calamar182 (OP)
Newbie
Offline
Activity: 58
Merit: 0
|
|
December 17, 2015, 06:18:06 PM |
|
Hello
Please I need to know one question and it's important
If I deposit 5000 eur via wire transfer to BTC-E (cheapest way for this amount) and I buy BTC then send to Bitstamp and sell BTC and withdraw to bank
If arbitrage between BTC E and BITSTAMP is 2% ( the 2% of 5000 =50 eur profit) rest 15 eur of wire trasnsfer and maybe 10 for costs and withdrawal, this is net profit of 25 eur
Can I do that continiously depositing in BTCE and withdraw in BITSTAMP? What is the bad part of this idea? the will stop you or what?
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
Videodrome
|
|
December 17, 2015, 06:21:17 PM |
|
Hello
Please I need to know one question and it's important
If I deposit 5000 eur via wire transfer to BTC-E (cheapest way for this amount) and I buy BTC then send to Bitstamp and sell BTC and withdraw to bank
If arbitrage between BTC E and BITSTAMP is 2% ( the 2% of 5000 =50 eur profit) rest 15 eur of wire trasnsfer and maybe 10 for costs and withdrawal, this is net profit of 25 eur
Can I do that continiously depositing in BTCE and withdraw in BITSTAMP?
OFC yes, 90% of the trading bots works on arbitrage
|
|
|
|
Quantus
Legendary
Offline
Activity: 883
Merit: 1005
|
|
December 17, 2015, 06:34:53 PM |
|
Its not without risk tho, a small movement in price in the wrong direction can still cause heavy losses.
|
(I am a 1MB block supporter who thinks all users should be using Full-Node clients) Avoid the XT shills, they only want to destroy bitcoin, their hubris and greed will destroy us. Know your adversary https://www.youtube.com/watch?v=BKorP55Aqvg
|
|
|
odolvlobo
Legendary
Offline
Activity: 4298
Merit: 3214
|
|
December 17, 2015, 07:04:27 PM |
|
Hello
Please I need to know one question and it's important
If I deposit 5000 eur via wire transfer to BTC-E (cheapest way for this amount) and I buy BTC then send to Bitstamp and sell BTC and withdraw to bank
If arbitrage between BTC E and BITSTAMP is 2% ( the 2% of 5000 =50 eur profit) rest 15 eur of wire trasnsfer and maybe 10 for costs and withdrawal, this is net profit of 25 eur
Can I do that continiously depositing in BTCE and withdraw in BITSTAMP? What is the bad part of this idea? the will stop you or what?
It works in general, but there are still some risks with your plan and you won't make as much as you expect in the end. For example, in the hour it takes to transfer the bitcoins from BTC-e to Bitstamp, the price could drop 2%.
|
Join an anti-signature campaign: Click ignore on the members of signature campaigns. PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
|
|
|
Raimonn
Legendary
Offline
Activity: 1456
Merit: 1001
|
|
December 17, 2015, 07:18:12 PM |
|
One of the problems that you can have is the time that takes the bank transference. You see an arbitrage oportunity, send the money by bank transference, and two days later, the oportunity disapears because the diferent price on both exchanges is low.
|
|
|
|
crazyivan
Legendary
Offline
Activity: 1652
Merit: 1007
DMD Diamond Making Money 4+ years! Join us!
|
|
December 17, 2015, 07:26:54 PM |
|
Not gonna work, the price tilts all the time and bank transfers take time.
|
|
|
|
Zeke2345
Member
Offline
Activity: 98
Merit: 10
★YoBit.Net★ 350+ Coins Exchange & Dice
|
|
December 17, 2015, 07:50:03 PM |
|
Not to hijack this thread but are there any good thread for learning this?
|
|
|
|
gentlemand
Legendary
Offline
Activity: 2590
Merit: 3013
Welt Am Draht
|
|
December 17, 2015, 09:00:41 PM |
|
BTC-e's Euro market is pretty tiny. A 5000 Euro buy on there might move the price a decent bit but it wouldn't budge an inch on somewhere like Kraken. You might totally screw yourself before you even got to do anything else. How quick is your deposit method?
|
|
|
|
bitcoinmar
|
|
December 17, 2015, 09:04:06 PM |
|
I don't think its going to work for you because BTC-e euro market is not quick as USD so you can lost in long run and then its very hard to recover this all you must think about your hard earned money then do any work like this
|
|
|
|
Amph
Legendary
Offline
Activity: 3206
Merit: 1069
|
|
December 18, 2015, 07:26:13 AM |
|
you need to use a bot, and btc-e is not euro friendly, you need sepa for that not a standard wire transfer, too damn slow
maybe you can find some arbitrage opportunity among the chinese exchange
|
|
|
|
crazyivan
Legendary
Offline
Activity: 1652
Merit: 1007
DMD Diamond Making Money 4+ years! Join us!
|
|
December 18, 2015, 07:34:17 AM |
|
Cmmon people, this is classic arbitrage. This system s been dead for over 2 years now.
|
|
|
|
calamar182 (OP)
Newbie
Offline
Activity: 58
Merit: 0
|
|
December 18, 2015, 08:37:14 AM |
|
Maybe the problem is when I deposit SEPA in EUR and they take 15 eur, then when I buy BTCUSD they charge another fee for currency exchange EUR to USD, and If i buy BTCEUR is not enough liquid market and huge spread. No way to do it
|
|
|
|
amacar2
Legendary
Offline
Activity: 1120
Merit: 1007
CryptoTalk.Org - Get Paid for every Post!
|
|
December 18, 2015, 01:14:03 PM |
|
If you can do that buy and sell fast than it seems to work for little profit. But i think deposit and withdrawl process will be faster through other online payment gateway like perfect money or okpay. Deposit fund via wire and than selll them in bitstamp and withdraw to gateway which both trading platform accepts. But arbitage trading is always a risky game if you can't do that fast.
|
|
|
|
Gemminyc
|
|
December 18, 2015, 04:22:13 PM |
|
Hello
Please I need to know one question and it's important
If I deposit 5000 eur via wire transfer to BTC-E (cheapest way for this amount) and I buy BTC then send to Bitstamp and sell BTC and withdraw to bank
If arbitrage between BTC E and BITSTAMP is 2% ( the 2% of 5000 =50 eur profit) rest 15 eur of wire trasnsfer and maybe 10 for costs and withdrawal, this is net profit of 25 eur
Can I do that continiously depositing in BTCE and withdraw in BITSTAMP? What is the bad part of this idea? the will stop you or what?
If you want to be a trader you have to act fast and ou have to use each opportunity when a price gap occurs... For example at this moment this is a good opportuniry with around 10-15%: https://bitcointalk.org/index.php?topic=1294441.0
|
|
|
|
richardsNY
Legendary
Offline
Activity: 1232
Merit: 1091
|
|
December 18, 2015, 07:12:54 PM |
|
The idea itself isn't new, but the fact is that BTC-E knows this is happening. They could slow down your deposits at some point if you repeat it too often. If all people do this, then not many coins will be left on BTC-E.
|
|
|
|
gentlemand
Legendary
Offline
Activity: 2590
Merit: 3013
Welt Am Draht
|
|
December 18, 2015, 08:18:17 PM |
|
The idea itself isn't new, but the fact is that BTC-E knows this is happening. They could slow down your deposits at some point if you repeat it too often. If all people do this, then not many coins will be left on BTC-E.
Why on Earth should they care? That's pretty much what they're there for. Arbitrage is a major factor in all financial markets. They get their fees, whoever's attempting to do it believes they're about to make bank.
|
|
|
|
HarryKPeters
|
|
December 18, 2015, 09:19:15 PM |
|
Its not without risk tho, a small movement in price in the wrong direction can still cause heavy losses.
This. You do this 10 times and earn 250 USD. Then you find out your bitcoin which your bought at 450 are worth only 400. So you lose over ~10%. ~10% of 5k is 500. Which means you are in loss now. But there is also another scenario. Your bitcoins bought at 450 are worth 500 USD. so know you have earned 250 UDS + 500 USD - 750 USD. Both scenario's are possible (the - / + offcourse).
|
|
|
|
melisande
|
|
December 18, 2015, 10:49:20 PM |
|
This works naturally but for the fluctuations in the bitcoin price, you can gain more than 50 euro per trade if the price move higher than your expectations and vice versa, you can also use credit card to fund and withdraw profit from both website to avoid delay.
|
|
|
|
Quickseller
Copper Member
Legendary
Offline
Activity: 2870
Merit: 2298
|
|
December 19, 2015, 05:30:57 AM |
|
The best way to do this is to already have $5,000 worth of Bitcoin at bitstamp and then execute a buy order at BTC-e at the same time you execute a sell order on bitstamp, then you can initiate a fiat withdrawal on bitstamp and withdraw BTC from BTC-e and repeat.
Although you probably wouldn't be able to do this at as high of volumes, a more profitable way to arb is to buy/sell Bitcoin on a P2P basis for below/above market price as your margins will likely be higher and the effort necessary to get fiat in/out will likely be less.
|
|
|
|
richardsNY
Legendary
Offline
Activity: 1232
Merit: 1091
|
|
December 19, 2015, 02:50:34 PM |
|
The idea itself isn't new, but the fact is that BTC-E knows this is happening. They could slow down your deposits at some point if you repeat it too often. If all people do this, then not many coins will be left on BTC-E.
Why on Earth should they care? That's pretty much what they're there for. Arbitrage is a major factor in all financial markets. They get their fees, whoever's attempting to do it believes they're about to make bank. Haven't you noticed how low their volume is lately, and how thin their order book is? It has never been a strong order book, but it's becoming weaker and weaker. I don't say it has to do with people hunting for arbitrage profits, but it could be. It's easy profit when you buy around 100 coins there and sell them at Bitstamp or Bitfinex for $10 higher per coin. Easy money.
|
|
|
|
|