Topic: Need a piece of advice form experienced traders - page 3. (Read 559 times)

As others have said, arbitraging is really not advisable considering the fees (trading, withdrawal) involved. If you account those fees, you will come up with very minimal profit if not zero. Unless, you find an altcoin other than bitcoin to trade. Because there are some good finds that the price difference are quite big. But you have to be careful as the trading or withdrawal might take too long because for one, there maybe few traders on that market, so you have to wait for considerable of time to sell your coin and once you got it, withdrawal from that exchange is not instant. So it depends on your priorities. But on my end, I don't think it is advisable to waste your time on this if you don't have enough resources.

If you do mean on buy/sell btc then i do only hang up with a single exchange rather than on multiple ones yet as mentioned earlier if you do pertain with arbitrage then it isnt really worth the time yet

prices on exchange doesnt really differ that much when it comes to gaps/spread between prices.So its not really worth to try or think of. When it comes to best rates then you should not
stress out yourself to this one.

Most of the exchanges except few reputable exchanges have fake volumes, it means if you decide to open an account in an exchange which has a lower price comparing to the others there's a good chance that you can't buy or sell at the price that you're seeing on cmc or the exchange itself, because it's just bot trading from the exchange itself to show good liquidity which isn't there, so if you try to buy or sell at the price that is being traded at that moment in an exchange your order wouldn't get filled because exchange bots only buy from/ sell to themselves and ignore other orders...

You can check whether an exchange has a fake volume yourself, you just take a look at buy and sell orderbook and have an eye one trade history which shows recent trade of that pair, if an order went through at a price and shown on the recent trades but at that moment wasn't on the buy or sell orderbooks it means they have fake volume, in these exchanges you can only buy from the sell orderbook or sell to buy orderbook, buy and sell orderbook prices on these kind of exchanges are usually way more different(worse) than the price that you're seeing being traded by bots and shown with shiny color, also there are issues with some exchanges like withdrawal problems when you want to withdraw and they ask for kyc or freeze your funds for all kind of reasons ...

So based on my own experience I wouldn't suggest anyone to just look for a better price in an exchange specially when it comes to crypto whether it's for purpose of arbitraging or simply just buying cheaper or selling higher.

Arbitraging (trying to profit from the best rates) isn't worth my time. The spreads between exchanges are too small to profit much from.

When there are massive price discrepancies that actually look attractive to arbitrage, it's usually because of insolvency or customer inability to withdraw funds. For example, when Wex.nz disabled BTC withdrawals, the price of BTC started trading extremely low compared to the spot price. Misguided arbitragers deposited USDT to buy up the "low-priced" BTC only to find out the "BTC" was worthless because it couldn't be withdrawn.

So I mainly stick with my chosen exchanges, which for now are Coinbase Pro, Kucoin, and Bitmex.

The price difference between exchanges shouldn't impact your trading results significantly enough to consider moving your money around to buy from another exchange unless you are an arbitrage trader who keeps a quantity of dollars on many exchanges and trying to profit from that.

If I were you I'd chose an exchange with the best combination between trust/reliability and fees.

Are you guys looking for the best rates in the market when deciding to buy/sell Bitcoin or you're bond with the certain exchanges where you have an account?