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Author Topic: How to move USD through different exchanges?  (Read 359 times)
masama
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April 04, 2016, 12:41:45 PM
 #1

Hi guys,

I recently come up an idea to exchange bitcoin rates from platforms-to-platforms, although I don't have any problem moving BTC's since they have wallets. But the problem is after I sold the bitcoin to USD, I can't move anymore the money back to the platform where I bought it(because the rate of BTC is cheap there).

Basically, I am talking CCEX to Poloniex, and considering other platforms too.

So, has anyone have successfully done this before. I will keep every helpful comments into my mind.

Thanks and have a great day/night.

Money, money and more money!
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April 04, 2016, 01:01:43 PM
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Usually ,that's what people do as an alternative to trading.You can start exchanging using other services like Neteller/Skrill/Payza etc ,the amount of jumps money is taking place results in profit or less from the actual value of your coins.You can have your coins exchanged with paypal at %5 then preev rate,you make a bit of profit here,then use them again to buy coins @-2% prev rate.

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odolvlobo
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April 04, 2016, 05:01:48 PM
 #3

What you are talking about is called "arbitrage". It is not a new idea. People have been doing it for years now.

The problem you are having is the main reason why it doesn't work well. Even the Federal Reserve talks about it, here: http://libertystreeteconomics.newyorkfed.org/2016/03/is-bitcoin-really-frictionless.html.

The problem of moving dollars around is why there is a difference in prices in the first place. So, the only way to make real money doing arbitrage is to find a solution to that problem.

Buy stuff on Amazon at a discount with bitcoins or convert Amazon points to bitcoins: Purse.io
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April 05, 2016, 02:03:56 AM
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I see, I think moving from exchanges is not ideal for me at the moment as the amount that I have in possession right now is satoshis only. Thanks guys.

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April 05, 2016, 07:21:36 AM
 #5

you can not do this because when depositing in any exchanger they don't give you an address like what you do with cryptocurrencies.
when depositing fiat you have to go through a processor yourself meaning clicking on the deposit and going through it (do it as a test and you will realise) so you have to withdraw (-fee) to your wallet then deposit (-fee) again to the exchanger.

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April 05, 2016, 09:28:42 AM
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I see, I think moving from exchanges is not ideal for me at the moment as the amount that I have in possession right now is satoshis only. Thanks guys.
yes its not ideal,moving USD from exchange to other exchange just take higher fees,and its avoid by everyone,moving with bitcoin its better for bitcoin user,but i'm also think some countries which not use USD as main currecny,it might better,because not only bitcoin who fluctuate,but USD also same.
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April 05, 2016, 11:27:30 AM
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I see, I think moving from exchanges is not ideal for me at the moment as the amount that I have in possession right now is satoshis only. Thanks guys.
yes its not ideal,moving USD from exchange to other exchange just take higher fees,and its avoid by everyone,moving with bitcoin its better for bitcoin user,but i'm also think some countries which not use USD as main currecny,it might better,because not only bitcoin who fluctuate,but USD also same.

the currencies like USD with local currencies (whatever they are like Euro or african money) the rate is not so volatile that you might think it is mostly at a very fixed rate if nothing horrible happens to that country.

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