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

[tomsteve]

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?

[Phintech]

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.

[Guest]

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. 

[tomsteve]

Thanks for letting me know!

Would you know if it's the same situation for Indian exchanges? I've noticed that Koinex has better-than-average rates as well.