What is the price difference between buying and selling Bitcoin at home and abroad? What is the price difference between buying and selling Bitcoin at home and abroad?-web3.0-php.cn

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

Mar 15, 2024 am 09:46 AM

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

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

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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