Buying and selling Bitcoin in different currencies

Yahoo kFBn78
Dec 15, 2017 9 Comments

I noticed that the price difference in Bitcoin on gdax vs some of indian exchange is more than 20%. What's stopping us to buy in USD, transfer to an Indian exchange and cashing out.
repeat infinity.

I am sure no one here would be well equipped to answer FEMA and money laundering guidelines but hey india doesn't yet have a policy on how to tax Bitcoin

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TOP 9 Comments
  • New / Mktg
    BeKind2You

    New Mktg

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    I've worked in advertising for the last 16 years on global brands and digital campaigns. Now I run a small digital production team.
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    there are many challenges with arbitrage chief among them is the extreme volatility of the asset and the often very long time waiting for money to transfer / clear between exchanges. The volatility will often turn a winning trade into a losing one.
    Dec 15, 2017 0
  • Intel ScareCrow
    Indian exchanges 😂😂😂😂😂
    Dec 15, 2017 0
  • Intel ScareCrow
    Cryptos are speculations.. using Indian exchanges is speculation on speculation...the govt have no freaking clue there ..
    Dec 15, 2017 0
  • Facebook KurisuM
    https://zebpay.zendesk.com/hc/en-us/articles/115004219545-What-are-the-taxes-on-buying-selling-bitcoins-

    If I understand correctly, there is an 18.2% fee on buying/selling bitcoin. Discounting that, the prices are much closer (buying on coinbase and selling on zebpay will actually result in a loss of ~$600/coin).

    If it sounds too good to be true, it usually is.
    Dec 15, 2017 1
    • Yahoo / Eng vitamin-d
      Gst is the "goods and services tax" which is only applicable on the 0.2% of the fee .. so it's not 18.2% rather .236%
      Dec 15, 2017
  • T-Mobile trpn73
    Which Indian exchange are you referring to?
    Dec 15, 2017 1
    • Yahoo kFBn78
      OP
      There are a lot of them .. zebpay was the one I was looking at where the equivalent Bitcoin rate is 21000USD
      Dec 15, 2017
  • GoFundMe / Eng slyslacker
    There's a term for this, it's called Arbitrage. The challenge is that you would need to have bank accounts in both countries (Indian exchanges almost certainly won't cash out to US accounts) and an easy way to transfer currency quickly between the two accounts. You're then also going to need to know what the tax situation is in both countries.
    Dec 15, 2017 1
    • Yahoo kFBn78
      OP
      I have accounts in both counties with easy transfer options ..( Non resident indian )
      Dec 15, 2017

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