit: 1159

Quote from: djbabu on January 19, 2018, 02:05:01 AM

Hi Friend

Yesterday I updated the Zebpay multi wallet

Now Zebpay is stooped directy purchase and sale to zeb pay

Now we can trade to other users only , They make very complicated to buy and sell bitcoin now, we have to give amount in bitcoin not in cash like if i want to sell rs 1000 worth of btc i cant i have to give and calculate 0.00245 btc and purchase or sale.

Look like indian GOV started to tighten the exchanges in india or with recent decline zebpay has no money to purchase btc so its open to users and now became a true trading exchange.

I can see the buying and selling value like buy 850000 and sell 850001 .

Zeb pay never done this , also with old app i m not able to bid and purchase 2 days back.

Reviews from zebpay users are welcome , other who never used zebpay pls dont post that bitcoin will never die etc any other healthy debate is most welcome.

Thanks

The updated app is pretty good but we have lost the coinbase functionality I guess. It was the only place you could simply buy bitcoins online while all the other apps only let you trade.
I don't understand the OP's fear that how does this mean the "death" of bitcoin. People will simply trade amongst each other and if demand grows, we may even see some of the disparity on prices like in Korea.
The price differences between the international prices in USD and Indian prices is still maintained. That means we haven't settled to a lower value or anything. Thats a good sign as it means that there are enough of us trading on Zebpay who believe in the value of bitcoin to keep this going..

Although, If these changes removes the people who are just buying/ selling to make quick bucks, then I'd say, Good Riddance!

Forbiddenone

sr. member

Activity: 585

Merit: 251

Quote from: djbabu on January 20, 2018, 08:18:18 AM

Quote from: Forbiddenone on January 20, 2018, 06:37:11 AM

Quote from: glowing10 on January 20, 2018, 02:03:37 AM

I am surprised that such thing have happened with Zebpay. Also did users who are registered member did got any prior notification from them that they would be shifting to buy/sell from the users only now. Things are not moving rightly in India it seems now. Even few banks are now becoming stricter and this will means more screws will be tight and ban could happen in India soon.

Thats what exchanges do,buy and sell between buy/sell wall.it is good that this has significant decreased the demerit of zebpay buy/sell difference earlier problem.they are doing great to provide multi currency support but i do not understand why the hell they added bcc just bcz people demand their bcc after hardfork?they should have added ethereum.

Zebpay busted , GOV is on move to close them

http://www.punjabkesari.in/business/news/big-steps-raised-by-banks-against-bitcoin--it-department-sent-tax-notice-741579

Welcome to world of bitcoin india ,

Cheater updated the app to skip from indian gov

Where busted?-_- and punjab kesari Cheesy

, sometimes read what is said ,we already know ed have raided in many illegal bitcoin exchange in india but zebpay and coinsecure are not affected ,they have already done kyc and govt has only told to pay tax on btc and no ban announcement is there.

djbabu

jr. member

Activity: 92

Merit: 1

Quote from: Forbiddenone on January 20, 2018, 06:37:11 AM

Quote from: glowing10 on January 20, 2018, 02:03:37 AM

I am surprised that such thing have happened with Zebpay. Also did users who are registered member did got any prior notification from them that they would be shifting to buy/sell from the users only now. Things are not moving rightly in India it seems now. Even few banks are now becoming stricter and this will means more screws will be tight and ban could happen in India soon.

Thats what exchanges do,buy and sell between buy/sell wall.it is good that this has significant decreased the demerit of zebpay buy/sell difference earlier problem.they are doing great to provide multi currency support but i do not understand why the hell they added bcc just bcz people demand their bcc after hardfork?they should have added ethereum.

Zebpay busted , GOV is on move to close them

http://www.punjabkesari.in/business/news/big-steps-raised-by-banks-against-bitcoin--it-department-sent-tax-notice-741579

Welcome to world of bitcoin india ,

Cheater updated the app to skip from indian gov

Forbiddenone

sr. member

Activity: 585

Merit: 251

Quote from: glowing10 on January 20, 2018, 02:03:37 AM

I am surprised that such thing have happened with Zebpay. Also did users who are registered member did got any prior notification from them that they would be shifting to buy/sell from the users only now. Things are not moving rightly in India it seems now. Even few banks are now becoming stricter and this will means more screws will be tight and ban could happen in India soon.

Thats what exchanges do,buy and sell between buy/sell wall.it is good that this has significant decreased the demerit of zebpay buy/sell difference earlier problem.they are doing great to provide multi currency support but i do not understand why the hell they added bcc just bcz people demand their bcc after hardfork?they should have added ethereum.

djbabu

jr. member

Activity: 92

Merit: 1

Hi,

As this is a major change and they dont even told user about this , how shame full

Its proven that the only good use of bitcoin in india is to make people fool

There is no use of bitcoin in india , what can i purchase in india with the bitcoin i have in my zebpay wallet ?

@sardasa : How do you know they are filling then ?

app show 20 30 order for buy and sell so where are all the users for which zebpay always says that due to which they always ask for extra $$$?

glowing10

full member

Activity: 812

Merit: 142

I am surprised that such thing have happened with Zebpay. Also did users who are registered member did got any prior notification from them that they would be shifting to buy/sell from the users only now. Things are not moving rightly in India it seems now. Even few banks are now becoming stricter and this will means more screws will be tight and ban could happen in India soon.

agnosticpilgrim

newbie

Activity: 25

Merit: 2

That's exactly what an exchange means. Matching of bids/asks. Earlier Zebpay was quoting it's own price to buy bitcoin. Now the seller quotes a price. They should have made the users aware of this change before just jumping on it. They started getting 1 star reviews on Android Grin

. Anyway, they are all mostly just useless, these Indian exchanges. None of them can correctly process the most basic requirement, INR deposit.

Zebpay asks for 1-5 days on wire. Netbanking doesn't have popular banks
Koinex has only netbanking. No popular banks again
Unocoin's rates are usually 1 lac above everyone else for buying & least rates for selling BTC. Greedy bastards.

Haven't tried the likes of Coinsecure / Coindelta / Coinome although Coinome looks good out of these three.

Zebpay will go down very fast. They are too lazy in processing payments. By the time my INR is credited, the world has moved a lot and that is just useless IMO.

Topic: Zebpay's New app started Death of bitcoin in india (Read 356 times)