Bitcoin Forum
December 12, 2024, 04:59:36 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: ETH rate conversion and exchanges dirty business  (Read 576 times)
TheWolf666 (OP)
Full Member
***
Offline Offline

Activity: 615
Merit: 154


CEO of Metaisland.gg and W.O.K Corp


View Profile WWW
August 22, 2017, 07:33:56 PM
 #1

I am located in Thailand and I use https://bx.in.th
But for Day Trading I use http://HITBTC.com

Right now, ETH is $314 at HITBTC, and $325 at BX.IN.TH (don't know why)

I have 11 ethers that I want to convert to fiat. The THB is the currency of Thailand.

If I use HITBTC directly to send on my Thai bank, I get $3454  ->  114,829 THB(conversion from the website)
If I move the Ether from HITBTC->BX.IN.TH, and I send to my bank from BX I get $3,943,7 -> 118,612.7 THB (conversion from the website).

I used BX of course and got this money minus their commission: 117,698.00 THB

How is this possible?

ahmadakbari
Full Member
***
Offline Offline

Activity: 602
Merit: 116


View Profile
August 22, 2017, 08:02:00 PM
 #2

Prices in exchanges are determined by buyers and sellers and I don't think exchanges manipulate the prices. When you are using an exchange to buy your ETH, You are just using that exchange, and there is another person which is buyer.

Prices are determined by demand and supply.
billyj111
Full Member
***
Offline Offline

Activity: 322
Merit: 100


Deal Coin - P2P Lending Eco-system


View Profile
August 22, 2017, 08:08:09 PM
 #3

Probably some commission during changing, or the course fell.

The Deal Coin      BLOCKCHAIN LENDING PLATFORM                   
FACEBOOK     PRE-SALE | March 26th  ]     TWITTER     [ CROWDSALE | April 16th ]     TELEGRAM
ANN THREAD          ⚫          BOUNTY THREAD          ⚫          WHITEPAPER
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!