I am guessing that the reason why he wants to do this is for arbitrage and so far every suggestion won't work.
The stablecoin approach won't work because it will take away most of the arbitrage profits and suggesting "Paypal" is not a good idea due to the chargeback risks and even if there isn't a chargeback risk the funds can easily get frozen since Paypal is not too crypto friendly.
Pretty much waiting the 3 business days is the only solution.
Topic: Looking for the fastest way/tool to transfer fiat currency between exchanges (Read 217 times)
December 03, 2018, 01:28:08 AM
December 03, 2018, 12:58:11 AM
Hello,
I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
USDC looks more promising stable coins so when you don't want to wait for the fiat transfers you can exchange the same amount into some stable coins which has equivalent value to the USD for now. I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
December 02, 2018, 06:35:35 PM
Hello,
I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
So called 'stable coins' may be an elegant answer to your question. Read more about Tether (USDT) or USDC. Although some community members have very sceptical opinion on these stable coins, it might serve you well for fast transfers.
December 01, 2018, 07:21:21 AM
Hello,
I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
I think you should use that amount to convert to USDT. then you can send over a wallet address of the receiver and then can switch on the fiat money very fast. That's how I usually do when I transfer a large amount to my friend. I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
December 01, 2018, 06:52:34 AM
According to my experience, there is nothing faster than SEPA. I also use wire transfer option on cex (https://cex.io/) because it doesn’t charge any fees. 3 days to transfer fiat to exchange is rather quickly. Usually, the intervention of the third parties slows down the transaction process. On cex it takes from 3 to 5 days to transact fiat.
Yes. I guess this is where the stablecoin lacks.I mean normally between two exchanges the fastest way to exchange money is using either crypto currency (which you do not want) or using stablecoins like USDT in order to make the transaction faster. If the two exchanges you would like to exchange the currency doesn't give you the option to deposit or withdraw USDT or anything similar to that (USDC for example) than it is lacking both on USDT part and for exchange as well.
USDT should be capable of helping you with stuff like that because that's the whole point of that token whereas the exchange should allow you to do that in order to get more trading from that type of currency and more trading would equal to more profits (they would probably profit from the withdrawal as well).
November 30, 2018, 09:50:46 AM
According to my experience, there is nothing faster than SEPA. I also use wire transfer option on cex (https://cex.io/) because it doesn’t charge any fees. 3 days to transfer fiat to exchange is rather quickly. Usually, the intervention of the third parties slows down the transaction process. On cex it takes from 3 to 5 days to transact fiat.
November 15, 2018, 06:09:58 AM
Hello,
I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
I think paypal might be the best option you have if you trust it, aside from that depending on where you live and which exchanges you want to use than you can get CoinBase which is easiest option or you can use shapeshift for the fastest transaction but it will be crypto. I understand you are probably curious about this because you want to do arbitrage trading but instead of the timing maybe you should also try to focus on fee because most of the time the withdrawal fee plus the trading fee eats up a lot of that profits when you are doing arbitrage, even if you find 3% difference it becomes 0.4% very quickly because of it. There you will need speed not to lose money but it wouldn't really help out that much if your arbitrage is too little. %2 difference usually loses you money instead of gain for example. I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
November 12, 2018, 10:04:03 AM
Why would you even transfer fiat currency between 2 crypto exchanges?
Just do Ethereum or NEO( Zero withdraw fees and Zero transaction fees) and then convert to the currency or token you want after transfer
Just do Ethereum or NEO( Zero withdraw fees and Zero transaction fees) and then convert to the currency or token you want after transfer
November 12, 2018, 09:33:03 AM
I need to transfer fiat currency (EUR or USD) between two exchanges.
This is where the stable coins come into equation. Right now Tether is on down trend because of issues and many others started to fill the market. Find something that is accepted by both exchanges and you are just fine.
GUSD may inspire more confidence, but I don't know if many accept it for now.
If you don't do this for arbitraging (normally such transfers are for arbitraging, but if you wait 3 days for transfer maybe you do something else), if you want to make the transfer in "quiet" market, any major coin would also do the job.
November 12, 2018, 03:35:04 AM
I doubt fiat to fiat transfers between exchanges would ever get quicker or convenient - third parties intervention always make processes a drag. I turn to Dogecoin, it is supported by most exchange, very low fee and fast. Also it can be said to be relatively stable, so you would most likely not end up with much less after reconversion and the time you saved would be more money.
November 11, 2018, 06:17:46 PM
There won't be anything faster than SEPA. For USD forget it. That's going to be agonising no matter what you try. I'm surprised about the 3 day figure though. Which exchanges are you on?
The only other option will be a stablecoin once you've bought into it but obviously that would require both exchanges to utilise it. I wouldn't bother with Tether, USDC might spread to more exchanges.
The only other option will be a stablecoin once you've bought into it but obviously that would require both exchanges to utilise it. I wouldn't bother with Tether, USDC might spread to more exchanges.
November 11, 2018, 03:27:04 PM
Hello,
I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
I need to transfer fiat currency (EUR or USD) between two exchanges.
Currently I am using SEPA bank transfers for EUR, but require 3 days.
Do you have any suggestions to reduce fiat transfer time?
I am open to external tools/apps able to work integrated to major exchanges.
Thank you in advance for your inputs.
DI
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