arsenische (OP)
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April 09, 2013, 02:21:49 PM
Last edit: April 09, 2013, 02:34:11 PM by arsenische |
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I've noticed that the price difference between MtGox and BTC-e is often greater than 7%. But it takes only ~3% to transfer funds from MtGox to Btc-e. So you can sell bitcoins for USD at MtGox, transfer funds to BTC-e and buy cheaper bitcoins there thus making ~3% with minimal risks. The easy way of transferring funds from MtGox to Btc-e is OKPay. I noticed that transfers may take from several minutes to couple days though, so it might be a good idea to make reserves of USD at BTC-e before placing your buy and sell orders. Minimizing the interval between buys and sells you minimize your risks. Though it might be a good idea to make sure that sell order at MtGox executes before placing your buy order at btc-e since sometimes MtGox is really slow. Why am I writing all this? Just hoping to get some passive income via OKPay's referral program. So if you find this advise useful, please use my link to get registered: https://www.okpay.com/?rbp=arsenische |
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antibanker
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April 09, 2013, 02:24:00 PM |
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what do you mean with "minimal risk" ?
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arsenische (OP)
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April 09, 2013, 02:32:23 PM |
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That means you make orders in opposite directions almost simultaneously and don't care if the price goes up or down. I can't give the numbers though  |
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Remember remember the 5th of November
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Reverse engineer from time to time
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April 09, 2013, 03:15:04 PM |
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That means you make orders in opposite directions almost simultaneously and don't care if the price goes up or down. I can't give the numbers though Are USD transfers from Gox to Btc-e fast enough? Even an hour at this volatile price makes everything not worth it. |
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arsenische (OP)
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April 09, 2013, 03:16:47 PM |
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That means you make orders in opposite directions almost simultaneously and don't care if the price goes up or down. I can't give the numbers though Are USD transfers from Gox to Btc-e fast enough? Even an hour at this volatile price makes everything not worth it. As I said, it takes from several minutes to several hours. So it is nice to have USD reserves in BTC-e. Well... I assume people don't put all their savings in bitcoin, just part of them. |
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Remember remember the 5th of November
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Reverse engineer from time to time
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April 09, 2013, 03:19:25 PM |
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Personally, I do not use Gox anymore. All this AML verification, sending documents and whatnot. Not worth it imo.
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BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
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arsenische (OP)
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April 09, 2013, 03:54:20 PM |
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Yes, but still it is the most liquid exchange... Btw, Okpay requires documents too. But it processes them much quicker than MtGox |
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genuise
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April 09, 2013, 06:32:58 PM
Last edit: April 09, 2013, 09:40:31 PM by genuise |
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In fact actuall arbitrage between mtgox and btce and many others is visible in paid version of bitcon-analytics.com/#arbitrage for last 24 hours in real time. |
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arsenische (OP)
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April 09, 2013, 07:33:45 PM |
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In fact actuall arbitrage between mtgox and btce and many others is visible in paid version of bitcon-analytics.com/#arbitrage for last 24 hours in real time.
So how much arbitragers are making per day nowadays? |
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arsenische (OP)
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April 09, 2013, 07:40:55 PM |
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.
If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it? Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction. Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds). |
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Furyan
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April 09, 2013, 08:33:30 PM |
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.
If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it? Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction. Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds). Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share. |
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arsenische (OP)
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April 09, 2013, 09:11:03 PM |
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.
If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it? Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction. Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds). Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share. -- from this page I was able to add OKPay as withdraw method for USD. |
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genuise
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April 09, 2013, 09:44:04 PM |
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In fact actuall arbitrage between mtgox and btce and many others is visible in paid version of bitcon-analytics.com/#arbitrage for last 24 hours in real time.
So how much arbitragers are making per day nowadays? You can have some understanding of it with free version of the bitcoin-analytics.com/#arbitrage which shows 6 hours delayed data. |
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Furyan
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April 10, 2013, 03:25:42 AM |
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Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.
https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD. Well, I feel like an idiot. Added. Question - how long did it take for them to validate yours as a withdrawal method? I'd really love to take advantage of the current spread between the two... |
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frozen
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April 10, 2013, 06:32:00 AM |
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.
If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it? Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction. Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds). Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share. -- from this page I was able to add OKPay as withdraw method for USD. This does not appear to work for me.  |
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arsenische (OP)
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April 10, 2013, 06:59:06 AM |
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.
If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it? Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction. Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds). Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share. -- from this page I was able to add OKPay as withdraw method for USD. This does not appear to work for me. Did you try bank transfer option? |
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frozen
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April 10, 2013, 07:03:26 AM |
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.
If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it? Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction. Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds). Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share. -- from this page I was able to add OKPay as withdraw method for USD. This does not appear to work for me. Did you try bank transfer option? Oh look, there it is. Thanks! |
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Rishodi
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April 10, 2013, 02:22:28 PM |
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At the moment the price spread between the BTC-e ask ($243) and the MTGox bid ($246) is just 1.2%, making arbitrage non-profitable.
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Bitrated user: Rishodi.
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daybyter
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April 10, 2013, 02:26:03 PM |
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That's a situation when you could move the money back to btc-e. Even with a loss, it might make sense...
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Furyan
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April 10, 2013, 02:42:20 PM |
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At the moment the price spread between the BTC-e ask ($243) and the MTGox bid ($246) is just 1.2%, making arbitrage non-profitable.
At 4am last night, you would have saved $15 per coin.. it varies by time of day. The margin needs to be at least 7% to be profitable and that's just to cover the fees to move money and coins between the two.. |
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