We created an Infographic comparing Bitcoins with other services to find out the costs to send AED 1875 from UAE to India. We are here comparing Bitcoin with Western Union, Al Ansari, MoneyGram and Uaexchange!

This is Part II in the series “Comparing Bitcoins with other money transfer services” and this time we are comparing the costs for sending money from UAE to India. You can read the Part I (USA to India) here.

All the mentioned prices now on will be based on the Bitcoin price on 18th Oct 2016. For this example, we are using BitOasis to buy Bitcoins from UAE and Zebpay to Sell Bitcoins in India. We will be using 1 BTC for easy explanation for everyone.

Buying Bitcoins from UAE

Price of 1 BTC on BitOasis : AED 2371.

Let us say the user buys for AED 2372 so that the few extra bits (~200) from that purchase can be used as the bitcoin network fees.

Total = AED 2372 (~₹43,059)

Selling Bitcoins in INDIA

After buying the bitcoins, the user sends it to his/her Zebpay bitcoin address.

Selling price of 1 BTC on Zebpay: ₹44,651

Withdrawal fees, ₹10.

So ₹44,651 — ₹10 = ₹44,641.

Finally, ₹44,641 — ₹43,059 = ₹1582.

The user sells the Bitcoins purchased in UAE for profit of ₹1582 ~ (USD 23.66 or AED 87.44) in India.

So by this we can conclude that even if there were some fees associated with buying bitcoins in the UAE, the user would cover the costs as he’s selling bitcoins for profit in India.