Transferring USD between exchanges | Bitcointalksearch.org

Gareth Nelson

hero member

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Quote from: xerces8 on May 06, 2013, 11:11:42 AM

I mentioned it already in this thread, but I guess here is more audience:
a similar service to transfer bitcoins between markets?

because the regular way by BTC transaction can take an hour or even more.

Thanks in any case,
David

We've looked into providing this service but it's more complex to setup on the regulatory side of things - yes, i'm aware of how silly that is.

From a technical viewpoint it's not difficult at all, but on the legal side it involves currency exchange and that's a bit more complex.

xerces8

newbie

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I mentioned it already in this thread, but I guess here is more audience:
a similar service to transfer bitcoins between markets?

because the regular way by BTC transaction can take an hour or even more.

Thanks in any case,
David

TeqnoHaxor

newbie

Activity: 39

Merit: 0

Quote from: Gareth Nelson on May 05, 2013, 09:37:58 AM

Most likely the gap is closed because of arbitrage and services such as ours or aurumXchange. Arbitrage generates profit essentially by feeding on the difference.

Undoubtedly. And yes, that is what this thread is about

I'm sick of Mt.Gox's fees and the way they're implemented, I can't withdraw, transfer out, or buy BTC without paying some sort of fee. That figure in my wallet is misleading - like false advertising.

Gareth Nelson

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Merit: 503

Quote from: TeqnoHaxor on May 04, 2013, 10:19:58 PM

OK, so from Mt.Gox USD to BTC-e

aurumXchange charge 4.00%
BitInstant charge 3.99%

Some quick calculations for reference

110 - 105.60
120 - 115.20
130 - 124.80
140 - 134.40
150 - 144.00

I've noticed there doesn't seem to be as large a gap between Mt.Gox and BTC-e of late, so unless the fees come down there is now little use in this service.

Most likely the gap is closed because of arbitrage and services such as ours or aurumXchange. Arbitrage generates profit essentially by feeding on the difference.

TeqnoHaxor

newbie

Activity: 39

Merit: 0

OK, so from Mt.Gox USD to BTC-e

aurumXchange charge 4.00%
BitInstant charge 3.99%

Some quick calculations for reference

110 - 105.60
120 - 115.20
130 - 124.80
140 - 134.40
150 - 144.00

I've noticed there doesn't seem to be as large a gap between Mt.Gox and BTC-e of late, so unless the fees come down there is now little use in this service.

Gareth Nelson

hero member

Activity: 721

Merit: 503

Same here, we have btc-e enabled right now but do have to disable it at times when reserves run out

xerces8

newbie

Activity: 28

Merit: 0

https://www.aurumxchange.com/rates
https://www.aurumxchange.com/exchange

they don't list BTC-e as a destination any more.

I guess this changes every week or so. Wink

TeqnoHaxor

newbie

Activity: 39

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I've made a start..

https://i.imgur.com/fMAcsUA.jpg

TeqnoHaxor

newbie

Activity: 39

Merit: 0

Oh look, it's THIS thread again...

So I have BTC and USD scattered across various exchanges (BTC-e, Mt.Gox etc). I can easily consolidate by buying BTC and withdrawing to my personal wallet, but this isn't financially optimal due to the varying exchange rates. I'm curious if anyone has devised a compatibility matrix of the various e-currency exchange services. For example, BitInstant seem happy to transfer from Mt.Gox to BitStamp, but not to BTC-e, aurumXchange will transfer from BitStamp to BTC-e, but not from Mt.Gox to anything (apparently).

Would I be correct in assuming that to transfer USD out of Mt.Gox you have to be verified? I can find literally nothing on Mt.Gox coupons/vouchers - their FAQ only briefly describes redemption for adding funds (not withdrawing).

Topic: Transferring USD between exchanges (Read 1349 times)