am happy somebody from uncoin responded. thankyou. what if nobody wants to sell & everybody wants to buy at those cheap prices? where will the coins come from then? thankyou in advance.
Hello cyphos,
I do not come to this forum very often. I am happy to reply if you can email me on
sathvikv@unocoin.com or
support@unocoin.comWell it is more or less of a chicken and egg question I would say.
The price of Unocoin depends upon international exchange rates, our own buying and selling volumes in last few hours and our stocks. The weight-age of these parameters vary sometimes.
Now, it is a very rare situation that internationally there are both buyers and sellers for bitcoin (that is what decides the market price) at the rate XXX but in India only buyers exist. Also understand that the BTC price in India is usually 2-4% more than international market price. So for sure some one will see the arbitration opportunity and sell bitcoins in India and buy bitcoins else where. This should bring in some bitcoins that can be given to buyers.