Too much price difference in Google search vs actual Indian exchange

[sardasa]

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 think cex.io is a good exchanger if you want to buy international. I have been using it for awhile now. The rates are abit lower in comparison to Indian exchange websites

Are you an Indian or NRI? If Indian how much btc you buy regularly and how do you do payment through? What are the fees involved in buying/selling and wire transfer charges and withdrawal? How many days it takes to send the money too?

I was browsing their site yesterday and came across this:

cex.io/limits-commissions

They accept credit cards also, even from unverified customers. But they charge 3.5% fees on credit cards, apart from your CC company would also charge 3.5%. So you end up paying 7% fees for deposits.

Although I can see they also accept wire transfer which has low fees, but that might be difficult to execute from an Indian bank account.

Not only this, their BTC/USD rates are way above preev. If you buy at that rate using your credit/debit card then you would end up paying more than what you would have paid to our very own Indian Exchanges for the same amount of BTC.

[bitcoinisbest]

Well adding so much fees and time consuming so its better you can buy at Indian exchanges or local bitcoin or on this forum where you will get the btc quickly and also you do not have to much worry about the various international rules, FEMA , bank inquiry if they see some big amount through CC/DC etc.

[karan1498]

Well adding so much fees and time consuming so its better you can buy at Indian exchanges or local bitcoin or on this forum where you will get the btc quickly and also you do not have to much worry about the various international rules, FEMA , bank inquiry if they see some big amount through CC/DC etc.

Who will buy at so much premium!! Everyone wants at intl market rate!

[sardasa]

Well adding so much fees and time consuming so its better you can buy at Indian exchanges or local bitcoin or on this forum where you will get the btc quickly and also you do not have to much worry about the various international rules, FEMA , bank inquiry if they see some big amount through CC/DC etc.

Who will buy at so much premium!! Everyone wants at intl market rate!

How can an Indian buy BTC at International rates without getting ripped off and ending up paying same rates as Indian markets?

[bitcoinisbest]

Well adding so much fees and time consuming so its better you can buy at Indian exchanges or local bitcoin or on this forum where you will get the btc quickly and also you do not have to much worry about the various international rules, FEMA , bank inquiry if they see some big amount through CC/DC etc.

Who will buy at so much premium!! Everyone wants at intl market rate!

Well what do you do then, do you buy from International market or from Indian market? If from International then how much % of total fees do you pay in turn, like depositing  withdrawing etc. Also what are FEMA laws etc are you aware of it?

[karan1498]

How can an Indian buy BTC at International rates without getting ripped off and ending up paying same rates as Indian markets?

it only works when in india everyone is selling at more premium than the market rate . like about 15-20% above the market rate .

Well what do you do then, do you buy from International market or from Indian market? If from International then how much % of total fees do you pay in turn, like depositing  withdrawing etc. Also what are FEMA laws etc are you aware of it?

FEMA laws, i am not aware much about the laws , but the limits are 250k$ and if you buying via cards you shouldnt be worrying much about the laws ! Even if you do bank wires , you only need to tackle bank . laws will affect you i guess after you cross the limits, which finds you suspicious . I pay anywhere between 9-12% fee in total .

[btcrocks]

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

If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.

But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?

Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC

You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]

You can buy from bitlish.com(KYC to be submitted) through credit card.

Current price - 2345$

Fee-4%+0.25$=~95$

Now Convert it to INR=2440x65=158600

Plus Foreign conversion markup fee+tax on CC=4.1% =165103

Current price on coinsecure 189000

Profit-->189000-165103=23897(in one day)

I have not included exchange fee and bitcoin transfer fee

If you do this method often you will come under FEMA act of Indian Govt.

There is a limit of 10L or 50L per year for credit cards under FEMA act,not much sure about this..

Does the normal Indian debit/credit card works in that?

Yes, it will work I have already done few trades, but right now it's not advisable as the market is in the downtrend and you may end up with a huge loss.

[bitcoinisbest]

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

If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.

But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?

Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC

You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]

You can buy from bitlish.com(KYC to be submitted) through credit card.

Current price - 2345$

Fee-4%+0.25$=~95$

Now Convert it to INR=2440x65=158600

Plus Foreign conversion markup fee+tax on CC=4.1% =165103

Current price on coinsecure 189000

Profit-->189000-165103=23897(in one day)

I have not included exchange fee and bitcoin transfer fee

If you do this method often you will come under FEMA act of Indian Govt.

There is a limit of 10L or 50L per year for credit cards under FEMA act,not much sure about this..

Does the normal Indian debit/credit card works in that?

Yes, it will work I have already done few trades, but right now it's not advisable as the market is in the downtrend and you may end up with a huge loss.

Have you used CC or DC? And which is more advisable to use CC or DC? Is there any difference in the fees anywhere when DC or CC is being used to purchase btc. How much time it takes to make a purchase, is the amount deposited in bitlish.com instant or it takes time?

[sardasa]

-snip-
Have you used CC or DC? And which is more advisable to use CC or DC? Is there any difference in the fees anywhere when DC or CC is being used to purchase btc. How much time it takes to make a purchase, is the amount deposited in bitlish.com instant or it takes time?

For bitlish.com it does not matter whether it's CC or DC. It would matter to you as consumer, you might get more reward points when using CC instead of DC (depending upon your CC issuer) and then you can pay your CC bill after few days in next few months.
During this time you can sell your BTC and earn some profit and pay your CC bill with your profit too.

Deposit time should be instant whether one uses CC or DC. FX conversion should also be the same whether one uses CC or DC.
Once USD/EUR is deposited in your Bitlish account then you're able to buy BTC instantly.

[Prodigan786]

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

If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.

But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?

Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC

You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]

Awesome i was really looking into this i dint find any way to add fund and buy bitcoin .But again lots of things foreign exvchange and also FEMA limit . Why indian comapnies keeping huge margin for Buy and sell . Even my lots of friends who are just beginners want to invest while am showing these apps they also get back their step by seeing buy and sell price.

You can buy from bitlish.com(KYC to be submitted) through credit card.

Current price - 2345$

Fee-4%+0.25$=~95$

Now Convert it to INR=2440x65=158600

Plus Foreign conversion markup fee+tax on CC=4.1% =165103

Current price on coinsecure 189000

Profit-->189000-165103=23897(in one day)

I have not included exchange fee and bitcoin transfer fee

If you do this method often you will come under FEMA act of Indian Govt.

There is a limit of 10L or 50L per year for credit cards under FEMA act,not much sure about this..

[btcrocks]

-snip-
Have you used CC or DC? And which is more advisable to use CC or DC? Is there any difference in the fees anywhere when DC or CC is being used to purchase btc. How much time it takes to make a purchase, is the amount deposited in bitlish.com instant or it takes time?

For bitlish.com it does not matter whether it's CC or DC. It would matter to you as consumer, you might get more reward points when using CC instead of DC (depending upon your CC issuer) and then you can pay your CC bill after few days in next few months.
During this time you can sell your BTC and earn some profit and pay your CC bill with your profit too.

Deposit time should be instant whether one uses CC or DC. FX conversion should also be the same whether one uses CC or DC.
Once USD/EUR is deposited in your Bitlish account then you're able to buy BTC instantly.

Agreed, but we can buy today using CC and once we sell off in a few days on Indian exchanges and pay the CC bill as soon as possible, so it will take about 3-4 days to reflect in the CC and again we can start doing the same part of trading, No need to wait till we get our CC bill till next month.

[karan1498]

is bitlish trust worthy? and do they allow instant btc withdrawal?

[Chandu141]

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