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Author Topic: fees and wait clarified  (Read 417 times)
matte99
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November 22, 2013, 02:03:04 AM
 #1

Hello everyone,

so I read in many places (including this forum) that trading between markets is very expensive because of the fees.
So let's say I first pay the deposits fees.
After that I buy some bitcoins in one place, with a 0.0something fee, how can I tranfer them to a different market? Do I pay fees for that?
What if I go through a private wallet?

thanks
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franky1
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November 22, 2013, 02:33:26 AM
 #2

to withdraw btc from an exchange, each exchange has their own fee. and their own 'number of confirms' required before it enters as your balance.

what a few people are doing is splitting their coins up and putting them into different exchanges. so that the funds are already confirmed to play the highs'lows differences between the exchanges. they then simply send the "profits" to other exchanges to bulk up each of these little pockets of funds.

take BTC/LTC for instance:
imagine LTC went super high on exchange 1 and you sold into BTC, you now notice exchange 2 has a low LTC price to buy back in.

the time to send BTC can be upto an hour so trying to sell LTC and buy BTC, move BTC to another exchange to rebuy cheaper LTC does not always work because by the time its confirmed, that low price of LTC you noticed on exchange 2 would have got eaten up by others.

so the strategy for removing delay is:

if you have EG 5BTC and 250 LTC put them on the 5 main exchanges (1 BTC and 50LTC each exchange). or preferably 2 heavy volume exchanges (2.5 BTC and 125LTC per exchange) to make the most out of the opportunities.

then if one of the exchanges changes direction you have the funds there to hit for profit instantly. leaving you more time to move the "profits" after to increase the pots. so if you make 20 LTC in this manner you would put 10 LTC into the first exchange making the 2 exchanges now show 135LTC.

so the strategy for reducing fee's is:
look at all the different alt coins.
take btc-e for instance.
it costs 0.001BTC to withdraw LTC ($0.66c)
it costs 0.1LTC to withdraw LTC ($0.87c)
it costs 0.1FTC to withdraw FTC ($0.01c)

so moving 10LTC ($87) can cost 1% but converting to FTC (if timed right and no major swings happen can cost under 0.5%) with all exchange swap fee's and exit fee's... but thats going way deep into "watching/counting every penny"
you could simply leave all the winning profit in exchange 2 and move it later after multiple oppertunities hit.

this is just one strategy amongst many,

i hope this makes sense

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matte99
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November 22, 2013, 12:37:05 PM
 #3

hi, this is what I thought of doing.
I was just afraid there were some kind of "hidden fees, but as long as they are around 0.02-0.05% it should be manageable
thank you very much for your opinion
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