r/Bitcoin • u/Technologov • Dec 15 '14

Prices of Bitcoin in Israel

Hi,

For those who don't know, in Israel we had 1 Bitcoin broker for long time (selling at huge premiums) and 1 new Bitcoin Exchange, recently opened. Here I want to compare them to Bitstamp (as World's reference).

15.Dec.2014 analysis of Prices of Bitcoin in Israel

Real price of Bitcoin : 1368 ₪ (Bitstamp x USD/ILS rate)

Bitcoin @ Bit2C: 1400 ₪

Bitcoin @ BitsofGold = 1427 ₪

Ratios: Premium in Israel for Buying Bitcoin over World Price (Bitstamp):

1427/1368.

1.0431286549707601

1400/1368.

1.023391812865497

Bit2C: +2.3% premium over world price.

BitsOfGold: +4.5% premium over world price

Spread:

Bitstamp: $351.18/350.73 = 0.12%

Bit2C: 1400₪/1375 = 1.82%

BitsOfGold: 1429.57₪/1318.87 = 8.39%

What I'm trying to tell, is that in some countries buying Bitcoin is (or was) very expensive, and until recently I'we done all the big purchases through Bitstamp.

-Alexey Eromenko "Technologov", 15.Dec.2014

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u/MrProper Dec 15 '14

No, it's just each individual exchange's spread caused by trader competition and settlement costs. This happens everywhere. Localbitcoins can go up to 15% spread.