19 votes

What would it take to create my own Bitcoin exchange?

Setting up and operating an exchange can be quite involved. A few tiers to start thinking about: legal, banking, tech+security, and volume. Legal The first question is whether you want to operate ...
17 votes
Accepted

Bitcoin market hours (open/close prices)

In 24 hour markets High and Low usually mean "highest/lowest price in last 24 hours". Open generally refers to the price at 12:01 AM UTC of any given day and close generally refers to the price at ...
  • 6,218
14 votes
Accepted

Why do bitcoin exchanges use "central" wallets?

Note: This answer applies to Bitcoin, not "crypto" generically. On terminology I think you may be conflating "wallets" and "addresses". Addresses are used to communicate ...
  • 65.3k
11 votes
Accepted

Is there any way to buy bitcoins online without a fee?

Of course you may trade bitcoins with just anyone without having to pay fees to a centralized exchange. I think Bisq (formerly BitSquare) may be the best answer to the question; decentralized, free ...
  • 821
10 votes

What is the strategy behind a sell wall?

I use this type of trading to accumulate buys at a cheaper price. Ex: if I spend 2 hours buying small amounts of coins so nobody notices the large buys, then I put up a large sell wall ($30k-$45k) to ...
  • 101
9 votes
Accepted

Why is the exchange rate of Bitcoins the same for everyone?

When exchange 'A' sells bitcoins for 200 dollars and exchange 'B' buys bitcoins for 300 dollars, there will be people who buy at 'A' and sell at 'B' as long as they can make money on it. This is ...
  • 538
8 votes

Is there any way to buy bitcoins online without a fee?

Some Chinese exchanges don't charge a fee. Any site that has possession of your bitcoins or dollars means there is at least some risk of getting ripped off. So unfortunately, what you ask for doesn'...
  • 7,639
8 votes
Accepted

Coin Exchange Profits

You are right that you will need significant volume to make substantial profits. Which country are you located in? Some countries will also have very high regulatory startup costs, which is why you ...
8 votes

How much does it effectively cost to purchase currency at an exchange?

Essentially, you have to factor in 3 fees in a purchase: 1. Deposit fee (if applicable) This is usually a fee for wire transfers, and from my experience is only relevant if you deposit cash across ...
  • 1,672
8 votes
Accepted

How do exchanges store and transfer bitcoin?

It is important to keep in mind that addresses are not the same as wallets. A wallet contains multiple addresses, not each address is a wallet. Exchanges maintain their own wallet with thousands of ...
  • 63.3k
7 votes

How can I convert my Bitcoin to Western Union urgently?

There are many Bitcoin buyers on LocalBitcoin who are willing to pay via Western Union. Look for someone with a very high feedback rating and do not release the Bitcoins from escrow until you are sure ...
  • 338
7 votes

How to tell if a cryptocurrency exchange or trading platform is trustworthy?

Here's a few checks I'd advise anyone to do. Does it promise to earn you more than 10% profit in less than a month? If so it is a fraud. Does it make implausibly impressive claims like "SEC ...
6 votes

Why don't people buy at one exchange and sell at another?

Something I am currently looking into, and a huge issue that nobody has really mentioned earlier is blockchain time. 1) Bitcoin is traded on a number of exchanges, however the entire process of ...
6 votes

Is there any way to buy bitcoins online without a fee?

There is no middle man for using Bitcoin. If all your income and expenses were in Bitcoin, the transfers would have negligible overhead. But what you are looking for is a service that will take your ...
6 votes

How are Fees Charged at Kraken?

How are fees charged? They are charged in the currency fee set during a trade. Due to a discreet nature of trade matching process, it's rather tricky to give a definite answer on how each individual ...
  • 1,672
6 votes

What is needed to get listed on a currency exchange website?

First, you're going to have to prove that your altcoin is useful and has value and liquidity. You can't just create a new coin and expect people to value it. The most successful altcoins have ...
  • 7,639
6 votes

Is it safe to store all my coins on Coinbase?

I would recommend diversifying your btc holdings as much as possible. What if something happens to your wallet? That wouldn't necessary be better than coinbase. You could keep some in a personal ...
6 votes
Accepted

what is the Volume and BaseVolume reported from bittrex API?

Volume is the amount traded in that altcoin over the past 24 hours. In the case of BTC-DGB, this is the amount of DGB that has been traded in 24 hours. BaseVolume is the total value traded in the ...
6 votes

How do I find the exchange an address belongs to

It is basically impossible to identify who (whether it is an exchange or someone else) owns an address unless they announce that they own the address. You will not be able to figure out what exchange ...
  • 63.3k
5 votes

Transferring Bitcoins from Wallet to Wallet

1) The exchange that has your bitcoin should have the option to withdraw bitcoins. It will then ask you to what bitcoin address you want to withdraw and how much. 2) The exchange you want to transfer ...
5 votes
Accepted

Library for trading on major exchanges

Check out xchange on github:: https://github.com/timmolter/XChange It works on multiple exchanges, and is written in Java.
  • 164
5 votes

Best way to mix bitcoins? mixer, coin join (shared send), dark wallet, stealth addresses?

I would say connect to tor, create a blockchain.info account, send you bitcoin there, then send the bitcoin to https://shapeshift.io to another currency which you have a wallet setup, then back to a ...
  • 51
5 votes

Bitcoin market hours (open/close prices)

For the Gemini exchange the closing price is at the time of their daily auction at 4pm ET. You can read more about the auction here: https://gemini.com/marketplace/ And why it is considered their "...
5 votes
Accepted

BTC Exchanges and Counterparty Risk

To engage in trading on an exchange, you have to make a deposit of either fiat or Bitcoin. As the balances are then managed by the exchange until paid out, there is no counterparty risk to your ...
  • 65.3k
5 votes

Algorithmic trading python library?

Check out my ccxt library on GitHub: https://github.com/kroitor/ccxt With it you can access market data and trade bitcoin, ether and altcoins with many crypto currency exchanges. It is used to ...
5 votes
Accepted

Which Bitcoin exchanges publish proof of reserves?

Several exchanges have published reports (OKCoim, Kraken) but Bitfinex is the only one I am aware of to offer real time proof of reserves with individual BitGo wallets. "The era of commingling ...
5 votes

How do exchanges keep relatively similar price on coins?

If I could buy a bitcoin on Exchange A for $2,000, turn around and immediately sell it on Exchange B for $2,500, and make an immediate profit of $500, I would do that all day long, and get rich! But ...
  • 1,334
5 votes

Why is the USD spread of the order book on GDAX kept very low most of the time?

GDAX offers 0% fee to maker (traders who's trades are being matched by a seller or buyer). That incentives traders to try to match bid and ask as close as possible thus reducing spreads.
  • 1,264
5 votes
Accepted

Is it possible to buy bitcoins via an exchange directly into cold storage?

You can generate a wallet for cold storage offline easily. You can then ask the exchange to use a public address of that cold storage as the recipient for a transaction. You'd still pay the fee the ...
5 votes
Accepted

High activity on exchanges vs. low transaction rate on blockchain

Given that every transaction on an exchange requires also a transaction on the blockchain, how does it work? They don't, movements on exchanges are internal, not Bitcoin transactions.
  • 15.2k

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