Making Money With Bitcoins !!

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TylerSplash

TylerSplash

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Hello People , you all must know about Arbitrage and If you don't It's simple , arbitrage is the practice of taking advantage of a price difference between two or more markets . So You can do this with bitcoins , Let me explain you how . The current Price of Bitcoins in USD is $13.3k and in EUR is €11,490 which equals to $13.8k that means $500 profit but that is quite low . You can earn highest by this method if you buy in USD and sell in INR and I know that cause I am doing it and Here are stats :
Current Price of Bitcoin in USD : $ 13,418 = ₹ 8,56,611
Current Price of Bitcoin in INR : ₹ 1,120,184 = $ 17,542
Profit : $ 4124 = ₹ 263,278
After removing all fees like withdrawal and sending fees you can still make around much money , For me the current total fees is around $500 so I still make around $3500 from this method per bitcoin .
Hope It will help you all make some money !!
 
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TylerSplash said:
Hello People , you all must know about Arbitrage and If you don't It's simple , arbitrage is the practice of taking advantage of a price difference between two or more markets . So You can do this with bitcoins , Let me explain you how . The current Price of Bitcoins in USD is $13.3k and in EUR is €11,490 which equals to $13.8k that means $500 profit but that is quite low . You can earn highest by this method if you buy in USD and sell in INR and I know that cause I am doing it and Here are stats :
Current Price of Bitcoin in USD : $ 13,418 = ₹ 8,56,611
Current Price of Bitcoin in INR : ₹ 1,120,184 = $ 17,542
Profit : $ 4124 = ₹ 263,278
After removing all fees like withdrawal and sending fees you can still make around much money , For me the current total fees is around $500 so I still make around $3500 from this method per bitcoin .
Hope It will help you all make some money !!
Click to expand...
Could you just simplifiy it?
Ok, Imagine I have 1 BTC which equals
623cfe58-65f2-4ecd-b0bb-aefeff29323c.png

According to Google, at the time I am writing this post.
Now 1 BTC in INR
7542ac5d-6a2e-4b79-8a4b-855aee5de9fa.png

Then that many dollars in rupees,
ef176c6a-a055-4c30-84d4-8090d19a4d58.png

So my profit is INR 1 approx.
 
Super Panda said:
Could you just simplifiy it?
Ok, Imagine I have 1 BTC which equals
623cfe58-65f2-4ecd-b0bb-aefeff29323c.png

According to Google, at the time I am writing this post.
Now 1 BTC in INR
7542ac5d-6a2e-4b79-8a4b-855aee5de9fa.png

Then that many dollars in rupees,
ef176c6a-a055-4c30-84d4-8090d19a4d58.png

So my profit is INR 1 approx.
Click to expand...

Don't go with google. check indian exchange sites like koinex, zebpay, unocoin rates.
 
Super Panda said:
Could you just simplifiy it?
Ok, Imagine I have 1 BTC which equals
623cfe58-65f2-4ecd-b0bb-aefeff29323c.png

According to Google, at the time I am writing this post.
Now 1 BTC in INR
7542ac5d-6a2e-4b79-8a4b-855aee5de9fa.png

Then that many dollars in rupees,
ef176c6a-a055-4c30-84d4-8090d19a4d58.png

So my profit is INR 1 approx.
Click to expand...
Lol , Don't do that Google Doesn't shows the current price of bitcoin in INR is just converts the price of bitcoin in USD To INR Go here and check stats : http://www.worldcoinindex.com

TechEinstien said:
Don't go with google. check indian exchange sites like koinex, zebpay, unocoin rates.
Click to expand...
Yeah That's the way !
 
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Definitely doable. Do the indian exchanges allow you to cash out your $$$?
 
Which exchange are you using to buy from US and how do you manage the verification process?
 
nikhil79 said:
Which exchange are you using to buy from US and how do you manage the verification process?
Click to expand...
I am not buying from US , My friend buys me from US via Gemini and I sell it in India !
 
Definitely worth a try.. Let me try this method. But have to take extra care regarding Taxation of those.
 
Indian exchanges are heavily monitored by government and income tax. Hope you pay your other taxes . Else I have to see you in future newspaper headlines :D:D:D:D
 
kohli cool said:
Indian exchanges are heavily monitored by government and income tax. Hope you pay your other taxes . Else I have to see you in future newspaper headlines :D:D:D:D
Click to expand...
My CA does all the work for me and I do pay all my taxes.
 
Can this be done from some online exchanges? I dont have anyone in US
 
Are there any trustworthy indian exchanges that allow US customers?
 
angelas111 said:
Are there any trustworthy indian exchanges that allow US customers?
Click to expand...

https://www.unocoin.com/ has a wallet facility where you can transfer your bitcoin but I dont know whether they accept non-indian customers coz they have this verification process where you need to submit your documents like address proof, id proof ect. You also need a indian bank where you can withdraw your money.

I am stuck on how to buy bitcoin using USD coz almost all exchanges requires wire transfer and it can take a lot of time. Can you share some tips on this one?
 
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