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Author Topic: Do you trade at multiple exchanges?  (Read 18119 times)
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June 23, 2017, 09:23:20 PM
 #201

Trading in multiple exchange websites is quite a good idea, the same helps in learning more about trading. Importantly multiple exchange trading participation helps in making arbitrage trading and profit good out of the same with ease.
How trading in multiple exchanges will help learning about trading ?
You mean to say comparing prices and market movements will get some clear idea about how to analyze and interpret price movements ? You are talking about more specific to some trading tools, I really could not get this point.



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June 23, 2017, 10:11:47 PM
 #202

I am holding accounts in more than five exchanges. All are altcoin exchanges. The real advantage of having accounts in more than one exchange must be we can trade at any time regardless of any exchange is going into maintenance mode.

I have never tried arbitrage trading like many people are sharing here because so far I never find big price gaps to make use of them.

I think you should try arbitrage, especially if you have more than 5 exchange account, but first make sure these exchange can transfer amount of coin to another exchange coin address.

The gaps, transaction fees and speed of transaction is the important thing to success in arbitrage. If you have a lot capital, low price gaps is doesn't matter, 1 satoshi is worth. If you have low capital, you should research more about the coin that have big price gaps, because besides need a profit, you need a coin to cover transaction fees.
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June 23, 2017, 10:23:23 PM
 #203

I use Bitfinex and Poloniex. Poloniex is excellent for altcoins trading etc and bitfinex im convinced has the best user interface, for the way I trade at least.

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June 24, 2017, 06:29:29 AM
 #204

Yes I trade in multiple exchanges. Poloniexand Bittrex. But I use bittrex most. Because it has the bette user interface. Poloniex also good.

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June 24, 2017, 06:39:14 AM
 #205

Yes, I also use multiple exchanges for trading some time it will be a higher value in other exchanges. In order to secure our funds we need to trade on different platforms because we don't when exchanges are going to hack.
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June 24, 2017, 06:58:38 AM
 #206

Yes, I also use multiple exchanges for trading some time it will be a higher value in other exchanges. In order to secure our funds we need to trade on different platforms because we don't when exchanges are going to hack.

It's better to have pre-caution rather than we lose all our coins when the site is hack or they run with our money. That's why it's important to have many exchange site as possible. Don't forget the saying that do not put all your eggs in one basket. It's better to spread your funds across exchange sites.

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..............
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June 24, 2017, 07:22:40 AM
 #207

Trading in multiple exchange websites is quite a good idea, the same helps in learning more about trading. Importantly multiple exchange trading participation helps in making arbitrage trading and profit good out of the same with ease.
How trading in multiple exchanges will help learning about trading ? You mean to say comparing prices and market movements will get some clear idea about how to analyse and interpret price movements ? You are talking about more specific to some trading tools, I really could not get this point.
Trading in multiple exchanges will definitely help any trader to earn decently through arbitrage trading but I am also not sure how it will be helping to learn trading aspects. I understand he must be talking about arbitrage trading only because other than arbitrage trading I could not find any advantage of trading in multiple exchanges. Still it would be good if Ayiranorea will be confirming if he has any new methods other than we are discussing.



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Blake_Last
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June 24, 2017, 10:34:21 AM
 #208

I have an account on various exchange sites like Poloniex, Bittrex, Bitstamp, Changelly, Cex, SimpleFx, ShapeShift and Kraken, and usually, I check these sites first and compare them before I start selling or buying coins. This way I can get to profit better.
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June 24, 2017, 10:45:06 AM
 #209

Trading at multiple exchanges is called arbitrage , in theory = its wonderfull (buy at cheap price = transfer , sell at high price = rince and repeat lol) , in real = You will lose your money in commissions , price will move while you try to send your btc (confirmations ...etc) , not worth it

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June 24, 2017, 10:56:45 AM
 #210

It is impossible to earn high amounts in this way. Exchanges usually get 0.2 percent as fee for themselves. So 0.4 percent of that amount should be paid for exchanges fee. Also there is withdrawal fees. Another thing that make this more difficult is the difference between buy and sell orders.
Another problem is confirmation time . After that time prices will change.

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June 24, 2017, 12:45:31 PM
 #211

For me arbitrage trading is not worth it i've tried it many times sending bitcoins on another exchange really takes times and before the btc arrives the buy order is much lower so you must wait for another time to sell it.


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June 24, 2017, 12:52:46 PM
 #212

It is impossible to earn high amounts in this way. Exchanges usually get 0.2 percent as fee for themselves. So 0.4 percent of that amount should be paid for exchanges fee. Also there is withdrawal fees. Another thing that make this more difficult is the difference between buy and sell orders.
Another problem is confirmation time . After that time prices will change.

I agree. It wasn't really like this before and I think this came along with the sudden rise of bitcoin. Back then it was a good idea to buy low from one exchange, transfer to to another that has a higher selling value for the specific coin. Now the transaction fees will kill you and it's not worth it anymore as your profits would just be eaten by the transaction fees

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June 24, 2017, 05:25:58 PM
 #213

It is impossible to earn high amounts in this way. Exchanges usually get 0.2 percent as fee for themselves. So 0.4 percent of that amount should be paid for exchanges fee. Also there is withdrawal fees. Another thing that make this more difficult is the difference between buy and sell orders.
Another problem is confirmation time . After that time prices will change.

I agree. It wasn't really like this before and I think this came along with the sudden rise of bitcoin. Back then it was a good idea to buy low from one exchange, transfer to to another that has a higher selling value for the specific coin. Now the transaction fees will kill you and it's not worth it anymore as your profits would just be eaten by the transaction fees

Not just with the transactions fees but the confirmation will kill us also especially if the trader are doing arbitrage trading in bitcoin. Anyways that's why it was called one of the best method is because bitcoin transaction is somehow fast and close to being instant in the past so the method is really effective back then. But now it can't be applied and possibility of just making it worst have higher chance.

One crypto is to one exchange and no switch will happen just to target profit.


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June 24, 2017, 05:29:41 PM
 #214

It is impossible to earn high amounts in this way. Exchanges usually get 0.2 percent as fee for themselves. So 0.4 percent of that amount should be paid for exchanges fee. Also there is withdrawal fees. Another thing that make this more difficult is the difference between buy and sell orders.
Another problem is confirmation time . After that time prices will change.

I agree. It wasn't really like this before and I think this came along with the sudden rise of bitcoin. Back then it was a good idea to buy low from one exchange, transfer to to another that has a higher selling value for the specific coin. Now the transaction fees will kill you and it's not worth it anymore as your profits would just be eaten by the transaction fees

Not just with the transactions fees but the confirmation will kill us also especially if the trader are doing arbitrage trading in bitcoin. Anyways that's why it was called one of the best method is because bitcoin transaction is somehow fast and close to being instant in the past so the method is really effective back then. But now it can't be applied and possibility of just making it worst have higher chance.

One crypto is to one exchange and no switch will happen just to target profit.
the risk is really getting bigger as the time frame of getting the transaction being finish is really taking a while and the opportunity of doing the arbs is getting little as other traders will find it out before you and they already have advance funds inside the exchange hopefully this issue with delayed and fees will be resolved lets wait and see.

.

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June 24, 2017, 08:26:44 PM
 #215

Yes, I also use multiple exchanges for trading some time it will be a higher value in other exchanges. In order to secure our funds we need to trade on different platforms because we don't when exchanges are going to hack.

It's better to have pre-caution rather than we lose all our coins when the site is hack or they run with our money. That's why it's important to have many exchange site as possible. Don't forget the saying that do not put all your eggs in one basket. It's better to spread your funds across exchange sites.
Going by the precedence of even supposed healthy exchanges in the past, the rule of the thumb has become to not resign your fate to one exchange. Diversifying your fund across the seemingly strong and stable ones, can turn out the best business decisions as even if they don't go the way of MtGox, a whole lot of issues, like ddos attack can hinder one from accessing his fund when needed.

..C..
.....................
........What is C?.........
..............
...........ICO            Dec 1st – Dec 30th............
       ............Open            Dec 1st- Dec 30th............
...................ANN thread      Bounty....................

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June 24, 2017, 11:21:44 PM
 #216

Sometimes and it is surely not worth to always trade on multiple exchanges especially with the bigger altcoins as the price has a difference of 10 cents. I only trade on multiple exchanges when their is a coin already listed on a exchange and it is added to a new exchange that is the only time you can make some good profit

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June 25, 2017, 01:06:42 AM
 #217

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?
I don't. Fees are getting higher which can cause me to be deficit rather than making profit. I think it's better to stick with one exchanger at a tim since price difference in exchangers isn't huge. Also, trading with single exchanger would help you to focus more on your trading.

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Larva14
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June 25, 2017, 02:17:30 AM
 #218

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?
I don't think that there is a difference. Since altcoins' standard price can be seen in coinmarketcap, biderrs/askers use it as basis in placing their orders. For this reason, I can say that making arbitrage in altcoins is not worth it.

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June 25, 2017, 05:16:34 AM
 #219

I am doing some little trading if I have the time and if I feel that the market is really good. Right now, I am primarily using Bittrex though I also have an account in Poloniex and in C-Cex (I recently bought an ICO in there). The main reason why many traders are using different exchange platform is not one single exchange offers all coins...what with so many cryptocurrencies and tokens available and still more are coming up we are already drowning in here.

There is a possibility of arbitrage where once coin can be selling high in one platform and there is a difference in another one. But this is not so popular because there are obstacles making it nearly impossible to realize some profits.

Maybe you can go to countries like South Korea and India where Bitcoin is getting to be a premium and people are paying more than what is currently published in our exchanges. However, there are also banking restrictions that you must hurdle.

In other words, for now, arbitrage is quite a big hassle and is not worth something to explore.

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June 25, 2017, 05:38:37 AM
 #220

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?
The differences between exchanges does not seem like it is worth it at least for me at this point, but all the more power to those who are willing to put hours of hard work into taking advantage of the arbitrages.
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