Topic: If you can sell Bitcoin on Exchange with good rate, why selling to resellers - page 2. (Read 319 times)
September 13, 2021, 09:38:56 PM
@Tranthidung...i'm pointing at selling Bitcoin outside exchange where the reseller gain mostly and the seller end up forfieting some dollars just because of low selling rate. Almost all resellers do go for rate that are lower than the general/exchange rate just to make profit out of the transaction.
September 13, 2021, 09:30:50 PM
So what did I say in my post? Buy only? Sell only? Both?
I am not saying that you are wrong, you are correct, but I just want to indicate that selling bitcoin can be most profitable on exchanges rather than resellers if not concerned about privacy. But with what you said, if it is buying, it is better to use reseller if the buyer is not trading and want to transfer the bitcoin to noncustodial wallet, but if the person is a constant trader and not making any trasfer than bitcoin to fiat and fiat to bitcoin, he can just make use of exchanges, but if he want to move his bitcoin to noncustodial wallet, he can use resellers which will be more profitable. 
September 13, 2021, 09:24:44 PM
Why give a shit on how the sellers will profit? I think you should just focus on having the best exchange rate for your crypto if you ever need to convert, whether it's through an exchange or P2P. Don't think too much about it because you can't control it. Just focus on what you can control.
September 13, 2021, 09:23:37 PM
You can buy or sell at better rate on Peer-to-peer marketplaces or in-person rather than on exchanges. On exchanges, you will have to be charged double fees
What OP is saying is different, OP is only talking about selling not buying and he is right. Why give a shit on how the sellers will profit? I think you should just focus on having the best exchange rate for your crypto if you ever need to convert, whether it's through an exchange or P2P. Don't think too much about it because you can't control it. Just focus on what you can control.
Me too. I am happy when I take profit and to be honest, I am not patient to create a buy offer and wait for others to pick mine. When I feel I have good profit, I choose instant sell on available buy offer on the Peer-to-peer marketplace.It saves my time. Instant trade. Why do I have to care about difference between my sell offer (if I create it) and the highest buy offer on the marketplace. I take profit when Bitcoin, ie. increases good enough from my entry and that's it. I can wait patiently for price to rise but when I take profit, I would like to complete it instantly.
September 13, 2021, 09:22:17 PM
You can buy or sell at better rate on Peer-to-peer marketplaces or in-person rather than on exchanges. On exchanges, you will have to be charged double fees
What OP is saying is different, OP is only talking about selling not buying and he is right. You have in mind already that the coin that will be sent to you will be converted to fiat and you will spend it, you give the sender your binance bitcoin address, the sender send it to your binance account, you use p2p to trade it directly into fiat and into your bank account which is zero fee, I am very sure that everything is zero fee.
Let me use USDT for this example and relate it to bitcoin.
If you use a reseller, bitcoin can worth $500, but if you us exchanges like binance, you will exchange it at $550. Can you see the huge difference, the seller would have gained more if used exchange directly.
What I just think about this is that some people are newbies and do not know that they are losing, while some people just like to stay anonymous.
September 13, 2021, 09:08:10 PM
You can buy or sell at better rate on Peer-to-peer marketplaces or in-person rather than on exchanges. On exchanges, you will have to be charged double fees
- Exchange/ trading fee
- Withdrawal fee: if you don't want to store money (in cryptocurrency) on exchange.
- Old story. Exchanges get profits from users' withdrawal fees.
- Exchanges charge you too high with withdrawal fee: they can try to convince you that they have to secure wallets, maintenance, process, etc. but generally in my opinion, it is unfair reason
September 13, 2021, 08:56:43 PM
I have noticed people selling there bitcoin to resellers who will buy low and sell high making few profits from what they bought from others. They do make frequent Bitcoin transactions selling to people that are urgently in need of it with bigger profits especially when the transaction is large. Exchanges had made Bitcoin transactions easier through peer to peer trading with an obvious rate which will be more profits to sellers when they sell through exchanges than when they sell to resellers who later sell to the public.
It depends on what it is as people are after different things.
Some might be after a longer term fixed price, the exchange calculates rates by seconds while meeting up with someone can give you a rate that lasts a day or two if they've already bought the bitcoin.
There's also an anonymity standpoint to buying and selling bitcoin from individuals too. I think there's also a more personal touch with that method as well as they might provide better support as a small company/individual could respond and control issues a lot faster than an exchange.
September 13, 2021, 08:52:42 PM
I have noticed people selling there bitcoin to resellers who will buy low and sell high making few profits from what they bought from others. They do make frequent Bitcoin transactions selling to people that are urgently in need of it with bigger profits especially when the transaction is large. Exchanges had made Bitcoin transactions easier through peer to peer trading with an obvious rate which will be more profits to sellers when they sell through exchanges than when they sell to resellers who later sell to the public.
I had sold my Bitcoin before at a low rate lower than exchange rate which I later regret because I was new to crypto and doesn't have a better knowledge of selling to an exchange. Some people still prefer selling their Bitcoin to resellers which I will like to know. I use to have the feeling that selling to them may shorten the overall amount that one has to receive because they will need to sell it to others make there own profits.
I had sold my Bitcoin before at a low rate lower than exchange rate which I later regret because I was new to crypto and doesn't have a better knowledge of selling to an exchange. Some people still prefer selling their Bitcoin to resellers which I will like to know. I use to have the feeling that selling to them may shorten the overall amount that one has to receive because they will need to sell it to others make there own profits.
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