Bitcoin prices abroad

redwoods
By redwoods on Mon, Apr 1, 2013 - 4:26am

Just curious as to why bitcoin is more expensive in the UK compared with the US ?  I thought its was supposed to be the same for everyone.

1 Comment

Magnum03's picture
Magnum03
Status: Bronze Member (Offline)
Joined: Dec 14 2012
Posts: 30
Supply and demand

Just like stocks can trade at different exchanges at different prices simultaneously or gold can have one price in London and another in New York. It's the bid/ask at the exchange which sets the price.

When you trade bitcoins at an exchange it is the supply and demand for bitcoins in the specific currency at that specific exchange, which determines the price. You will see that even the price of bitcoins in one currency isn't the same at all exchanges.

 

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