Yeah, I've come to the same conclusion: Best answer for this? Don't.
Instead, put more money in, and LEAVE it there. The best way to cache out on arbitrage is don't; just let it grow over time and wait for the opportunities to reverse on the exchange.
I realize this requires more liquidity, but them's the breaks.
Topic: How do I move funds around exchanges quickly? (Read 687 times)
No there is no way to move funds around quickly. If there was, prices would always be within a $ at mtgox and bitstamp. Dead horse.
First of all: I'm new to this (1 month), but I do arbitrage and therefore I think I know some things.
If there would be a good way to move funds quickly, there would not be such a big gap (at the moment 7.5$ profit from Bitstamp to MtGox).
There were ways to do this: 1. Aurumxchange 2.Bitinstant 3.OKpay
But:
-OKpay is not possible with MtGox (since a month or so).
-Aurumxchange closed yesterday >.<
-Bitinstant is good for nothing, since the relaunch some weeks ago. I really hope they will come back, with all opportunities of moving funds, they had before. (they had MtGox <->Bitstamp , and BTC-e -> MtGox for example)
So at the moment, there is no way, except withdrawing from MtGox or buying Bitcoins and sell them on another exchange. --> u have to wait.
If there would be a good way to move funds quickly, there would not be such a big gap (at the moment 7.5$ profit from Bitstamp to MtGox).
There were ways to do this: 1. Aurumxchange 2.Bitinstant 3.OKpay
But:
-OKpay is not possible with MtGox (since a month or so).
-Aurumxchange closed yesterday >.<
-Bitinstant is good for nothing, since the relaunch some weeks ago. I really hope they will come back, with all opportunities of moving funds, they had before. (they had MtGox <->Bitstamp , and BTC-e -> MtGox for example)
So at the moment, there is no way, except withdrawing from MtGox or buying Bitcoins and sell them on another exchange. --> u have to wait.
legendary
Activity: 1862
Merit: 1011
Reverse engineer from time to time
Let's imagine I see some arbitrage between one exchange and another(as of now, that is bitstamp and MtGox or even btc-e). Let's say I buy cheap coins and bitstamp and send them to another exchange like Gox or BTC-E where I sell for USD, how can I quickly move the USD from Gox or BTC-E back to BitStamp to repurchase the coins and essentially repeat the steps?
Is it possible to use BitInstant for this?
P.S
Really, time is of the essence in this process. Oh and I live in Europe and am not a U.S Resident, nor am I verified on MtGox.
Is it possible to use BitInstant for this?
P.S
Really, time is of the essence in this process. Oh and I live in Europe and am not a U.S Resident, nor am I verified on MtGox.
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