Bitcoin Arbitrage between different countries

[loews]

i was checking a exchange in africa and the bitcoin there is $18200  
but...to withdraw they support only local country banks
any idea how to get around this?

[omorfi]

Here in Turkey, turkish bitcoin exchanges btc prices are very different too. Sometimes price differences vary widely ike 3.000 turkish lira that equals to 800-850 usd. But the processes are very slow. That frightens people to try arbitrage i think

[Kprawn]

i was checking a exchange in africa and the bitcoin there is $18200 
but...to withdraw they support only local country
any idea how to get around this?

That must be Zimbabwe, because I saw that they were selling at prices around $18000 when the price was around $11 000.

If you can find a local from there, who can be trusted... you might be able to arrange some sort of a deal. I would split

the profit 50/50 if I could find such a person. {close to impossible} ... Just imagine buying at $11 000 and then selling at

$18 000. {+/- $7000 profit per coin} -- You split that 50/50 and the guy gets $3500 profit on every coin. The risk is huge,

but the reward is even bigger. You have to leave room for trading fees and finding a way to get the money back to your

country. 

[loews]

i was checking a exchange in africa and the bitcoin there is $18200 
but...to withdraw they support only local country
any idea how to get around this?

That must be Zimbabwe, because I saw that they were selling at prices around $18000 when the price was around $11 000.

If you can find a local from there, who can be trusted... you might be able to arrange some sort of a deal. I would split

the profit 50/50 if I could find such a person. {close to impossible} ... Just imagine buying at $11 000 and then selling at

$18 000. {+/- $7000 profit per coin} -- You split that 50/50 and the guy gets $3500 profit on every coin. The risk is huge,

but the reward is even bigger. You have to leave room for trading fees and finding a way to get the money back to your

country. 

there is a few services to send the money back to my country isnt a big problem
big problem is find someone high trusted in africa to do this 

[dashdash]

Here in Turkey, turkish bitcoin exchanges btc prices are very different too. Sometimes price differences vary widely ike 3.000 turkish lira that equals to 800-850 usd. But the processes are very slow. That frightens people to try arbitrage i think

Hi,

would be interested in talking BTC arbitrage in Turkey with you. but can't write you as a newbie.

[Marma Kalari]

i was checking a exchange in africa and the bitcoin there is $18200  
but...to withdraw they support only local country banks
any idea how to get around this?

It is very difficult to take advantage of the price difference from local exchanges, because you need to have specific local bank accounts and you need to verify your identity to trade with those exchanges and the only solution is to find someone who could help you in dealing these exchanges, but it is a really risky procedure and i would not dare to trust anyone when it comes to money.

[cryptogeek101]

i was checking a exchange in africa and the bitcoin there is $18200  
but...to withdraw they support only local country banks
any idea how to get around this?

That Bitcoin price in that African country would be an interesting arrangement opportunity for an arbitrage deal with other countries selling low. But you would told us the name of the country so that we might try our luck.

[Pursuer]

i was checking a exchange in africa and the bitcoin there is $18200 
but...to withdraw they support only local country banks
any idea how to get around this?

That Bitcoin price in that African country would be an interesting arrangement opportunity for an arbitrage deal with other countries selling low. But you would told us the name of the country so that we might try our luck.

in case you missed the date of this post, it belongs to last year (5+ months ago) and bitcoin price has changed a lot since then. there still is a difference between the price in USD and price in African countries because of lack of bitcoin supply there.
additionally I know that bitcoin price was recently a lot higher in Venezuela since there was a surge in demand. you may want to check that out.

[Direwolve735]

i was checking a exchange in africa and the bitcoin there is $18200 
but...to withdraw they support only local country
any idea how to get around this?

That must be Zimbabwe, because I saw that they were selling at prices around $18000 when the price was around $11 000.

If you can find a local from there, who can be trusted... you might be able to arrange some sort of a deal. I would split

the profit 50/50 if I could find such a person. {close to impossible} ... Just imagine buying at $11 000 and then selling at

$18 000. {+/- $7000 profit per coin} -- You split that 50/50 and the guy gets $3500 profit on every coin. The risk is huge,

but the reward is even bigger. You have to leave room for trading fees and finding a way to get the money back to your

country. 

This is a very interesting plan. But at the same time it is very dangerous. I believe that such deals should be concluded only with those who are in about the same situation as you. In this case, you depend on the local person, he can at any time change the terms of your agreement to his advantage or even deceive you. With such a bitcoin price, as in his country, he does not need you, in order to earn. Therefore, to implement your plan, you need a person you know, whom you can fully trust.

[ganlianshifu1]

The risk and handling charge of each exchange is different, which leads to the difference in the transaction price.

The price of each platform is the normal phenomenon of the market arbitrage cost is high, if a team use the program to run still can play.

[freesia_pnp888]

I agree with others, it must be in Zimb, they have huge inflation there so maybe the price is affected too

[pekavcilar01]

At one point I also investigated the arbitrage phenomenon. Arbitrage makes sense when prices go up. Crypto coins of different value in each country. In my country there is a difference between normal price of 100 - 200 dollars. When the prices go up, they increase the difference. The stock market sites in the countries also make incredible money.When arbitrajing you need to be careful do not arbitrage when prices are falling. You'd be harmed.

[anilsaini0327]

Due to different regulations & monetary policies in different countries we see difference in prices of bitcoin. People try to arbitrage but mostly the arbitrage opportunity is disguised. In hope of making profit you end up making loss as crypto prices changes every second.