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Dear Everyone,
i had few doubts about exchange & their prices.
so far, i'm using Igot exchange because they accept Indian Bank Deposit & Withdrawal.
Normally their Bitcoin price is : $10 higher than Preev.com (All exchange have their own price)
Recently their Buy & sell price differences has been increased 110%.
It was Rs 300 but now it is around Rs 700.
For an example:
Before >> If i bought 1 BTC @ Rs 14500, Sell price is Rs 14200 at the time.
Now >> If i bought 1 BTC @ Rs 14500, sell price is Rs 13800 at the time.
also they take 0.5% commission too.
I submitted ticket about it, and they replied,
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Dear XXXXXX,
Thank you for contacting igot.com.
Price spread is more to do with stopping certain people who do not live in India and still use INR and conduct currency trading instead.
People talk all sorts of stuff because their withdrawals are delayed or they are not happy or they are simply our competitors.
The spread is put in place to maintain our competitive advantage.
We expect it to be between INR 300 to INR 700.
If you wanted to sell fresh Bitcoin and needed a better pricing, simply contact us and we will try and help you.
I hope I’ve resolved your issue today.
Please do not hesitate to contact us for any further questions.
Regards,
Julie
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I can't understand their reason for the price difference.
If i switched INR to USD then price difference around just $5 (Rs 300 only)
anyone here help me to understand it better way?!
Except this issue, It's a great exchange to Deposit & withdraw using INR.
Currently i'm planning to move my bitcoins to blockchain.
I will invest more once this issue got solved.
Thank you for your support & time spent to help me.
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