Post
Topic
Board Bitcoin Discussion
Re: Why is the price of BTC (and any other crypto) always higher in Asian countries?
by
mezzaluna
on 28/09/2020, 14:25:16 UTC
Its consistently higher that what the normal currency exchange rate would suggest in Asian countries.

For example if you multiply the USD rate of 1 BTC with the CNY rate, its 1 BTC = CNY 73,600, but exchanges there have it around CNY 75,500.

In other countries in Asia and South America also BTC is more expensive to buy in non-USD currencies than in USD.

Why is this the case?

Its surely based on the economic status of the country and sometimes those rates are lowered so that people that render that service can gain profit. Its not easy for them to handle that business since most of their income will come from Cryptocurrency.