alex0808 (OP)
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October 11, 2018, 01:04:54 PM |
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Any possible reason for such a difference on bitcoin price between bitfinex and coinbase? Right now around $100 difference https://coinalyze.net/ ... |
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tenakha
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October 11, 2018, 02:56:33 PM |
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Sure, it is possible. Already the price of each digital currency is different in each exchange. It isn't possible to have the same price in all of them, because the demand-supply determines the price and accordingly, the price is different in every exchange.
This is called ''scalping'' and is a way to make some profit. But, the prices are always variable, that's why earning is risky with scalping.
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Seetheummerallyeah
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October 11, 2018, 04:14:23 PM
Last edit: October 11, 2018, 04:26:01 PM by Seetheummerallyeah |
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Typically yes, but in this case NO. The reason why there is a $100 difference between the BTC price on Bitfinex/Binance vs Coinbase is because Bitfinex trades BTC/USDT while Coinbase is directly BTC/USD. USDT, or tether, is currently a tiny bit below it's supposedly stable price, which is why you see the price difference. (USDT is currently $0.992881 compared to USD which is always $1)
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shield132
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October 11, 2018, 04:16:03 PM |
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Not only between bitfinex and coinbase, bitttex also has the same price as bitfinex. Btw on coindesk, price is nearly the same of what's on coinbase. Coinbase's rate is lower than preev's rate which isn't normal to my mind.
Personally I rarely see prices on exchanged, I use coindesk to know price.
Seetheummerallyeah
I didn't know that but why is coinbase's rate lower than preev's rate?
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Seetheummerallyeah
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October 11, 2018, 04:27:51 PM |
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Seetheummerallyeah
I didn't know that but why is coinbase's rate lower than preev's rate?
For preev all they do is take the average price of multiple exchanges. By default its Kraken and Bitstamp but if you also select Bitfinex the displayed price will be much higher. |
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alex0808 (OP)
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October 12, 2018, 10:08:58 AM |
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Typically yes, but in this case NO. The reason why there is a $100 difference between the BTC price on Bitfinex/Binance vs Coinbase is because Bitfinex trades BTC/USDT while Coinbase is directly BTC/USD. USDT, or tether, is currently a tiny bit below it's supposedly stable price, which is why you see the price difference. (USDT is currently $0.992881 compared to USD which is always $1)
Does Bitfinex trades BTC/USDT, not BTC/USD ? |
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Findingnemo
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October 12, 2018, 10:45:04 AM |
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Any possible reason for such a difference on bitcoin price between bitfinex and coinbase? Right now around $100 difference https://coinalyze.net/ ... It is just common that the price difference between the exchanges but it may change at any moment so if you want to try arbitrage trading then you need to know the risk involved there and also you need to exchange huge amount if Bitcoin to save profits from the transaction fee. |
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buwaytress
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October 12, 2018, 10:53:02 AM |
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Got to understand that some exchanges list a price they are offering to you, while others are listing offers from other traders. In the end, it generally works out to be the same price, although there are some ways some traders try and make profit from the differences across exchanges. Someone mentioned scalping, I believe arbitrage is more accurate to describe this action. Popular especially when price discrepancies happen, as has happened in past when demand spiked in S Korea, parts of Africa, Iran, and in India when it even dipped after a govt (temporary) ban. In reality, Bitcoin's volatility makes it difficult to do this, price can move very quickly so unless you're on high liquidity exchanges, you might just as easily get stuck with losses that quickly add up. Manually managing accounts across different exchanges also not Does Bitfinex trades BTC/USDT, not BTC/USD ?
That's exactly what he said. |
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otundebis
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October 12, 2018, 12:00:11 PM |
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Arbitrage opportunity presents itself every now and then between exchange and if you have fund present in both exchange, you can make a decent profit in a very short time.
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BitBay*
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October 12, 2018, 12:11:49 PM |
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Any possible reason for such a difference on bitcoin price between bitfinex and coinbase? Right now around $100 difference https://coinalyze.net/ ... The rates of individual cryptocurrencies on the exchanges result from transactions made by Users, so in other words - the rate is made by Users themselves as it's the Users who set up for what price they want to buy/sell  |
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alentmay
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October 13, 2018, 01:58:22 PM |
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Any possible reason for such a difference on bitcoin price between bitfinex and coinbase? Right now around $100 difference https://coinalyze.net/ ... Simple arbitrage question. I mean every newbie out there asked the same question one day or another. Unfortunately the difference caused by the fact that those exchanges have their own markets, their own people who sell and who buy which means these are different people reacting to market however the difference is there constantly because of the different volumes reacting different. It is never too much because arbitrage people make sure to take advantage of any big amount and close that gap eventually but for regular people it is just regular buy/sell amounts being different in there for a while and never above the % fee they take. |
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Thanasis
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October 13, 2018, 02:11:02 PM |
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Not only in those exchange you can find lot of difference in the prices between the exchanges Bitcoin Markets but there will be even so much difference between the different trading pairs so it is not new in the crypto so you can also make money by using that price difference between trading platforms which is called arbitrage trading. |
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cabron
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October 13, 2018, 02:16:29 PM |
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If its easy to do the arbitrage trading, everybody would have been doing it. Its easy to keep hopping from one exchange to another, its the transactions confirmation that is going to let you fail. A lot of us might also be doing it right now so its a battle of who get to dump the first as well so if you are seconds late, you get a price of $10 difference.
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cryptowolfsu
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October 13, 2018, 03:09:28 PM |
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Sure, it is possible. Already the price of each digital currency is different in each exchange. It isn't possible to have the same price in all of them, because the demand-supply determines the price and accordingly, the price is different in every exchange.
This is called ''scalping'' and is a way to make some profit. But, the prices are always variable, that's why earning is risky with scalping.
The price difference between exchanges is called arbitrage. That is a risk free profit but you have to be careful about liquidity on both exchanges, transaction time and fees, deposit and withdrawal fees. Scalping is a trading style in taking profits on small price changes. |
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The Sceptical Chymist
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October 13, 2018, 03:35:42 PM |
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Arbitrage opportunity presents itself every now and then between exchange and if you have fund present in both exchange, you can make a decent profit in a very short time.
Every now and then, yes, but a $100 difference between two exchanges seems kind of extreme to me. It's a well-known fact in the stock market that arbitrage opportunities are rare, because traders quickly take advantage of them and in doing so close the price gap and eliminate said opportunity. I recall very vividly back in 2014 that bitcoin was selling for a much higher price on Mt. Gox than it was on the other exchanges, but in that case the reason was that people weren't confident they'd be able to withdraw their fiat from Mt. Gox. I'm not sure why there's such a price discrepancy here with Coinbase and Bitfinex. It certainly does seem like it would be a great way to make some easy money. Too bad Coinbase canceled my account there a few years ago. Oh well. |
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dunfida
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October 13, 2018, 03:48:45 PM |
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Any possible reason for such a difference on bitcoin price between bitfinex and coinbase? Right now around $100 difference https://coinalyze.net/ ... Yes, its possible but those gaps wont really last long for sure yet these kind of opportunities when theres such price gaps between exchange would really be the best time to make some arbitrage but since you do talk about Coinbase i dont think it would really be that easy but as long you can able to benefit on those price gaps then it would be worth to try on. |
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o_e_l_e_o
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October 13, 2018, 03:51:09 PM |
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The price difference between exchanges is called arbitrage. That is a risk free profit but you have to be careful about
liquidity on both exchanges, transaction time and fees, deposit and withdrawal fees. You are both right and wrong in the same sentence. Arbitrage is absolutely not risk free for all the reasons you then point out. In the time it takes you to transfer your coins, the gap can close or the price fluctuate wildly. Exchange, deposit and withdrawal fees can easily eat all your potential profits and more leaving you at a net loss, even if the price gap remains stable. Low liquidity can stop you from selling altogether. Yes, there are profits to be made with arbitrage, but it's usually by bots with fiat and BTC already sitting on a couple of exchanges waiting for opportunities to arise. By the time the average trader gets involved, the gap is usually closed. |
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TopT3ns
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October 13, 2018, 11:03:04 PM |
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Any possible reason for such a difference on bitcoin price between bitfinex and coinbase? Right now around $100 difference https://coinalyze.net/ ... I think it is normally if between exchanger will have different price even it is really far. Because it is depends on trade activity on each market. If you can take benefit of that, you can do arbitrage but you must know if there is good condition to do it. |
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figmentofmyass
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October 13, 2018, 11:15:44 PM |
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Any possible reason for such a difference on bitcoin price between bitfinex and coinbase? Right now around $100 difference https://coinalyze.net/ ... i'm surprised no one pointed this out: Crypto Exchange Bitfinex Suspends Fiat Deposits, Expects to Resume 'Within a Week'if you look on reddit (and around this forum), there's plenty of complaints about bank wires not being paid to customers, going all the way back to august. this is obviously the source of the price premium--- in order to cash out, bitfinex users need to buy BTC and sell it on other exchanges. this happened throughout 2017 too. bitfinex and tether couldn't cash anyone out for several months. there were times when my bitfinex/USDT funds were devalued by 10% because of it! i expect the current 2% premium to rise..... |
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rangnatht
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October 14, 2018, 06:32:30 AM |
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Somtimes I also saw the price difference on different exchanges but almost every big exchanges have a same price. Also in the present time their are so many exchanges with no volume... Theses shit exchanges have no enough volume so sometimes price could be high 400% and somtimes 400% down... I prefer binance and coinbase for watching the price... Its legit and make you confirm that you get good deal...
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