Buy bitcoin on one exchange sell on another

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John Martin John Martin 2 2 gold badges 2 2 silver badges 3 3 bronze badges. See also this question and its answers: bitcoin.

Add a comment. Sorted by: Reset to default. Highest score default Date modified newest first Date created oldest first. Improve this answer.

John T John T 2, 14 14 silver badges 27 27 bronze badges. Could you explain more as to how exactly you would do that? You go to the deposit page on the exchange you want to transfer the Bitcoins to and get a deposit address. Then you go to the withdrawal page of the exchange you want to transfer the Bitcoins from and withdraw them to the deposit address.

I don't really see how you can make profit transferring bitcoins from one exchange to another, since all exchanges I know of request at least 6 confirmations for the bitcoins to be available 1 hour aprox , in that period of time value could have changed a lot.

In case you are planning long term trades, why would I need to transfer them since in the long term the price can be higher in the original exchange. YoMismo I think there can be several reasons for why one would want to change exchanges. So should we use this exchange for selling BTC to get more value? Not the answer you're looking for? Browse other questions tagged wallet exchanges btce or ask your own question.

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Hot Network Questions. Question feed. Accept all cookies Necessary cookies only. Gox is still paying out Bitcoins on demand, most of the time. So people with US dollars in a Mt. Gox account are paying a premium to convert them to Bitcoins, get them off Mt. Gox, and sell them on another Bitcoin exchange.

This reflects the market's collective opinion of whether funds deposited on Mt. Gox will be lost. One of the major reasons standing in the way of profiting from arbitrage opportunities has to do with "volume". The volume for either exchanges is not high enough yet to support big trades.

Large profits require large trades in arbitrage. Moving trades upwards of k would be just plain stupid if even possible in such a low volume market. Chances are if your arbitrage trade is big enough to profit from, it will move the market against you. Arbitrage in the finance world is done with millions and millions of dollars and for fractions of a second. That just isn't possible with Bitcoin. Something I am currently looking into, and a huge issue that nobody has really mentioned earlier is blockchain time.

With the volatility of the market, I would definitely not want to hinge a bet that the arbitrage window would still be open that long after it becomes present.

Litecoin is one of the few coins that does trade quite widely, be it still has a verification time of two and a half minutes. I have been wondering about it myself for a long time now. I even thought of developing trading software bot that would automatically buy on one exchange and sell on MtGox. Last time I tried, I waited - in vain - for almost 5 weeks and finally created a support ticket to cancel the wire transfer, bought BTCs at the inflated price and transferred them to CoinBase to cash out.

The only way I see to make some profit is this: BTC price fluctuates wildly every second of every hour of every day. But you see where the problem is. What if it doesn't? But then again, it's a risk inherit in any speculative trade. And Bitcoin trading is all speculation. I'll try to resume what I understood until today on this topic I'm quite interested into it, mee too. There is room to play some arbitrage buying and selling in different exchanges market, but the real problem is the speed of the transactions and keeping your dollars into all you accounts.

The problem is when you want to trasfer some bitcoin froma a market to another it takes time! You should check the transfert fees when you move your dollars and count if it is still valuable You can simply reconstruct the events when bitinstant was closed or under maintenence by the graphic.

Its not possible due to various settlement mechanisms. Each exchange have their own settlement period and their transaction and transfer fees. Sign up to join this community. The best answers are voted up and rise to the top. Stack Overflow for Teams пїЅ Start collaborating and sharing organizational knowledge. Create a free Team Why Teams? Learn more about Teams. Why don't people buy at one exchange and sell at another? Ask Question.

Asked 9 years, 6 months ago. Modified 5 years, 2 months ago. Viewed k times. What's stopping people from doing so? What's the catch? It can't be that people aren't aware that they could do it right? Improve this question. Icode4food 3 3 bronze badges. Pacerier Pacerier 2, 2 2 gold badges 21 21 silver badges 33 33 bronze badges.

Because of Mt Gox's current withdrawal problems, a dollar at Mt Gox is worth less than a dollar at Bitstamp. DavidSchwartz, what problems do you mean? Add a comment. Sorted by: Reset to default. Highest score default Date modified newest first Date created oldest first. Improve this answer. Daniel S. It's not about the spread alone. As explained, a lot of your profits from the spread get taken away from the fees of transfers and trading. This seems high, but remember that you have to transfer the amount multiple times between exchanges to make a complete roundtrip.

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Airdrops are distributions of free coins or tokens to current cryptocurrency holders and are usually promotional. Cryptocurrency mining and staking income is ordinary income for tax purposes. Cryptocurrency mining, and its staking counterpart, is a service that computers provide to a cryptocurrency blockchain network. The owners of these computers typically receive cryptocurrency from the network in exchange for their services.

So, for example, if I owned computers that provided cryptocurrency mining or staking, then I would typically receive crypto in exchange for these services and would pay tax on that crypto to the IRS. The payment in crypto is taxable income just the same as if I were paid in dollars to perform these same services to the network. The value of the crypto when it is received is the value to be used for tax-reporting purposes. If the value of the crypto increases after it's received, then you will pay capital-gains tax on the increase of value when the crypto is later sold or exchanged.

The taxation of cryptocurrency is complicated and requires diligent recordkeeping when buying, selling or exchanging. The responsibility to properly report this is on the crypto owner. There are numerous cryptocurrency-tracking applications that have been created to help cryptocurrency investors, users and traders properly track and report their taxes. There are around 10 companies that have an application to assist in tracking your crypto for tax purposes.

The IRS requires the reporting of cryptocurrency gains and losses on form Form is filed with your personal tax return. The major providers of crypto in the U. Whether the exchange you used reports to the IRS or not, you still have a reporting obligation. But do not think that you can avoid taxation by using a company outside the U. You need to be wary, as this can result in additional foreign asset reporting requirements to the IRS. For example, the foreign bank account rules known as FBAR have a pending rule change that would include crypto holdings to fall under the definition of a bank account and would thus result in foreign bank account reporting of crypto assets.

Additionally, crypto held with a provider outside the U. In sum, do not assume that trading and holding crypto abroad will exempt you from tax-reporting obligations. In fact, it makes it more complicated, and it does not reduce your tax obligations. A Roth IRA can be used to invest in crypto and can grow and come out tax-free at retirement. When trading crypto with a Roth IRA or other retirement account, you can bypass the tracking and annual tax-reporting, as crypto profits in a Roth IRA or other retirement account are not subject to tax and do not show up on your personal tax return.

Many early adopters of cryptocurrency who my company worked with found the tax rules and reporting of cryptocurrency gains to be onerous and expensive. These early adopters enjoyed dramatic value increases, and in turn saw significant tax bills when selling or exchanging that cryptocurrency.

A self-directed Roth IRA is a more tax-efficient option to invest or trade cryptocurrency for the long haul. For those unfamiliar, the income and gains made by a Roth IRA are not taxable and they grow and come out tax-free at retirement. When using a retirement account, you can also skip over the annual tax reporting on your , given that the income in a retirement account is exempt from capital-gains taxes. Keep in mind that traditional IRAs and k accounts are subject to tax on the distributions from those accounts at retirement, but are not subject to tax year-to-year and grow tax-deferred until you take distributions from the account.

The usual broker dealers who provide retirement accounts do not allow you to invest and trade cryptocurrency in their IRAs and Roth IRAs. Instead, you will need to use a retirement account custodian who provides self-directed accounts. This is what my company and about 20 other companies in the so called self-directed IRA industry provide. These companies allow you to invest in real estate, private companies, and some allow for cryptocurrency. When choosing a provider for a crypto IRA or crypto Roth IRA, watch out for significant trading fees, make sure they are licensed and ensure that you are comfortable with the management team and services selected.

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For Subscribers. It only takes a minute to sign up. Connect and share knowledge within a single location that is structured and easy to search. On contrast, mtgox's price for the past 30 days is high at In other words, someone or anyone can just buy from bitstamp and sell to mtgox to make profit. Many people already do this with bitcoin. In finance, this is called arbitrage trading, or simply arbitrage, sometimes even abbreviated arb.

The reason for the price differences are fees for transferring between the bitcoin exchanges you have to transfer both, bitcoins and fiat currency for a complete cycle and fees for trading bitcoins against fiat currencies. Because of the arbitrage traders, who make profits as long as the price difference is big enough, the prices on different exchanges quickly adjust to be right at the border between where the fees eat up the earning and where you make profits.

Simply go to the website and click on "Arbitrage". I am interested in non-US exchanges since the spreads are bigger but I expect it will increase some of the issues above, especially fiat cycle time since my base is USD. The catch is that few people have been able to get US dollars out of Mt. Gox since June 20, , when Mt. Gox imposed a "hiatus" on US dollar withdrawals. Gox has a long list of excuses for not paying their debts, which you can find on their site.

Some of their excuses strain credulity. This has stopped arbitrage, which normally uses the same money going round and round from exchange to exchange. Gox is still paying out Bitcoins on demand, most of the time. So people with US dollars in a Mt. Gox account are paying a premium to convert them to Bitcoins, get them off Mt. Gox, and sell them on another Bitcoin exchange. This reflects the market's collective opinion of whether funds deposited on Mt. Gox will be lost. One of the major reasons standing in the way of profiting from arbitrage opportunities has to do with "volume".

The volume for either exchanges is not high enough yet to support big trades. Large profits require large trades in arbitrage. Moving trades upwards of k would be just plain stupid if even possible in such a low volume market.

Chances are if your arbitrage trade is big enough to profit from, it will move the market against you. Arbitrage in the finance world is done with millions and millions of dollars and for fractions of a second.

That just isn't possible with Bitcoin. Something I am currently looking into, and a huge issue that nobody has really mentioned earlier is blockchain time. With the volatility of the market, I would definitely not want to hinge a bet that the arbitrage window would still be open that long after it becomes present.

Litecoin is one of the few coins that does trade quite widely, be it still has a verification time of two and a half minutes. I have been wondering about it myself for a long time now. I even thought of developing trading software bot that would automatically buy on one exchange and sell on MtGox. Last time I tried, I waited - in vain - for almost 5 weeks and finally created a support ticket to cancel the wire transfer, bought BTCs at the inflated price and transferred them to CoinBase to cash out.

The only way I see to make some profit is this: BTC price fluctuates wildly every second of every hour of every day. But you see where the problem is. What if it doesn't? But then again, it's a risk inherit in any speculative trade.

And Bitcoin trading is all speculation. I'll try to resume what I understood until today on this topic I'm quite interested into it, mee too. There is room to play some arbitrage buying and selling in different exchanges market, but the real problem is the speed of the transactions and keeping your dollars into all you accounts.

The problem is when you want to trasfer some bitcoin froma a market to another it takes time! You should check the transfert fees when you move your dollars and count if it is still valuable You can simply reconstruct the events when bitinstant was closed or under maintenence by the graphic. Its not possible due to various settlement mechanisms. Each exchange have their own settlement period and their transaction and transfer fees.

Sign up to join this community. The best answers are voted up and rise to the top. Stack Overflow for Teams пїЅ Start collaborating and sharing organizational knowledge. Create a free Team Why Teams? Learn more about Teams. Why don't people buy at one exchange and sell at another? Ask Question. Asked 9 years, 6 months ago. Modified 5 years, 2 months ago.

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