Until the beginning of 2018 at cryptomeria South Korea and Japan it was possible to sell Bitcoin at a higher price than other trading platforms. At the end of 2017, when the cryptocurrency was trading in the region of 20 thousand dollars on U.S. exchanges, in South Korea bought it for 22 thousand dollars. Local regulators have taken steps to eliminate the margin. However, in some places, BTC is still trading more expensive.
Where the demand for Bitcoin above?
In Hong Kong buying BTC per USDT in OTC transaction will cost at least 2 percent more expensive than other exchanges. The fact is that the local marketplace stablon USDT is trading around the 1.02 dollar, that is, to spread you need 2 percent more money. All due to the sharp relationship of the Central Bank of China to cryptocurrencies, which, by the way, in practice it may be not so severe.
Read on: What is OTC trading and why is it needed?
In South Korea and Japan the difference with the American market not as big as it was before. In these countries, the margin on the Bitcoin to not exceed 0.2 per cent, not so much. We will remind, earlier in South Korea were prohibited to deal with the crypt for foreigners. Some time later, the restriction was removed, which led to a drop in margins.
In Malaysia, the Philippines and Thailand, the margin on the crypt may reach 3 percent. But in Chile and Brazil the difference with American stock exchanges reaches only one percent. Here, the demand for bitcoins is not so great among local investors.
By the way, Bitcoin can and is 20 percent more expensive, if you are going to acquire a stake in the Bitcoin Investment Trust. Each share of the trust equal to 1/1000 of the cost of one bitcoin. Now the shares of GBTC 9.83 sold for a dollar, that is the real value of cryptocurrencies in the trust reaches almost 10 thousand dollars.
In General, the situation with exchange rates of Bitcoin in the global market fairly smooth. Thus you can earn without a huge difference in rates. For this we recommend you read the series of articles "trading for beginners" and get to know the basic concepts in trading crypt. Most likely, then the situation in the cryptocurrency market will be more clear.
Even more interesting can be found in our cryptodata millionaires. And don’t forget about our Yandex Zen.
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