Is it possible to arbitrage the $1,176 USD Bitcoin price difference between US and Indian exchanges?
You can currently buy a bitcoin on a US exchange for $9,718, while in Indian exchanges you can sell them for ₹ 702,686 = $10,895. So before foreign exchange fees, you could be netting a profit of $1,176 per Bitcoin. I'm in the US, and can buy bitcoins here instantly. However I don't have an Indian bank account, so I can't transfer the rupees back to my US bank account. Is it possible for someone from outside of the country to open an Indian bank account?
Selling Bitcoin creates a downward pressure on price. Using it to buy keeps the value within its ecosystem, since an item is exchanged in equal value. If anything using it creates utility and ultimately helps value. Big difference between selling and using.
[uncensored-r/Bitcoin] Why are there such large price differences between exchanges?
The following post by spanky12493 is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7g9a2a The original post's content was as follows:
there is an over 1k difference between bithump and gdax. Is there some large barrier to arbitrage that causes this price difference to exist?
So the price differences between exchanges are due to these exchange-specific attributes working in either the buyer's or seller's favor. For instance, because BTC-E provides domestic cash out methods with banks that Mt. Gox doesn't support, sellers in that country (Russia) may be willing to sell at a lower price than at Mt. Gox. The Difference Between Bitcoin and Electronic Money. By. Richard Kastelein - 29 May 2020. 219. Bitcoin has the largest market share among virtual currencies, and is already being used on a daily basis overseas. Since it is a virtual currency, there are no bills or coins in reality, but it is possible to buy and sell products using smartphones, PCs, etc. Since there are many advantages such as ... A bitcoin wallet's main purpose is to allow you to store your bitcoin and use them, by receiving and emitting transactions. It won't directly allow you to exchange your bitcoin for something else, but it will provide you with a wallet you can use ... Bitcoin is like virtual cash, so there can be an exchange between Bitcoin or Bitcoin can be exchanged as currencies through various Bitcoin trading agencies like CFD Trader. Bitcoin prices vary depending on the exchange they're trading on. For instance, as of 10:50 a.m. ET on Tuesday, Bitcoin was trading on these exchanges at the following price points:
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