Bitcoin Forum

Indian market unocoin sells bitcoins approximately for $2470 and we can sell there for $2380 and bitstamp is right now trading at $1985.
I did see people were arbitrage trading with Korean exchange some times back, now Indian exchange offers similar opportunity. Plan up to gain easy and sure-shot profits.

Get stuck unverified with RupeesTether on an Indian exchange? Good luck.

I'm from India and I can trade on Unocoin. Is there any place that accepts my Indian card to buy BTC on the actual rates? Can anyone help me on buying for Arbitrage trading?

Thank for this information, many of us trading will do research on what you just post now and if there is probability of arbitrage trade. $400 different is enough to cover exchangers and banking fees. Indians also have a very wide opportunity for other bitcoin trading, like margin, buying and hold and sltcoins flipping.

Yeah, the difference is pretty good. But only Indian citizen can get account in places like Unocoin since they need government issued verification to buy/sell.

I have an Unocoin account, but I dont know where to buy BTC for the actual trading cost. Can someone help me with that? Some place that sells BTC for Paypal or Debit card for people in other countries and without much verifications.

You can try cex.io as they are accepting debit/credit cards for buying bitcoins. Their rates are as per major exchanges like bitstamp so you can make use of them. But you need to verify your identify and you need to prove your card is not a stolen one (by providing a selfie with holding the card).

The second option would be buying in Xapo using bank wire transfer. But make your Xapo account with clear and original details as per your documents as they may ask for submitting your documents at any time by locking your funds.

There is a website called Virwox where people buy bitcoin with paypal. They actually buy Linden $ (SLL) and then sell it for Bitcoin. They charge high rates but but it´s worth it at the end if the gap is still so large. Another option is Localbitcoins but there sellers usually ask for many verifications.

Yeah, no kiddin'.  I never heard of this exchange, but I'm not in India so it doesn't surprise me.  And though the arbitrage opportunity sounds great, there's no way in hell I'd risk getting my funds stuck over in Asia just to make a few bucks.  Especially some unknown one like this.  But good luck to whoever does it, you're going to need it.

Yes, people do share about different difficulties for arbitrage trading but I'm not talking about this particular India based opportunity, overall dealing with fiats might lead to long waiting/clearing verification process. But I do see Indian exchanges are providing such opportunity more frequently now a days.

Innovating any practical idea to make use of these price gaps definitely will be resulting in more beneficial to this community. I'm not expert in dealing with exchanges sommothly. Maybe some experience/professional traders may come with any working ideas.

Using these Indian exchanges is pretty much impossible for foreigners since they work with the government and all accounts are manually ID verified with thing thing called 'Aadhar' which is like social security numbers. If someone can work on a way of acquiring BTC at the actual selling price, I can work with them and make a profit. PM me if anyone is interested...

LocalBitcoins is not an option since even they sell at these high costs. Tell me about this VirVox. Can you explain more? Im not able to find much about it.

The price difference between the Indian trading platform and all other exchanges shows the emerging bitcoin market demand in India. Similar situation prevailed in India during the days of demonetization. May be Asian countries make advancement in the growth of digital currency by the coming days.

arbitrate trading between two countries with two different fiat currency is only going to work if you already have a verified account on both places and are sure you can get money in and out of them easily or know someone who can do this with you and trust them.

in both cases the risks are high and it is a lot of work. and when working internationally and transferring fiat like that you may encounter a couple of problems too, specially if it is a large amount.

OK, the difference is about $700 now. But Im not able to find any source which will sell BTC at the actual rates. Someone please help me out here. I can sell these BTCs at the higher cost since I'm in India and I have a verified account. But I'm not able to acquire BTC at reasonable rates....

I don't think there are any international trading platform that accepts bank deposits or cards from India. You can ask your friends or relatives who are currently residing out of India and can buy bitcoin for you, you can work as remittance agent for them.  ;)

Thats a good idea actually and Indians can easily earn some money with this difference. But I'm afraid the Unocoin or other exchanges may put a hold on higher amount of money and also I have heard that BTC transactions are thought as a negative thing by Indian Govt. So think twice before doing something.

I guess this is not cool to buy the Bitcoin with the paypal. You will be needed to engage many more things with it if you have decided to do the purchase with the paypal, because of the requirements. Also the paypay charge you high fees and exchange rates are not in favor of the buyer. I prefer the localbitcoin.

Yes India is in the list of those countries that are accepting and adopting the bitcoin rapidly. India being one of the top countries of the world in the field of the Information Technology have a great acceptance to the technological revolutions and I guess that after Japan India may be the next country to legalize the Bitcoin.

LOL. India will never legalize BTC.

Yes, there is a scope to trade Bitcoin in India at fair price, that is what even buyers in India are looking for, but there is a major problem in remitting money outward from India. Most of the debit cards do not work online for international transaction, even they cannot hold money in Paypal (auto withdrawn to bank as per government rules) - to send money even through Paypal they need to have a International Credit Card, which very few in India have.

My most profitable arbitrage opportunists have come from buying on Bittrex, selling on Poloniex. You guys might want to check it out. Sometimes I'm able to capitalize on a $200 difference.

Did anyone go ahead with this? I am based in US and can help source BTC for USD for affordable prices. The arbitrage gap is pretty huge to find ways.