Hey there,
is it possible to buy BTC cheaply at one exchange and sell it more expensive at another one? It seems to me that it might be actually possible.
What are challenges? Are people doing this?
Thank you!
Check the charts before buying and selling bitcoins at exchanges. Here it is:
https://bitcoincharts.com/markets/BTC-e has the lowest price while GDAX/Bitbay offers a high price but you need to take into account the trading fee as well as the deposit/withdrawal fee which can exceed your profit margin. Also, some exchanges have a limit for withdrawals and also the profit margin will be less than $100 per BTC. Only if the bitcoin price rises, the profit margin would increase. Verification is a must on these exchanges.