What is the price difference between buying and selling Bitcoin at home and abroad?

As of August 2, 2023, the global Bitcoin price is approximately US$23,000, while the domestic Bitcoin price is approximately US$30,000.

The price difference between buying and selling Bitcoin at home and abroad mainly depends on the following factors:

• Transaction fees of the trading platform : Different trading platforms charge different transaction fees, which will lead to differences in Bitcoin prices.

• Market supply and demand: If the demand for Bitcoin in a certain area is large, the price of Bitcoin in that area will be higher.

• Exchange rate: Due to different currency exchange rates in different regions, this will also lead to differences in Bitcoin prices.

According to data from CoinMarketCap: https://coinmarketcap.com/, as of August 2, 2023, the global Bitcoin price was approximately US$23,000. In China, there is no open Bitcoin trading market as Bitcoin trading is prohibited. However, on some over-the-counter exchanges, the price of Bitcoin is around $30,000.

So, legally, the difference between buying and selling Bitcoin domestically and abroad is about $7,000.

The following are some specific situations:

• In the United States, Coinbase is one of the largest Bitcoin trading platforms. Coinbase’s transaction fees range from 0.5% to 4%. Therefore, the cost to buy 1 Bitcoin in the United States is approximately $23,000 0.5% * $23,000 = $23,150.

• In China, Huobi is one of the largest Bitcoin trading platforms. Huobi’s transaction fees range from 0.15% to 0.2%. However, due to China’s ban on Bitcoin trading, Huobi no longer provides services to residents within China. Therefore, Chinese investors can only purchase Bitcoin through over-the-counter trading platforms. On some over-the-counter exchanges, the price of Bitcoin is around $30,000.

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