Why there is a huge amount of difference in price for the same coin at same time?

Question

Well, I am new to this world and trying to understand things. The main thing where I got stuck is, I realise that the same currency has different values in different places.

And in here for Ripple in India[![][2]][2]

And for bitcoins Premier Bitcoin Exchange in India

I just want to understand why such discrepancy. Any type of guide will be welcomed.

Thanks in advance

FYI : I live in India

Answer 1

Discrepancies in exchange rates can arise from many things, such as:

• how often the exchange rates are recalculated or cached by the website
• where the website gets the data from (e.g. there are a lot of different exchange platforms, the live price varies a bit between them all)
• how the rate is calculated (most exchanges only support BTC/USD as fiat currency price, so any other fiat currency like Rupee or Ripple coin must be calculated using multiple conversion steps (e.g. ripple -> bitcoin -> USD -> Rupee)

Also, if you are using a website like zebpay, they set the rate themselves to include a fee, because they want to make a profit, so you can expect that rate to always be higher than the price listed on something like coinmarketcap.com. That is just the rate they sell at.