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Topic: Trading Bitcoin For Profit With Different Buyers? (Read 1461 times)

sr. member
Activity: 364
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I'm sure there are people that do this but most of the time you pay a fee for buying so you would then have to find someone that wants to buy from you that can't get the bitcoins for the price plus fee that you paid. That may be hard to do and to make much money at it.
hero member
Activity: 770
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anyone here?  I will like to do this soon as i have bitcoin and like to sell.
hero member
Activity: 770
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Well i know about coinbase and circle.  Coinbase has a 1 percent fee and circle doesn't.  But from what i read, isn't it true eventually your accounts will be shut down?  Thus if you withdraw max of 3k to your bank acct every week from circle, wouldn't this eventually happen?  Or do you withdraw smaller amounts and do it once every other week to prevent this?


The thing is i would like to be able to sell bitcoin for profit for a vig.  I am able to acquire bitcoin where i pay no vig/fee as you want to put it.


Is there a list of ppl here that are reputable for this?  Thus if i could sell bitcoin to someone for 2 percent, that is decent for me.
legendary
Activity: 2968
Merit: 1133
Heres another thing i wanted to ask.  Couldn't you buy bitcoin from circle or coinbase... then sell the bitcoin on localbitcoins for a profit due to the prices?  I heard someone mentioned a while back circle or coinbase not sure which one would ban you if they think you are buying bitcoin only to sell it later on, on localbitcoins for a profit.  Is this true or not?


Example say bitcoin is $450 on circle.  Typically how much the buyer of bitcoin buy 1 bitcoin via localbitcoins?  Because even if they buy it for 2 percent vig... thats good if they buy a lot.


Also one time when i cashed out bitcoin to my bank acct via circle... i notice the btc price circle was buying from me higher than from coinbase.  coinbase also charges 1 percent.  So in a way, isn't it sorta profitable to acquire bitcoin at regular price with no vig... then sell it at circle where you make a small profit?  Im just assuming here but i recalled the one time i sold bitcoin to circle... the price was higher than the price when i googled btc to usd.  Does anyone know if this holds true or not or it was rare occassion.

Why are you asking that much questions? Just do it.
But about coinbase see here: https://support.coinbase.com/customer/portal/articles/1905681-localbitcoins-and-coinbase
hero member
Activity: 770
Merit: 500
🌟 COMSA ICO: 10/02/17 🌟
Heres another thing i wanted to ask.  Couldn't you buy bitcoin from circle or coinbase... then sell the bitcoin on localbitcoins for a profit due to the prices?  I heard someone mentioned a while back circle or coinbase not sure which one would ban you if they think you are buying bitcoin only to sell it later on, on localbitcoins for a profit.  Is this true or not?


Example say bitcoin is $450 on circle.  Typically how much the buyer of bitcoin buy 1 bitcoin via localbitcoins?  Because even if they buy it for 2 percent vig... thats good if they buy a lot.


Also one time when i cashed out bitcoin to my bank acct via circle... i notice the btc price circle was buying from me higher than from coinbase.  coinbase also charges 1 percent.  So in a way, isn't it sorta profitable to acquire bitcoin at regular price with no vig... then sell it at circle where you make a small profit?  Im just assuming here but i recalled the one time i sold bitcoin to circle... the price was higher than the price when i googled btc to usd.  Does anyone know if this holds true or not or it was rare occassion.
hero member
Activity: 546
Merit: 500
Can you briefly explain the same thing with huge spread in price? 

for example if the bitcoin price on exchangers are $420 at the moment, they will sell bitcoin at more than $430 and they will only sell bitcoin at $410 which makes a $20 difference.

although this $20 varies from time to time and person to person

Quote
What country are you located in where the bank transfer has no charge back. 

maybe the method is called something else in English. anyways for charge back you will have to go through the bank by going to a branch an officially ask for it with a complicated process.
You must watch out for scammers. But the best thing is just make some good profit everytime. that is the best way.
And the value will be more in the future so that will be also good for trading, than you can make also more money.
hero member
Activity: 770
Merit: 500
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Many users do it. They buy bitcoins via their bank and then sell it for PayPal (earning at least 10-20% profit) but that is also risky due to PayPal chargebacks. People who buy via bank transfer also can cheat by using hacked accounts.


Did this happen to you or you just heard about this?  For example you mean if someone sends boa online... and then it later gets reversed because the original account holder would then say their account got hacked right? 


so how does one counter this then if someone is sending you bank transfer?  do a real time skype with them and have their ID as well to make sure that is really them?  Because that seems to be the only way it seems?


but wire transfers are hard to get reversed right?  However if a bank acct is hacked and someone does an online wire, well thats sort of like a bank transfer still isn't it?
legendary
Activity: 1092
Merit: 1000
Many users do it. They buy bitcoins via their bank and then sell it for PayPal (earning at least 10-20% profit) but that is also risky due to PayPal chargebacks. People who buy via bank transfer also can cheat by using hacked accounts.

Selling in public without proper verification of there source of funds will be quite risky for the buyers. Now a days, there are many people are eagerly waiting to scam people. If just lose money should be ok but if it put you in some other issues than it will be bigger issue. So carefully accept payments from unknown guys,
hero member
Activity: 2688
Merit: 588
Many users do it. They buy bitcoins via their bank and then sell it for PayPal (earning at least 10-20% profit) but that is also risky due to PayPal chargebacks. People who buy via bank transfer also can cheat by using hacked accounts.
sr. member
Activity: 434
Merit: 250
I have tried this method in the past and I ended up losing. Just one day trades are not much profitable compared to long term trades and it is better to hold the bitcoins and sell them when you have earned a good profit rather than at the same price.

Please try Bitfinex and kraken I guess there is no big difference in rate chart.
Very low percentage to sell or buy the bitcoins. I think 0.2 percent fee consumptions.
legendary
Activity: 1204
Merit: 1028
I have tried this method in the past and I ended up losing. Just one day trades are not much profitable compared to long term trades and it is better to hold the bitcoins and sell them when you have earned a good profit rather than at the same price.
legendary
Activity: 4522
Merit: 3426
Can someone tell me the exact payment methods they receive selling bitcoin so they can sell bitcoins and not worry about chargeback/fraud etc?

This is a good guide to the risks of the various payment methods: https://localbitcoins.com/guides/how-to-sell-bitcoins-online#toc3
hero member
Activity: 938
Merit: 1001
Can someone tell me the exact payment methods they receive selling bitcoin so they can sell bitcoins and not worry about chargeback/fraud etc?

No

Please stop asking for people to give you everything. What you are asking is not very complicated. Buy as low as possible and sell as high as possible.

Read the Currency Exchange sub-forum to see what methods people us to buy/sell.

Read this sub-forum to gain info on these methods.

Read the scam accusation threads to see the pitfalls.

hero member
Activity: 770
Merit: 500
🌟 COMSA ICO: 10/02/17 🌟
Can someone tell me the exact payment methods they receive selling bitcoin so they can sell bitcoins and not worry about chargeback/fraud etc?


legendary
Activity: 2632
Merit: 1094
I also trade in bitcoins and sometimes the profit is 5% while sometimes it's as high as 15% but I don't get buyers so fast. If you trade  on websites, you can earn profit only when the price increases but that's better than trading independently and searching for a buyer.
hero member
Activity: 770
Merit: 500
🌟 COMSA ICO: 10/02/17 🌟
but how do these ppl accept money from others where its not reversible then?  is webmoney and those other similar payments not reversible?


hero member
Activity: 770
Merit: 500
🌟 COMSA ICO: 10/02/17 🌟
you mean bank wire?
legendary
Activity: 3472
Merit: 10611
Can you briefly explain the same thing with huge spread in price? 

for example if the bitcoin price on exchangers are $420 at the moment, they will sell bitcoin at more than $430 and they will only sell bitcoin at $410 which makes a $20 difference.

although this $20 varies from time to time and person to person

Quote
What country are you located in where the bank transfer has no charge back. 

maybe the method is called something else in English. anyways for charge back you will have to go through the bank by going to a branch an officially ask for it with a complicated process.
copper member
Activity: 2394
Merit: 539
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You mean, whatever the price you buy, you will sell the price +1%??

In fact, it is feasible. As I know that a lot of people are doing like this, and the key is that you must have more channels and buyers.

If too more the wolf and too little the meat, you have to reduce your profits, so let your stockpile can be sold.
hero member
Activity: 770
Merit: 500
🌟 COMSA ICO: 10/02/17 🌟
Can you briefly explain the same thing with huge spread in price? 


What country are you located in where the bank transfer has no charge back. 
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