Do you trade at multiple exchanges? - page 31.

hajimasan

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Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

I am in the Bitcoin field from 2014 but I started my Bitcoin with altcoin trading about 4-5 months before and created account at three exchange poloniex , yobit , cryptopia .
Only two time I made money for the selling Bitcoin with USD and then buy at another exchange . That was really a cool moment for me to make a profit of 80$ in one minute of hardwork .
And second time I made the profit with the adz coin bought at the yobit and sold at c-cex exchange , and made the profit of 0.04btc , that was really cool moment for me .
But after that I didn't get any chance to make because after that time I am facing the problem of the confirmation for the transaction of the Bitcoin at the exchange , usually it make one week to confirm , so everything not happen at the timing .

coynedterm

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Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

Yes ofcourse but this is not usual for everytime that prices are high and low from exchange to exchange for a particular altcoin .
We need to have atleast 0.1btc at every exchange , so buy altcoin at sudden low price and sell that altcoin instantly ( but you should have that altcoin already in your exchange account ) .
Here Transfer of one coin from one exchange to another take much time so we should remain fully ready with better pc system and conditions that made us more quick then other .
In this way we can make profit , otherwise all this are worst to see only .
Also another thing in this case I seen that we can't make profit with high price altcoin in this case because transaction fee sometimes more ( example of eth ) .

voltesbit777

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Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

Yes! I am using multiple exchange in terms of doing trade in the platform.
Because I do believe that in that way I can make a lot of profit in the near future in bitcoin of course.
And I know that I'm not the only one who doing this things. Wink

PokerFace3

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Quote from: PokerDiceMan on June 01, 2017, 08:44:39 AM

Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

youre strategy the name arbitrage
all people use arbitrage stategy to fast profit but majoirty not pair bitcoin fiat money, but altcoin trading, because arbitrage need fast transaction

Yes exactly the arbitrage is used by many of us so that we can get fast and easy profit and also it helps me managing my portfolio in a full fledged. I am holding 17 different coins currently and these all are not traded on the same exchanges at the same time. Most of them do but sometimes they don’t for which I am left with no other option then to go to different exchanges.

gabmen

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Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

Well i think a lot of traders do that. I've been shuffling btcs from yobit to cryptopia to poloniex since i started to learn trading. You just have to be real quick because sometimes there would be a big price difference between altcoins for a short time. Also, its good to deversify your btc invrstments. There's always a risk that one or two of these platforms may shut down so better be safe by spreading your btcs

Razzoel

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Each exchange has its own price for each coin. You can use the price difference to arbitrage between exchanges. otherwise I don't know why someone would trade at more than 1 exchange.

jpoker272727

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Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

Every exchange has their own price of their coins and it is never the same to the other exchanges, sometimes it doesn't worth moving the funds from one exchange to another one.

This because it takes time and while you are waiting someone else just made the sell or buy order and you have to wait further or "forced" to send back to the exchange you were before but now minus the fees twice.

Thank you...

mace15

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Yes I often do trade in mutliple exchanges site because of the fees that collected in other sites. Also of the altcoin that I usually followed on. This happen when I have enough of funds do arbitrade in the coins that I usually do. Others do this because to make fast or earn profit.

btcney

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Quote from: PokerDiceMan on June 01, 2017, 08:44:39 AM

Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

youre strategy the name arbitrage
all people use arbitrage stategy to fast profit but majoirty not pair bitcoin fiat money, but altcoin trading, because arbitrage need fast transaction

Arbitrage opportunities are extremely rare in altcoins because they are generally more liquid than Fiat currencies in the sense that you can sell any amount of it without ID. To be able to arbitrage and trade btc in general first you need to be verified, which some people is reluctant to do.

I trade on a lot of exchanges but I haven't seen any sort of worthwhile arbitrage opportunities yet. Btc-e prices is generally a lot lower but take away all the fees in deposit and withdrawal it evens out. Also you have to take into account potential market fluctuations that may happen.

Harry Callahan

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Quote from: PokerDiceMan on June 01, 2017, 08:44:39 AM

Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

youre strategy the name arbitrage
all people use arbitrage stategy to fast profit but majoirty not pair bitcoin fiat money, but altcoin trading, because arbitrage need fast transaction

With the amount of time it takes to get the confirmation in bitcoin,it is nearly impossible to do arbitrage in bitcoin,but with some of the exchanges under heavy DDOS and having a surge in the number of users,it is impossible to do arbitrage trade because the delays in getting your coins are really frustrating,yes i do trade in multiple exchanges but mainly in Polo and Bittrex.

Strongkored

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I use 2-3 exchange but not for arbitrage, used it when another exchange not support coin that I want to trade.

spngebob

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Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

Not really, i use only one exchange for trading. You are talking about arbitrage trading here, you need lots of time and money for that. In my opinion it's really hard to do it, you have to pay fee on one exchange, fee on second exchange than you have to wait for coins... I think it is for professional traders only.

PokerDiceMan

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Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

youre strategy the name arbitrage
all people use arbitrage stategy to fast profit but majoirty not pair bitcoin fiat money, but altcoin trading, because arbitrage need fast transaction

italianMiner72

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Quote from: mirakal on June 01, 2017, 02:12:43 AM

Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

That is arbitrage, yeah I did not sometimes if I see some opportunity but it does not happen all the time and you need to have a good capital so you can exploit the price differences. 1 BTC is enough for me and I have done that once when I saw a price difference in Liqui and Bittrex so I grab it and make easy money. You need to have a lot of time to focus and to make a constant by simply doing it, it's possible but you have to devote most of your time.

i repeat again...
this is not the right way to do arbitrage or spread trading...
How do you think to buy low on Exchange A, tranfer btc ans sell high to exchange B???
It's simply impossible!!!
you nee to have money ($ and BTC) in Exchange A and B... and for a succefull trading you must place buy/sell order at the same time!!
that's all

CasinoRoyal.one

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I keep accounts with Polo and Kraken but do not partake in arbitrage trading, the fear of long lead times puts me off.

mirakal

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Quote from: jeffytune on May 28, 2017, 05:53:15 PM

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

That is arbitrage, yeah I did not sometimes if I see some opportunity but it does not happen all the time and you need to have a good capital so you can exploit the price differences. 1 BTC is enough for me and I have done that once when I saw a price difference in Liqui and Bittrex so I grab it and make easy money. You need to have a lot of time to focus and to make a constant by simply doing it, it's possible but you have to devote most of your time.

wuvdoll

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Quote from: JellyO on May 31, 2017, 08:28:47 PM

I only trade a poloniex. I dont see the point of trading at multiple exchanges unless you are doing arbitrage.

Yet again ? How you will trade one altcoin which has not yet listed in your exchange ?
You will ignore trading that altcoin or you will go for signing up a new account with a new exchange where that altcoin trading is available ?

There are multiple factors which are influencing why we need to maintain accounts with multiple exchanges. Arbitrage cannot be the only one reason for same.

Other than above mentioned reason, traders are choosing exchanges based on fees structure and legality of exchanges with the respect to their country. Hence obviously they need to have multiple exchanges.

JellyO

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I only trade a poloniex. I dont see the point of trading at multiple exchanges unless you are doing arbitrage.

BluePoppy

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I do arbitrage with multiple exchanges. there is a huge profit opportunity when prices are different between exchanges. I find it to be a more reliable method of income than trading price movements.

CyberKuro

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Currently, I'm using local exchange in my country to trade or convert bitcoin but for altcoins trading, mostly I spend my time on bittrex and Liqui, no particular reason because my friend suggested those exchanges and after tried it, all going well until now. Even though some traders don't like Liqui as they're listed too many shit coins but some time you could learn from this new coin whether it is good or not.

Topic: Do you trade at multiple exchanges? - page 31. (Read 19302 times)