Selling Bitcoin Over Market Price? | Bitcointalksearch.org

Pamadar

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Quote from: adzino on February 24, 2018, 08:12:31 AM

Quote from: vidprab5 on February 24, 2018, 01:58:13 AM

It is possible to buy Bitcoin and sell it at a higher price than the market price rate. But the thing there is what kind of people would like to buy at a higher rate that is above market price?Well, let me guess– traders or newbies? maybe one of them. I know some exchangers will buy from people at a price below the market price and then sell to others at a higher price rate.

He is not talking about overcharging newbies or other traders by selling them at higher price. What he is trying to say that there are differences in price on different exchanges. Buy from exchanges whose rates are low and sell in the ones where the price is high. What he is missing is that there are other fees which he isn't considering. And transferring coins from one exchange to another exchange takes time since there is a delay. During that delay the prices might change and he may suffer a lot.

That's how risk taker take their chance trying to do this arbitrage trade advantage, who knows what will happen to the coin value after buying it from one exchange and transfer it to another, the fee should be consider beforehand, right after that the time delayed in just a matter of minutes the price will change
and chances to lose your money is very quick.

mersal

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Quote from: adzino on February 24, 2018, 08:12:31 AM

Quote from: vidprab5 on February 24, 2018, 01:58:13 AM

It is possible to buy Bitcoin and sell it at a higher price than the market price rate. But the thing there is what kind of people would like to buy at a higher rate that is above market price?Well, let me guess– traders or newbies? maybe one of them. I know some exchangers will buy from people at a price below the market price and then sell to others at a higher price rate.

He is not talking about overcharging newbies or other traders by selling them at higher price. What he is trying to say that there are differences in price on different exchanges. Buy from exchanges whose rates are low and sell in the ones where the price is high. What he is missing is that there are other fees which he isn't considering. And transferring coins from one exchange to another exchange takes time since there is a delay. During that delay the prices might change and he may suffer a lot.

This is called arbitrage trading right.

This is happening because the price of crypto currencies are determined on the demand of that particular exchange so the price varies from exchange to exchange, so we can buy at one exchange and sell them in another but now the arbitrage trading with bitcoin is low risk since the transaction are happening faster with 1sat/byte so we can make little money in short time.

adzino

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Quote from: vidprab5 on February 24, 2018, 01:58:13 AM

It is possible to buy Bitcoin and sell it at a higher price than the market price rate. But the thing there is what kind of people would like to buy at a higher rate that is above market price?Well, let me guess– traders or newbies? maybe one of them. I know some exchangers will buy from people at a price below the market price and then sell to others at a higher price rate.

He is not talking about overcharging newbies or other traders by selling them at higher price. What he is trying to say that there are differences in price on different exchanges. Buy from exchanges whose rates are low and sell in the ones where the price is high. What he is missing is that there are other fees which he isn't considering. And transferring coins from one exchange to another exchange takes time since there is a delay. During that delay the prices might change and he may suffer a lot.

gabmen

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Quote from: Makrochain on February 23, 2018, 03:44:01 AM

Quote from: viking02 on July 22, 2017, 06:36:44 PM

If you could get bitcoin at a certain price and then sell it to another exchange or person... how profitable would this be? For example bitcoin is 2500 a coin. You get them at 2500 a coin. Localbitcoins it seems like ppl who buy bitcoin actually offer you more than 2500 per coin right? If thats the case, why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit? The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user. Does anyone know how much money ppl are buying over the market price for bitcoin on localbitcoins? For example if price is 2500... are people paying like 3 percent for it? Thus 2575 etc for a coin? Or is it the other way around? Because i recalled didn't people sell bitcoin at face value or actually get less than face value? But since bitcoin gotten really big, its actually worth more than cash value?

We can see that bitcoin prices are recovering in the last few days, so for that reason we should always monitor the market to be able to sell bitcoin at the highest price. With the current price increase, I think the bitcoin price will probably hit $ 12,000 in the coming days, so at this point it should keep the bitcoin rather than sell it off.

Ah dude, i don't think what you just said there has any connection to op's post. Probably you haven't read the entire post yet :p the problem with what op's trying to say is that buyers mkst likely would rather buy from exchanges as well to buy at a lower price with less txn fee. It's two way. Op's idea is for selling and buyers can also opt for the same when buying

vidprab5

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It is possible to buy Bitcoin and sell it at a higher price than the market price rate. But the thing there is what kind of people would like to buy at a higher rate that is above market price?Well, let me guess– traders or newbies? maybe one of them. I know some exchangers will buy from people at a price below the market price and then sell to others at a higher price rate.

adaseb

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This is not a good idea.

Basically today there was a trial where some local Bitcoin user was charged with money laundering because he did run a money transmitter business without a license.

If you want to cash out and not deal with these issues just use an exchange or sell it at the spot market value and not with a mark up.

Makrochain

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Quote from: viking02 on July 22, 2017, 06:36:44 PM

If you could get bitcoin at a certain price and then sell it to another exchange or person... how profitable would this be? For example bitcoin is 2500 a coin. You get them at 2500 a coin. Localbitcoins it seems like ppl who buy bitcoin actually offer you more than 2500 per coin right? If thats the case, why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit? The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user. Does anyone know how much money ppl are buying over the market price for bitcoin on localbitcoins? For example if price is 2500... are people paying like 3 percent for it? Thus 2575 etc for a coin? Or is it the other way around? Because i recalled didn't people sell bitcoin at face value or actually get less than face value? But since bitcoin gotten really big, its actually worth more than cash value?

We can see that bitcoin prices are recovering in the last few days, so for that reason we should always monitor the market to be able to sell bitcoin at the highest price. With the current price increase, I think the bitcoin price will probably hit $ 12,000 in the coming days, so at this point it should keep the bitcoin rather than sell it off.

Btc_1856

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Now it is not the good way to withdraw Bitcoin at this price because we know with a month or two the price of Bitcoin will increase. When we find potential in Bitcoin we to hold them for some time in order to make more profit when price increases.

strongwarrior238

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Quote from: viking02 on July 22, 2017, 06:36:44 PM

If you could get bitcoin at a certain price and then sell it to another exchange or person... how profitable would this be? For example bitcoin is 2500 a coin. You get them at 2500 a coin. Localbitcoins it seems like ppl who buy bitcoin actually offer you more than 2500 per coin right? If thats the case, why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit? The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user. Does anyone know how much money ppl are buying over the market price for bitcoin on localbitcoins? For example if price is 2500... are people paying like 3 percent for it? Thus 2575 etc for a coin? Or is it the other way around? Because i recalled didn't people sell bitcoin at face value or actually get less than face value? But since bitcoin gotten really big, its actually worth more than cash value?

I believe the price of bitcoin at the moment is very suitable for us to buy. Now after recovering to $ 11,800, bitcoin prices have started to fall sharply above $ 2,000 at the current $ 9600 level and are continuing to correct. So this is the time for us to buy commercial bitcoin, surfing short.

OriginTrain

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As other have stated, your biggest risk here is the time delay before finding a buyer. Sure you may have a 3%-10% markup, but how many days do you know that BTC hasn't dropped or raised more than 3-10%? It's an extremely volatile asset thus the profit you are thinking of is offset by the high risks involved in volatility.

jerry0

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Anyone?

jerry0

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Does anyone know what is best site/way to sell btc at markup price? Thus if you sell it to coinbase/gdax and gemini there is a small fee. But with the other method you get money on top. So localbitcoins is best to do this?

The other thing is wouldn't it make sense to just buy btc through gdax/gemini... then sell it to someone at markup? However, you make sure the price is locked at the same rate or a bit higher? If you could sell it at 5 percent, isn't that worth it?

jerry0

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Are there really people that are paying 5 percent or more extra on top of the fees to buy btc on coinbase/gdax/gemini?

If thats the case, couldn't someone just buy btc there... then sell it to the other person at the agreed upon price? Like imagine a person says they are looking for btc and then you check the price. Then the other person agrees to buy from you at a certain rate plus 5 percent. You then immediately go and buy btc on coinbase/gdax/gemini. Then they sell it to the other person at agreed upon price plus 5 percent or more. Wouldn't this work? And do this quite a bit then you make money off the percentage? Say you buy 10k in btc on gdax. Someone pays you 10500. They deposit cash in your bank account or wire you the money etc.

jerry0

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Is it hard/easy to buy bitcoin on gdax/gemini and then look for a buyer on local bitcoin who would pay you by depositing cash in your bank account?

jerry0

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So would this work here or not? Say you have a few people who wants to buy bitcoin and they would message you such as do you have any bitcoin. You say yes and they willing to give you 2 percent on top. Then you look at the price on bittrex for example. Then you tell them the price and say you use bittrex. Such as okay it will be this amount plus 2 percent so this much total USD you send me and i will send you x.xx amount btc okay? then once he say yes... you buy the btc on bittrex. Then he send you the usd transfer, then you send him the btc. So would this work or not if u using bittrex to buy btc then? And if so, that means u need usd on bittrex?

logicgate

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Quote from: Fatunad on September 07, 2017, 08:41:52 AM

Quote from: amaral1977 on September 07, 2017, 08:36:06 AM

Quote from: viking02 on September 06, 2017, 11:09:30 AM

So are buying/selling prices roughly the same then?

Can you tell me what is the buy price of btc on bittrex right? And tell me what is the btc to usd price on google when you check on bittrex? Im curious how far is the price difference? Because if its the same... then couldnt i just make profit if someone is willing to pay me 2 percent extra? Like if they want 1 btc... i check price on bittrex. Then i tell them okay its this price + 2 percent so this much? However i would like to use the btc to usd rate on google though because thats how i usually do it with ppl i trade with. So would this work? Like once he agrees, then i immediately buy the btc on bittrex. Then he sends me the money online...then i send him that amount of btc etc? Thus its not like im buying and waiting to sell for 2 percent more. Im waiting for someone to tell me i want to buy btc now...do you have? Then i check bittrex and say sure... price is this plus 2 percent. Then they agree and pay me money, then i send btc. So wouldnt i make around 2 percent less the fees? Thus every 1000 dollars of btc i buy and sell to that person, wouldnt i make around 18 dollars or so?

If you head to the marketplace on this forum you will notice lots off advertisements stating they are selling or buying "preev+ x%". Preev is one of the most used price indicators around the forum, but you can use whatever price you choose. It is usual to "lock" the price once you agree on a transation so that you cant delay a transation because you are waiting for the prce change. So someone would send you a message saying " ok, we agree that i sell 0,5 BTC for 2000$. and even if the price changes the next minutes hours your transation is a the agreed price. If you can provide a service here selling and buying BTC , yes you can make a profit.

The thing you said was right on which most sellers on here do really prefer or basing on preev.com price plus on the interest they do set in and as being said even the price moves if the deal was on that price point then it doesnt really matter even the price would moved up or down.Its would really be still the same.On this way buying selling might really be profitable for you if you do really know on what you are doing.

Yes if you are smart with buying and selling, you can make decent money here just by some smart moves. The factor that deal price does not change can really do you favor if used properly, that’s why people enjoy trading because here they can make profit on daily basis by some good market analysis.

viking02

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Hey all. So if i do this on bittrex, i would have to get USDT right? Then once i have usdt... i buy bitcoin... then i could sell it for 2 percent over market price and make profit?

For example it shows btc price is 4598.70 now on google btc to usd

On bittrex, it shows price as 4580 for the bid price. Thus someone is offering it at 4580.00. And it shows the total price to be 4591.45.

So that would mean i could sell it to someone at 4598.70 + 2 percent = 4690.44

4690.44 - 4591.45 = 98.99.

So that means i would make $98.99 per every bitcoin i can buy/sell at these prices right?

Fatunad

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Quote from: amaral1977 on September 07, 2017, 08:36:06 AM

Quote from: viking02 on September 06, 2017, 11:09:30 AM

So are buying/selling prices roughly the same then?

Can you tell me what is the buy price of btc on bittrex right? And tell me what is the btc to usd price on google when you check on bittrex? Im curious how far is the price difference? Because if its the same... then couldnt i just make profit if someone is willing to pay me 2 percent extra? Like if they want 1 btc... i check price on bittrex. Then i tell them okay its this price + 2 percent so this much? However i would like to use the btc to usd rate on google though because thats how i usually do it with ppl i trade with. So would this work? Like once he agrees, then i immediately buy the btc on bittrex. Then he sends me the money online...then i send him that amount of btc etc? Thus its not like im buying and waiting to sell for 2 percent more. Im waiting for someone to tell me i want to buy btc now...do you have? Then i check bittrex and say sure... price is this plus 2 percent. Then they agree and pay me money, then i send btc. So wouldnt i make around 2 percent less the fees? Thus every 1000 dollars of btc i buy and sell to that person, wouldnt i make around 18 dollars or so?

If you head to the marketplace on this forum you will notice lots off advertisements stating they are selling or buying "preev+ x%". Preev is one of the most used price indicators around the forum, but you can use whatever price you choose. It is usual to "lock" the price once you agree on a transation so that you cant delay a transation because you are waiting for the prce change. So someone would send you a message saying " ok, we agree that i sell 0,5 BTC for 2000$. and even if the price changes the next minutes hours your transation is a the agreed price. If you can provide a service here selling and buying BTC , yes you can make a profit.

The thing you said was right on which most sellers on here do really prefer or basing on preev.com price plus on the interest they do set in and as being said even the price moves if the deal was on that price point then it doesnt really matter even the price would moved up or down.Its would really be still the same.On this way buying selling might really be profitable for you if you do really know on what you are doing.

amaral1977

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Quote from: viking02 on September 06, 2017, 11:09:30 AM

So are buying/selling prices roughly the same then?

Can you tell me what is the buy price of btc on bittrex right? And tell me what is the btc to usd price on google when you check on bittrex? Im curious how far is the price difference? Because if its the same... then couldnt i just make profit if someone is willing to pay me 2 percent extra? Like if they want 1 btc... i check price on bittrex. Then i tell them okay its this price + 2 percent so this much? However i would like to use the btc to usd rate on google though because thats how i usually do it with ppl i trade with. So would this work? Like once he agrees, then i immediately buy the btc on bittrex. Then he sends me the money online...then i send him that amount of btc etc? Thus its not like im buying and waiting to sell for 2 percent more. Im waiting for someone to tell me i want to buy btc now...do you have? Then i check bittrex and say sure... price is this plus 2 percent. Then they agree and pay me money, then i send btc. So wouldnt i make around 2 percent less the fees? Thus every 1000 dollars of btc i buy and sell to that person, wouldnt i make around 18 dollars or so?

If you head to the marketplace on this forum you will notice lots off advertisements stating they are selling or buying "preev+ x%". Preev is one of the most used price indicators around the forum, but you can use whatever price you choose. It is usual to "lock" the price once you agree on a transation so that you cant delay a transation because you are waiting for the prce change. So someone would send you a message saying " ok, we agree that i sell 0,5 BTC for 2000$. and even if the price changes the next minutes hours your transation is a the agreed price. If you can provide a service here selling and buying BTC , yes you can make a profit.

viking02

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So are buying/selling prices roughly the same then?

Can you tell me what is the buy price of btc on bittrex right? And tell me what is the btc to usd price on google when you check on bittrex? Im curious how far is the price difference? Because if its the same... then couldnt i just make profit if someone is willing to pay me 2 percent extra? Like if they want 1 btc... i check price on bittrex. Then i tell them okay its this price + 2 percent so this much? However i would like to use the btc to usd rate on google though because thats how i usually do it with ppl i trade with. So would this work? Like once he agrees, then i immediately buy the btc on bittrex. Then he sends me the money online...then i send him that amount of btc etc? Thus its not like im buying and waiting to sell for 2 percent more. Im waiting for someone to tell me i want to buy btc now...do you have? Then i check bittrex and say sure... price is this plus 2 percent. Then they agree and pay me money, then i send btc. So wouldnt i make around 2 percent less the fees? Thus every 1000 dollars of btc i buy and sell to that person, wouldnt i make around 18 dollars or so?

Topic: Selling Bitcoin Over Market Price? (Read 1941 times)