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Title: Exchange price is different than international - Why!? Post by: ramkumar on November 18, 2016, 01:17:13 PM Hi, I seen that indian exchange (buy & sell) range is around $850+ but current bitcoin price is $750 only. So is it possible to buy bitcoin from international exchange and sell at indian exchange to get $100 / bitcoin. In this way easy to earn $1000 just flipping 10 bitcoins in few days. Anyone is already doing this? Title: Re: Exchange price is different than international - Why!? Post by: OmegaStarScream on November 18, 2016, 01:23:13 PM It's because of some cash crisis according to Bitcoin.com : https://news.bitcoin.com/india-paying-900-bitcoin-cash-crisis/
I personally didn't try this but If exchanges are local then I assume there will be some need for an ID verification at least. Title: Re: Exchange price is different than international - Why!? Post by: Sahyadri on November 18, 2016, 02:00:10 PM Hi, I seen that indian exchange (buy & sell) range is around $850+ but current bitcoin price is $750 only. So is it possible to buy bitcoin from international exchange and sell at indian exchange to get $100 / bitcoin. In this way easy to earn $1000 just flipping 10 bitcoins in few days. Anyone is already doing this? You need to complete KYC verification in Indian exchanges (Coinsecure, Zebpay, etc.) You would loose some amount as transaction charges Paying from your INR in bank account to USD to buy BTC Transferring BTC to the account on Indian exchange BTC to INR selling commission. Still you could manage to make good profit. Remember that volumes on Indian exchanges is very low and you must be able to sell your BTC before prices correct Title: Re: Exchange price is different than international - Why!? Post by: ramkumar on November 18, 2016, 02:15:39 PM @Sahyadri, I have verified account on all indian exchanges. commission is very minimal (just 0.3% at coinsecure & 1.3% at zebpay etc.,)
How to buy 10 bitcoin using creditcard? i checked lot of international exchanges like coinmama,purse,bitcoin.com(exchange) but everyone have buy limit of $150, $350 (week) & $1050. any suggestions? Bump & Dump is normal thing in bitcoin,so we should use it to get easy money. Title: Re: Exchange price is different than international - Why!? Post by: Sahyadri on November 18, 2016, 11:47:44 PM If you consider credit card payment fee and exchange rate provided by credit card the rate comes near Indian rate only.
Title: Re: Exchange price is different than international - Why!? Post by: erikalui on November 20, 2016, 11:45:53 AM @Sahyadri, I have verified account on all indian exchanges. commission is very minimal (just 0.3% at coinsecure & 1.3% at zebpay etc.,) How to buy 10 bitcoin using creditcard? i checked lot of international exchanges like coinmama,purse,bitcoin.com(exchange) but everyone have buy limit of $150, $350 (week) & $1050. any suggestions? Bump & Dump is normal thing in bitcoin,so we should use it to get easy money. Indacoin allows users to buy $5000 in the first month and then no limits on buying bitcoins via credit cards. But their prices are too high which is not worth. The highest limit of other exchanges are 900 Eur per month and hence you can instead try 2-3 exchanges and buy your required amount. Title: Re: Exchange price is different than international - Why!? Post by: SpadeFX on November 20, 2016, 12:27:17 PM Hi, I seen that indian exchange (buy & sell) range is around $850+ but current bitcoin price is $750 only. So is it possible to buy bitcoin from international exchange and sell at indian exchange to get $100 / bitcoin. In this way easy to earn $1000 just flipping 10 bitcoins in few days. Anyone is already doing this? Its called arbitrage trading. In this regard, it may not be as easy to make money as it sounds. Bitcoin maybe a grey area in India, but I am pretty sure there are strict regulations when it comes to selling INR. Check for applicable FEMA regulations if you intend to do this. My guess is, smaller amounts might pass under the radar but anything substantial would definitely invite trouble. Title: Re: Exchange price is different than international - Why!? Post by: Marma Kalari on November 20, 2016, 07:11:31 PM Its called arbitrage trading. In this regard, it may not be as easy to make money as it sounds. Bitcoin maybe a grey area in India, but I am pretty sure there are strict regulations when it comes to selling INR. Check for applicable FEMA regulations if you intend to do this. My guess is, smaller amounts might pass under the radar but anything substantial would definitely invite trouble. i dont think that there will be an issue dealing with bitcoin in india and since there are no rules and regulations regarding bitcoin i dont think we will get into trouble dealing with it as long as you dont do anything illegal and if you are within the law it is just fine Title: Re: Exchange price is different than international - Why!? Post by: Sahyadri on November 20, 2016, 11:15:10 PM Its called arbitrage trading. In this regard, it may not be as easy to make money as it sounds. Bitcoin maybe a grey area in India, but I am pretty sure there are strict regulations when it comes to selling INR. Check for applicable FEMA regulations if you intend to do this. My guess is, smaller amounts might pass under the radar but anything substantial would definitely invite trouble. i dont think that there will be an issue dealing with bitcoin in india and since there are no rules and regulations regarding bitcoin i dont think we will get into trouble dealing with it as long as you dont do anything illegal and if you are within the law it is just fine I think what SpadeFX means to say is sending INR outside India might invite trouble (atleast an explanation) under FEMA if the amount is large. Title: Re: Exchange price is different than international - Why!? Post by: SpadeFX on November 21, 2016, 05:56:34 AM Its called arbitrage trading. In this regard, it may not be as easy to make money as it sounds. Bitcoin maybe a grey area in India, but I am pretty sure there are strict regulations when it comes to selling INR. Check for applicable FEMA regulations if you intend to do this. My guess is, smaller amounts might pass under the radar but anything substantial would definitely invite trouble. i dont think that there will be an issue dealing with bitcoin in india and since there are no rules and regulations regarding bitcoin i dont think we will get into trouble dealing with it as long as you dont do anything illegal and if you are within the law it is just fine I think what SpadeFX means to say is sending INR outside India might invite trouble (atleast an explanation) under FEMA if the amount is large. |