- Nov 16, 2011
- 19,809
- 11,285
Update: They are yet to start reimbursing the users but they have said that they will pay 90% of holdings in INR at the rate of 9th April 2018.
Indian Crypto exchange- Coinsecure bitcoin funds exposed
- Thread starter awesomewebsites
- Start date
- Nov 16, 2011
- 19,809
- 11,285
Update: They do not have any information on how to claim on website but have added a new link for claim. https://claims.coinsecure.in/doLogin
Go and check if you can get your funds back now.
Go and check if you can get your funds back now.
- Nov 16, 2011
- 19,809
- 11,285
Update: they have officially declared that they are accepting claims. You can claim before June 30, 2018.
- Jun 20, 2013
- 11,507
- 8,912
But people say btc will change the world and most secure thing ever created.
- Jun 20, 2013
- 11,507
- 8,912
But people say btc will change the world and most secure thing ever created.
- Nov 16, 2011
- 19,809
- 11,285
There is no fault of btc or block chain in this. It is the fault of exchange. If a bank is robbed, will you blame the cash which got looted ?
- Jun 20, 2013
- 11,507
- 8,912
Wow you are so intelligent.
- Nov 16, 2011
- 19,809
- 11,285
Thanks. Thus is more of common sense.
seotrick007
BANNED
- May 21, 2018
- 222
- 47
Have you purchased BTC from them @krishnaverma ?
In India, BTC trading is not legal then how did they do that ? And they have reported to the Police as well.
Very strange!
Are you blockchain or any other BTC wallet? And faced any security issue?
In India, BTC trading is not legal then how did they do that ? And they have reported to the Police as well.
Very strange!
Are you blockchain or any other BTC wallet? And faced any security issue?
- Nov 16, 2011
- 19,809
- 11,285
BTC trading in India is not illegal as of now.
seotrick007
BANNED
- May 21, 2018
- 222
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As per News:
1. On February 1, 2017, the central bank again reminded the users of risk involved in bitcoin trading. "The Reserve Bank of India advises that it has not given any licence / authorisation to any entity / company to operate such schemes or deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader, etc. dealing with Virtual Currencies will be doing so at their own risk," said RBI in the released early this year.
2. On December 5, 2017, the RBI reiterated its warnings in wake of significant spurt in valuation of bictoins. "Attention of members of public is drawn cautioning users, holders and traders of Virtual Currencies (VCs) including Bitcoins regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs," said the RBI.
3. On the future of cryptocurrencies, finance minister Arun Jaitley on November 30 said that recommendations are being worked at. "The government's position is clear, we don't recognise this as legal currency as of now," Jaitley said when asked whether the government has taken any decision on crypto currency.
4. Income Tax (I-T) department mulls taxing the gains made by bitcoin traders and investors as it conducted surveys, on December 13, of exchanges in Delhi, Mumbai, Pune, Bengaluru and Hyderabad.
- Nov 16, 2011
- 19,809
- 11,285
Government does not treat it as legal currency means you cannot use it as a currency in India. Trading is not illegal. Regarding tax, you have pay tax on profits just like any other income.
seotrick007
BANNED
- May 21, 2018
- 222
- 47
- Am asking these things to you becoz am doing R&D over this nowadays; and I want to come to this market.
Are you a Crypto Investor? Purchasing BTC from some Online Agent or platform?
And have you ever faced any Hacking issue ?
deadsoul1
Regular Member
- Jul 15, 2008
- 282
- 107
Exactly, BTC or any other crypto is not a legal tender and can not be used, however, you can trade it and pay the taxes on earned money. It is govt. idea of letting people know about risks involved in trading crypto. Same circulars were around for forex trading as well.
- Nov 16, 2011
- 19,809
- 11,285
1) R&D with just one user ?
2) Little bit. From exchanges in my country.
3) No.
Never heard about forex trading related warnings. Government companies have their own shares.
seotrick007
BANNED
- May 21, 2018
- 222
- 47
-> One User means? Are you using LBC?
- Nov 16, 2011
- 19,809
- 11,285
Not yet. Made an account recently and may give it a try. Did you started to invest in crypto ?
b1step-ahead
Elite Member
- Nov 15, 2010
- 1,731
- 1,035
"Cancel Christmas"
seotrick007
BANNED
- May 21, 2018
- 222
- 47
- doing a lot of R&D over this and starting it gradually. As per the rules 3.3 : Currency trading is not allowed here on bhw.
In India, there are only few exchange options. P2P options are working here, properly. Trade houses are either not support direct bank transfer or has some huge rate.
Do you have any option over Exchange House (not P2P), which will offer the best rate without lots of ID verifications?
deadsoul1
Regular Member
- Jul 15, 2008
- 282
- 107
Really? There are plenty. It started in 2011 and there are multiple guidelines after that. Query in 'rbi circular on forex trading' you will see exact notices passed on to banks and financial institutes (for tracking individuals). And yes, banks and financial institutes themselves trade in forex but for theer are loads of guidelines for individuals.
Snippet :
3. With a view to further strengthening the restrictions on such online activities which are in violation of FEMA, 1999, AD Category I banks are hereby directed as follows:
(i) All AD Category I banks who offer credit cards or online banking facilities to their customers should advise their customers that any person resident in India collecting and effecting / remitting payments directly /indirectly outside India in any form towards overseas foreign exchange trading through electronic/internet trading portals would make himself/ herself / themselves liable to be proceeded against with for contravention of the Foreign Exchange Management Act (FEMA), 1999 besides being liable for violation of regulations relating to Know Your Customer (KYC) norms / Anti Money Laundering (AML) standards.