Selling Bitcoin Over Market Price?

[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.

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[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