Trading between BTC-E and MT Gox

[LuckyNumber7]

How easy is it to transfer say 1 bitcoin from BTC-E to Mt Gox, sell on Gox, transfer the USD back to BTC-E, purchase a bitcoin and repeat? (The only bit I see difficulty with is transferring the USD from Gox to BTC-E)

Thank you in advance for your help!

[BTC Books]

Think about it.

If it were easy enough to make any profit, there would be no difference in the exchange rates at those two, would there?

The spread between Gox and BTCe is actually a fairly accurate reflection of two things:  the concatenated size of the fees involved in arbitrage, and the time-value of money.

[LuckyNumber7]

Think about it.

If it were easy enough to make any profit, there would be no difference in the exchange rates at those two, would there?

The spread between Gox and BTCe is actually a fairly accurate reflection of two things:  the concatenated size of the fees involved in arbitrage, and the time-value of money.

Yeah I thought that might be the case!! It seemed to obvious to do so

[redwraith]

How easy is it to transfer say 1 bitcoin from BTC-E to Mt Gox, sell on Gox, transfer the USD back to BTC-E, purchase a bitcoin and repeat? (The only bit I see difficulty with is transferring the USD from Gox to BTC-E)

Thank you in advance for your help!

I do it occasionally using Gox - OKpay - BTC-e when the spread gets wide enough.  The key is to have money waiting in OKpay, because sometimes there are long delays getting USD from  Gox to them (24-48 hrs when Gox doesn't have their OKpay account funded), but transferring USD from OKpay to BTC-e is instant.  It costs about 4% to do this, but when the spread is 11% like it is now, it's worth it.  (There's also the risk of placing your money with BTC-e as well, it seems to be a bit of a minefield lately.)

[rizq]

How do you fund BTC-E account with OKpay.

I cant seem to find any article on their website detailing how fund an account, and what the account details are.

Worst website i have ever seen. Its not even on their FAQs

[redwraith]

How do you fund BTC-E account with OKpay.

I cant seem to find any article on their website detailing how fund an account, and what the account details are.

Worst website i have ever seen. Its not even on their FAQs

At BTC-e go to the "finances" link and find the currency you want and click deposit.  At the bottom of the screen will be a dropdown listing a few deposit methods, one of them being OKpay.  Follow the links from there.

[legendster]

How do you fund BTC-E account with OKpay.

I cant seem to find any article on their website detailing how fund an account, and what the account details are.

Worst website i have ever seen. Its not even on their FAQs

At BTC-e go to the "finances" link and find the currency you want and click deposit.  At the bottom of the screen will be a dropdown listing a few deposit methods, one of them being OKpay.  Follow the links from there.

+1

[rizq]

Thank you very much, saves me from waiting 10 days for a reply from support.

+10

[chungenhung]

How easy is it to transfer say 1 bitcoin from BTC-E to Mt Gox, sell on Gox, transfer the USD back to BTC-E, purchase a bitcoin and repeat? (The only bit I see difficulty with is transferring the USD from Gox to BTC-E)

Thank you in advance for your help!

I do it occasionally using Gox - OKpay - BTC-e when the spread gets wide enough.  The key is to have money waiting in OKpay, because sometimes there are long delays getting USD from  Gox to them (24-48 hrs when Gox doesn't have their OKpay account funded), but transferring USD from OKpay to BTC-e is instant.  It costs about 4% to do this, but when the spread is 11% like it is now, it's worth it.  (There's also the risk of placing your money with BTC-e as well, it seems to be a bit of a minefield lately.)

I don't think there is a way to transfer USD from Gox to BTC-e, or OKPAY account. At least it is not in the withdraw menu.

[redwraith]

How easy is it to transfer say 1 bitcoin from BTC-E to Mt Gox, sell on Gox, transfer the USD back to BTC-E, purchase a bitcoin and repeat? (The only bit I see difficulty with is transferring the USD from Gox to BTC-E)

Thank you in advance for your help!

I do it occasionally using Gox - OKpay - BTC-e when the spread gets wide enough.  The key is to have money waiting in OKpay, because sometimes there are long delays getting USD from  Gox to them (24-48 hrs when Gox doesn't have their OKpay account funded), but transferring USD from OKpay to BTC-e is instant.  It costs about 4% to do this, but when the spread is 11% like it is now, it's worth it.  (There's also the risk of placing your money with BTC-e as well, it seems to be a bit of a minefield lately.)

I don't think there is a way to transfer USD from Gox to BTC-e, or OKPAY account. At least it is not in the withdraw menu.

As long as you have an OKpay account, you can add it as a withdrawal method at Gox.  When you add it, it'll say "validating" for a day or two (it took overnight for me) and then you'll be able to withdraw to your OKpay acct.

[rizq]

http://www.youtube.com/watch?v=-XdLxLoE0Q8

Is this video outdated?

[CodyCot]

How easy is it to transfer say 1 bitcoin from BTC-E to Mt Gox, sell on Gox, transfer the USD back to BTC-E, purchase a bitcoin and repeat? (The only bit I see difficulty with is transferring the USD from Gox to BTC-E)

Thank you in advance for your help!

I do it occasionally using Gox - OKpay - BTC-e when the spread gets wide enough.  The key is to have money waiting in OKpay, because sometimes there are long delays getting USD from  Gox to them (24-48 hrs when Gox doesn't have their OKpay account funded), but transferring USD from OKpay to BTC-e is instant.  It costs about 4% to do this, but when the spread is 11% like it is now, it's worth it.  (There's also the risk of placing your money with BTC-e as well, it seems to be a bit of a minefield lately.)

I don't think there is a way to transfer USD from Gox to BTC-e, or OKPAY account. At least it is not in the withdraw menu.

As long as you have an OKpay account, you can add it as a withdrawal method at Gox.  When you add it, it'll say "validating" for a day or two (it took overnight for me) and then you'll be able to withdraw to your OKpay acct.

Regarding adding the Withdrawal method on Mt Gox, did you add your email account that you used to sign up to OKPAY? Or did you use the OKnnnnnnn wallet ID??

[seleme]

okpay id is email so I guess it should be email.

[redwraith]

@CodyCot - You use your OK id