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1  Other / Beginners & Help / Re: Variances among prices on different sites on: November 27, 2013, 11:58:00 AM
I was discussing this with a friend the other day too.

Take BTC-E for example - you can deposit EUR via SEPA for a very small fee, so buying shouldn't be too hard?

deposit wire transfer $790
buy 1BTC @ $790 (example)
$790 for 0.998 (after trade fee)
withdraw to another exchange's deposit account - you now have 0.997 (after withdraw fee)
sell 0.997 @ $830 (example) on Bitfinex (or other exchange where its higher) = $826.62 (after trade fee)
withdraw wire transfer cost $10, leaving $816.62

Only $26 profit, but still, doable??

I know people in traditional fourex absolutely shitting themselves at a) the fees these exchanges charge, b) they offer no leveraged trading c) that there is such massive price variances between the exchanges and d) how insanely long it takes to get your money out. I believe over time we'll likely see as little as .04% variance between the exchanges including china. With a currency that can travel so freely and easily it's bound to happen. Then the exchanges will have to offer better features (instant access to funds, lower fees, leveraged buying, better interfaces) to remain competitive. It will happen very soon IMO.
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