Bitcoin Forum

Does anyone knows is it fine to do that? Sometimes we have chances to get one coin that is low in one exchange and port it over to another and sell if off. But after getting USD from the second exchange, is there any way to send USD over to the first exchange to do that? Thanks

Do you mean USDT (Tether)? Tether just like other crypto, this digital asset has wallet the same like other crypto, and you can send it by copy paste that wallet put in to first exchange . USDT is not fiat but they only have small volatility, and many trader use it when any big crash by move all crypto asset to USDT.

You already have your answer if it is USDT but if it is real USD one easy way to do it is to buy btc using the USD, and transfer the Bitcoin you bought to another exchange easily. If you are moving USD between exchanges that have doge deposits enabled and if the exchanges where the USD will come from and will be sent to have USD/DOGE pair, buy doge instead of btc to save money from fees(it can also be other coins, choose what's convenient for you).

I think that he was doing an arbitrage trading. It looks like he refers to the USD balance and not USDT. that means he must convert it to the crypto and then try to send it again to the another exchange site. Not all of exchange sites are accepting USDT and it looks like convert to the common crypto should become the best way,

Most likley you will have to withdraw to your bank account/credit card and then top up onto the second exchange. This might not be the best idea as you could end up waiting a bit longer and thus the opportunity to do arbitrage trade might not exist as things move very quickly. You can however still do arbitrage trades with crypto-to-crypto as most of the time you can simply withdraw coins from one exchange straight to another one, although then time needed for comfirmations will be something to think about.

Thanks so much for your sharing. Yeah I think the current best solution is to convert it to USDT instead of USD.

My initial concern is if Exchange A has Coin A at low price and I bought it, I will send to Exchange B and sell for USD.

But there is no real good way to send USD to exchange A unless I buy some coins at Exchange B which might not be a good choice.

So A good way might be sell it at USDT in exchange B and send USDT to exchange A and rinse and repeat.

Is it a good way to do as a trader?

Hmm USDT might not be a very good solution at the moment because the exchange have pretty low volume.

It seems one of the better solution is to look for 2 pairs of crypto to flip between both exchanges.

Is there by chance anyone good at doing this here?

I think converting it to USDT would not be the proper solution. You can try converting it to a cryptocurrency first. Then you can try for exchanging it.  :( :(

it's ok, but you should see at transfer fee in exchange, maybe it's so high, and the profit you get can be lose if you transfer many times.

Ok. I believe you have got your answer for the several comments. But I want to add that it might not be so profitable. Even there is a cost engaged in the process.

I don't think there is a way to do that. USD is different with USDT. with USDT, you can transfer it between exchanges because it has address.
but USD ? it doesn't have address. You just only can withdraw your USD to your bank account.

Then you can look for tokens from both exchanges.
You just need to transfer money through tokens.

The dollar on different exchanges is presented in the form of different crypto-currencies and has high commission for withdrawal.

See this information on those crypto-exchange exchanges on which you work

Yeah thanks alot.

Seems not an easy game :) found one place to sell but the place so far has no tokens that are cheap with volume to send to other exchange.

I guess USDT and USD are not good choices. Best is still convert to other crypto

Good day everyone.I personally transfer money on the exchange through different people who are engaged in the exchange of dollars for cryptocurrencies.There is even a service for the selection of the best exchangers in this direction bestchange.For this I recommend to use this site.

Well, if you want to do that there is an easy way to do that, you can buy BTC by using the USD. After that transfer the bitcoin to another exchange you bought. This will make the transaction easier.

From my perspective i feel they can use arbitrage trading. If anyone wants to convert it on crypto they can do this. There are only some exchange site work with USDT.

You should buy coins with your USD and then you transfer those coins that you have bought to the exchanges that you want the money to be at and then you can use it to buy whatever coins you want to. i want to let you know something, USD tether is not the same thing as USD so don't convert your money into it thinking it is the same thing as USD, it is not. Be careful out there.