We’re rewarding the question askers & reputations are being recalculated! Read more.
70

Arbitrage - What it is and how it works Arbitrage refers to the process of instantly trading one or more pairs of currencies or odds for a nigh risk-free profit. Usually, this involves two exchanges (this is then called a two-legged arbitrage); although more are, of course, possible. There are several steps when executing an arbitrage: Find a suitable ...


25

Is there space for me on your team? I have spent most of this year trying to answer the same question, starting with the recognition that I could solve all the technical aspects (web programming, Bitcoin handling, trading engine, server security, etc.). Technically, you need a website and a trading engine that matches buyers and sellers. Whilst there are ...


22

A large investor might be trying to move the market. Sell walls create an impression of a strong supply. This makes some people, unwilling to wait for the wall to break down, pitch their sales offers below the wall. By moving the wall closer to the current bid again, a large investor might be able to move the market to a small extent and then buy at a lower ...


13

Although you can find a more comprehensive list here on the Bitcoin Wiki, some of the most popular exchanges in the community are: Coinbase - https://coinbase.com Bitstamp - https://www.bitstamp.net You can exchange your bitcoins for US dollars on these websites and have them funded to your bank account.


11

It seems that you have what many people would call physical bitcoins. There are several kinds, but I am not aware of any from before 2011 that actually take the shape of a coin. The probably best known type is made by Casascius. Is there any additional information you could provide? Maybe a photo? Anyways, if this is what you have, then be aware that none ...


10

That's quite a lot of money to try to load onto a prepaid card and likely not something you'll find easily done. Some options are: http://www.okpay.com/en/services/debit-card/index.html https://www.aurumxchange.com/cards Expect to get their cards program back soon. With OKPay, you can reload using bitcoins, which OKPay will exchange into USDs for you (the ...


10

Note: This is a US-centric answer. Other countries may differ. I'll add other countries as people leave comments. There is an arbitrary limit of $1,000 per person per day that triggers the necessity to register as a money service business. Stay under that FinCEN is unlikely to care about you, although you still may legally need to register for smaller ...


8

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 encourage sells. After that pushes down the market from panic sellers trying to under sell my wall, I instantly buy those sells up and remove my wall and then ...


8

Coming from a financial programming side (C++/Network/Trading experience), I would politely suggest that having a web team is not quite enough to make an exchange. Granted, your average Bitcoin exchange may not need the HFT credentials of your average dark pool or big name exchange. But you're still dealing with a system that needs high uptime, high ...


8

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 economic zones, albeit this is slowly reducing to 'anywhere to asia', or outside of the SEPA zone. Kraken charges 5€ per wire transfer, SEPA transfers are free ...


6

The factors that matter for any cash-out decision are: Where are you located (country)? How much are you looking to trade? What type of cash are you looking to receive? How soon do you need access to the proceeds? Is privacy important? Specifically for cash-out to PayPal, options include: http://snapswap.us/#/paypal (You'ld need to do BTC -> XRP first ...


6

It's a short list. Cash Liberty Reserve (though they did freeze some customer funds recently until they became verified) Bank Wire (though see comment below) Webmoney (supposedly) Here's the payment methods hardness list: http://en.bitcoin.it/wiki/Payment_methods


6

Trade them for USD, GBP or EUR on a trading site such as https://mtgox.com and transfer it to your bank account. Or you can spend them directly at any other business that accepts bitcoins as payment.


5

The factors that matter for any cash-out decision are: Where are you located (country)? How much are you looking to trade? What type of cash are you looking to receive? How soon do you need access to the proceeds? Is privacy important? In the U.S., Coinbase might be the simplest -- you can sell up to 100 BTC per day, with a fee of 1% and then from there ...


5

If you use a payment processor such as BitPay or WalletBit, they will take care of the conversion to fiat for you (for a fee, of course). You could also use e-commerce software and manage the exchange to fiat yourself. That's what CoinDL, for instance, does using a Bitcoin module for OpenCart e-commerce software. There might also be a number of goods and ...


5

I would recommend http://www.xmlgold.net. They offer a pretty good system which allows you to buy a prepaid mastercard with bitcoins and load the card with bitcoins. They have low fees.


5

I recommend using the services of a user on LocalBitcoins with a high rating and high number of transactions completed.


5

The usual procedure would be to deposit the bitcoins into a bitcoin exchange, sell them there, and withdraw the cash to your bank account. You will have to identify yourself to the exchange, and the exchange must be able to send money to your bank.


5

A fee is charged over the filled portion. Either the whole order or partial. If an order was cancelled before a trade took place (0% filled), no fee is charged. If an order was cancelled after a portion was already filled, the remaining part is cancelled and no fee is charged over the remaining.


5

LTC/BTC and BTC/LTC are both ratios of purchasing one currency with another. For example, with LTC/BTC, the price quoted is for 1 LTC (overlying) in BTC (underlying). If the price is 0.025, that is how many bitcoins are needed to purchase 1 LTC. At this price, 2 LTC would cost 0.05 BTC. The opposite would be equivielnt to 1/x, using the example above the ...


5

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 trading partner: You can only submit buy and sell orders that are funded. Once your order is matched, the exchange can atomically update the balances of the two users ...


5

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 fee is applied. However, a good rule of thumb is to choose a fee currency when placing an order, as this is the one in which fee will be subtracted. Are the ...


4

Indonesia is one of the countries where no Bitcoin exchanges have much reach to just quite yet. Are international wire transfers a possibility? If so, most exchanges offer international wire transfers. About the only payment network that any bitcoin exchanges use that have the ability to interact with Indonesian banks domestically is Payza, but theirs is ...


4

http://bitcashretail.com/ (service is now dead) Quote from site: We will provovide you a digital Visa card for the spot price of Mtgox for a Bitcoin equivalent of a $7usd service charge. Available to registed users only!


4

To my knowledge, Steam does not support BTC (at least yet). Moreover, Steam does not allow one to send another user money transfers, so you can't really exchange your funds with other people. You could, however, purchase a game gift for another person and sell that gift for Bitcoins, but that would probably be against Steam's policy. If you generally want ...


4

Visit en.bitcointalk.org - Their you will find awesome services!


4

Liberty Reserve (which was closed in May 2013) doesn't allow charge backs.


4

http://www.dancingbots.com [1] is visualizing the chronological sequence of limit orders on popular exchanges. You can see how those walls are repositioned if the price moves. Those big positions are an exception. More often those walls consists out of multiple positions spread over a price range. They show up as parallel horizontal lines. If you look at a ...


4

From the top of my head: Website User account management Fulfillment of legalities (all depending on local law): Know-Your-Customer, Anti-Money-Laundering, license to exchange currencies, banking licenses, money transmission license Banking partnership/account in order to process Deposits and Withdrawals in at least one currency other than Bitcoin Deposits ...


4

If there are Bitcoin ATMs in your country it should be as simple as goint to the ATM ask for a refound and transfer the Bitcoins to where the ATM asks for. After that it should give you the money (whitout the processing charges).


Only top voted, non community-wiki answers of a minimum length are eligible