Why it advisable to buy/not buy from international exchanges

[BabluPP]

Hi All,

Call me n00b but I am unable to understand why it is advisable or not advisable to buy btc from international exchanges such as coinbase, coinmama or cex.io instead of indian ones?

I am totally new to all this and I want to buy btc for investment purposes but cant figure out WHY there is no much price difference between prices of local (coinsecure, zebpay) and international (coinmana, coinbase, cex.io) exchanges. Also, I dont want to be scammed in my first purchase itself

Any reply is really appreciated.

Regards,
BabluPP

[kabit9]

advisable to buy from indian exchanges if you are indian as investment has to be shown in books for tax.

you can also buy upto 250,000$ per year from foreign exchange, then fall under FEMA and more paperwork and headache involved. better pay 15% premium in India, unless amount is huge!

[BabluPP]

advisable to buy from indian exchanges if you are indian as investment has to be shown in books for tax.

you can also buy upto 250,000$ per year from foreign exchange, then fall under FEMA and more paperwork and headache involved. better pay 15% premium in India, unless amount is huge!

Thank you for prompt reply.

Can we show buying btc as investment in our IT returns? I highly doubt it as btc is not recognized by indian govt.

FEMA limit is too high for me. I will never be able to breach it . I am thinking of buying coins from either cex.io or coinmama. Has anyone used it before?

The difference b/w intl exchange and indian exchane is still huge. Last.time i checked, price difference was 30k.

Also, Im thinking of buying using my credit card first. Once i get comfortable with whole process, i will use bank transfer. Is this a good decision?

Regards,
BabluPP

[nawabofdelhi]

As kabit9 said,

If the amounts are small, just pay the premium here. FEMA is a major pain in the backside.

[Smarty14392]

You can purchase small amount from any site. It dosent matter that its a international or local site for buying small amount. . If you want to purchase a huge amount of bitcoin, you can find some local dealers on localbitcoin or you can deal with local sites. International sites will give you a lot of paperwork for huge amoubts so local sites are preferred. The best way to deal with huge amounts is to deal face to face. It has no risk of scamming or any issue. You can simple transfer your bitcoin with some tax and a less paperwork.

[cryptoheadd]

Not advisable: Because of FEMA and what @kabit9 said:

advisable to buy from indian exchanges if you are indian as investment has to be shown in books for tax.

you can also buy upto 250,000$ per year from foreign exchange, then fall under FEMA and more paperwork and headache involved. better pay 15% premium in India, unless amount is huge!

Advisable: Because of the premium on Bitcoin here. 

[niisarearning]

I have tried with local exchanges having premium not exactly 15% it varies upto 25% because of huge demand in last few months . If your really investing small amount you can choose both but benefit will be 1) Foreign exchange like caoibase you can trade altcoins also in same platform no need of sending transaction fees 2) Local exchange secure and trusted and you can buy like purchasing share by providing extra premium amount.