Crypto arbitrage between indian and international exchanges

[KaranM]

Crypto sells at a 4 to 5 percent premium in india..ive been trying to find‌ a way to buy crypto on international exchnages and sell it on local exchnages or‍ p2p..

I know its not easy otherwise premium wouldnt exist but im sure some people⁠ are doing this..

Can you suggest me the Best possible option ?

 

[Dipo]

Why is it selling for so much? Restrictions? What is stopping you from doing it‌ yourself?

 

[Work Bitch]

I’m living in a country also having crypto premium. I use Binance and Bank account‌ in Europe with EUR.

 

[Fothermucker]

If your local indian bank allows third party payments to your personal bank account you‌ can trade crypto for payments via bank transfers.

Alternatively, buyers can send you cash by‍ post for crypto. But I don't know how realiable the postal system is in India.⁠

 

[KaranM]

There may be several reasons for this premium...

Resident individuals can only transfer 250000 usd per financial year abroad ...these money can only be‍ used for specific purposes....and after 10000 usd a 5 percent gst is levied.....

I am⁠ not familier with the company laws here..

 

[KaranM]

I am glad you are able‍ to talk advantage of this price discrepancy..

An indian can not even hold a bank⁠ account abroad unless specific reasons like studying abroad.

 

[Work Bitch]

You can get a dukascopy account for example or you can⁠ send money to Karaken with SWIFT.

 

[Work Bitch]

Kraken
i mean i mistyped

 

[KaranM]

I have heard the name of this bank...how‍ it can help in this situation?

 

[Work Bitch]

You should send money to Dukascopy and use their zbx.one. Or‍ you can use kraken and send with SWIFT to them.

 

[KaranM]

Understood...i will check that‍ out.
Thanks for the update

 

[Cryptobabaji]

looks for exchanges which has both inr and eur, where you can send in money‌ there and buy in eur and sell in inr

 

[KaranM]

There is an exchange on which i can deposit euro,gbp, usd and then sell crypto in‍ P2p for inr ....are you talking about that...or you are talking about a diffrent exchnages....and⁠ how do i deposit in euro...?

 

[geyolak937]

Does Dukascopy give you‍ a USD account or CHF, and what are the fees to deposit from Payoneer for⁠ example?

 

[Work Bitch]

You can make USD, CHF,‍ EUR and other currencies.
For SEPA deposit afaik it is free.

 

[geyolak937]

They take 2% even for SEPA now, I tried‍ to withdraw to Dukascopy EUR but they take 2%

 

[Work Bitch]

I didn’t know coz due to low‍ limit i cannot use them for long time. (On this quarter)

 

[geyolak937]

Do you have any good alternatives, I'm‍ planning to use the money to buy crypto

 

[Work Bitch]

I used Wise and they blocked me after 3 transactions‍ about 800 EUR each. So now i’m on Dutch bank and moving 80K a mont⁠ without problem.

 

[sameersmoa]

@luta, which bank are you using currently, please tell?