- Prices in Korea are consistently higher than those elsewhere
- Local foreign-exchange rules have made profiting difficult
It’s the kind of market anomaly that savvy traders usually devour in fractions of a second: bitcoin prices in South Korea are 43 percent higher than those in the U.S.
Arbitrage 101 says buy in America, sell in Korea, and pocket the difference for a risk-free profit, minus transaction costs.
If only it were that easy.
Julie Verhage, Whanwoong Choi, & Kyungji Cho | Bloomberg