Topic: Big difference in BTC price in local market ? - page 2. (Read 1002 times)
the difference is sure to remain, the condition of each market has different capabilities with their respective volumes. for now this weakness is made a gap for traders who want to get more results by playing in some local and outside markets. surely this gives him an advantage over because he sees the gap that gives him the advantage.
You don't expect to compare local market traders with the global market because not only are the participants double but the infrastructure put in place coupled with the volume and capacity of traders is something that cannot be compared. I won't want to trade $50,000 and do it in a local exchange because it would mean I will have to show a video proof of my address and my bank notified of such activities while its just a small amount of money in a global market place where I get to do some minimal KYCs.
That was almost nothing my friend, because if you would recall last year, the btc in Zimbabwe was twice the price of btc in poloniex... what you can do right now is enjoy the arbitrage. You should know what am sayin my friend.
It is obvious that there will be difference in BTC price between local market and international market. To earn an exact anount of money people will surely use these differences.
I have seen many times that in local market BTC price are quite change from international market. Once the price of BTC in Indian market (Zebpay)used to be 2-3 lacks more than the price in bitfinnix. But todayBTC price in Indian price is 1 lack less than the price in bitfinnix , which is big ammount in terms of percentage.
The exchange always difference about price. A lot of people will use the difference between the international market to earn a certain amount of money.
They buy on this floor, sell on the other floor.
The reason for the price differences are fees for transferring between the bitcoin exchanges (you have to transfer both, bitcoins and fiat currency for a complete cycle) and fees for trading bitcoins against fiat currencies.
In my viewpoint that due to geographical and banking limitations, to buy Bitcoins from a vendor in any country, you must have a bank account and an ID in that country. For instance, since Indians cannot buy Bitcoins from Coinbase, they are stuck buying from local vendors. Therefore, the prices of the local vendors are irrespective of the international vendors. The vendors know that their buyers cannot buy from vendors outside of the country. That’s why, until international vendors start trading in a country like India, the prices can be higher or lower than the global rates.
People will full charge what they think they can get.The possibility to buy from a local source to worth the extra fees. It's not choice those services where you can buy BTC with your personal credit card, but you will pay a pretty premium for that convenience.
Yes, it is true that in Indian market prices are 5 to 10% more than that of the international market. However, if you are trying to buy Bitcoins from the international market using your Indian debit card or credit card then you will have to pay a certain amount in the form of forex charges, forex rate fluctuation, taxes, bank fees etc and these charges are usually between 5 to 10% so at the end of the day you have to pay the same amount as compared to the amount that you pay in Indian market.
I dont know but i have read a topic wayback that in some local market bitcoin is much lower price th international market,injust cant remember since i forgot to bookmark that
But now this saying about in India is more higher than international market,even what is true this only mean one thing,prices are different from local to international
Crypto currency is very popular nowadays many of the companies also opening their own crypto based on this yes there can be difference between international market and local market but its kind of same because price of international market vary. So please do not expect from here that you will get proper amount.
The level of trade of crypto currency does vary and they are treated differently from international market as opposed to the domestic market. This actually depends on the supple as well as the demand on each of these exchanges. Various exchanges offer various prices. Compare the prices with other exchanges to get a clearer picture.
Yes the difference is big here in indonesia its higher almost more than 100-200. I think someone could buy eth by dollar and sell it on this market it would be great easy money for them.
I have seen many times that in local market BTC price are quite change from international market. Once the price of BTC in Indian market (Zebpay)used to be 2-3 lacks more than the price in bitfinnix. But todayBTC price in Indian price is 1 lack less than the price in bitfinnix , which is big ammount in terms of percentage.
if you can see the arbitrage opportunity, then don't share that on this forum but go to take an advantage of it on your own. You can surely make good money out of it
It might happen for some reasons. The charge for the transactions are one of the main reasons. Charge in local market may not be same as international market. However, demand and supply difference also causes the difference.
Always have different bitcoin price between local and and international market, have about 100$ until 200$ of different price between bitcoin on local excange market and international market. I have seen it on last years when bitcoin was grow up and have more different price between local and international market, its good to take moment to buy on international market and sell on local exchange market, we can take profit more than $200 in once transaction every time. But we have trouble to make deposit on international exchange market.
Imagine a market where two apple vendors are selling apples. Each of them has their own reserves of apples and their own demand in the market. Let’s say both vendors have an inventory of 100 apples but 100 people are waiting in queue to buy from the first vendor and only 30 people are waiting in queue to buy from the second vendor, the first vendor can sell at a higher price. In such a scenario, the 100 people in the queue for the first vendor will eventually get to know about the second vendor in the market and instead of waiting in the line, some will move to the second vendor to buy apples. With this increase in the demand, the second vendor will increase the prices and eventually the businesses of the two vendors will come to an equilibrium. That's maybe similar to Bitcoin's price in different areas.
That's called premium look at local bitcoins of all countries and you'll see each one has different price, that's calculated on demand and supply based on the country landscape and its popularity, then the exchanges even add their own markup hence it rises, but at this time I don't think it'll be much high cause the prices have already fallen.
I think in certain parts of the world, Bitcoins are generally bought from a Bitcoin vendor, instead of peer-to-peer exchanges. P2P exchanges take place on a platform where buyers are matched with sellers. The platform then gets a small commission fee for making that match happen. A vendor, however, is a business that holds a large reserve of Bitcoins and a large reserve of cash. A buyer can buy Bitcoins for cash at the predetermined prices the vendor has set.
I came to know that fact recently and this is really frustrating. I want the related people to do something to make the amount equal. Else this is really unfair to the local traders. We want the same price every where.
I don't think you're gonna get the same prices everywhere because even among conventional fiat currencies there are black markets and the Forex exchanges but these guys quote separate figures and their prices are never the same so don't expect equality here.
I came to know that fact recently and this is really frustrating. I want the related people to do something to make the amount equal. Else this is really unfair to the local traders. We want the same price every where.
Jump to: