Topic: Too much price difference in Google search vs actual Indian exchange - page 2. (Read 4082 times)
June 06, 2017, 09:53:03 PM
Currently FEMA limit is $250,000 per year per person in India
May 28, 2017, 11:33:20 AM
dude this fema thing is for outward remittance right? the limits is for if you wire your funds in usd/eur right? this doesnt count in for debit/credit pos transactions.
lol, if you don't know anything then don't post unsubstantial post. FEMA applicable when you send fund from India to outside, doesn't matter how you send.
There is limit for individual for sending fund outside India.
May 28, 2017, 03:33:12 AM
dude this fema thing is for outward remittance right? the limits is for if you wire your funds in usd/eur right? this doesnt count in for debit/credit pos transactions.
May 26, 2017, 11:41:27 PM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC
You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]
You can buy from bitlish.com(KYC to be submitted) through credit card.
Current price - 2345$
Fee-4%+0.25$=~95$
Now Convert it to INR=2440x65=158600
Plus Foreign conversion markup fee+tax on CC=4.1% =165103
Current price on coinsecure 189000
Profit-->189000-165103=23897(in one day)
I have not included exchange fee and bitcoin transfer fee
If you do this method often you will come under FEMA act of Indian Govt.
There is a limit of 10L or 50L per year for credit cards under FEMA act,not much sure about this..
Very good suggestion will try this out , seems like BITLISH owner VIP of bitcointalk .
https://bitcointalksearch.org/topic/bitlish-lowest-visa-and-mastercard-fees-in-the-world-1272613
May 26, 2017, 10:44:24 AM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC
You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]
You can buy from bitlish.com(KYC to be submitted) through credit card.
Current price - 2345$
Fee-4%+0.25$=~95$
Now Convert it to INR=2440x65=158600
Plus Foreign conversion markup fee+tax on CC=4.1% =165103
Current price on coinsecure 189000
Profit-->189000-165103=23897(in one day)
I have not included exchange fee and bitcoin transfer fee
If you do this method often you will come under FEMA act of Indian Govt.
There is a limit of 10L or 50L per year for credit cards under FEMA act,not much sure about this..
If there is limitation then only couple of transaction can be done else it would be a huge problem if you break FEMA rules. So then how are other doing it? Is it only couple of transaction people are doing in a year through this way or is there any other way where you do not fall under FEMA?
There is no such option to buy BTC outside India, the only thing we can do is get BTC through friends or relatives living outside India and convert the BTC received to INR.So it won't fall under FEMA but will come under Income Tax laws.
If we buy it from friends / relatives living in US/UK & sell it here in India, then won't it come under FEMA?
No, FEMA is only when you do show up transactions using your debit/credit card using online purchase through foreign currency like USD/EUR etc., If you get through friends and show up tax for it then it is totally safe.
May 26, 2017, 10:36:55 AM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC
You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]
You can buy from bitlish.com(KYC to be submitted) through credit card.
Current price - 2345$
Fee-4%+0.25$=~95$
Now Convert it to INR=2440x65=158600
Plus Foreign conversion markup fee+tax on CC=4.1% =165103
Current price on coinsecure 189000
Profit-->189000-165103=23897(in one day)
I have not included exchange fee and bitcoin transfer fee
If you do this method often you will come under FEMA act of Indian Govt.
There is a limit of 10L or 50L per year for credit cards under FEMA act,not much sure about this..
If there is limitation then only couple of transaction can be done else it would be a huge problem if you break FEMA rules. So then how are other doing it? Is it only couple of transaction people are doing in a year through this way or is there any other way where you do not fall under FEMA?
There is no such option to buy BTC outside India, the only thing we can do is get BTC through friends or relatives living outside India and convert the BTC received to INR.So it won't fall under FEMA but will come under Income Tax laws.
If we buy it from friends / relatives living in US/UK & sell it here in India, then won't it come under FEMA?
May 26, 2017, 10:30:49 AM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC
You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]
You can buy from bitlish.com(KYC to be submitted) through credit card.
Current price - 2345$
Fee-4%+0.25$=~95$
Now Convert it to INR=2440x65=158600
Plus Foreign conversion markup fee+tax on CC=4.1% =165103
Current price on coinsecure 189000
Profit-->189000-165103=23897(in one day)
I have not included exchange fee and bitcoin transfer fee
If you do this method often you will come under FEMA act of Indian Govt.
There is a limit of 10L or 50L per year for credit cards under FEMA act,not much sure about this..
If there is limitation then only couple of transaction can be done else it would be a huge problem if you break FEMA rules. So then how are other doing it? Is it only couple of transaction people are doing in a year through this way or is there any other way where you do not fall under FEMA?
There is no such option to buy BTC outside India, the only thing we can do is get BTC through friends or relatives living outside India and convert the BTC received to INR.So it won't fall under FEMA but will come under Income Tax laws.
May 26, 2017, 10:28:07 AM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC
You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]
You can buy from bitlish.com(KYC to be submitted) through credit card.
Current price - 2345$
Fee-4%+0.25$=~95$
Now Convert it to INR=2440x65=158600
Plus Foreign conversion markup fee+tax on CC=4.1% =165103
Current price on coinsecure 189000
Profit-->189000-165103=23897(in one day)
I have not included exchange fee and bitcoin transfer fee
If you do this method often you will come under FEMA act of Indian Govt.
There is a limit of 10L or 50L per year for credit cards under FEMA act,not much sure about this..
If there is limitation then only couple of transaction can be done else it would be a huge problem if you break FEMA rules. So then how are other doing it? Is it only couple of transaction people are doing in a year through this way or is there any other way where you do not fall under FEMA?
May 26, 2017, 09:24:00 AM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC
You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]
You can buy from bitlish.com(KYC to be submitted) through credit card.
Current price - 2345$
Fee-4%+0.25$=~95$
Now Convert it to INR=2440x65=158600
Plus Foreign conversion markup fee+tax on CC=4.1% =165103
Current price on coinsecure 189000
Profit-->189000-165103=23897(in one day)
I have not included exchange fee and bitcoin transfer fee
If you do this method often you will come under FEMA act of Indian Govt.
There is a limit of 10L or 50L per year for credit cards under FEMA act,not much sure about this..
May 26, 2017, 05:45:48 AM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC
You can buy if you have Moneypolo Verified account . Add funds via Credit / Debit card and then withdraw as BTC-E Code or withdraw to OKPAY then get bitcoin [ Total process can get you 6 - 8% fees ]
May 26, 2017, 01:56:06 AM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC
You can try to buy with localbitcoins exchange where you can get through direct local users who are selling for bitcoins for lot of other payment options
May 26, 2017, 12:01:11 AM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
Coinsecure price always been way much lower then compared of unocoin and zebpay. Can anyone suggest me any foreign exchange from where I can buy BTC
May 25, 2017, 11:02:50 PM
True. Everyone in India is selling at a premium. Too much greed?
If it was only user-to-user exchange rate (coinsecure) which was at premium rates, i would call it greed.
But the direct buy (unocoin) prices are also at same level. This much difference cannot be attributed only to currrency conversion charges, right?
May 25, 2017, 04:40:30 PM
True. Everyone in India is selling at a premium. Too much greed?
May 25, 2017, 01:58:43 AM
I know this is an old topic, but just wow... the price difference is now unbelievably high.
Bitstamp price is $2635; even at $ 1 = INR 70, it comes to 184450. But the indian exchange prices are all above 220000.
Bitstamp price is $2635; even at $ 1 = INR 70, it comes to 184450. But the indian exchange prices are all above 220000.
December 08, 2016, 06:08:52 AM
Yes, there will be the difference between Indian exchanges and International exchanges, and I see the following reason.
Currency Exchange – There are fees to convert USD to INR and ultimately it costs same if you try to buy from International markets, and thus I think the prices are more on Indian exchanges.
Buyers Will - The customers are willing to pay the excess amount, and thus sellers are selling at higher price. Sellers are offering more than one option for payment, and hence they charge more for service.
Currency Exchange – There are fees to convert USD to INR and ultimately it costs same if you try to buy from International markets, and thus I think the prices are more on Indian exchanges.
Buyers Will - The customers are willing to pay the excess amount, and thus sellers are selling at higher price. Sellers are offering more than one option for payment, and hence they charge more for service.
December 07, 2016, 11:52:21 PM
Suddenly all the of the sites prices have dropped together and now selling less than 60k. Till ystd all were above 60k+ where bitcoin was 728 around. Today its has gone up to 732 and all exchanges gone down together almost 
.
.Price dropping in alll site becoz arbitrager like me trading in diff site and earning arbing differences. It's normal when 1 site have higher price and other lower price.
Just wondering how come all sites/exchanges generally if go up is almost together and if price drops its near by the same drop. It looks like either you control the exchanges and site or mostly 1 big player is controlling exchanges/site.
Then you don't know what and how arbitrager work in world. It's normal everywhere till when they will get risk free money they will buy in cheaper site and sell in costlier site. It's very easy at the end mostly becoz of arbitrager price in all site remain in minimum gap otherwise there will be huge gap everywhere.
December 07, 2016, 11:15:55 AM
Apparently its just coz of the demand and competition. I was selling bitcoins to a trader above the actual btc price(which is kinda strange as it hardly ever happens on localbitcoins) but he was happy to buy. When I asked him why r u giving such good rates? He told me its because of the demand.
November 29, 2016, 08:56:53 AM
That's the reason I prefer buying at international exchanges and selling at Indian exchanges due to the rate difference.
How do I, as an Indian, buy bitcoins from international exchange? I dont think its feasible and possible as easily if you want to buy from International market as there are various procedures that yu need to get cleared from banks etc. Also it takes days and not instant. If there are any experts or who know who can individual from Indian bank account trade international kindly throw some light?
There is only one easy way to do that and that is Moneypolo
, Great service and provides VISA Card to Indians and also you can upload funds via your VISA/MASTER Debit card to it and generate BTC-E Code from your balance . To do all this you have to go through a hell tough verification by Moneypolo .. I warn you before this if you taking this into consideration ... A serious tough verification process they have . I am now Level 2 Verified customer of Moneypolo and i am quite happy cause now i can easily buy from BTC-E instantly with 5% all total fees and sell to any Indian exchange and make handsome profit . Upload money to Moneypolo via card charges 4% and when you generate BTC-E code with your moneypolo balance another 1.25% so total 5.25% and 2.5 currency conversion rate ( currenty 71.25 INR per $ ) , Moneypolo legal and registered with FCA . Most amazing thing you can withdraw bitcoin to your ATM with their VISA Card [ 15$ cost per card takes 20 - 25 days to reach for Indians ] By the above calculation effective USD rate is 75 USD/INR
BTC @ 730 USD/BTC
translates to 54750 INR/BTC
no arbitrage opportunity at this rate
Not now .. it was sweet when price was 60k+ .. i got price of 71INR per dollar and 5.25% addition to cost of purchase from BTC-e ... so yes enjoyed a lot during those days .
November 29, 2016, 07:38:27 AM
Suddenly all the of the sites prices have dropped together and now selling less than 60k. Till ystd all were above 60k+ where bitcoin was 728 around. Today its has gone up to 732 and all exchanges gone down together almost .
.Price dropping in alll site becoz arbitrager like me trading in diff site and earning arbing differences. It's normal when 1 site have higher price and other lower price.
Just wondering how come all sites/exchanges generally if go up is almost together and if price drops its near by the same drop. It looks like either you control the exchanges and site or mostly 1 big player is controlling exchanges/site.
Then you don't know what and how arbitrager work in world. It's normal everywhere till when they will get risk free money they will buy in cheaper site and sell in costlier site. It's very easy at the end mostly becoz of arbitrager price in all site remain in minimum gap otherwise there will be huge gap everywhere.
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