Make profit using different exchanges?

[dothebeats]

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

Also note that your eyes need to follow those orders before they go quickly. It's not always the speed of the hand, sometimes it requires your eyesight more than what your hand can do. Hand-eye coordination is important in doing this kind of trades.

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

I suggest you buy coins that has the high volume on an exchange and sell when you think that you've already made a profit. Be warned that this is not an easy way of earning money. It requires speed, timing, skill, and luck.

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.

Yes, risks are always present in any opportunity that involves money, but what are those risks when you can make a profit out of it. If you're not confident on what you're doing, then try to stay away from it before getting burned in the end. There are always risks present in investing and trading, but you have to learn to minimize those risks in order for you to get a nice and sweet profit.

[Jeremycoin]

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.

Wow, I never think of that since I started to do BTCitcoin trade. It's a great idea, how can I don't think about it. Thx for the explanation and the advice sir

[kinnu]

That is called arbitrage but check their charges for buying and selling.

[Bitcoin Explorer]

Basically, this is arbitrage, buying at a place where the price is high and selling where it is low. I've written an article for btcfeed(now themerkle). Have a look at it.
http://themerkle.com/tutorials/bitcoin-arbitrage-brief-insight/

[majeis]

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.

Wow, I never think of that since I started to do BTCitcoin trade. It's a great idea, how can I don't think about it. Thx for the explanation and the advice sir

It's almost entirely pointless doing that unless you're constantly moving large sums of money since there are already so many other people doing it that it's only barely profitable.

There's also a significant delay when depositing, and the windows for potential arbitrage can be only seconds-long. You'd probably be better off doing some kind of triangular arbitrage with a bot between pairs existing on the same exchange, but even that's probably already too saturated to the point that it feels like you're fighting against the exchange itself.

[josef2000]

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.

Wow, I never think of that since I started to do BTCitcoin trade. It's a great idea, how can I don't think about it. Thx for the explanation and the advice sir

It's almost entirely pointless doing that unless you're constantly moving large sums of money since there are already so many other people doing it that it's only barely profitable.

There's also a significant delay when depositing, and the windows for potential arbitrage can be only seconds-long. You'd probably be better off doing some kind of triangular arbitrage with a bot between pairs existing on the same exchange, but even that's probably already too saturated to the point that it feels like you're fighting against the exchange itself.

Well, I have tried the method now with some altcoins that hardly anyone knows. It was the only ones that had potential to get me money. But because no one knows it, the confirmations took days... And within that time the prices crash and rise every now and then.
So it isnt worth doing it, iI have lost a lot of money with that.
But maybe someone knows how to do it and make tons of profit, who knows?

[Bitcoin Explorer]

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.

Wow, I never think of that since I started to do BTCitcoin trade. It's a great idea, how can I don't think about it. Thx for the explanation and the advice sir

It's almost entirely pointless doing that unless you're constantly moving large sums of money since there are already so many other people doing it that it's only barely profitable.

There's also a significant delay when depositing, and the windows for potential arbitrage can be only seconds-long. You'd probably be better off doing some kind of triangular arbitrage with a bot between pairs existing on the same exchange, but even that's probably already too saturated to the point that it feels like you're fighting against the exchange itself.

Well, I have tried the method now with some altcoins that hardly anyone knows. It was the only ones that had potential to get me money. But because no one knows it, the confirmations took days... And within that time the prices crash and rise every now and then.
So it isnt worth doing it, iI have lost a lot of money with that.
But maybe someone knows how to do it and make tons of profit, who knows?

If you're into BTC /USD arbitrage, you did have btc in both the exchanges already, and even fiat, so whenever there's a major difference in the price, you can buy and sell with ease

[lucasjkr]

That's arbitrage.

You can't make much, due to the time it takes to move fiat around, but you can certainly wire money into the exchange that posts the lowest buy price, buy, then transfer the coins to the exchange with the highest sell price, and sell there. Then you're either stuck waiting days on end for ACH transfers, or paying a bit for domestic or potentially international wire transfers.

So, if you're a small player, trying to profit off of a arbitraging a couple coins once in a while, sure.... so long as you can get the cash to and from the exchanges in question. But unless you're a BIG player and can negotiate different relationships with exchanges than standard, it's going to be a real pain to do this in a high turnover sort of way.

[sikaxchange]

you should understand clearly that the price might actually change it could rise or it could fall just likethe change in dollar rate

[coinpr0n]

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.

Wow, I never think of that since I started to do BTCitcoin trade. It's a great idea, how can I don't think about it. Thx for the explanation and the advice sir

It's almost entirely pointless doing that unless you're constantly moving large sums of money since there are already so many other people doing it that it's only barely profitable.

There's also a significant delay when depositing, and the windows for potential arbitrage can be only seconds-long. You'd probably be better off doing some kind of triangular arbitrage with a bot between pairs existing on the same exchange, but even that's probably already too saturated to the point that it feels like you're fighting against the exchange itself.

Well, I have tried the method now with some altcoins that hardly anyone knows. It was the only ones that had potential to get me money. But because no one knows it, the confirmations took days... And within that time the prices crash and rise every now and then.
So it isnt worth doing it, iI have lost a lot of money with that.
But maybe someone knows how to do it and make tons of profit, who knows?

If you're into BTC /USD arbitrage, you did have btc in both the exchanges already, and even fiat, so whenever there's a major difference in the price, you can buy and sell with ease

This has been my point I've tried to get across at least 3 times in this thread already. All people saying that it doesn't work because of the time it takes to move fiat and/or coins around is too long: You are missing the point. To properly execute an arbitrage you already have the funds waiting at both exchanges. Trade on difference, and keep the books clean. Of course it doesn't work if you're trying to move funds around.

[btc-facebook]

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!

I think this will not make any significant profit since every withdraw succession , you need to pay a fee.
And then every exchanger has different fee on it's buy and sell option. Next thing, mostly altcoin move active fluctuation so it's kindda hard.
You need really much effort for doing this. For me I'm better predict it's price using his chart and pray (hope I got huge profit)

[Orhan1337]

you can't withdraw fiat from Hitbtc... They froze the withdrawals so it won't work.

[--Encrypted--]

eh. making profit by doing arbitrage on crypto market is way too hard IMO, the price stabilize too fast.
it was far easier in 2013.. that or I was just lucky.

[hacksmash]

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!

A lot of the answers here are focusing on Arbitrage...but there is another point to consider.
If you ONLY open 1 account on 1 Exchange, you are severely limiting yourself. This is where an Exchange's Volume comes into play.
An Exchange with HUGE volume is moving much faster than one with a lower Volume.

Comparison shopping is also important. Shop around for where the price is best (either buying or selling).

[CrackedLogic]

Yes you can, as you're aware that the method you're talking about is called Arbitrage.

If you ever do think of trying it out, make sure the difference between the exchanges are big enough for a decent profit and as well as trading and withdraw fees.
You don't want to cash out and finding out that you've made a small loss after withdrawal fees.

You can always try this with Altcoins, however if you don't know how to manipulate the market to your liking, you're going to have a hard time pulling a profit. Altcoins are always arbitraged and the difference between exchanges are small if there is a difference.

[caspion1234]

i just lost money using this method, not recommended, better to short, you gain more

[TrianglePythagoras]

i just lost money using this method, not recommended, better to short, you gain more

What did you do wrong? was it your fees?

[CoinFriend]

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!

Hi,
like the other users mentioned before, this is called arbitrage.
And i do this kind of trade every day, but not with fiat currency. I don't like Dollar, Euro, Ruble, Yen and so on.
I use the price difference of altcoins between the markets of different cryptocurrency exchanges to generate a profit

[Bitcoin Explorer]

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!

Hi,
like the other users mentioned before, this is called arbitrage.
And i do this kind of trade every day, but not with fiat currency. I don't like Dollar, Euro, Ruble, Yen and so on.
I use the price difference of altcoins between the markets of different cryptocurrency exchanges to generate a profit

Considering the fact that altcoins have less margin most of the times, how much do you generally make? I have been experimenting with it for the last 30 minutes or so

[CoinFriend]

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!

Hi,
like the other users mentioned before, this is called arbitrage.
And i do this kind of trade every day, but not with fiat currency. I don't like Dollar, Euro, Ruble, Yen and so on.
I use the price difference of altcoins between the markets of different cryptocurrency exchanges to generate a profit

Considering the fact that altcoins have less margin most of the times, how much do you generally make? I have been experimenting with it for the last 30 minutes or so

It's not easy to say how much is generally possible. And I use different kinds of trades and strategies, not only arbitrage. And I like the small trading fees which the exchange offer and the withdrawal fee is also not really high in comparison with trading fiat.

I recommend for the beginning to trade with small amounts only, to have less loses if something goes wrong.
I trade bitcoin with altcoins now around 2 years. I started with experimenting, like you. And i have done mistakes at the beginning. I lost coins due to inattention for my side and also due to scammy exchanges. But this is all a process of learning and after two years i have a lot more BTC as in my first days. A lot more! Actually i started trading with only few altcoins wich i have mined (some ANC and DGC).

Over the time i developed strategies to profit from and strategies to keep the coins safe. For some kinds of trades i have as minimum goal for profit, only the double which i have to pay for the fees. This is a small profit of only few %. But enough to do arbitrage. And the reward increases with the volume of coins i move...

And sometimes i have a little luck. For example few weeks ago on c-cex, someone filled a order which i placed someday. It was on the SONG/LTC market and i bought 500 SONG with only 0.0125225 LTC (this is less than 0.00001000 BTC).
The 500 SONG coins i sold on BTC market at a price of 0.00000700 BTC per SONG! This was only one of my highest profits this year

Which exchanges do you use for experimenting and which coins?