Jump to content

Better prices on Korean exchanges. Are there any disadvantages to using them?


tomsteve
 Share

Recommended Posts

I'm based in the EU and I've noticed that some of the big exchanges in Korea (such as Bitthumb and Coinone) have much better exchange rates than EU-based exchanges like Bitstamp (currently the equivalent of $3.10 vs $2.45 per XRP between the Bitthumb[Korea] and Bitstamp[Luxembourg]).

Apart from the 2nd currency exchange (from Korean Won to Euro/USD), are there any other disadvantages to using a Korean exchange (with better rates) instead of a European one? Would there be any additional taxes in this case?

Link to comment
Share on other sites

  • Replies 3
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

8 minutes ago, tomsteve said:

I'm based in the EU and I've noticed that some of the big exchanges in Korea (such as Bitthumb and Coinone) have much better exchange rates than EU-based exchanges like Bitstamp (currently the equivalent of $3.10 vs $2.45 per XRP between the Bitthumb[Korea] and Bitstamp[Luxembourg]).

Apart from the 2nd currency exchange (from Korean Won to Euro/USD), are there any other disadvantages to using a Korean exchange (with better rates) instead of a European one? Would there be any additional taxes in this case?

It’s not that easy to open exchange accounts there.  I know bithumb requires a Korean phone number verification.

Link to comment
Share on other sites

You won't be able to open an account there, nor get your money out. The Korean market is like a secondary market at this stage. 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.