From where do Indian exchanges like Zebpay & Unocoin buy bitcoins?

[cryptoguy2]

Indian exchanges / wallets always have way higher prices of bitcoins than those of international exchanges. Just a bit curious to know from where do they buy bitcoins as they have ridiculously high prices.

[ahmedjamal1998]

Well since the whole point of those local exchanges is to provide a method of purchase for local people to buy bitcoins, they do whatever they want.

I mean literally they can buy coins off other exchanges (1 btc = about $2400 on coinbase) using any international bank wiring or whatever (as they sell it for more than $3000).

I don't know how banks work in India but maybe these exchanges don't accept money from local people so exchange owners use this to put their own rules/prices.

[cryptoguy2]

Well since the whole point of those local exchanges is to provide a method of purchase for local people to buy bitcoins, they do whatever they want.

I mean literally they can buy coins off other exchanges (1 btc = about $2400 on coinbase) using any international bank wiring or whatever (as they sell it for more than $3000).

I don't know how banks work in India but maybe these exchanges don't accept money from local people so exchange owners use this to put their own rules/prices.

They have stated that they don't buy bitcoins from international exchanges.........I read this somewhere.