Too much price difference in Google search vs actual Indian exchange

[iamrohitkgupta]

I've seen this many times in the past but this time it's huge! Price on Google currently is 51K INR. In terms of dollars it is 740 per bitcoin. And 1 USD is 69 INR. Even then we get an exchange rate of 51,060. But price on most of the exchange is above 67k. How?

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[BitcoinMarshal]

I've seen this many times in the past but this time it's huge! Price on Google currently is 51K INR. In terms of dollars it is 740 per bitcoin. And 1 USD is 69 INR. Even then we get an exchange rate of 51,060. But price on most of the exchange is above 67k. How?

If you want to discuss about this then please move this topic to Bitcoins Discussion or Indian section this thread not belong to here

[erikalui]

These Indian exchanges cannot be compared to international exchanges or google rates as they offer a very high rate compared to other exchanges. That's the reason I prefer buying at international exchanges and selling at Indian exchanges due to the rate difference. When you buy bitcoins, do not check the rate offered at Indian exchanges and mostly check preev.com or Google as they provide accurate details.

[iamrohitkgupta]

That's the reason I prefer buying at international exchanges and selling at Indian exchanges due to the rate difference.

How do I, as an Indian, buy bitcoins from international exchange?

[bitcoinisbest]

That's the reason I prefer buying at international exchanges and selling at Indian exchanges due to the rate difference.

How do I, as an Indian, buy bitcoins from international exchange?

I dont think its feasible and possible as easily if you want to buy from International market as there are various procedures that yu need to get cleared from banks etc. Also it takes days and not instant. If there are any experts or who know who can individual from Indian bank account trade international kindly throw some light?

[erikalui]

That's the reason I prefer buying at international exchanges and selling at Indian exchanges due to the rate difference.

How do I, as an Indian, buy bitcoins from international exchange?

Some International exchanges accept payments from Indian residents but the payment needs to be made in USD which is easy if you open an account with Entropay and create a virtual visa card. One such exchange is Coinmama.

[Sahyadri]

Coinmama selling BTC @ $820 +Entrpay fee of 5% = $902/BTC

When charging the Entropay card with Indian bank issued credit / debit card the exchange rate applied will be minumum 70 INR/$

effective rate of BTC = 902x70 = INR 63140/BTC

Current buy rate on Coinsecure is INR 64000/BTC

Profit margin of 1.35%

now add the selling commission plus the price fluctuation during the time taken to transfer amount from Indian card to Entropay to Coinmama

you get 1 to 1.5 % profit while doing arbitrage trading within Indian exchanges itself.

[jjjack]

there is  a show room price and on road price u have to give some tax on buying bitcoin

[bitcoinisbest]

Suddenly all the of the sites prices have dropped together and now selling less than 60k. Till ystd all were above 60k+ where bitcoin was 728 around.  Today its has gone up to 732 and all exchanges gone down together almost  .

[deadley]

Suddenly all the of the sites prices have dropped together and now selling less than 60k. Till ystd all were above 60k+ where bitcoin was 728 around.  Today its has gone up to 732 and all exchanges gone down together almost  .

Price dropping in alll site becoz arbitrager like me trading in diff site and earning arbing differences. It's normal when 1 site have higher price and other lower price.

[bitcoinisbest]

Suddenly all the of the sites prices have dropped together and now selling less than 60k. Till ystd all were above 60k+ where bitcoin was 728 around.  Today its has gone up to 732 and all exchanges gone down together almost  .

Price dropping in alll site becoz arbitrager like me trading in diff site and earning arbing differences. It's normal when 1 site have higher price and other lower price.

Just wondering how come all sites/exchanges generally if go up is almost together and if price drops its near by the same drop. It looks like either you control the exchanges and site or mostly 1 big player is controlling exchanges/site.

[Blackshadow007]

That's the reason I prefer buying at international exchanges and selling at Indian exchanges due to the rate difference.

How do I, as an Indian, buy bitcoins from international exchange?

I dont think its feasible and possible as easily if you want to buy from International market as there are various procedures that yu need to get cleared from banks etc. Also it takes days and not instant. If there are any experts or who know who can individual from Indian bank account trade international kindly throw some light?

There is only one easy way to do that and that is Moneypolo , Great service and provides VISA Card to Indians and also you can upload funds via your VISA/MASTER Debit card to it and generate BTC-E Code from your balance . To do all this you have to go through a hell tough verification by Moneypolo .. I warn you before this if you taking this into consideration ... A serious tough verification process they have . I am now Level 2 Verified customer of Moneypolo and i am quite happy cause now i can easily buy from BTC-E instantly with 5% all total fees and sell to any Indian exchange and make handsome profit . Upload money to Moneypolo via card charges 4% and when you generate BTC-E code with your moneypolo balance another 1.25% so total 5.25% and 2.5 currency conversion rate ( currenty 71.25 INR per $ ) , Moneypolo legal and registered with FCA . Most amazing thing you can withdraw bitcoin to your ATM with their VISA Card [ 15$ cost per card takes 20 - 25 days to reach for Indians ]

[Sahyadri]

That's the reason I prefer buying at international exchanges and selling at Indian exchanges due to the rate difference.

How do I, as an Indian, buy bitcoins from international exchange?

I dont think its feasible and possible as easily if you want to buy from International market as there are various procedures that yu need to get cleared from banks etc. Also it takes days and not instant. If there are any experts or who know who can individual from Indian bank account trade international kindly throw some light?

There is only one easy way to do that and that is Moneypolo , Great service and provides VISA Card to Indians and also you can upload funds via your VISA/MASTER Debit card to it and generate BTC-E Code from your balance . To do all this you have to go through a hell tough verification by Moneypolo .. I warn you before this if you taking this into consideration ... A serious tough verification process they have . I am now Level 2 Verified customer of Moneypolo and i am quite happy cause now i can easily buy from BTC-E instantly with 5% all total fees and sell to any Indian exchange and make handsome profit . Upload money to Moneypolo via card charges 4% and when you generate BTC-E code with your moneypolo balance another 1.25% so total 5.25% and 2.5 currency conversion rate ( currenty 71.25 INR per $ ) , Moneypolo legal and registered with FCA . Most amazing thing you can withdraw bitcoin to your ATM with their VISA Card [ 15$ cost per card takes 20 - 25 days to reach for Indians ]

By the above calculation effective USD rate is 75 USD/INR
BTC @ 730 USD/BTC
translates to 54750 INR/BTC

no arbitrage opportunity at this rate

[deadley]

Suddenly all the of the sites prices have dropped together and now selling less than 60k. Till ystd all were above 60k+ where bitcoin was 728 around.  Today its has gone up to 732 and all exchanges gone down together almost  .

Price dropping in alll site becoz arbitrager like me trading in diff site and earning arbing differences. It's normal when 1 site have higher price and other lower price.

Just wondering how come all sites/exchanges generally if go up is almost together and if price drops its near by the same drop. It looks like either you control the exchanges and site or mostly 1 big player is controlling exchanges/site.

Then you don't know what and how arbitrager work in world. It's normal everywhere till when they will get risk free money they will buy in cheaper site and sell in costlier site. It's very easy at the end mostly becoz of arbitrager price in all site remain in minimum gap otherwise there will be huge gap everywhere.

[Blackshadow007]

That's the reason I prefer buying at international exchanges and selling at Indian exchanges due to the rate difference.

How do I, as an Indian, buy bitcoins from international exchange?

I dont think its feasible and possible as easily if you want to buy from International market as there are various procedures that yu need to get cleared from banks etc. Also it takes days and not instant. If there are any experts or who know who can individual from Indian bank account trade international kindly throw some light?

There is only one easy way to do that and that is Moneypolo , Great service and provides VISA Card to Indians and also you can upload funds via your VISA/MASTER Debit card to it and generate BTC-E Code from your balance . To do all this you have to go through a hell tough verification by Moneypolo .. I warn you before this if you taking this into consideration ... A serious tough verification process they have . I am now Level 2 Verified customer of Moneypolo and i am quite happy cause now i can easily buy from BTC-E instantly with 5% all total fees and sell to any Indian exchange and make handsome profit . Upload money to Moneypolo via card charges 4% and when you generate BTC-E code with your moneypolo balance another 1.25% so total 5.25% and 2.5 currency conversion rate ( currenty 71.25 INR per $ ) , Moneypolo legal and registered with FCA . Most amazing thing you can withdraw bitcoin to your ATM with their VISA Card [ 15$ cost per card takes 20 - 25 days to reach for Indians ]

By the above calculation effective USD rate is 75 USD/INR
BTC @ 730 USD/BTC
translates to 54750 INR/BTC

no arbitrage opportunity at this rate

Not now .. it was sweet when price was 60k+ .. i got price of 71INR per dollar and 5.25% addition to cost of purchase from BTC-e ... so yes enjoyed a lot during those days .

[philiveyjr]

Apparently its just coz of the demand and competition. I was selling bitcoins to a trader above the actual btc price(which is kinda strange as it hardly ever happens on localbitcoins) but he was happy to buy. When I asked him why r u giving such good rates? He told me its because of the demand.

[iamrohitkgupta]

Suddenly all the of the sites prices have dropped together and now selling less than 60k. Till ystd all were above 60k+ where bitcoin was 728 around.  Today its has gone up to 732 and all exchanges gone down together almost  .

Price dropping in alll site becoz arbitrager like me trading in diff site and earning arbing differences. It's normal when 1 site have higher price and other lower price.

Just wondering how come all sites/exchanges generally if go up is almost together and if price drops its near by the same drop. It looks like either you control the exchanges and site or mostly 1 big player is controlling exchanges/site.

Then you don't know what and how arbitrager work in world. It's normal everywhere till when they will get risk free money they will buy in cheaper site and sell in costlier site. It's very easy at the end mostly becoz of arbitrager price in all site remain in minimum gap otherwise there will be huge gap everywhere.

I understand what you're saying. Few months ago I used to buy ethereum and convert it to bitcoins via Polo then liquidate the Bitcoins and earn some profit. Slowly the price difference shrunk to a level where I couldn't do it anymore.

[Dudeperfect]

Yes, there will be the difference between Indian exchanges and International exchanges, and I see the following reason.

Currency Exchange – There are fees to convert USD to INR and ultimately it costs same if you try to buy from International markets, and thus I think the prices are more on Indian exchanges.

Buyers Will - The customers are willing to pay the excess amount, and thus sellers are selling at higher price. Sellers are offering more than one option for payment, and hence they charge more for service.

[eXpl0sive]

I know this is an old topic, but just wow...  the price difference is now unbelievably high.

Bitstamp price is $2635; even at $ 1 = INR 70, it comes to 184450. But the indian exchange prices are all above 220000.

[350z]

True. Everyone in India is selling at a premium. Too much greed?