There is a still big gap between BTC currency

[hakunaking]

Well.
I am from Sth Korea, and there are only two huge market where you can purchase BTC.

I realize today there is a still big gap between Korean market and foreign market.

In Korea they sell 1BTC for 3,413,000 KRW but in preev.com it's 2,941,000.
So, Those of you who can buy bitcoin in USA or Europe, get someone who can speak Korean and sell it.

[ployfit]

Well.
I am from Sth Korea, and there are only two huge market where you can purchase BTC.

I realize today there is a still big gap between Korean market and foreign market.

In Korea they sell 1BTC for 3,413,000 KRW but in preev.com it's 2,941,000.
So, Those of you who can buy bitcoin in USA or Europe, get someone who can speak Korean and sell it.

Well, let's say we got it in Usa and send Korean exchange's wallet. And we sold it out for a higher price in Korean exchange. How the hell will we withdraw our fiat money? This 99.999% won't be possible in your country.

[hakunaking]

Yeah, maybe you are right.
i was just giving you a info though.

[Tazmo]

We are in the speculative phase. Exchanges just work for traders. People don't use bitcoin what it was designed for as much as they should. It will just take time I guess...

[pooya87]

the only way something like that is going to work is if the two persons in two different countries find a way to safely and without any way of charge back or any kind of other fraud, transfer money between each other. transferring bitcoin is no problem.
money doesn't have to be in fiat (eg USD). it can be other forms, other things with equal value that can easily be sold. the biggest problem is finding such a thing.

[n0ne]

the only way something like that is going to work is if the two persons in two different countries find a way to safely and without any way of charge back or any kind of other fraud, transfer money between each other. transferring bitcoin is no problem.
money doesn't have to be in fiat (eg USD). it can be other forms, other things with equal value that can easily be sold. the biggest problem is finding such a thing.

A mutually understanding person who can trust each other can make a profit out of it. Even a single issue could cause a big problem as each person needs to be responsible in making a give and get back the transaction. This might workout between two friends who were residing in USA or Europe and one in South Korea.

[Iranus]

Well.
I am from Sth Korea, and there are only two huge market where you can purchase BTC.

I realize today there is a still big gap between Korean market and foreign market.

In Korea they sell 1BTC for 3,413,000 KRW but in preev.com it's 2,941,000.
So, Those of you who can buy bitcoin in USA or Europe, get someone who can speak Korean and sell it.

Well, let's say we got it in Usa and send Korean exchange's wallet. And we sold it out for a higher price in Korean exchange. How the hell will we withdraw our fiat money? This 99.999% won't be possible in your country.

For returns s high as the premium on South Korean exchanges, I still think arbitrage between countries is feasible.

However, you'd need someone trustworthy, but you also need to deal with a very large sum of money for it to work, so it gets extremely hard to find someone you can trust.

There's also always the risk of something going wrong with the exchange or in the transfer.

There's also the buy/sell spread; exchange fees; fees of moving fiat; fees of moving BTC; the difficulty of splitting the profits between yourselves; the time spent resulting in you losing money from Bitcoin volatility...

To be honest the more you think about it the more confusing it looks.

[Minerolero]

Well.
I am from Sth Korea, and there are only two huge market where you can purchase BTC.

I realize today there is a still big gap between Korean market and foreign market.

In Korea they sell 1BTC for 3,413,000 KRW but in preev.com it's 2,941,000.
So, Those of you who can buy bitcoin in USA or Europe, get someone who can speak Korean and sell it.

Well, let's say we got it in Usa and send Korean exchange's wallet. And we sold it out for a higher price in Korean exchange. How the hell will we withdraw our fiat money? This 99.999% won't be possible in your country.

For returns s high as the premium on South Korean exchanges, I still think arbitrage between countries is feasible.

However, you'd need someone trustworthy, but you also need to deal with a very large sum of money for it to work, so it gets extremely hard to find someone you can trust.

There's also always the risk of something going wrong with the exchange or in the transfer.

There's also the buy/sell spread; exchange fees; fees of moving fiat; fees of moving BTC; the difficulty of splitting the profits between yourselves; the time spent resulting in you losing money from Bitcoin volatility...

To be honest the more you think about it the more confusing it looks.

One can make a living if they find a way to make proper arbitrage. Really not easy though.

[hakunaking]

Well.
I am from Sth Korea, and there are only two huge market where you can purchase BTC.

I realize today there is a still big gap between Korean market and foreign market.

In Korea they sell 1BTC for 3,413,000 KRW but in preev.com it's 2,941,000.
So, Those of you who can buy bitcoin in USA or Europe, get someone who can speak Korean and sell it.

Well, let's say we got it in Usa and send Korean exchange's wallet. And we sold it out for a higher price in Korean exchange. How the hell will we withdraw our fiat money? This 99.999% won't be possible in your country.

For returns s high as the premium on South Korean exchanges, I still think arbitrage between countries is feasible.

However, you'd need someone trustworthy, but you also need to deal with a very large sum of money for it to work, so it gets extremely hard to find someone you can trust.

There's also always the risk of something going wrong with the exchange or in the transfer.

There's also the buy/sell spread; exchange fees; fees of moving fiat; fees of moving BTC; the difficulty of splitting the profits between yourselves; the time spent resulting in you losing money from Bitcoin volatility...

To be honest the more you think about it the more confusing it looks.

True...
Ive been looking for the way, but its really hard to find a way.
The biggest problem is there is no market i can sign up with Korean nationality..
Fees can be covered if only i could pay with cash (bank transfer), but as i said, i cant sign up to the EU or US bitcoin market..

[Idrisu]

Well.
I am from Sth Korea, and there are only two huge market where you can purchase BTC.

I realize today there is a still big gap between Korean market and foreign market.

In Korea they sell 1BTC for 3,413,000 KRW but in preev.com it's 2,941,000.
So, Those of you who can buy bitcoin in USA or Europe, get someone who can speak Korean and sell it.

I have been visiting South Korea Exchangers platform since this link information on this forum for arbitrage trading. I find a great opportunity but you have to do in black market form I.e find someone in south Korea who will be sell your bitcoin for you and transfer fiat to you as you can not do all things yourself online.

[hakunaking]

Well.
I am from Sth Korea, and there are only two huge market where you can purchase BTC.

I realize today there is a still big gap between Korean market and foreign market.

In Korea they sell 1BTC for 3,413,000 KRW but in preev.com it's 2,941,000.
So, Those of you who can buy bitcoin in USA or Europe, get someone who can speak Korean and sell it.

I have been visiting South Korea Exchangers platform since this link information on this forum for arbitrage trading. I find a great opportunity but you have to do in black market form I.e find someone in south Korea who will be sell your bitcoin for you and transfer fiat to you as you can not do all things yourself online.

Well, since i'm Korean there are no diffculties selling bitcoin from EU & US market.
The only problem is i cant buy BTC from foreign market. I cant even sign up at the market..
Which platform have you visited?

[wantjokull]

You can buy and sell from thousands of market no matter in which part of the world you are. You try exchangers to switch into two different markets and you will not need anyone to help you from different countries. That is the beauty o trading platforms. You get currency of another country exchanged for your local currency and then sell it off once you get profit margins for yourself. People here are suggesting black market to enter into exchangers for other currencies but it is not needed as that would be money laundering. So it is better to go with legal sites and make your exchange on bitcoin exchangers.

[bouren]

Well.
I am from Sth Korea, and there are only two huge market where you can purchase BTC.

I realize today there is a still big gap between Korean market and foreign market.

In Korea they sell 1BTC for 3,413,000 KRW but in preev.com it's 2,941,000.
So, Those of you who can buy bitcoin in USA or Europe, get someone who can speak Korean and sell it.

This is because bitcoin prices are determined by demand/supply in particular region. Presently bitcoin demand in Asian countries like Korea, India, etc is much more than western countries. Thus, prices in these regions are higher. But if someone deciding to grab this as opportunity then sorry, because it is very cumbersome to buy/sell such due to fees, volatility, uncertainty and restrictions.

[AK47-]

Well.
I am from Sth Korea, and there are only two huge market where you can purchase BTC.

I realize today there is a still big gap between Korean market and foreign market.

In Korea they sell 1BTC for 3,413,000 KRW but in preev.com it's 2,941,000.
So, Those of you who can buy bitcoin in USA or Europe, get someone who can speak Korean and sell it.

This is because bitcoin prices are determined by demand/supply in particular region. Presently bitcoin demand in Asian countries like Korea, India, etc is much more than western countries. Thus, prices in these regions are higher. But if someone deciding to grab this as opportunity then sorry, because it is very cumbersome to buy/sell such due to fees, volatility, uncertainty and restrictions.

Buying in one market and selling in other is called arbitrage. It might sounds simple but it isn't that easy. I tried it and I completely agree with the problems you listed that are fees, volatility and uncertainties. It is really cumbersome.

[naidray]

Almost every day some people are here coming with an idea of going for arbitrage trading. But I'm not at all hearing any successful making use of those opportunities. Yes, I am well aware of there might be many practical hurdles, still I love to hear any success stories of easy profits by trading with price gaps.

[xuan87]

Almost every day some people are here coming with an idea of going for arbitrage trading. But I'm not at all hearing any successful making use of those opportunities. Yes, I am well aware of there might be many practical hurdles, still I love to hear any success stories of easy profits by trading with price gaps.

Because it is not that easy to do arbitrage, there are so many obstacles to handle when you want to do arbitrage trading, one of the matter is the confirmation times, because the profit of the arbitrage is small and it need a huge capital, a slow confirmation could make the trader suffered a lost, so it is more risky than usual trading, I managed to do one successful arbitrage trading, but it is a very stressful situation where I keep in checking my balance, and pray the price won't drop down suddenly

[Victorycoin]

the only way something like that is going to work is if the two persons in two different countries find a way to safely and without any way of charge back or any kind of other fraud, transfer money between each other. transferring bitcoin is no problem.
money doesn't have to be in fiat (eg USD). it can be other forms, other things with equal value that can easily be sold. the biggest problem is finding such a thing.

It can work if we take a cue from the leverage Purse.io brought to play at Amazon, the hard part would be finding a Korean escrow and am thinking a thorough job through google for Korean Bitcoin community can come handy - just my opinion, because the internet is aflow with scammers and fraudsters.

[MFahad]

What happens when you try to change the Korean currency to another or is not part of the deal?  Backlash arbitrage works and we have all been doing that for a while, but it is a serious pain and the difference are not really the same as there are huge fees that get thrown in along the way.

[hakunaking]

What happens when you try to change the Korean currency to another or is not part of the deal?  Backlash arbitrage works and we have all been doing that for a while, but it is a serious pain and the difference are not really the same as there are huge fees that get thrown in along the way.

Where there is a limit for each person can exchange KRW to USD (maximum $50000 in year).
And also there are exchanging fees and transfer fees too.
So what i'm actually thinking is there are many State citizen in Korea for a work, i meet them in person and ask them to sign up to the coinbase or cex.io and get the bitcoin with USD from there own bank or credit card. After He/She transfer to my wallet, i pay them with KRW in cash.
What do you think about my idea?
I thought about how to arbitrage trade, i think this is the best idea..
I could try on online but its way too risky.

[Sweetbtc]

What happens when you try to change the Korean currency to another or is not part of the deal?  Backlash arbitrage works and we have all been doing that for a while, but it is a serious pain and the difference are not really the same as there are huge fees that get thrown in along the way.

Where there is a limit for each person can exchange KRW to USD (maximum $50000 in year).
And also there are exchanging fees and transfer fees too.
So what i'm actually thinking is there are many State citizen in Korea for a work, i meet them in person and ask them to sign up to the coinbase or cex.io and get the bitcoin with USD from there own bank or credit card. After He/She transfer to my wallet, i pay them with KRW in cash.
What do you think about my idea?
I thought about how to arbitrage trade, i think this is the best idea..
I could try on online but its way too risky.

We tried scripting it awhile back in 2016 and it changes too quickly to leave that way and trust it, so quickly that even with major stop gaps in there it can still kill you.