Make profit using different exchanges?

[josef2000]

Hi

I realized that prices from all exchanges are different, but could you actually make profit from this?
For example:
Price of Hitbtc is 240$/btc, however the price of bitstamp is 220$. So is it somehow possible to buy tons of bitcoins from bitstamp and sell it at hitbtc for a 20$ profit per Bitcoin?

I dont have that much money to invest though, so I didnt try.
Tell me your opinions!

[DarkHyudrA]

http://en.wikipedia.org/wiki/Arbitrage
This idea is more old than you.

Remember that to make this you need to move fiat, and this means a few days to finish the whole process, so there's the risk of the price falling even more.

[SpanishSoldier]

Hi

I realized that prices from all exchanges are different, but could you actually make profit from this?
For example:
Price of Hitbtc is 240$/btc, however the price of bitstamp is 220$. So is it somehow possible to buy tons of bitcoins from bitstamp and sell it at hitbtc for a 20$ profit per Bitcoin?

I dont have that much money to invest though, so I didnt try.
Tell me your opinions!

Yes. This is called Arbitrage. To do this, you need to have FIAT deposited in the exchange from where you are buying. Else the price will vary when you move the FIAT.

[Jakesy]

Arbitrage.

If you search there are bots for this as well.

[coinpr0n]

Yes that's basically the point of arbitrage. Although with 3 or 6 confirmations on most exchanges you would probably have to prefund the separate accounts prior to trading.

[Sithara007]

Hi

I realized that prices from all exchanges are different, but could you actually make profit from this?
For example:
Price of Hitbtc is 240$/btc, however the price of bitstamp is 220$. So is it somehow possible to buy tons of bitcoins from bitstamp and sell it at hitbtc for a 20$ profit per Bitcoin?

I dont have that much money to invest though, so I didnt try.
Tell me your opinions!

Not practical. The buying and selling will take time and in that much time prices may change and you will be in loss instead of profit.

[olcaytu2005]

 You don't need to have fiat money to do this arbitrage. You can do that with altcoins. bitcoin and altcoins move faster than fiat money. you dont need to wait for days like fiat money. For example;

(This is not true value, it s just a simple example)

Bter: XEM  62 satoshi
Polo: XEM  80 satoshi

 if you have bitcoin in Bter you can buy XEM and send them Poloniex then you can sell them at that price 80 sat. So you get about %30 profit.

[acquafredda]

Hi

I realized that prices from all exchanges are different, but could you actually make profit from this?
For example:
Price of Hitbtc is 240$/btc, however the price of bitstamp is 220$. So is it somehow possible to buy tons of bitcoins from bitstamp and sell it at hitbtc for a 20$ profit per Bitcoin?

I dont have that much money to invest though, so I didnt try.
Tell me your opinions!

If the market is like now and there are this "funny" up and dows around 20$ I would say yes and I tried it already. It works. But as others said you also have to move fiat money which is slower than BTC.
And sometimes while you wait you also lose opportunities.

So yes it's possible, it's arbitrage but only whales make money out of it.
 

EDIT: or as olcaytu2005 said you could try with altcoins...

[JayCoDon]

The goal is speed. The altcoin option presented above is a very interesting way of getting it done. Definitely interesting.

[LiteCoinGuy]

http://en.wikipedia.org/wiki/Arbitrage
This idea is more old than you.

Remember that to make this you need to move fiat, and this means a few days to finish the whole process, so there's the risk of the price falling even more.

this is the never ending money making idea 

[josef2000]

So you could actually invest all your money in this arbitage-method and always make profit out of it or is there a risk?
By risk I dont mean like the risk investing in a ponzi or lotto, I mean is it somehow illegal etc

[manselr]

The goal is speed. The altcoin option presented above is a very interesting way of getting it done. Definitely interesting.

Altcoins are less liquid and it takes a lot of time sometimes to transport your BTC in some of the exchanges anyway.

[SpanishSoldier]

So you could actually invest all your money in this arbitage-method and always make profit out of it or is there a risk?
By risk I dont mean like the risk investing in a ponzi or lotto, I mean is it somehow illegal etc

If it were illegal then the whole Wall Street operation is illegal.

[ashour]

This would rarely work since you need to move coins quick between exchanges before the price changes. And since more exchanges require a 3 to 6 confirmations to allow to sell your coins but you can still try it out and see what happens. Good luck !

[ikydesu]

Your hands speed is the main point
yes i ever do that once(with altcoin), but the market is so fast, my hand cant follow the trend and i only get double fees.


~iki

[oblivi]

Some people make a living out of that, but it's a very slave job, you need to pay attention all day, and be really good at trading, and the most important, having a lot of luck.

[trafficolaa]

that is not a good idea and much risk involve in that kind of trading i also did that kind of trade but i think that is just waste of time, so hard to make decent money from Arbitrage.

[ashour]

This could work for altcoins as well but the risk is higher for altcoins since their prices aren't as stable as the bitcoin's one. Maybe try other methods to earn profit that aren't as risky as this is method is.

[98problems]

i tried to buy altcoins on 1 exchange and then sell it on another but i never made any profits thats nearly impossible if you dont have bunch of money

[olcaytu2005]

i tried to buy altcoins on 1 exchange and then sell it on another but i never made any profits thats nearly impossible if you dont have bunch of money

if you find a chance you can earn some profit. once i bought a coin(DTC/BTC) on BTER, named  Datacoin . and i sold it on BTER at the rate of (DTC/CNY). i used same exchange but different currency and i earned %45 profit within 4 days. another example; i bought some XCN on BTER and instantly i moved them Poloniex and sold them with %20 profit. So if you follow the markets as well as enough you can see arbitrage chances. if you find a high volume coin then you can earn much more.