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Author Topic: Selling Bitcoin Over Market Price?  (Read 1759 times)
viking02
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July 22, 2017, 11:36:44 PM
 #1

If you could get bitcoin at a certain price and then sell it to another exchange or person... how profitable would this be?  For example bitcoin is 2500 a coin.  You get them at 2500 a coin.  Localbitcoins it seems like ppl who buy bitcoin actually offer you more than 2500 per coin right?  If thats the case, why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit?  The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user.  Does anyone know how much money ppl are buying over the market price for bitcoin on localbitcoins?  For example if price is 2500... are people paying like 3 percent for it?  Thus 2575 etc for a coin?  Or is it the other way around?  Because i recalled didn't people sell bitcoin at face value or actually get less than face value?  But since bitcoin gotten really big, its actually worth more than cash value?





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July 23, 2017, 01:15:12 AM
 #2

If you could get bitcoin at a certain price and then sell it to another exchange or person... how profitable would this be?  For example bitcoin is 2500 a coin.  You get them at 2500 a coin.  Localbitcoins it seems like ppl who buy bitcoin actually offer you more than 2500 per coin right?  If thats the case, why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit?  The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user.  Does anyone know how much money ppl are buying over the market price for bitcoin on localbitcoins?  For example if price is 2500... are people paying like 3 percent for it?  Thus 2575 etc for a coin?  Or is it the other way around?  Because i recalled didn't people sell bitcoin at face value or actually get less than face value?  But since bitcoin gotten really big, its actually worth more than cash value?




I have tried this strategy (arbitrage). In India, in the month of April and May, Bitcoin was being sold at premium approximately $300-$400 high. I did earn a good profit from that. But the case you listed wouldn't be that profitable. Usually it is quite a hassle going from one exchange to another which is not worth for 3% rise. You are most likely to make a loss between the time gap from one exchange to another plus it includes a transaction fees. Instead of that holding might earn you a better profit.
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July 23, 2017, 02:53:57 AM
 #3

If you could get bitcoin at a certain price and then sell it to another exchange or person... how profitable would this be?  For example bitcoin is 2500 a coin.  You get them at 2500 a coin.  Localbitcoins it seems like ppl who buy bitcoin actually offer you more than 2500 per coin right?  If thats the case, why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit?  The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user.  Does anyone know how much money ppl are buying over the market price for bitcoin on localbitcoins?  For example if price is 2500... are people paying like 3 percent for it?  Thus 2575 etc for a coin?  Or is it the other way around?  Because i recalled didn't people sell bitcoin at face value or actually get less than face value?  But since bitcoin gotten really big, its actually worth more than cash value?


I planned to do the same thing here in Italy but then I realized that the gap between exchanges would take away my profit. If we knew the bitcoin price would stay constant, this would be a good way to earn money but the price moves and this could result in loss for us.
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July 27, 2017, 04:21:57 PM
 #4

Depending on how you're doing it most of the people on paxful are already trading at over market price. We do a lot of serve cards and we also do a lot of NetSpend cards and those numbers are definitely possible over market price. Now you can go on there and see some really crazy amounts that we have not even touched
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July 27, 2017, 04:22:44 PM
 #5

I've seen things as much as 48 hours ago, we're some service I can't remember what it was but some service trade on paxful was it literally 10 times the market price. That doesn't mean that that's going to work for you.


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July 27, 2017, 04:48:36 PM
 #6

If you could get bitcoin at a certain price and then sell it to another exchange or person...
why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit?  The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user. 

The problem is "look for a buyer", who wants to trust you?
They trust local bitcoin to deposit and buy bitcoin, instead take a risk to be scammed by some people that offers cheaper bitcoin.
So, consider to find a potential buyer before buy bitcoin and sell it, because the stakes even higher due to bitcoin prices volatility.
But, it is still a good decision to buy bitcoin at current price because the value will increasing as time goes on obviously.
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July 27, 2017, 05:25:04 PM
 #7

There are many countries where local exchanges sell for more than $200-$300 to the international price. One of my friend buys Bitcoins in Bitstamp and sell them on his local exchange for a good margin of profit.The only problem is their financial structure and keeping eye on the foreign transfers. I think its too risky to do, once you are targeted by the government then it will be too tough for anyone to buy or sell cryptocurrencies.

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July 27, 2017, 05:59:44 PM
 #8

If you could get bitcoin at a certain price and then sell it to another exchange or person... how profitable would this be?  For example bitcoin is 2500 a coin.  You get them at 2500 a coin.  Localbitcoins it seems like ppl who buy bitcoin actually offer you more than 2500 per coin right?  If thats the case, why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit?  The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user.  Does anyone know how much money ppl are buying over the market price for bitcoin on localbitcoins?  For example if price is 2500... are people paying like 3 percent for it?  Thus 2575 etc for a coin?  Or is it the other way around?  Because i recalled didn't people sell bitcoin at face value or actually get less than face value?  But since bitcoin gotten really big, its actually worth more than cash value?

In my country when want sell Bitcoin, we usually find exchanger BTC/FIAT in forum make money online use my language and they can provide BTC for buyer or buy Bitcoin for seller. In this forum, have insurance money for helps buyer/seller trust this exchanger and about the rate always have change 1-2% with the price of Bitcoin on preev.com


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July 27, 2017, 06:34:57 PM
 #9

If you could get bitcoin at a certain price and then sell it to another exchange or person... how profitable would this be?  For example bitcoin is 2500 a coin.  You get them at 2500 a coin.  Localbitcoins it seems like ppl who buy bitcoin actually offer you more than 2500 per coin right?  If thats the case, why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit?  The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user.  Does anyone know how much money ppl are buying over the market price for bitcoin on localbitcoins?  For example if price is 2500... are people paying like 3 percent for it?  Thus 2575 etc for a coin?  Or is it the other way around?  Because i recalled didn't people sell bitcoin at face value or actually get less than face value?  But since bitcoin gotten really big, its actually worth more than cash value?





in theory everything is very easy but when you try to implement it it's really hard and too risky,
this question already came up in the past year and many people asking about this question.
the problem is it's really hard and they're limiting/restricting a certain people or somepeople based on their country.
lets take my case back then in late 2015ish or around early 2016ish,
in my local exchange the different between my local and international exchanger around $50/BTC and that day Bitcoin price just olny around $500~
when i tried to exchange it they asked me a verification (back then i used huobi) i gave them my verification,but they rejected it because only from china can do a withdrawal in fiat.

so,first of all it's not worth and it's very risky.who knows what will happen to your Bitcoin/Money if they know where are you come from ?

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July 27, 2017, 06:49:44 PM
 #10

If you're planning on doing something like that, you'd need to invest a lot of time building a reputation.
If you're selling to other people, on platforms like LocalBitcoins or Paxful at least.

Or you could also try and find new marketplaces, maybe the decentralized ones will gain some popularity in the future, there aren't too many sellers on Bitsquare for example.

If you're just buying and selling on exchanges, you're basically just trading (or arbitrage if you're using mutiple exchanges with price differences)
You'd really need to know when to buy and when to sell, it involves much risk.

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July 27, 2017, 07:01:24 PM
 #11

 I sold over market on paxful. 21 trades for a total of .24 btc. 21 out of 21 payments were charged back. VISA paypal, stripe, venmo, gofundme. Square refused to process. I even set up nofraud system to ensure cc payments would be rejected and STILL  I got all chargebacks and accnt closures.   thats right 100pct of the buyers were scams.  Also there is a regular group that offers 2x for paypal with high positive rating usually over 200. In my estimation the owners, who have a shit past,  are the biggest user of the sight and have the same scam going over and over with this rotating name with 200+ rating  robbing people. they then close the scam accnt when they are done stealing, then create a new user with the same stats and do it again.    

It is MY OPINION and analysis, that the only ones who would pay commision on 200 trades to rob 3-5 people on a regular basis are those who actually dont pay comission at all, IE the siites  owners. The only thing that adds up is that paxful owners are robbing their users on a constant basis with sock accounts.  After I saw this high commission, small theft bandit group I looked up the owners of paxful, and saw they are definately involved in hard drugs and irresponsible gun play.

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July 27, 2017, 07:33:09 PM
 #12

https://paxful.com/offer/xAGeE6J4qoV

This is the scam groups current id and offer. within two days this account will turn on real sellers steal their coins and be replaced with the same scam and different user.  On paxful you can watch crime in real time, It is my analysis that this is the site owners robbing unknowing victims. they have had over a dozen of identical accounts with the same MO,
 doing this same scam for months

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July 28, 2017, 04:49:08 AM
 #13

it is all supply and demand.
when you want to sell your bitcoin through different methods (eg. on localbitcoins) you and other people like you form the supply and the people who buy bitcoin from you are the demand.

now because in these alternative methods there is always a lack of supply, meaning there are limited number of people offering a different method like trading with cash, that means they can sell it at higher price. they do it simply because they can and there is no alternative.

it is the same when you don't have any bitcoin exchange in your country and want to buy bitcoin with your local currency. you'll end up paying a higher price.

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July 28, 2017, 08:46:22 AM
 #14

Not that easy as you are writing the topic here. People need a lot of trust before you can trade over localbitcoins. The one thing you said, "why not look for buyers" who accepts higher prices? Well no, it doesn't work like that. People are very smart and if you want to sell at high then at the same time those people want to buy at lowest possible price. Remember one thing that you me and the rest world is same and everybody wants to earn profit forever. So it's little off the possible scenario to grab any kind of margin as you are wishing.



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July 28, 2017, 10:00:10 AM
 #15

it is all supply and demand.
when you want to sell your bitcoin through different methods (eg. on localbitcoins) you and other people like you form the supply and the people who buy bitcoin from you are the demand.

now because in these alternative methods there is always a lack of supply, meaning there are limited number of people offering a different method like trading with cash, that means they can sell it at higher price. they do it simply because they can and there is no alternative.

it is the same when you don't have any bitcoin exchange in your country and want to buy bitcoin with your local currency. you'll end up paying a higher price.

In that case of your local currency it must be implemented and be well recognized so that you will not end up paying higher price over market price. That scenario really happens because of more alternative coins exchanging btc also for their investment methods of earning bitcoin as assets to harvest in the future.
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July 28, 2017, 10:55:14 AM
 #16

it is all supply and demand.
when you want to sell your bitcoin through different methods (eg. on localbitcoins) you and other people like you form the supply and the people who buy bitcoin from you are the demand.

now because in these alternative methods there is always a lack of supply, meaning there are limited number of people offering a different method like trading with cash, that means they can sell it at higher price. they do it simply because they can and there is no alternative.

it is the same when you don't have any bitcoin exchange in your country and want to buy bitcoin with your local currency. you'll end up paying a higher price.

In that case of your local currency it must be implemented and be well recognized so that you will not end up paying higher price over market price. That scenario really happens because of more alternative coins exchanging btc also for their investment methods of earning bitcoin as assets to harvest in the future.
You're right. In addition, there are many ways also to trade bitcoin. But in the case of local currency you are using, there might be changes of the price over market price especially when transaction matters. If you're just using only a wallet make sure that it is secured because no matter how good you are at selling your bitcoin, there's a tendency that others will watch over you in getting it. Always beware this is not only about market price but for the sake of your hardships in selling it over the market price.

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July 28, 2017, 12:50:50 PM
 #17

Not that easy as you are writing the topic here. People need a lot of trust before you can trade over localbitcoins. The one thing you said, "why not look for buyers" who accepts higher prices? Well no, it doesn't work like that. People are very smart and if you want to sell at high then at the same time those people want to buy at lowest possible price. Remember one thing that you me and the rest world is same and everybody wants to earn profit forever. So it's little off the possible scenario to grab any kind of margin as you are wishing.


You've got one thing wrong there, people are generally not that smart. Or else people selling Bitcoins over at Ebay wouldn't be making a living doing so.
In some countries local sellers are selling Bitcoins with almost 100% profit, forgot whoch specific country it was though.

Sure, you're not going to get profit like that on established platforms, but it is possible.
Not saying it's very ethical either.

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July 28, 2017, 01:02:15 PM
 #18

Not that easy as you are writing the topic here. People need a lot of trust before you can trade over localbitcoins. The one thing you said, "why not look for buyers" who accepts higher prices? Well no, it doesn't work like that. People are very smart and if you want to sell at high then at the same time those people want to buy at lowest possible price. Remember one thing that you me and the rest world is same and everybody wants to earn profit forever. So it's little off the possible scenario to grab any kind of margin as you are wishing.


You've got one thing wrong there, people are generally not that smart. Or else people selling Bitcoins over at Ebay wouldn't be making a living doing so.
In some countries local sellers are selling Bitcoins with almost 100% profit, forgot whoch specific country it was though.

Sure, you're not going to get profit like that on established platforms, but it is possible.
Not saying it's very ethical either.
Reading back on the past about 10-15% more on the price but talking about 100%? What the hell did they do sell on that price point and only dumb persons would able to buy such expensive coin. Back to topic, this is just an arbitrage trading if you do just do this on exchanges but on other people it would be somehow tough since if you are just starting people wont really trust you for the first time which means trust would be the issue here.This kind of buy and sell would really be profitable if you do really know on what you are doing.

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July 28, 2017, 02:01:21 PM
 #19

If you could get bitcoin at a certain price and then sell it to another exchange or person... how profitable would this be?  For example bitcoin is 2500 a coin.  You get them at 2500 a coin.  Localbitcoins it seems like ppl who buy bitcoin actually offer you more than 2500 per coin right?  If thats the case, why not look for a buyer... then buy your bitcoin from an exchange... then sell that bitcoin to a buyer for profit?  The issue of course is you need to make sure the price doesnt drop much between when you get the actual bitcoin in your wallet and doing the transaction with the other user.  Does anyone know how much money ppl are buying over the market price for bitcoin on localbitcoins?  For example if price is 2500... are people paying like 3 percent for it?  Thus 2575 etc for a coin?  Or is it the other way around?  Because i recalled didn't people sell bitcoin at face value or actually get less than face value?  But since bitcoin gotten really big, its actually worth more than cash value?




That's exactly what our exchangers in my country are doing, they buy Bitcoin on the markets and then sell them to someone else who just want to buy a small amount of Bitcoin, they have to pay a higher price so that exchangers can earn good profits with that strategy.
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July 28, 2017, 02:35:11 PM
 #20

If the market is similar to 2014-2015 where price is stagnant for weeks, then yes you can try to do arbitrage trading without the worry of losing too much value while you're transferring coins from one exchange to another. Right now the change in price is so fast that you wouldn't be able to profit off of arbitrage, plus selling it in localbitcoins would also take up a lot of time before being sold.




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