Selling Bitcoin Over Market Price?

[viking02]

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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[AK47-]

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.

[DuaLipa]

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.

[salmanahmedone]

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

[Sweetbtc]

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.

[CyberKuro]

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.

[erep]

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.

[Trela]

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

[DaMut]

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 ?

[eternalgloom]

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.

[Midas111]

 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.

[Midas111]

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

[pooya87]

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.

[trecore4]

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.

[Clavulanic]

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.

[Klausi]

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.

[eternalgloom]

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.

[Fatunad]

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.

[Warry]

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.

[dothebeats]

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.

[posternat]

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.

The first thing I noticed was that the minimum was $500. The second thing I noticed was that it was definitely one of those Services where you could lose out in the end by a reversal or something like that. But if you did it right and you transfer the money out of that service quickly enough then you're only going to have to do them when account goes negative. With legitimate Services I've seen anywhere from 15 to 50% over market price, at the same time you can always set up your say mad and people usually jump on that pretty easy.

[HasHe]

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?

Yes,i too have seen some buyers in localbitcoins.com willing to buy bitcoins more than the market price.I think they expect bitcoin price to rise high soon and so they buy at such high price.We can buy bitcoins at some exchange and then just sell it to such buyers in localbitcoins.com.We could check the best high price and sell to them.

[viking02]

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?

Yes,i too have seen some buyers in localbitcoins.com willing to buy bitcoins more than the market price.I think they expect bitcoin price to rise high soon and so they buy at such high price.We can buy bitcoins at some exchange and then just sell it to such buyers in localbitcoins.com.We could check the best high price and sell to them.

Are there many people that do this and it does work etc?

[mobnepal]

Are there many people that do this and it does work etc?

I am selling my bitcoins at higher price in my country because there is no any legally operating exchange platform here. So all bitcoin or crypto trading is p2p based trading and I can set rate that I want and buyer will agree at some point. Usually I get 10% over market rate but I can't buy back bitcoin directly from exchange with those cash because no any exchange platforms accept our cards.  

[PancherBitCoin]

Are there many people that do this and it does work etc?

I am selling my bitcoins at higher price in my country because there is no any legally operating exchange platform here. So all bitcoin or crypto trading is p2p based trading and I can set rate that I want and buyer will agree at some point. Usually I get 10% over market rate but I can't buy back bitcoin directly from exchange with those cash because no any exchange platforms accept our cards.  

I also ran into this problem and even in countries where banks start to deal quietly with crypto currency, they manage to take 4% of commission for the withdrawal of Bitcoin in real money. And perhaps this is not the last payment for cashing money.

[ss890]

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.

The first thing I noticed was that the minimum was $500. The second thing I noticed was that it was definitely one of those Services where you could lose out in the end by a reversal or something like that. But if you did it right and you transfer the money out of that service quickly enough then you're only going to have to do them when account goes negative. With legitimate Services I've seen anywhere from 15 to 50% over market price, at the same time you can always set up your say mad and people usually jump on that pretty easy.

Peoples are not that mad now a days and they also do the trade very carefully. Local bitcoin is still wonder for me as to how they really work even the price of bitcoin is very high. The price can be set by users and there are people selling the prices more than 10-15 percent of market price as you said. It's better to choose normal wallets and do a regular buy and sell strategies to earn more bitcoins. You can buy bitcoin at the market price on the wallet exchangers. Then you can sell them at higher rates when bitcoin goes up. That's the simple strategy to follow.

Local bitcoin is not real deal when we have to buy as people are putting crazy price tags on them.

[viking02]

Hey guys i have another thing i want to ask related to this.


Let say i could find buyers pretty easily for bitcoin where they would pay me say 2 percent extra in bank transfer or cash for my bitcoin.  If that is the case, couldn't when i have a buyer who wants bitcoin now and then they tell me how much i want to buy, i go and buy the bitcoin at an exchange like bittrex... let say the price is 3k for example to make it simple.  Then the agreed price with him is say 3k + 2 percent so 3060.  I buy the bitcoin from bittrex and i believe it would be like 3k x 0.0025 percent fee so 7.50 fee so 3007.50 total.  Then i sell the bitcoin to someone for bank transfer or cash deposit for 3060 so profit 52.50?


The thing is i think this would work only if when you get a message from a buyer they want bitcoin now, then you agree with them on the price and say they offer 2 percent fee... you go to buy bitcoin from bittrex immediately at the price and then make money on that?  Could someone tell me if this would work or not?  A way i see it not working is if that person wants to use a different exchange btc price like kraken?  I know some ppl use the google btc to usd rate whereas others use kraken or another exchange etc.  But if you guys agree on the fee and you see how much it cost on bittrex... like if its 3000 on bittrex and say okay its 3000+2% so 3060... then they agree.  Then you say okay give me a few minutes... then you buy the btc from bittrex... then trade it with them few minutes later... wouldn't that work or not?  Because im sure ppl dont mind like okay the price is this much now... i will send you it in few minutes?  Well of course it does take few minutes for the coins to be sent anyway no matter what.  Can someone tell me what would work/not work in this scenario? 


Because to me it seems like if you have a buyer who messages you and ask hey do you have any bitcoin, then you say okay i do how much you looking for... then they say this amount, then you say okay we can do it at this rate... like when you checking bittrex and going to make the order and he says okay 3000 + 2 percent fee so 3060 total... then you enter the trade and then you pretty much the lock price at that point so there is no price fluctuations... wouldn't that work or not?  Like once they said okay i agree.  Then you immediately buy it.  Then when you buy it, anyone know how long it takes for the bitcoin to hit your bittrex wallet?  And once that happens, they would send you bank transfer or deposit cash... then you agree on the okay 1.02939 bitcoin is the amount will be sent?  Thus you already agreed on the amt of bitcoin you will be sending? 


Would like someones opinion on this.  Because i thought this would be hard because say you have bitcoin, then you look for buyers, well if price goes down, you cannot make profit since price goes up and down a lot.  But if they agree on price/amount of bitcoin, then you buy immediately...and then sell to them?
 

And also how much in fees would you say is needed to make this work?  Because bittrex charges 0.025% fee so 3k is 7.50.  Then of course when you send bitcoin, you probably have to pay like 2 dollars or a bit more in fees so thats 10 dollar total... but they pay you 3060... so you profit 50 dollars each time with my figures?  Can someone tell me if my logic here is right or wrong here?  Because i think i could find bitcoin buyers who would pay 2 percent.  And i believe there are buyers that might even pay 5 percent or so?

[JL421]

This isn't possible except in korea if you see bithumb prices it is always more than the actual rate of bitcoin. In a interview one representative told korea has less traders when compared to the world but the exchanges still have more volumes claiming the demand is really high in korea

[1NV3ST0NM3]

This isn't possible except in korea if you see bithumb prices it is always more than the actual rate of bitcoin. In a interview one representative told korea has less traders when compared to the world but the exchanges still have more volumes claiming the demand is really high in korea

You are right in that  :

https://www.korbit.co.kr/?locale=en      here is an example on the prices over Korea I've noticed that and there's a good way to earn money if you have any partner located in KR.

[Rahar02]

Bitcoin worth more than cash value obviously, but we can't buy bitcoin according to market price and sell it to someone over the market price, simply because people will consider to buy bitcoin on exchanges or people who sell it for a cheaper price.
However, we don't have to do that because bitcoin value keep growing over time, all we have to do is waiting for uncertain time to sell bitcoin at higher rate, if you want to.

[viking02]

Bitcoin worth more than cash value obviously, but we can't buy bitcoin according to market price and sell it to someone over the market price, simply because people will consider to buy bitcoin on exchanges or people who sell it for a cheaper price.
However, we don't have to do that because bitcoin value keep growing over time, all we have to do is waiting for uncertain time to sell bitcoin at higher rate, if you want to.

Well the thing is what if you know people who are willing to buy bitcoin via bank transfer and paying 2 percent for your bitcoin and does not use an exchange?  And say they would message you and say hey do you have any bitcoin now?  Then you say yes then you google the rate and say okay rate is 3000 +2 percent so send me 3060 bank transfer and i will send you 1.032 bitcoin etc.  Thus you agree on the price and actual amount of bitcoin.  Then once he say okay, then you immediately buy the bitcoin at that price on bittrex.  Then you take 5-10 minutes to send him the bitcoin after you receive bank transfer.  So wouldn't this work based on what i described or not?

[BitMaxz]

Bitcoin worth more than cash value obviously, but we can't buy bitcoin according to market price and sell it to someone over the market price, simply because people will consider to buy bitcoin on exchanges or people who sell it for a cheaper price.
However, we don't have to do that because bitcoin value keep growing over time, all we have to do is waiting for uncertain time to sell bitcoin at higher rate, if you want to.

Well the thing is what if you know people who are willing to buy bitcoin via bank transfer and paying 2 percent for your bitcoin and does not use an exchange?  And say they would message you and say hey do you have any bitcoin now?  Then you say yes then you google the rate and say okay rate is 3000 +2 percent so send me 3060 bank transfer and i will send you 1.032 bitcoin etc.  Thus you agree on the price and actual amount of bitcoin.  Then once he say okay, then you immediately buy the bitcoin at that price on bittrex.  Then you take 5-10 minutes to send him the bitcoin after you receive bank transfer.  So wouldn't this work based on what i described or not?

Well i think it will be depends on us either to agree with that deal or not if you are living here in my country you can buy bitcoin instantly without the addiction rates .. we have an exchange site locally here that i think only people who are living in my country can join and buy bitcoin instantly here.. so there is no problem for us to buy in other 3rd party sites with more interest..
And this type of interest i think is just like you re buying in localbitcoin..
For wise buying bitcoin always looking for smallest rate and safe  because if you found some to deal with smallest rate but not safe better to don't deal if you found a trusted someone but they are giving a high rate well its good to deal but you will hurt about the rate.. 

[viking02]

I used to sell Bitcoins here on my country for almost a 15% over market price, people still buy it because they know that bitcoin will always go up.
the problem is that i can not buy bitcoins again with that 15% of profit because everybody sells with a 15%-20% over the price.
So yes, in my country bitcoin is so expensive.

So you are telling me if you could find someone that would sell you bitcoin for 5 percent fee... then you could find someone else to buy your bitcoin for 12 percent fee... wouldn't that mean everyone would buy bitcoin from you etc?   Where are you buying bitcoins from where you pay that much over the market price?  Is it your country website, exchange or others?

[viking02]

Can someone tell me if this strategy would work?


Let say i have an account at bittrex to buy bitcoin.  First off, i could buy bitcoin instantly and receive bitcoin instantly right if i use market order etc.  Thus buy at market order?


So let say i know a bunch of people who wants bitcoins.  Let say they message me and say hey im looking for around 3000 usd worth of bitcoin.  I'll pay you 2 percent so about 3060 usd for 3000 usd worth of bitcoin.  You then check price on bittrex and then also agree on the rate you guys are using.  Like say okay 1 btc = 3500.  Thus he would pay you 70 dollars for the 2 percent so 3570.  You calculate it on google and say okay i will send you 1.0023 btc.  But before you do that, you check to see what the current rate is at bittrex.  So say you could buy 1.0023 btc on bittrex for 3500 dollars... you tell the other guy okay i can do 3500 worth of btc now.  Then say okay btc = 3500 now on google so i will send you  1.0023 btc okay?  Then if he says okay, you quickly buy that amount on bittrex.  Then you pay i believe 0.0025 percent fee so 8.75 usd.  Then he sends you either a bank transfer for 3570 or he goes to the bank and deposits 3570.  But no matter what, you agreed on the 1.0023 btc.  So if you do that, wouldn't you be making 70 - 8.75 = 61.25 doing this? 


Thus assuming you can find someone looking to buy... then they agree and offer you at least 2 percent... then you say okay, then you check price and confirm it with him okay btc is this price i will send you 1.038 btc deal?  And then they say yes, you immediately buy that amount on bittrex?  Or is there something here where this would not work?


Because in this scenario, its like you buy bitcoin hold it... then wait for a buyer.  You are waiting for someone to message you and when they do, you confirm the btc rate... then buy exactly amount on bittrex and then sell them for profit?  So it works for both people because the guy sells it make profit.  And for the other guy, well he gets his btc quick and doesn't have to buy through exchange etc.


Can someone tell me if this would work?  And even if prices on bittrex moves, surely its not big deal because its basically you have one computer screen that has him confirm... then the other screen you have bittrex exchange and then you pretty much buy it very quickly to make sure you lock in the price?  Im guessing 2 percent is probably the minimum you would need here?  Because imagine you could do this with say 5 people a day... say they want to buy 3500 worth of btc and pay 2 percent fee.. you make around 60 per transaction and around 305 dollars total etc.  So can someone tell me if this works based on the scenario?

[kevpantof]

That’s possible, if you know guys that want to buy and they don’t have the resources to buy directly you can offer to sell to them at a little higher price and since they are desperate to get the coins they wont mind adding  a little bit higher money for you.

[eagle10]

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.

It's too risky. Even when we consider the supply and demand for bitcoin vs the buyers, bitcoin price is highly volatile. We can't say that next week the price is going up but the next day the price fell down 50%. It is happening. It is better if find investors to fund you and create bitcoin exchnage center.

[viking02]

That’s possible, if you know guys that want to buy and they don’t have the resources to buy directly you can offer to sell to them at a little higher price and since they are desperate to get the coins they wont mind adding  a little bit higher money for you.

Well i know very few people that want to buy btc but all of them are usually willing to give an additional 2 percent vig.  So if price is 4000, they would give 4080 for example.  The thing would be either they message me if i have bitcoin or i could ask them if they want bitcoin.  Usually its 2 percent vig... so if thats the case and they say they want 4k in btc for 4080 bank transfer or wire... then i look at the price on bittrex and tell them what is it and what the total amount is.. like okay its 4k so 4080.  Then the moment they agree, then i immediately click buy the bitcoin now.  Wouldnt that work?  People say issue is bitcoin is very volatile which is true but if you agree on the price right now and how much btc is being sent... say okay i will send 1.02 btc for your 4080 bank transfer... then the price is locked.  So whether i send the btc right in a few minutes or a bit later, we lock in the price.  But of course i would just rather do it now since when they are asking, then they want the btc now.  Or i message the guy asking if they want to buy btc etc.


So based on this, would this work with bittrex or not?  The other thing is usually when we look at the price, we look at the google btc to usd price.


So would this be a problem?  Because right now

google btc price = 4340.95
bittrex btc price = 4329.50


So can someone look at my math and tell me if this is correct?  Say they want 1 btc.  But we use google price so its 4340.95.  Add 2 percent... 86.82


So total they send me bank transfer or wire is 4427.77.


When i buy 1 btc at bittrex, price is 4329.50.  The 0.25% fee is 10.82


So i pay 4340.35 to bittrex.


4427.77 - 4340.35 = 87.42.


So wouldn't here, you make 87.42 profit if doing this with these 2 prices when selling 1 btc to someone who offers 2 percent vig when you go buy 1 btc at bittrex then sell it to them?

[viking02]

And lets add to this.  Let say the google btc price and the bittrex price is the same thing.  If they offer me 2 percent, aren't i going to make a little less than 2 percent since the price is the same and the only thing is im paying that 0.25 percent fee to buy from bittrex?


So example say google btc price and bittrex price is same.  Let say 4k.  He gives me 2 percent so i get 4080.  Now i buy 4k worth of btc at bittrex.  The fee of 0.25 percent is 10 dollars.  So it cost me 4010 at bittrex right?  Thus i make 70 dollars here?


The thing that is confusing is when i look at the btc price on bittrex, im looking at the last price.  But that price is the buying or selling price?  How far off is the price when buying vs selling?  Example say it shows the price as 4000 the last price.  What is the buying price around and selling?  Im guessing its not off more than a few dollars?  And if so, how much off usually?  I dont have bittrex account.  The other thing is when buying at bittrex, can you buy with usd in your account?  For example say i want to transfer 10k from my bank to bittrex.. solely to buy btc so i could sell it to someone where they offer me 2 percent and pay me by bank transfer or wire.  Well couldnt it keep repeating this process if i find buyers who want btc and offer me 2 percent?  Thus once i bought everything with that 10k ... then with the money the buyers send me to my bank, i just deposit another 10k or more in my bittrex account to keep buying?  Of course i believe these deposits cost money right?  Like if you want to do a bank transfer to your bittrex account?  Or only if you do wire?  Do they accept ach transfer?  Because i think ach transfer are free.


The other thing is couldnt you also do this on coinbase as well?  Thus send bank transfer there.  Then buy btc... but is the fee 1 percent still or not?  Because if it is, there is a huge fee since i would only get 2 percent extra so not much profit there?


Because if this is true, as long as you could find a buyer, then wouldnt this work?  The thing is how is there any volatility if im waiting for someone to tell me they want to buy btc now.  Its not like i buy lot of btc now... then wait for a buyer.  because if you do that and btc goes down, well you lose money doing this.  Thus the moment i get a message i want btc... i say okay how much you want and lets check the price.  Then they agree, then i say okay i send you this amount of btc for this price... he agrees.  Then i go buy it off bittrex, then he send me bank transfer, i then send him the btc.  Can someone tell me any issues with this?

[swscowods]

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?

Its very possible, in a situation where people need the coin urgently and there are only limited sellers you can make use of that opportunity and sell over the market price and since they have no choice they would just have to purchase from you.

[investeerder]

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?

Its very possible, in a situation where people need the coin urgently and there are only limited sellers you can make use of that opportunity and sell over the market price and since they have no choice they would just have to purchase from you.

If there's no exchanger available on there side then people will surely be pushed to buy some coins over the market price by buying it peer to peer to the people around him and this one is pathetic but we don't have a choice but to purchase it since the people is in need an immediate balance to their side. But buying peer to peer online is not recommended since there are some serious issues of scamming happenings.

[amaral1977]

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?

You can either do arbitrage. That is play on the price difference between exchanges. Thats not that easy because bitcoin transactions are slow and the market tends to the same price over time. However you can sometimes take advantage of local diferences (eg some countries paying higher) or less liquidity (again dangerous because with low liquidity there are less deals to be made:)).

On local bitcoins you are trying to provide a service. You are selling BTC to someone who can´t or won´t go o an exchange so you put on a fee to your price. That fee will be higher if you are more trusted as a seller.  

Other reason to ask for fees is the fact that everyone thinks BTC is going higher so to sell your BTC to someone you are trying to get a part of it´s future valuation.

[viking02]

Okay so right now can someone tell me why the btc to usd price is a lot different on every site?


google shows price at 4631.70

coinbase shows price at 4,669.01

bittrex shows price at 4585.23



So does that mean right now it cost 4585.23 to buy 1 bitcoin on bittrex?  This makes no sense because if that is true, even if you sell it at market rate to someone else... wouldnt you make money on this?  Or if you buy it on bittrex now and sell it at coinbase? 


I believe the price on bittrex is very similar for the buy/sell price so anyone can explain this?

[amaral1977]

Okay so right now can someone tell me why the btc to usd price is a lot different on every site?


google shows price at 4631.70

coinbase shows price at 4,669.01

bittrex shows price at 4585.23



So does that mean right now it cost 4585.23 to buy 1 bitcoin on bittrex?  This makes no sense because if that is true, even if you sell it at market rate to someone else... wouldnt you make money on this?  Or if you buy it on bittrex now and sell it at coinbase? 


I believe the price on bittrex is very similar for the buy/sell price so anyone can explain this?

The price on each exchange depends on people willing to pay. usally it show the last price someone payed for that coin. IF you look at lower liquidity coins you can understand it better. You could have a sell order for 2 dolar and a buy order for 1 dollar. in a split second the price can go form 1 to 2 dollars if there is somone o buys at 2 and next second someone willing to sell at 1.

That is happening every second on every exchange depending on volume and number of transactions. At coinbase the prices reflect the fee of the service so you dont sell at coinbase at the same price you buy.
when you do arbitrage you must take care of the market movement, the transaction fees and the exchange fees. All this added makes arbitrage difficult.

[viking02]

So are buying/selling prices roughly the same then?

Can you tell me what is the buy price of btc on bittrex right?  And tell me what is the btc to usd price on google when you check on bittrex?  Im curious how far is the price difference?  Because if its the same... then couldnt i just make profit if someone is willing to pay me 2 percent extra?  Like if they want 1 btc... i check price on bittrex.  Then i tell them okay its this price + 2 percent so this much?  However i would like to use the btc to usd rate on google though because thats how i usually do it with ppl i trade with.  So would this work?  Like once he agrees, then i immediately buy the btc on bittrex.  Then he sends me the money online...then i send him that amount of btc etc?  Thus its not like im buying and waiting to sell for 2 percent more.  Im waiting for someone to tell me i want to buy btc now...do you have?  Then i check bittrex and say sure... price is this plus 2 percent.  Then they agree and pay me money, then i send btc.  So wouldnt i make around 2 percent less the fees?  Thus every 1000 dollars of btc i buy and sell to that person, wouldnt i make around 18 dollars or so?

[amaral1977]

So are buying/selling prices roughly the same then?

Can you tell me what is the buy price of btc on bittrex right?  And tell me what is the btc to usd price on google when you check on bittrex?  Im curious how far is the price difference?  Because if its the same... then couldnt i just make profit if someone is willing to pay me 2 percent extra?  Like if they want 1 btc... i check price on bittrex.  Then i tell them okay its this price + 2 percent so this much?  However i would like to use the btc to usd rate on google though because thats how i usually do it with ppl i trade with.  So would this work?  Like once he agrees, then i immediately buy the btc on bittrex.  Then he sends me the money online...then i send him that amount of btc etc?  Thus its not like im buying and waiting to sell for 2 percent more.  Im waiting for someone to tell me i want to buy btc now...do you have?  Then i check bittrex and say sure... price is this plus 2 percent.  Then they agree and pay me money, then i send btc.  So wouldnt i make around 2 percent less the fees?  Thus every 1000 dollars of btc i buy and sell to that person, wouldnt i make around 18 dollars or so?

If you head to the marketplace on this forum you will notice lots off advertisements stating they are selling or buying "preev+ x%". Preev is one of the most used price indicators around the forum, but you can use whatever price you choose. It is usual to "lock" the price once you agree on a transation so that you cant delay a transation because you are waiting for the prce change. So someone would send you a message saying " ok, we agree that i sell 0,5 BTC for 2000$. and even if the price changes the next minutes hours your transation is a the agreed price. If you can provide a service here selling and buying BTC , yes you can make a profit.

[Fatunad]

So are buying/selling prices roughly the same then?

Can you tell me what is the buy price of btc on bittrex right?  And tell me what is the btc to usd price on google when you check on bittrex?  Im curious how far is the price difference?  Because if its the same... then couldnt i just make profit if someone is willing to pay me 2 percent extra?  Like if they want 1 btc... i check price on bittrex.  Then i tell them okay its this price + 2 percent so this much?  However i would like to use the btc to usd rate on google though because thats how i usually do it with ppl i trade with.  So would this work?  Like once he agrees, then i immediately buy the btc on bittrex.  Then he sends me the money online...then i send him that amount of btc etc?  Thus its not like im buying and waiting to sell for 2 percent more.  Im waiting for someone to tell me i want to buy btc now...do you have?  Then i check bittrex and say sure... price is this plus 2 percent.  Then they agree and pay me money, then i send btc.  So wouldnt i make around 2 percent less the fees?  Thus every 1000 dollars of btc i buy and sell to that person, wouldnt i make around 18 dollars or so?

If you head to the marketplace on this forum you will notice lots off advertisements stating they are selling or buying "preev+ x%". Preev is one of the most used price indicators around the forum, but you can use whatever price you choose. It is usual to "lock" the price once you agree on a transation so that you cant delay a transation because you are waiting for the prce change. So someone would send you a message saying " ok, we agree that i sell 0,5 BTC for 2000$. and even if the price changes the next minutes hours your transation is a the agreed price. If you can provide a service here selling and buying BTC , yes you can make a profit.

The thing you said was right on which most sellers on here do really prefer or basing on preev.com price plus on the interest they do set in and as being said even the price moves if the deal was on that price point then it doesnt really matter even the price would moved up or down.Its would really be still the same.On this way buying selling might really be profitable for you if you do really know on what you are doing.

[viking02]

Hey all.  So if i do this on bittrex, i would have to get USDT right?  Then once i have usdt... i buy bitcoin... then i could sell it for 2 percent over market price and make profit?


For example it shows btc price is 4598.70 now on google btc to usd


On bittrex, it shows price as 4580 for the bid price.  Thus someone is offering it at 4580.00.  And it shows the total price to be 4591.45.


So that would mean i could sell it to someone at 4598.70 + 2 percent = 4690.44


4690.44 - 4591.45 = 98.99.


So that means i would make $98.99 per every bitcoin i can buy/sell at these prices right?

[logicgate]

So are buying/selling prices roughly the same then?

Can you tell me what is the buy price of btc on bittrex right?  And tell me what is the btc to usd price on google when you check on bittrex?  Im curious how far is the price difference?  Because if its the same... then couldnt i just make profit if someone is willing to pay me 2 percent extra?  Like if they want 1 btc... i check price on bittrex.  Then i tell them okay its this price + 2 percent so this much?  However i would like to use the btc to usd rate on google though because thats how i usually do it with ppl i trade with.  So would this work?  Like once he agrees, then i immediately buy the btc on bittrex.  Then he sends me the money online...then i send him that amount of btc etc?  Thus its not like im buying and waiting to sell for 2 percent more.  Im waiting for someone to tell me i want to buy btc now...do you have?  Then i check bittrex and say sure... price is this plus 2 percent.  Then they agree and pay me money, then i send btc.  So wouldnt i make around 2 percent less the fees?  Thus every 1000 dollars of btc i buy and sell to that person, wouldnt i make around 18 dollars or so?

If you head to the marketplace on this forum you will notice lots off advertisements stating they are selling or buying "preev+ x%". Preev is one of the most used price indicators around the forum, but you can use whatever price you choose. It is usual to "lock" the price once you agree on a transation so that you cant delay a transation because you are waiting for the prce change. So someone would send you a message saying " ok, we agree that i sell 0,5 BTC for 2000$. and even if the price changes the next minutes hours your transation is a the agreed price. If you can provide a service here selling and buying BTC , yes you can make a profit.

The thing you said was right on which most sellers on here do really prefer or basing on preev.com price plus on the interest they do set in and as being said even the price moves if the deal was on that price point then it doesnt really matter even the price would moved up or down.Its would really be still the same.On this way buying selling might really be profitable for you if you do really know on what you are doing.

Yes if you are smart with buying and selling, you can make decent money here just by some smart moves. The factor that deal price does not change can really do you favor if used properly, that’s why people enjoy trading because here they can make profit on daily basis by some good market analysis.

[jerry0]

So would this work here or not?  Say you have a few people who wants to buy bitcoin and they would message you such as do you have any bitcoin.  You say yes and they willing to give you 2 percent on top.  Then you look at the price on bittrex for example.  Then you tell them the price and say you use bittrex.   Such as okay it will be this amount plus 2 percent so this much total USD you send me and i will send you x.xx amount btc okay?  then once he say yes... you buy the btc on bittrex.  Then he send you the usd transfer, then you send him the btc.  So would this work or not if u using bittrex to buy btc then?  And if so, that means u need usd on bittrex?

[jerry0]

Is it hard/easy to buy bitcoin on gdax/gemini and then look for a buyer on local bitcoin who would pay you by depositing cash in your bank account?

[jerry0]

Are there really people that are paying 5 percent or more extra on top of the fees to buy btc on coinbase/gdax/gemini?


If thats the case, couldn't someone just buy btc there... then sell it to the other person at the agreed upon price?  Like imagine a person says they are looking for btc and then you check the price.  Then the other person agrees to buy from you at a certain rate plus 5 percent.  You then immediately go and buy btc on coinbase/gdax/gemini.  Then they sell it to the other person at agreed upon price plus 5 percent or more.  Wouldn't this work?  And do this quite a bit then you make money off the percentage?  Say you buy 10k in btc on gdax.  Someone pays you 10500.  They deposit cash in your bank account or wire you the money etc. 

[jerry0]

Does anyone know what is best site/way to sell btc at markup price?  Thus if you sell it to coinbase/gdax and gemini there is a small fee.  But with the other method you get money on top.  So localbitcoins is best to do this?


The other thing is wouldn't it make sense to just buy btc through gdax/gemini... then sell it to someone at markup?  However, you make sure the price is locked at the same rate or a bit higher?  If you could sell it at 5 percent, isn't that worth it?

[jerry0]

Anyone?

[OriginTrain]

As other have stated, your biggest risk here is the time delay before finding a buyer. Sure you may have a 3%-10% markup, but how many days do you know that BTC hasn't dropped or raised more than 3-10%? It's an extremely volatile asset thus the profit you are thinking of is offset by the high risks involved in volatility.

[strongwarrior238]

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 believe the price of bitcoin at the moment is very suitable for us to buy. Now after recovering to $ 11,800, bitcoin prices have started to fall sharply above $ 2,000 at the current $ 9600 level and are continuing to correct. So this is the time for us to buy commercial bitcoin, surfing short.

[Btc_1856]

Now it is not the good way to withdraw Bitcoin at this price because we know with a month or two the price of Bitcoin will increase. When we find potential in Bitcoin we to hold them for some time in order to make more profit when price increases.

[Makrochain]

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?

We can see that bitcoin prices are recovering in the last few days, so for that reason we should always monitor the market to be able to sell bitcoin at the highest price. With the current price increase, I think the bitcoin price will probably hit $ 12,000 in the coming days, so at this point it should keep the bitcoin rather than sell it off.

[adaseb]

This is not a good idea.

Basically today there was a trial where some local Bitcoin user was charged with money laundering because he did run a money transmitter business without a license.

If you want to cash out and not deal with these issues just use an exchange or sell it at the spot market value and not with a mark up.

[vidprab5]

It is possible to buy Bitcoin and sell it at a higher price than the market price rate. But the thing there is what kind of people would like to buy at a higher rate that is above market price?Well, let me guess– traders or newbies? maybe one of them. I know some exchangers will buy from people at a price below the market price and then sell to others at a higher price rate.

[gabmen]

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?

We can see that bitcoin prices are recovering in the last few days, so for that reason we should always monitor the market to be able to sell bitcoin at the highest price. With the current price increase, I think the bitcoin price will probably hit $ 12,000 in the coming days, so at this point it should keep the bitcoin rather than sell it off.

Ah dude, i don't think what you just said there has any connection to op's post. Probably you haven't read the entire post yet :p the problem with what op's trying to say is that buyers mkst likely would rather buy from exchanges as well to buy at a lower price with less txn fee. It's two way. Op's idea is for selling and buyers can also opt for the same when buying

[adzino]

It is possible to buy Bitcoin and sell it at a higher price than the market price rate. But the thing there is what kind of people would like to buy at a higher rate that is above market price?Well, let me guess– traders or newbies? maybe one of them. I know some exchangers will buy from people at a price below the market price and then sell to others at a higher price rate.

He is not talking about overcharging newbies or other traders by selling them at higher price. What he is trying to say that there are differences in price on different exchanges. Buy from exchanges whose rates are low and sell in the ones where the price is high. What he is missing is that there are other fees which he isn't considering. And transferring coins from one exchange to another exchange takes time since there is a delay. During that delay the prices might change and he may suffer a lot.

[mersal]

It is possible to buy Bitcoin and sell it at a higher price than the market price rate. But the thing there is what kind of people would like to buy at a higher rate that is above market price?Well, let me guess– traders or newbies? maybe one of them. I know some exchangers will buy from people at a price below the market price and then sell to others at a higher price rate.

He is not talking about overcharging newbies or other traders by selling them at higher price. What he is trying to say that there are differences in price on different exchanges. Buy from exchanges whose rates are low and sell in the ones where the price is high. What he is missing is that there are other fees which he isn't considering. And transferring coins from one exchange to another exchange takes time since there is a delay. During that delay the prices might change and he may suffer a lot.

This is called arbitrage trading right.

This is happening because the price of crypto currencies are determined on the demand of that particular exchange so the price varies from exchange to exchange, so we can buy at one exchange and sell them in another but now the arbitrage trading with bitcoin is low risk since the transaction are happening faster with 1sat/byte so we can make little money in short time.

[Pamadar]

It is possible to buy Bitcoin and sell it at a higher price than the market price rate. But the thing there is what kind of people would like to buy at a higher rate that is above market price?Well, let me guess– traders or newbies? maybe one of them. I know some exchangers will buy from people at a price below the market price and then sell to others at a higher price rate.

He is not talking about overcharging newbies or other traders by selling them at higher price. What he is trying to say that there are differences in price on different exchanges. Buy from exchanges whose rates are low and sell in the ones where the price is high. What he is missing is that there are other fees which he isn't considering. And transferring coins from one exchange to another exchange takes time since there is a delay. During that delay the prices might change and he may suffer a lot.

That's how risk taker take their chance trying to do this arbitrage trade advantage, who knows what will happen to the coin value after buying it from one exchange and transfer it to another, the fee should be consider beforehand, right after that the time delayed in just a matter of minutes the price will change
and chances to lose your money is very quick.