Quote from: ronypro on October 28, 2017, 09:01:36 AM

Quote from: tcsmate on October 28, 2017, 08:04:57 AM

Can anyone explain why do people sell at rate on this link. http://preev.com/btc/inr

Because when I checked the sell rate at 1:33pm IST 28 Oct, the sell rate was higher on zebpay, unicoin, coinsecure and almost every other site.

I can understand buyers wanting to buy at this price, but why would people sell, if they do.

You are absolutely right on this that other website do have good rates for sellers.
But on the other hand those wallets need you to verify yourself and saves your data.
Not everyone in bitcoin forum wants to reveal their own data.
And who knows some day government may apply tax on bitcoin purchase.
The negative of those websites are.
1.Your identity is revealed and they are not private wallet.
2.As all of them are PVT LTD company they are under Indian government so any day Govt may ask for audit.
And it will reveal who holds how many bitcoins straight way.
3.They charge 300-500 withdraw fees to every bitcoin withdraw process.

1. Agree with privacy issue. But as far as wallet is concerned, you can move to your private wallet from exchange.
2. True. But even if u r buying off the exchange, in this case you are not doing a cash transaction. So the debit and credit of INR entry is anyway there in bank in this case also. Generally people dont keep their investment porfolio in schanges after buying on exchanges. Its only the amount they earmark for trading that people keep in exchanges.
3. Cash Withdrawal: Nowdays, no one charges more tham 10 INR or mostly its free withdrawal. Atleast the 3-4 sites I use, thats the case.
BTC Withdawal: Ya, thats high. Except for coinsecure which allows you to use .0001 BTC, others charge between 0.0003 to 0.0005 BTC. (currently, sites review these charges from time t time based on traffic congestion. Not very frequently though.)

The reason I asked this question was to know if really sell at preev price. If yes, I could get some good arbitrage opportunity by buying from sellers who are ok to sell at preev price and then sell at exchanges. As I have done my kyc and pay tax on any profit i make in fiat.

tcsmate

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