blingow (OP)
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February 11, 2015, 04:55:24 AM |
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Sometimes the BTC/USD rate differ a lot from an exchange to another, can be several USD. If I have an account in bitfinex, can I transfer the coins to kraken and sell them there ? For example if the rate is 220 $ in bitfinex and 225 $ in kraken.
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sgk
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!! HODL !!
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February 11, 2015, 05:24:29 AM |
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Sometimes the BTC/USD rate differ a lot from an exchange to another, can be several USD. If I have an account in bitfinex, can I transfer the coins to kraken and sell them there ? For example if the rate is 220 $ in bitfinex and 225 $ in kraken.
That would make sense if the price difference is significantly large. For smaller price differences, you would actually lose trying to arbitrage. The reason being the trading fees on exchanges, withdrawal/deposit fees etc. And there is no guarantee the price will stick to it by the time you transfer your coins from one exchange to another. |
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caga
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February 11, 2015, 07:29:21 AM |
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Sometimes the BTC/USD rate differ a lot from an exchange to another, can be several USD. If I have an account in bitfinex, can I transfer the coins to kraken and sell them there ? For example if the rate is 220 $ in bitfinex and 225 $ in kraken.
That would make sense if the price difference is significantly large. For smaller price differences, you would actually lose trying to arbitrage. The reason being the trading fees on exchanges, withdrawal/deposit fees etc. And there is no guarantee the price will stick to it by the time you transfer your coins from one exchange to another. Along with this at times you will also have the price fluctuating. |
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najzenmajsen
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February 11, 2015, 12:13:57 PM |
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Like people have mentioned , if the price difference is larger than it will work , but otherwise the trade fee's , deposit fee , withdrawal fee will take your money. And dont forget that it takes 10 minutes or so to send the money , while that's going on prices could change.
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cazkooo
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February 12, 2015, 02:28:07 PM |
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Like people have mentioned , if the price difference is larger than it will work , but otherwise the trade fee's , deposit fee , withdrawal fee will take your money. And dont forget that it takes 10 minutes or so to send the money , while that's going on prices could change.
10 minutes? more likely like almost 15 min/ 1 confirmation nowadays block is hardly minted now |
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zezt
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February 12, 2015, 06:29:19 PM |
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Why don't you just cash-out at 225 and buy back in at 220 on the other platform?
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thompete
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February 12, 2015, 09:26:20 PM |
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I have actually tried this in the past. It certainly is not profitable after all the fees cut off and being able to profit from the small differences in the price.
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KizerWilhelm
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February 12, 2015, 09:38:29 PM |
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Yes, that is a problem. $5.00 on every bitcoin is substantial. There must be a way to work this out.
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Nrcewker
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February 13, 2015, 07:15:59 AM |
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don't sure bitfinex and kraken.
but you can do it on bitstamp and lakebtc, since both two exchanges are the ripple gateway, you can transfer usd from one to the other fastly, via ripple network. of course, you should calculate the fee carefully.
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CryptoRev
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February 13, 2015, 03:44:30 PM |
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Keeping in mind the (recent) price volatility and the fees you'd be paying, it'll probably not turn out to be a profitable deal. Do your calculations carefully before going ahead.
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Patmilland
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February 13, 2015, 10:12:35 PM |
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Buy at bid and sell at ask. That helps too  |
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ajareselde
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Satoshi is rolling in his grave. #bitcoin
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February 15, 2015, 12:29:18 AM |
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Sometimes the BTC/USD rate differ a lot from an exchange to another, can be several USD. If I have an account in bitfinex, can I transfer the coins to kraken and sell them there ? For example if the rate is 220 $ in bitfinex and 225 $ in kraken.
Its doable, and i did this alot in the past, the reason why people are not doing it as much today is relatively small increase/decrease of the price. I wait for large market moves and then arb between large exchanges and my local one, early in the morning, before other people get a chance to react. |
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velhoti
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February 15, 2015, 04:06:16 PM |
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I tried to buy in the cheap and sell in the expensive when the difference is big and buy in the expensive and sell in the cheap when the difference is small so no need to transfer money, only the commission is cut off. But too much time to increase/decrease the difference and there is no warranty it will happen, so it give too few money and do not worth.
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rikfredsy
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February 15, 2015, 11:38:21 PM |
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Sometimes the BTC/USD rate differ a lot from an exchange to another, can be several USD. If I have an account in bitfinex, can I transfer the coins to kraken and sell them there ? For example if the rate is 220 $ in bitfinex and 225 $ in kraken.
Don't even try that fee for each transaction will kill the profit and made some loose the best way to do arbitrage is to wait a huge coming then buy at the moment and if the price dropped then sell |
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Amph
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February 16, 2015, 01:39:27 PM |
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Like people have mentioned , if the price difference is larger than it will work , but otherwise the trade fee's , deposit fee , withdrawal fee will take your money. And dont forget that it takes 10 minutes or so to send the money , while that's going on prices could change.
10 minutes? more likely like almost 15 min/ 1 confirmation nowadays block is hardly minted now it could be possible with faster coins confirmations, to play with the arbitrage thing, not certainly with bitcoin |
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koelen3
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February 17, 2015, 08:12:39 AM |
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The easy way to do it is , get coins to one exchange where you think is high and get cash deposit to another and when you are ready wait for a good arbitrage opportunity and just sell at high and withdraw and by at cheap and withdraw But to make good profit , you will have to go with little good amount and look out for pretty nice difference , somtime it is even 8$ |
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velhoti
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February 17, 2015, 03:43:16 PM |
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The easy way to do it is , get coins to one exchange where you think is high and get cash deposit to another and when you are ready wait for a good arbitrage opportunity and just sell at high and withdraw and by at cheap and withdraw But to make good profit , you will have to go with little good amount and look out for pretty nice difference , somtime it is even 8$ Right now is possible to buy at www.btc-e.com at price $237.3 per bitcoin and sell in www.vircurex.com at price $261 per bitcoin. it is a big diference but I still think it is not profitable long term. |
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koelen3
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February 18, 2015, 06:52:11 AM |
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The easy way to do it is , get coins to one exchange where you think is high and get cash deposit to another and when you are ready wait for a good arbitrage opportunity and just sell at high and withdraw and by at cheap and withdraw But to make good profit , you will have to go with little good amount and look out for pretty nice difference , somtime it is even 8$ Right now is possible to buy at www.btc-e.com at price $237.3 per bitcoin and sell in www.vircurex.com at price $261 per bitcoin. it is a big diference but I still think it is not profitable long term. That is not possible , vircurex is a small exchange as you can see there volume is 0.02 btc How do you plan to sell it ? You won't make profit but loss on such small trade |
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velhoti
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February 18, 2015, 04:16:34 PM |
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The easy way to do it is , get coins to one exchange where you think is high and get cash deposit to another and when you are ready wait for a good arbitrage opportunity and just sell at high and withdraw and by at cheap and withdraw But to make good profit , you will have to go with little good amount and look out for pretty nice difference , somtime it is even 8$ Right now is possible to buy at www.btc-e.com at price $237.3 per bitcoin and sell in www.vircurex.com at price $261 per bitcoin. it is a big diference but I still think it is not profitable long term. That is not possible , vircurex is a small exchange as you can see there volume is 0.02 btc How do you plan to sell it ? You won't make profit but loss on such small trade One could sell more than 0.2 btc bellow $261 and still is a good difference, but not too much to sell. You are right, this is one reason why I think it is not profitable. |
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koelen3
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February 18, 2015, 05:54:18 PM |
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The easy way to do it is , get coins to one exchange where you think is high and get cash deposit to another and when you are ready wait for a good arbitrage opportunity and just sell at high and withdraw and by at cheap and withdraw But to make good profit , you will have to go with little good amount and look out for pretty nice difference , somtime it is even 8$ Right now is possible to buy at www.btc-e.com at price $237.3 per bitcoin and sell in www.vircurex.com at price $261 per bitcoin. it is a big diference but I still think it is not profitable long term. That is not possible , vircurex is a small exchange as you can see there volume is 0.02 btc How do you plan to sell it ? You won't make profit but loss on such small trade One could sell more than 0.2 btc bellow $261 and still is a good difference, but not too much to sell. You are right, this is one reason why I think it is not profitable. If we look at it! suppose we buy btc at 240$ on btc-e.com and then get that 1 btc to vircurex.com as per now Buy orders you can sell 0.818 btc for 204$ so you are left with 0.18 btc which you can withdraw and sell for 43$ at rate of 240$ so now you have total of 247$ (204 + 43) when you withdraw a little fees is charged i.e. 0.002 btc which is 20x the normal transaction fee so about 6$ profit for so much work with no gaurantee Good luck if you want to do it  Though i like their interest policy , 15% interest(out of the trade fees) to everyone with atleast 1 btc every 6 hours |
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