Post
Topic
Board Trading Discussion
Re: Need a piece of advice form experienced traders
by
davinchi
on 11/12/2019, 19:11:27 UTC
Are you guys looking for the best rates in the market when deciding to buy/sell Bitcoin or you're bond with the certain exchanges where you have an account?
I usually stick with one exchange and do my trades there and don't look at other places for the differences.

However, my reasoning for that is the fact that withdrawals take too much time and require a lot of money, so even if there is a better offer somewhere else I usually end up with enough loss during the transactions that I don't make any profits at all.

So, I would love to do arbitrage but I can't because I don't make profit while sending money from one place to another, its not like you can send it directly as it is and the difference thanks to withdrawal fee is usually bigger than the difference in the price so its not profitable to do so. I tried it couple times with local exchanges because difference there is higher but even with that it wasn't too much profitable.