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!
This is very much possible to be done but for me I no longer thinks it worth the stress because at the end of the day one might end up making a loss considering the margin of the reputable exchange sites is not always much and it changes rapidly without any form of notification. Aside that the fees of transferring this coin from one exchange to the other might even erode the little profit and finally the wait period for it to confirm which might even render everything useless by the time it finally drops in the destination wallet, the price has dropped generally across board.
My brother was on the edge of losing all his money for making a trade of this kind. He put almost all his money in an exchange that he did not know only because he found that here coin that he is looking to invest was cheaper but when he tried to withdraw his money they did not allow it. In the end, he if succeeded but he was scared