HIGH BUY PRICES on Unocoin even when international prices are DOWN

[cyphos]

Unocoin is charging really high compared to international rates.

Not good, considering they are now a funded company with funds coming in from Barry Silbert himself.

[btc_enigma]

I see high buy  prices on all exchanges in india
I am not sure how the calculation works . Seems 10% more than conversion from USD to INR

[cyphos]

Unocoin was offering good rates, but they seems to have increased there rates.

I was just hoping, that since they are now venture funded by Barry Silbert, they
will support the Bitcoin community in India by giving good rates. Not happening.

[McScrooz]

Man seriously, what on earth are they doing with all that crazzzy money they got from Barry silbert?
Blowing on booze, b00bs and hookers   !!!!!

This is India bro. Here 1 USD is converted into 63 indian ruppees.That money they got it HUUUUUGGGGE comparing it to
indian standards. They better pull there panties up & start doing some serious job.I was expecting discounts from them after
there funding but these people are charging premi ums.

[polynesia]

Isn't it just a trading site?
With low trade volumes/liquidity, I wouldn't be surprised if the spread was huge.

[dashingriddler]

Hello,
Unocoin is a trading service and is not tied up to any international exchange to be able to offer at par prices. It is difficult for any Indian trading platform to do this at high volumes without bypassing capital controls.

The algorithm Unocoin uses to determine prices also needs inputs of buying and selling patterns of users since few days, and also the availability of our stock.

As of today, if you just compare the prices, then you would be a lot better off (by more than 2%) if you sell your bitcoins on Unocoin. You get the premimum of this 2% to your hands and this premium is after the transaction fee Unocoin collects when you sell bitcoins.