Make profit using different exchanges? - page 2.

majeis

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Quote from: Jeremycoin on April 16, 2015, 08:42:09 AM

Quote from: DarkHyudrA on April 15, 2015, 09:48:45 AM

http://en.wikipedia.org/wiki/Arbitrage
This idea is more old than you.

Remember that to make this you need to move fiat, and this means a few days to finish the whole process, so there's the risk of the price falling even more.

Wow, I never think of that since I started to do BTCitcoin trade. It's a great idea, how can I don't think about it. Thx for the explanation and the advice sir Grin

It's almost entirely pointless doing that unless you're constantly moving large sums of money since there are already so many other people doing it that it's only barely profitable.

There's also a significant delay when depositing, and the windows for potential arbitrage can be only seconds-long. You'd probably be better off doing some kind of triangular arbitrage with a bot between pairs existing on the same exchange, but even that's probably already too saturated to the point that it feels like you're fighting against the exchange itself.

Bitcoin Explorer

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Basically, this is arbitrage, buying at a place where the price is high and selling where it is low. I've written an article for btcfeed(now themerkle). Have a look at it.
http://themerkle.com/tutorials/bitcoin-arbitrage-brief-insight/

kinnu

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That is called arbitrage but check their charges for buying and selling.

Jeremycoin

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𝓗𝓞𝓓𝓛

Quote from: DarkHyudrA on April 15, 2015, 09:48:45 AM

http://en.wikipedia.org/wiki/Arbitrage
This idea is more old than you.

Remember that to make this you need to move fiat, and this means a few days to finish the whole process, so there's the risk of the price falling even more.

Wow, I never think of that since I started to do BTCitcoin trade. It's a great idea, how can I don't think about it. Thx for the explanation and the advice sir Grin

dothebeats

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Quote from: ikydesu on April 15, 2015, 11:52:39 AM

Your hands speed is the main point Cheesy

yes i ever do that once(with altcoin), but the market is so fast, my hand cant follow the trend and i only get double fees.

~iki

Also note that your eyes need to follow those orders before they go quickly. It's not always the speed of the hand, sometimes it requires your eyesight more than what your hand can do. Hand-eye coordination is important in doing this kind of trades.

Quote from: 98problems on April 15, 2015, 12:37:02 PM

i tried to buy altcoins on 1 exchange and then sell it on another but i never made any profits thats nearly impossible if you dont have bunch of money

I suggest you buy coins that has the high volume on an exchange and sell when you think that you've already made a profit. Be warned that this is not an easy way of earning money. It requires speed, timing, skill, and luck.

Quote from: ashour on April 15, 2015, 12:30:15 PM

This could work for altcoins as well but the risk is higher for altcoins since their prices aren't as stable as the bitcoin's one. Maybe try other methods to earn profit that aren't as risky as this is method is.

Yes, risks are always present in any opportunity that involves money, but what are those risks when you can make a profit out of it. If you're not confident on what you're doing, then try to stay away from it before getting burned in the end. There are always risks present in investing and trading, but you have to learn to minimize those risks in order for you to get a nice and sweet profit.

olcaytu2005

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Quote from: 98problems on April 15, 2015, 12:37:02 PM

i tried to buy altcoins on 1 exchange and then sell it on another but i never made any profits thats nearly impossible if you dont have bunch of money

if you find a chance you can earn some profit. once i bought a coin(DTC/BTC) on BTER, named Datacoin . and i sold it on BTER at the rate of (DTC/CNY). i used same exchange but different currency and i earned %45 profit within 4 days. another example; i bought some XCN on BTER and instantly i moved them Poloniex and sold them with %20 profit. So if you follow the markets as well as enough you can see arbitrage chances. if you find a high volume coin then you can earn much more.

98problems

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i tried to buy altcoins on 1 exchange and then sell it on another but i never made any profits thats nearly impossible if you dont have bunch of money

ashour

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This could work for altcoins as well but the risk is higher for altcoins since their prices aren't as stable as the bitcoin's one. Maybe try other methods to earn profit that aren't as risky as this is method is.

trafficolaa

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that is not a good idea and much risk involve in that kind of trading i also did that kind of trade but i think that is just waste of time, so hard to make decent money from Arbitrage.

oblivi

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Some people make a living out of that, but it's a very slave job, you need to pay attention all day, and be really good at trading, and the most important, having a lot of luck.

ikydesu

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Your hands speed is the main point Cheesy

yes i ever do that once(with altcoin), but the market is so fast, my hand cant follow the trend and i only get double fees.

~iki

ashour

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This would rarely work since you need to move coins quick between exchanges before the price changes. And since more exchanges require a 3 to 6 confirmations to allow to sell your coins but you can still try it out and see what happens. Good luck !

SpanishSoldier

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Quote from: josef2000 on April 15, 2015, 10:26:19 AM

So you could actually invest all your money in this arbitage-method and always make profit out of it or is there a risk?
By risk I dont mean like the risk investing in a ponzi or lotto, I mean is it somehow illegal etc

If it were illegal then the whole Wall Street operation is illegal.

manselr

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Quote from: JayCoDon on April 15, 2015, 10:04:39 AM

The goal is speed. The altcoin option presented above is a very interesting way of getting it done. Definitely interesting.

Altcoins are less liquid and it takes a lot of time sometimes to transport your BTC in some of the exchanges anyway.

josef2000

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Bro, you need to try http://dadice.com

So you could actually invest all your money in this arbitage-method and always make profit out of it or is there a risk?
By risk I dont mean like the risk investing in a ponzi or lotto, I mean is it somehow illegal etc

LiteCoinGuy

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Quote from: DarkHyudrA on April 15, 2015, 09:48:45 AM

http://en.wikipedia.org/wiki/Arbitrage
This idea is more old than you.

Remember that to make this you need to move fiat, and this means a few days to finish the whole process, so there's the risk of the price falling even more.

this is the never ending money making idea Tongue

JayCoDon

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The goal is speed. The altcoin option presented above is a very interesting way of getting it done. Definitely interesting.

acquafredda

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Quote from: josef2000 on April 15, 2015, 09:42:32 AM

Hi

I realized that prices from all exchanges are different, but could you actually make profit from this?
For example:
Price of Hitbtc is 240$/btc, however the price of bitstamp is 220$. So is it somehow possible to buy tons of bitcoins from bitstamp and sell it at hitbtc for a 20$ profit per Bitcoin?

I dont have that much money to invest though, so I didnt try.
Tell me your opinions!

If the market is like now and there are this "funny" up and dows around 20$ I would say yes and I tried it already. It works. But as others said you also have to move fiat money which is slower than BTC.
And sometimes while you wait you also lose opportunities.

So yes it's possible, it's arbitrage but only whales make money out of it.
Roll Eyes

EDIT: or as olcaytu2005 said you could try with altcoins...

olcaytu2005

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You don't need to have fiat money to do this arbitrage. You can do that with altcoins. bitcoin and altcoins move faster than fiat money. you dont need to wait for days like fiat money. For example;

(This is not true value, it s just a simple example)

Bter: XEM 62 satoshi
Polo: XEM 80 satoshi

if you have bitcoin in Bter you can buy XEM and send them Poloniex then you can sell them at that price 80 sat. So you get about %30 profit.

Sithara007

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Quote from: josef2000 on April 15, 2015, 09:42:32 AM

Hi

I realized that prices from all exchanges are different, but could you actually make profit from this?
For example:
Price of Hitbtc is 240$/btc, however the price of bitstamp is 220$. So is it somehow possible to buy tons of bitcoins from bitstamp and sell it at hitbtc for a 20$ profit per Bitcoin?

I dont have that much money to invest though, so I didnt try.
Tell me your opinions!

Not practical. The buying and selling will take time and in that much time prices may change and you will be in loss instead of profit.

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