Quote from: Shawns on May 28, 2017, 10:10:55 PM

I've noticed that I can buy bitcoins at market rate on coinbase.com and then resell them on localbitcoins.com for plus 12% of market value. Obviously, there is a little work involved. Dealing with numerous emails, small transactions, etc, and the potential for fraud.

However, it's not a lot of work, mainly just pushing the escrow release button 4-5 times a day after verifying deposits into my bank account.

Since I can sell around $1200 in coin per day, minus 1 percent for localbitcoins and 1 percent for coinbase, I can net about $120 per day, which is currently more than my day job.

Now, if something seems too good to be true, it generally is. In other words, the profits seem too easy for the work involved, that I worry that I'm missing something? I would think that the ease of profit would encourage more people do to it, thus making more competitive prices on localbitcoins and driving the price down.

What am I missing?

EDIT: I live in Europe, the laws are different here than in USA for banks.

Everything looks so smooth for you, how about (1) bitcoin transactions fees and (2) confirmation time? How long you have to wait until bitcoin received on localbitcoin? Have you tried it before? As bitcoin price could change in matter of minutes, what might seen high in the beginning may end loss if the price suddenly drop.
Please update in here after you have tried it, we would like to see how is it going. Good luck.