I use binance to make transcation only inside the exchange. To buy bitcoin and save commissions I used this guida. Then I use other exchanges where I can use credit cards or bank wires.
GDAX and Binance are two differents things and they cannot be compared. With GDAX I usually save on money transacation though.
Topic: Always lose money if you go FIAT--->GDAX-->Binance ? (Read 183 times)
GDAX and Binance are two different markets. So they will obviously have a difference in their prices (different/higher volume like you said).
And correct me if I'm wrong, but if GDAX price is higher, why would you lose anything if you are selling for a higher price (same price as you bought)? E.g: If you buy $190 at GDAX, send to Binance (worth $180), profit 5% ($180 + $9) and back to GDAX ($190 [since GDAX price is higher] + $9), wouldn't you receive the same initial amount (+ profit) as GDAX price is always higher?
I don't think there is any workaround as this is exactly how markets work.
And correct me if I'm wrong, but if GDAX price is higher, why would you lose anything if you are selling for a higher price (same price as you bought)? E.g: If you buy $190 at GDAX, send to Binance (worth $180), profit 5% ($180 + $9) and back to GDAX ($190 [since GDAX price is higher] + $9), wouldn't you receive the same initial amount (+ profit) as GDAX price is always higher?
I don't think there is any workaround as this is exactly how markets work.
I buy LTC at GDAX for $190.. I send it over to Binance - where it is worth $180 (cause binance always has lower prices due to higher volume). I ALWAYS lose $10 per LTC!
Same for ETH and BTC. I have NEVER encountered a scenario where this was opposite - or even balanced. Since Binance will not allow FIAT deposit, so I have to go to GDAX first
So, it seems one does not get a 'fair' price on Coinbase or GDAX. One pays a premium. So - you have to first recover the $10 premium before you start making a profit on your crypto.
The price difference is shocking! Am I missing something? Anyone have a workaround?
Same for ETH and BTC. I have NEVER encountered a scenario where this was opposite - or even balanced. Since Binance will not allow FIAT deposit, so I have to go to GDAX first
So, it seems one does not get a 'fair' price on Coinbase or GDAX. One pays a premium. So - you have to first recover the $10 premium before you start making a profit on your crypto.
The price difference is shocking! Am I missing something? Anyone have a workaround?
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