this topic is shouting shady!
1. why is OP even announcing what he is doing? there is no reason for making competition unless you are advertising the btcindia[dot]org website.
2. the site is "receiving" bitcoin and giving "paypal" this shouts charge-back scam.
3. bitcoin price is currently 58,418 INR in India (Zebpay) which means that site is paying 2000 INR over price for no reason (or for reason of scamming)
4. even localbitcoins bitcoin price is 5700 INR buy and 5500 INR sell another red flag.
in short every other place in India is buying bitcoin for 2000-3000 lower the price of btcindia[dot]org so why would this site want to buy bitcoin over priced and insist on using PayPal?
I am not really in a mood for conspiracy theories.
1. Because i only use the btc-to-usd option, which limits me to trading 20 btc max. I already traded 20 so why should i keep it for myself?
2. Once again, read the comments before saying something. They can send a bank payment if you prefer, for the same fee.
3. It is clear for couple weeks alread that the exchange rates on the indian exchanges are not so normal.
4. On localbitcoins you can find price of $500 and price of $1000, there are too many factors there.
5. Do you have any pending trade with btcindia? I guees not, because I sent them an e-mail to ask and here is the reply:
"Hello Chris,
Thank you for contacting us. Currently there are 0 pending trades.
May I ask why? I can see that your trades are already processed and the payments are delivered to you.
Regards,
BTC Trade India"