How fast are the Withdrawals ?
There is huge difference in buy and sell which make difficult for middle investor to buy it.but if you consider by speed it is quite fast and good.kyc is fast as well.withdrawal take 12-48 hrs to the bank in my experience.
Was Zebpay also one of the exchanges where the IT department paid the visit yesterday? What was the outcome of this?
they have visited all exchanges to check if there is no illegal trading going on.as zebpay is the biggest exchange in India right now.ceo of zebpay also gave interview to some new channel.cryptocurrency is gaining momentum in india as it is quite good for digital expansion of country.
I know that crazy price difference of BUY / SELL of Indian Exchanges except CS , but hey only the fool will buy with that price hehe .. whenever i need to buy via Indian exchange i only use CS
but most time from International exchanges
, But yes i tested first withdrawal with ZebPay and they are on time , i wouldn't say fast which previously CS had but its on time as they mentioned in their site within 1 working day .
That's because Coinsecure is probably the only user-to-user exchange in India. On all other exchanges the buy/sell prices are controlled by exchanges, not users.
Hmm can be but serious ridiculous difference of Unocoin and Zebpay frankly . Do they use different exchange price chart for Buying and Selling . How can be such huge difference i don't understand in these 2 sites , specially Unocoin lol .
That is to discourage arbitrage and day trading.
Arbitrage:People would grab every chance of buying Bitcoin on any of the exchange for a little lower price and sell it on Unocoin even if the difference is very small like $100. Unocoin would have to closely monitor and update their own prices every minute to prevent this, so the easy solution is to just set the sell price way lower.
Day Trade:Since Bitcoin is very volatile, people will just keep buying / selling large quantities just to earn some profit on daily basis. This will be difficult for Unocoin because the coins are not exchanged between users directly (like Coinsecure) but it is managed by Unocoin. In such case it is difficult to predict the coin supply and cater to volume demand when necessary. Preventing day trading helps them in gaining a stable trade volume which gives them ability to predict coin supply / demand on daily basis.
TLDR: Hue difference between buy/sell prices is for discouraging arbitrage and day trading because it poses some operational challenges for exchanges which are not user-to-user order books.
