Do you trade at multiple exchanges? - page 32.

Kemarit

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Quote from: moviebuff777 on May 31, 2017, 09:19:59 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?

It seems too hard to manage with arbitrage trading. You have to make sure that you make enough profit to overcome the fees for moving from one exchange to another.

Correct, people thought that if you have a account in a China trading platform and let say in US, and try to do a arbitrage, you will just withdraw from one trading platform and sell it to the other. Its not just like that. You have to put into account the fee's and how fast you can withdraw it. And as far as having multiple accounts for trading, yes, I have 3 accounts that I managed right now and so far I don't encounter issues on my end. Although I just have to stay late my time to trade or buy coins that I like.

Monnt

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Quote from: moviebuff777 on May 31, 2017, 09:19:59 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?

It seems too hard to manage with arbitrage trading. You have to make sure that you make enough profit to overcome the fees for moving from one exchange to another.

Yes many people are misunderstanding about maintaining accounts with multiple exchanges as only for the reason of arbitarge trading. Practically price gaps are very rare and making use of those gaps not that easy when considering fees and time delay for confirmations.

I have signed up many exchanges (honestly I do not have any count) in my crypto career as per need whenever I do want to trade one particular altcoins. I do get back to those exchanges whenever I need as per available listing of different trading pairs.

moviebuff777

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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?

It seems too hard to manage with arbitrage trading. You have to make sure that you make enough profit to overcome the fees for moving from one exchange to another.

pinggoki

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Yes I do trade in differnt exchanging sites...first because some altcoins is doesn't exist in other exchaging sites. Second, because sometimes there are different rates of altcoins in every exchages. Furthermore, I used also the sites to store few of my altcoins because I believe that don't put all of your eggs in one basket.

Humanxlemming

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yes i've trading using many exchanges like if the altcoin that i needed have'nt not listed in poloniex then i would succesfully search it in bitrex or in any exchanges that the altcoin that i want oto buy is can buy in thier exchanges. anyways i only trade in poloniex just someimes going in bittrex if there's some coins that i want to buy

reflector

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Quote from: babysweetTiger0401 on May 31, 2017, 06:42:20 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?

Actually its agood idea that we need to trade not only on single platform exchange site like other traders do not put all your eggs
In 1 basket. At least if there is a problem your coins holdings whether bitcoin or altcoins it is scattered isn't?

The reason you will not able to manage your trading in the multiple trading site. You need to look around price and set up the value in each site as price changes. This may lead to find the loss many times in trading. So we can have bitcoin trading in single trading exchange.

babysweetTiger0401

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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?

Actually its agood idea that we need to trade not only on single platform exchange site like other traders do not put all your eggs
In 1 basket. At least if there is a problem your coins holdings whether bitcoin or altcoins it is scattered isn't?

ivanst776

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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 used to trade in multiple exchanges but that is not as much fun because it's stressful and we have to be very much patient because of waiting for confirmations and some exchanges rewuire 30,60,90 confirmations.

For example in poloniex it can take half a day or a day to see your eth balance in poloniex account and this can cause a huge loss because the Eth price is changing up to 25% and now calculate if you have eth worthing 1btc how much could be the loss.

BitHodler

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I have accounts at Bitstamp, Kraken and BTC-e. In some cases there are decent arbitrage opportunities, which is exactly why I am active on three platforms.

In this case there is such an opportunity as well with a gap of around $60 between Bitstamp and BTC-E, but I don't have enough funds on BTC-E to make it worthwhile.

bluefirecorp

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Quote from: Hamukione on May 30, 2017, 01:14:36 PM

I personally only use Bittrex to keep everything at one place, and I like the interface that Bittrex has.

How you will deal with an altcoin which is not being listed on bittrex ? I am not finding any difficulties in dealing with more than 5 exchanges for my altcoin trading purposes.

I believe like not having all our cryptocurrencies in one single wallet, we should not rely on one single exchange for our trading purposes. It must be a better practice to have accounts in multiple exchanges so that we can be sure about covering all the leading coins and no need to worry about down time in one exchange.

italianMiner72

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Quote from: Hamukione on May 30, 2017, 01:14:36 PM

All the scandals on Poloniex makes it hard for me to trust them as it is right now.

sorry but never heard or read something bad about polo.
but if there is something to know, i want to know it...
what are you talking about?
do you have some link or thread to read?

thank you.

xhienigat

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Quote from: Iranus on May 28, 2017, 06:04:02 PM

It's called arbitrage trading. Here's why all the prices aren't the same:

-There's a "spread" on most exchanges, which is the difference between the buy and sell prices.

-Some exchanges have high fees (e.g. Coinbase)

-Some exchanges are dysfunctional (Bitfinex, BTC-E, Chinese exchanges), and some exchanges are also extremely shady/annoying when you move large amounts (BTC-E, Poloniex and more).

Overall doing arbitrage with several exchanges can get very hard. There are some minor opportunities with the extreme price fluctuations that go on, but they're gone very fast. I don't recommend you get involved unless you know what you're doing or you can trade with foreign exchanges (like South Korea).

Same here, I once tried arbitrage trading and it is not actually a good recommendation to trade at multiple exchanges but if you have lots of capital for the coins you are buying then it'll work for you. But there are some traders who transfer the coins they bought at this certain site to another site because they bought it low and the tendency is you'll receive the transfer so late because of the traffic blockchain. But there are also some traders that works for them though.

Hamukione

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I personally only use Bittrex to keep everything at one place, and I like the interface that Bittrex has.

All the scandals on Poloniex makes it hard for me to trust them as it is right now.

But cant deny I will move over to them at some point.

As trading with SIA on there seems to be nice if you day trade a lot Tongue

goinmerry

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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?

If there's only a small gap then I won't bother to sold coin to other exchanges. Sounds hassle to me especially at bitcoin trading. Plus the confirmation really sucks even your transaction have a decent fees. I don't find arbitrage trading now as an effective way to get profit on bitcoin trading.

Right now, Im having the same idea with the other alts. I tend now to use only single exchanges to deal with my trades. But if I will answer the thread title literally, then I do trades at multiple exchanges but on different altcoins since there is some altcoins that is not present on both exchanges but present on others.

fikihafana

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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?

Trade at multiple exchange is yes, but i wont transfer my coin to another exchange just because small price difference. I also calculated transaction fee and how long it will pending in other exchange, sometime it will make you loss

frowsiter

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Quote from: Iranus on May 28, 2017, 06:04:02 PM

It's called arbitrage trading. Here's why all the prices aren't the same:

-There's a "spread" on most exchanges, which is the difference between the buy and sell prices.

-Some exchanges have high fees (e.g. Coinbase)

-Some exchanges are dysfunctional (Bitfinex, BTC-E, Chinese exchanges), and some exchanges are also extremely shady/annoying when you move large amounts (BTC-E, Poloniex and more).

Overall doing arbitrage with several exchanges can get very hard. There are some minor opportunities with the extreme price fluctuations that go on, but they're gone very fast. I don't recommend you get involved unless you know what you're doing or you can trade with foreign exchanges (like South Korea).

Interesting points you have got there. So what exactly make this arbitration ; is it exchanging from one exchanger to another or just the way it works? I don't understand how one can make profit from this. As there involved exchanger fees for both sides (sender and recipient) so that's double the fees. Also though you have window at another exchanger for gaining profit but that wouldn't be much as compared to normal trades. I mean there could be trick if I am missing something.

asyakashi

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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?

Do not do arbit if only use small capital, this technique require market accuracy and calculation how long process of witdraw. If late and prices have dropped then this makes you lose. Wink

Gumpfire

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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 don't. Price in diferrent exchangers is not apart and fee is so expensive thus I prefer not to arbitrage as I don't feel it's worth it.

Dudeperfect

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Yes, I do trade on multiple exchanges but not every time. The price of the bitcoin is most of the time 10% to 15% more in my country as compared to that of international markets but since buying from international market costs around 10% to 20%, it doesn't make sense to go in that way. I mostly focus on trading in altcoins and stocks, commodities using 1broker like sites. However one can earn good profit by trading on single exchange like localbitcoins by offering multiple payment options for buying and selling.

italianMiner72

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Quote from: jmigdlc99 on May 29, 2017, 05:23:32 AM

If you're looking to do arbitrage, consider doing it with LTC.
LTC confirms fast so if you see a profitable margin between exchanges, you could send fast.

Good luck!

Arbitrage does not work in that way.
You need to have BTC and LTC in all the Exchange where you want to do Arbitrage.
When you see a probitable arbitrage, you need to submit 2 trades at the same time!
In one Exchange you buy LTC with bitcoin and at the same time you sell LTC on the second Exchange and you get BTC.

Topic: Do you trade at multiple exchanges? - page 32. (Read 19302 times)