Do you trade at multiple exchanges?

[Hamukione]

I personally only use Bittrex to keep everything at one place, and I like the interface that Bittrex has.

All the scandals on Poloniex makes it hard for me to trust them as it is right now.

But cant deny I will move over to them at some point.

As trading with SIA on there seems to be nice if you day trade a lot

[xhienigat]

It's called arbitrage trading.  Here's why all the prices aren't the same:

-There's a "spread" on most exchanges, which is the difference between the buy and sell prices.

-Some exchanges have high fees (e.g. Coinbase)

-Some exchanges are dysfunctional (Bitfinex, BTC-E, Chinese exchanges), and some exchanges are also extremely shady/annoying when you move large amounts (BTC-E, Poloniex and more).

Overall doing arbitrage with several exchanges can get very hard.  There are some minor opportunities with the extreme price fluctuations that go on, but they're gone very fast.  I don't recommend you get involved unless you know what you're doing or you can trade with foreign exchanges (like South Korea).

Same here, I once tried arbitrage trading and it is not actually a good recommendation to trade at multiple exchanges but if you have lots of capital for the coins you are buying then it'll work for you. But there are some traders who transfer the coins they bought at this certain site to another site because they bought it low and the tendency is you'll receive the transfer so late because of the traffic blockchain. But there are also some traders that works for them though.

[italianMiner72]

All the scandals on Poloniex makes it hard for me to trust them as it is right now.

sorry but never heard or read something bad about polo.
but if there is something to know, i want to know it...
what are you talking about?
do you have some link or thread to read?

thank you.

[bluefirecorp]

I personally only use Bittrex to keep everything at one place, and I like the interface that Bittrex has.

How you will deal with an altcoin which is not being listed on bittrex ? I am not finding any difficulties in dealing with more than 5 exchanges for my altcoin trading purposes.

I believe like not having all our cryptocurrencies in one single wallet, we should not rely on one single exchange for our trading purposes. It must be a better practice to have accounts in multiple exchanges so that we can be sure about  covering all the leading coins and no need to worry about down time in one exchange.

[BitHodler]

I have accounts at Bitstamp, Kraken and BTC-e. In some cases there are decent arbitrage opportunities, which is exactly why I am active on three platforms.

In this case there is such an opportunity as well with a gap of around $60 between Bitstamp and BTC-E, but I don't have enough funds on BTC-E to make it worthwhile.

[ivanst776]

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

I used to trade in multiple exchanges but that is not as much fun because it's stressful and we have to be very much patient because of waiting for confirmations and some exchanges rewuire 30,60,90 confirmations.

For example in poloniex it can take half a day or a day to see your eth balance in poloniex account and this can cause a huge loss because the Eth price is changing up to 25% and now calculate if you have eth worthing 1btc how much could be the loss.

[babysweetTiger0401]

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

Actually its agood idea that we need to trade not only on single platform exchange site like other traders do not put all your eggs
In 1 basket. At least if there is a problem your coins holdings whether bitcoin or altcoins it is scattered isn't?

[reflector]

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

Actually its agood idea that we need to trade not only on single platform exchange site like other traders do not put all your eggs
In 1 basket. At least if there is a problem your coins holdings whether bitcoin or altcoins it is scattered isn't?

The reason you will not able to manage your trading in the multiple trading site. You need to look around price and set up the value in each site as price changes. This may lead to find the loss many times in trading. So we can have bitcoin trading in single trading exchange.

[Humanxlemming]

yes i've trading using many exchanges like if the altcoin that i needed have'nt not listed in poloniex then i would succesfully search it in bitrex or in any exchanges that the altcoin that i want oto buy is can buy in thier exchanges. anyways i only trade in poloniex just someimes going in bittrex if there's some coins that  i want to buy

[pinggoki]

Yes I do trade in differnt exchanging sites...first because some altcoins is doesn't exist in other exchaging sites. Second, because sometimes there are different rates of altcoins in every exchages. Furthermore, I used also the sites to store few of my altcoins because I believe that don't put all of your eggs in one basket.

[moviebuff777]

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

It seems too hard to manage with arbitrage trading. You have to make sure that you make enough profit to overcome the fees for moving from one exchange to another.

[Monnt]

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

It seems too hard to manage with arbitrage trading. You have to make sure that you make enough profit to overcome the fees for moving from one exchange to another.

Yes many people are misunderstanding about maintaining accounts with multiple exchanges as only for the reason of arbitarge trading. Practically price gaps are very rare and making use of those gaps not that easy when considering fees and time delay for confirmations.

I have signed up many exchanges (honestly I do not have any count) in my crypto career as per need whenever I do want to trade one particular altcoins. I do get back to those exchanges whenever I need as per available listing of different trading pairs.

[Kemarit]

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

It seems too hard to manage with arbitrage trading. You have to make sure that you make enough profit to overcome the fees for moving from one exchange to another.

Correct, people thought that if you have a account in a China trading platform and let say in US, and try to do a arbitrage, you will just withdraw from one trading platform and sell it to the other. Its not just like that. You have to put into account the fee's and how fast you can withdraw it. And as far as having multiple accounts for trading, yes, I have 3 accounts that I managed right now and so far I don't encounter issues on my end. Although I just have to stay late my time to trade or buy coins that I like.

[CyberKuro]

Currently, I'm using local exchange in my country to trade or convert bitcoin but for altcoins trading, mostly I spend my time on bittrex and Liqui, no particular reason because my friend suggested those exchanges and after tried it, all going well until now. Even though some traders don't like Liqui as they're listed too many shit coins but some time you could learn from this new coin whether it is good or not.

[BluePoppy]

I do arbitrage with multiple exchanges. there is a huge profit opportunity when prices are different between exchanges. I find it to be a more reliable method of income than trading price movements.

[JellyO]

I only trade a poloniex. I dont see the point of trading at multiple exchanges unless you are doing arbitrage.

[wuvdoll]

I only trade a poloniex. I dont see the point of trading at multiple exchanges unless you are doing arbitrage.

Yet again ? How you will trade one altcoin which has not yet listed in your exchange ?
You will ignore trading that altcoin or you will go for signing up a new account with a new exchange where that altcoin trading is available ?

There are multiple factors which are influencing why we need to maintain accounts with multiple exchanges. Arbitrage cannot be the only one reason for same.

Other than above mentioned reason, traders are choosing exchanges based on fees structure and legality of exchanges with the respect to their country. Hence obviously they need to have multiple exchanges.

[mirakal]

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

That is arbitrage, yeah I did not sometimes if I see some opportunity but it does not happen all the time and you need to have a good capital so you can exploit the price differences. 1 BTC is enough for me and I have done that once when I saw a price difference in Liqui and Bittrex so I grab it and make easy money. You need to have a lot of time to focus and to make a constant by simply doing it, it's possible but you have to devote most of your time.

[CasinoRoyal.one]

I keep accounts with Polo and Kraken but do not partake in arbitrage trading, the fear of long lead times puts me off.

[italianMiner72]

Most of the time there difference of price exists so do you withdraw bitcoins from one exchange and sell at higher rate exchange?

That is arbitrage, yeah I did not sometimes if I see some opportunity but it does not happen all the time and you need to have a good capital so you can exploit the price differences. 1 BTC is enough for me and I have done that once when I saw a price difference in Liqui and Bittrex so I grab it and make easy money. You need to have a lot of time to focus and to make a constant by simply doing it, it's possible but you have to devote most of your time.

i repeat again...
this is not the right way to do arbitrage or spread trading...
How do you think to buy low on Exchange A, tranfer btc ans sell high to exchange B???
It's simply impossible!!!
you nee to have money ($ and BTC) in Exchange A and B... and for a succefull trading you must place buy/sell order at the same time!!
that's all