Best place to buy Bitcoin in India at exchange rate?

Bitcoin Questions and AnswersCategory: General questionsBest place to buy Bitcoin in India at exchange rate?

Jimmy asked 7 months ago

Hi Team,
Thanks for this awesome website, really phenominal amount of quality information on Bitcoin.
I am from India and here Bitcoins are sold at a premium of 30% then that of market price so if Bitcoin is hovering around $15,000 then in India sellers sold it at$19,000 or maybe 20k at times.
Can you please help me in finding…where I can buy Bitcoin at current market rate, of course 5 to 7% premium is ok but I haven’t find any of them as well. I’ve been searching it from past 3 weeks rigorously, but I haven’t found any, please let me know if you can help me in this.

Thanks,
Jim

1 Answers
Steven Hay answered 7 months ago

Hi Jim,
 
Well, if that’s the price in India, then that’s the price in India. It’s the same in several other countries, although 30% is very high.
 
This is of course bad for you if you want to buy Bitcoin but it’s very good if you wish to sell Bitcoin… Are there goods or services which you could offer internationally for Bitcoin? Then you could sell 30% of the Bitcoin you own to make INR while still holding the remaining 70% BTC.
 
If that is not feasible, you will have to look at methods of moving money overseas to foreign Bitcoin exchanges. This will likely incur a cost but probably below 30%.
 
If you’re interested in profiting from this big pricing difference between India and other countries, I have a trading group exploring such opportunities. You’re welcome to contact me at [email protected] for the invite link to our group.

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