Why is bitcoin price so much lower on bittrex as oppose to coinbase/gdax/gemini?

[jerry0]

If you are selling btc, you are getting a lot less on bittrex compared to selling it on coinbase/gdax/gemini.  Can someone explain this?


Does it have anything to do with the altcoins or something such as bittrex offerings trading altcoins so because of that, they are giving less money per btc as oppose to coinbase/gdax/gemini which only deals with btc, eth and maybe litecoin?


Also if you are buying btc, wouldn't it make sense to buy on bittrex as oppose to those other sites.  If you are selling, then sell it on the other sites?  However the issue seems to be i believe bittrex doesnt allow fiat deposits thus not bank wire or ach deposits right?

[junoreactor]

Probably Bittrex try to create "sure trades" and wait for the fish to bite. I mean this is a living proof that we are still at the very beginning of cryptotrading, soon these opportunities will become rare or inexistent, but I am sure right now many still bite, lots of newbies.
That's also what will happen with banks in US offering Bitcoins to their customers, profits guaranteed each time unless the customer is not a noob and can check preev.com in real time. 

[aanbudi]

Probably Bittrex try to create "sure trades" and wait for the fish to bite. I mean this is a living proof that we are still at the very beginning of cryptotrading, soon these opportunities will become rare or inexistent, but I am sure right now many still bite, lots of newbies.
That's also what will happen with banks in US offering Bitcoins to their customers, profits guaranteed each time unless the customer is not a noob and can check preev.com in real time. 

And another factor is that the Bitcoin Volume in Bittrex is very high, Bitcoin's demand will be easy to fill. As more availability, it will slightly reduce prices.

[jerry0]

So can someone here confirm that the btc prices on bittrex is much lower than gdax/gemini? 


Also if thats the case, then wouldn't that mean you should buy btc on bittrex if you can?  But don't sell it there?  However isn't it true bittrex doesn't take usd wire transfer or ach?  They have usdt but thats not fiat?  However if you want to buy altcoins, well you can but the problem is they are giving you a much worst rate?   However isn't the opposite true as well because once you sell you altcoin back to btc, you are getting it right back?  Or am i incorrect here?

[SONG GEET]

Bitcoin is traded against USDT in bittrex but in gdax, coinbase, gemini bitcoin is traded against USD. USDT (tether) is actually USD backed token whose value can fluctuate with market but try to remain same around USD.

The one who trades on USD might not trade in USDT so demand/supply for them is different which sets their prices.

[jerry0]

But if someone only plans to trade btc, eth and litecoin those that are traded against usd, isn't using bittrex pointless for them then?


However, let say you trade all those usd coins.  Wouldn't it make sense to sell those coins on gdax/coinbase for higher price?  Then find a way to buy it on bittrex?  However, this wouldn't be possible then right?

[hndrk10]

If you are selling btc, you are getting a lot less on bittrex compared to selling it on coinbase/gdax/gemini.  Can someone explain this?


Does it have anything to do with the altcoins or something such as bittrex offerings trading altcoins so because of that, they are giving less money per btc as oppose to coinbase/gdax/gemini which only deals with btc, eth and maybe litecoin?


Also if you are buying btc, wouldn't it make sense to buy on bittrex as oppose to those other sites.  If you are selling, then sell it on the other sites?  However the issue seems to be i believe bittrex doesnt allow fiat deposits thus not bank wire or ach deposits right?

I noticed that too. I am guessing that each exchange has it's own trades, basically people set the price. Some people might set sell orders at a higher price compared with users from Coinbase. If the coin is traded intensively, there won't be much of a difference.

[Pidgeon]

Not enough coins on some, not enough fiat in others.... start doing arbitrage and rack in some profits.

[bitcoinveda]

bitcoin is the decentralized currency every exchange can have their own price price values in every exchange we cant expect same price

[squatz1]

It's really just because of the differences in prices on exchanges themselves, which can be a way for people to make some quick money if they know how to play these exchanges. But more often then not, the problem is that by the time the money gets there (your bitcoin gets there) the price has already stabilized on that exchange and now you're just sitting around. Plus you have to eat up your losses on the INSANE tx fees right now.

So yeah, exchanges set prices. Each individual one averaged out is what PREEV ends up showing us (or other sources)

[jerry0]

Okay s btc price selling for usdt on bittrex is about 500 dollars less than on gdax/coinbase/gemini etc.  If thats the case, why would anyone sell bitcoin on bittrex?


The thing is bittrex is mainly for people to buy altcoins right? The thing is this. If you are getting an altcoin like singulardtv for example, you would have to sell the btc for singulardtv. Then you receive the singulardtv altcoin. However, the thing is they are giving you a btc rate of 500 dollar less as oppose to if you sold the btc for usd on gdax/coinbase/gemini etc.  I notice that the price of btc on exchanges are less than on coinbase/gemini etc. If thats the case, wouldn't it make sense if you could find someone with that altcoin you want to trade directly say your btc for their altcoin instead? Of course this is not possible for most people because you need to know and trust the other person.  Buf if you know someone that has altcoins that they want to trade for btc, wouldn't that work for both of you?  Or would it only benefit you?


Also when you sell the altcoin for btc for bittrex... you are going to get less btc for your altcoin because the price of btc on bittrex is much lower.  So is the reason why bittrex and these exchanges offer a much lower price on btc is to make money off people who but altcoins and also those that sell it for usdt where they are not smart enough to sell it on say gdax/coinbase/gemini etc?  Or is my logic wrong with the btc price being lower because when sell the altcoin back to btc... the btc price is much lower than on gdax/coinbase etc so that way, it evens out?  Im getting a bit confused at this because my though is if you only buy/sell btc, it would make no sense selling btc for usdt on bittrex unless you are using it to buy altcoins? But if you are buying btc at the lows and selling at the highs, doesn't that cost you money doing that on bittrex as oppose to gdax/coinbase/gemini?

[pooya87]

Okay s btc price selling for usdt on bittrex is about 500 dollars less than on gdax/coinbase/gemini etc.  If thats the case, why would anyone sell bitcoin on bittrex?

first of all $500 is not called "so much lower" it is only 3% lower than other places, you are talking about $500 out of nearly $16,000!
secondly it is a USDT market not USD market. people are not really using tether specially on other exchanges like bittrex. main usage is from bitfinex and poloniex.
and finally bittrex has been scamming people lately, and obviously many have left that place and that always leads to less traders, less money and fewer people buying different things.

[jerry0]

Hey there.  Well if you are selling 1 bitcoin, well that 500 dollars sure looks like a lot even though its 16000.

When you say its a usdt market, well thats sort of like usd in a way on gdax/coinbase/gemini right except you can't cash it out to your bank account?  usdt on bittrex is same as on bitfinex and poloniex right? 

But if you are buying/sell btc, eth for example, wouldn't it make no sense to do this on bittrex?  Thus the only reason to use bittrex is to buy altcoins? 

[poliy1219]

This situation is very large among the early stock exchanges, so many people make arbitrage between stocks, and then have automated arbitrage tools. Now the encrypted currency is still in the early stages of development, and I think there will be a special automatic arbitrage machine, which is inevitable in the market.

[junoreactor]

Okay s btc price selling for usdt on bittrex is about 500 dollars less than on gdax/coinbase/gemini etc.  If thats the case, why would anyone sell bitcoin on bittrex?

first of all $500 is not called "so much lower" it is only 3% lower than other places, you are talking about $500 out of nearly $16,000!

Sorry to disagree but 3% is big, very big when you are a trader, those guys are looking at 0.5%, 1% profit on the trades they place. At least that was the case when I was doing arbitrage on sports odds five years ago. 

[BTCYogi]

It generates a great opportunity for arbitrage or "arbing".

Though you need to be careful while doing it and add up all the possible fees (BTC Transfer fees, buy sell commission and price fluctuation during the processing). For "arbing" speed that matters and its should be profitable and worth your time.

[jerry0]

There is over a 1000 dollar difference between coinbase and bittrex now almost.  So couldnt you buy btc with usdt... and then sell it on coinbase assuming you send the btc to coinbase with a very high fee etc?

[jerry0]

There is around a 900 dollar difference now.  Can someone explain this?  

[jerry0]

The price on coinbase is around 15700.  Price on bittrex is around 15700 or so.  Binance is also around the same.


So is the reason due to tether going down?  Not long ago it was 1.05 or so.  Now on coinmarketcap, its 1.01.  So that is the reason why sometimes bitcoin is close to 1k difference on bittrex compared to coinbase right?  Can others here tell me if this is the reason?

[meringueberry]

The currency of Bitcoin also varies on different websites since some of them are paying on middle man or paying the tax as well for the transferring of the funds.