How to transfer bitcoins from one exchange to another. Depositing and withdrawing money on cryptocurrency exchanges. What is the most profitable way to withdraw money from WebMoney if bank transfer is not available?

Bitcoins and other cryptocurrencies are becoming more popular every day, and the number of people wishing to purchase them is growing. The market capitalization of all coins (and there were 1145 of them as of October 2017, according to the coinmarketcap website) reached 146 billion US dollars. The first place in capitalization ($71 billion) and market volume belongs to Bitcoin (Bitcoin, BTC). Its value reached its maximum value in 2017 for its entire existence (today 1 BTC can be bought for $4,300) and therefore there is a natural interest in Bitcoins on the part of investors.

In this article we will review how to transfer Bitcoins in rubles; from one wallet to another wallet; how to transfer BTC from; how to send Bitcoins to the Advcash payment system, using which you can subsequently transfer Bitcoin to a Mastercard/Visa card and withdraw money from ATMs.

If you use other wallets to store Bitcoins, the principle of operation is similar. For example, transferring the Bitcoin cryptocurrency from the JAXX program, which is a multi-currency wallet for storing many popular coins. Click "Send", enter the recipient's address, the BTC amount and transfer.

How to transfer Bitcoin from an exchange

If needed transfer Bitcoins from the exchange, then the algorithm of actions is as follows. I will show you using the EXMO exchange as an example:

Go to the “Wallet” section; on other exchanges it may be called differently, for example, “Balance”.

And opposite the BTC (Bitcoin) account, click withdraw.

Fill out the form: indicate the address of the Bitcoin wallet for transfer, the amount. Cryptocurrency exchanges set a limit on the minimum or maximum transaction amount and commission. The commission is 0.001 BTC or $4.35 at the exchange rate, as we see its size is larger than the transfer from a wallet on the Blockchain service.

Please read the instructions carefully: you only need to transfer the exact amount in BTC.

Once the money has been deposited into your account, you can withdraw it:

• To any bank card in Russia, Kazakhstan or transfer to any other country
• To a card from Advcash Mastercard
• Withdraw through exchangers or transfer directly to electronic payment systems (, Perfect Money, Qiwi, Yandex Money and others)
• Receive in cash through partners in Russia, Ukraine, Kazakhstan

The Advcash Mastercard costs $4.99 when ordered within a week after registration (no verification required), free delivery time to any country is about a month. Card currency: US dollar or euro EUR, choose which is more convenient, you can order both.

You can cash out at any ATM. If there are currency exchanges (Belarus, Russia, Kazakhstan), then you can withdraw dollars or euros. If not, then in any other currency or pay for purchases in the store through POS terminals. Detailed information, commissions on the website advcash.com.

Convert Bitcoins to rubles in an exchanger

In order to convert Bitcoins to rubles you can use the services provided by . Choose only reliable and verified ones, as cases of fraud have become more frequent.

We recommend the Prostocash service, where you can transfer Bitcoin to rubles and other payment systems. This exchanger is included in the monitoring list and no complaints have been received against it yet. It works seven days a week, around the clock.

All those who use cryptocurrency exchanges in their activities are wondering: how to transfer currency from one representative to another. Everything is simple in words, but in practice you may encounter difficulties. The operation is performed for the following reasons:

• Earning option. Cryptocurrency exchanges offer different rates, so traders make money on the differences. Be sure to take into account the commission that is charged upon transition. To avoid such difficulties, it is necessary to check the trading volume. The final amount of money you will receive depends on this.
• Mistrust. The site may arouse suspicion among users. This is often confirmed by system failures and a complicated withdrawal process.

Exchange rating

The main problem you will encounter is selecting another trading platform. A good representative has a large trading volume. Transactions occur where there is increased supply and demand. Also pay attention to the platform interface. It must present genuine digital and graphical information. At the same time, data is updated in real time.

List of platforms

• Exmo. Easy to use, supporting the Russian version. Works with 6 currencies, all financial transactions are carried out. The system for withdrawing to a bank card is connected and configured. Features long-term verification
• Livecoin. The main advantage is low commission. There is an opportunity to earn money from referrals.
• CEX. It has an intuitive interface and provides users with protection from negative consequences. Fully supports the Russian language, there are no problems with output and translation.
• Localbitcoins. A multifunctional resource that conducts all transactions without intermediaries. Characterized by ease of use and operation.

Performing the transfer procedure

To transfer cryptocurrency:

• Create a wallet and add currency. Copy the finished created address.
• Go to another platform and look for cryptocurrency to transfer, mark the “withdraw” action.
• The converted amount will open in the window, and in the address column, paste what was copied. Then confirm the procedure and wait for an email notification. Standard execution time is from 2 to 15 minutes.

It has occupied a serious niche in the global economy. The daily turnover of trading platforms exceeded $4 billion.

And, if for key instruments the volatility on popular exchanges is always high, then for new assets it sometimes takes time to complete a transaction.

Many traders have accounts on multiple cryptocurrency exchanges and There are several reasons for this:

• Distribution of assets across several platforms, including completely anonymous cryptocurrency exchanges, makes investing safer and protects most of the trader’s capital from force majeure on one of the exchanges;
• The ability to purchase an asset at a good price if it is in short supply on another platform or is required not for speculative transactions, for example, to pay for services on the network (cryptocurrency) or investment accumulation;
• Earning money from arbitrage of assets between crypto exchanges. The rate on different sites can differ significantly, which means that if you quickly buy an asset on a site with a low rate, transfer the cryptocurrency from exchange to exchange and sell it there at a higher price, profit is guaranteed regardless of the current trend.

In this material, we will analyze the procedure for transferring cryptocurrencies between exchanges, and also consider possible restrictions and pitfalls that accompany the process.

Key points for transferring cryptocurrencies between exchanges

First of all, it is necessary to create wallets in advance for those assets whose transfer is planned in the future.

The process is not at all complicated, but in a situation where you need to act quickly, this delay can deprive you of part of your profit.

For convenient work with frequent transfers, traders create a separate document in which they enter the name of exchanges, names of coins and wallets for each of them.

Thus, searching and entering the desired address takes only a few seconds.

Studying commission rates

It is not common for most crypto exchanges to charge fees other than the network itself for conducting transactions.

Some sites still have a fee, for example, being included in the amount of the minimum automatically set upon withdrawal.

Other sites hide information about transfer fees or include them in the trading commission.

It is imperative to establish the exact amount of all fees before transferring cryptocurrency from exchange to exchange.

Enter all dimensions in the table described above to have all the data before your eyes and avoid mistakes during urgent translation.

It is better to exclude sites with hidden information or dramatically changing situations from the exchange list.

We study the demand for the selected asset

When a trader notices an interesting difference in trading rates on , it is important to know the state of supply and demand for each of them.

Very often there are situations when the price of an asset is high, but there is no demand for it, and information about its price is taken only from a sell order.

In this case, purchasing a less popular asset and transferring it, for example, to an Indian exchange where it is not bought at all, will turn out to be a loss-making decision, since you will have to again pay commissions for the transfer in another direction and, possibly, sell for less than the purchase price.

In the created table, you can mark the level of demand for those cryptocurrencies with which you work on a 10-point scale in order to see the situation in a global format.

Transaction deadlines

Since a transfer from exchange to cryptocurrency exchange means that the outgoing platform will make a transaction to an address supported by the receiving platform, that is, assets will be withdrawn from the exchange account, execution times can be impressive.

An increasing number of platforms are beginning to operate within the framework of the legislation of a particular country and implement a KYC (know your customer) policy. They require full verification even to work exclusively with, and also check all outgoing transactions for fraud or hacking, which increases the execution time for outgoing orders. Anonymous cryptocurrency exchanges also verify outgoing transactions, but they process them faster.

Information on how withdrawals occur is in the documents of each crypto exchange. You can also contact support for clarification.

We should not forget that during periods of strong price unrest, trading becomes very active and networks are overloaded with queues for transactions.

You can overcome the queue by setting a high network commission, but this approach can offset profits.

Algorithm for transferring cryptocurrency from exchange to exchange

Technically, the procedure is the same even if the sender is a Singapore cryptocurrency exchange and the recipient is .

There are also no differences for cryptocurrencies, except for the level of commission and the network congestion with pending transactions.

Let's look at the process step by step:

• Copy the received wallet address to the clipboard;

destination wallet, especially if you copied/pasted it via the PC clipboard. There are many viruses in use that replace the wallet address with a fraudulent one, as a result of which money is sent to attackers and it will be impossible to cancel the transaction.

Finally

There are more and more methods of making money on cryptocurrencies. The number of platforms servicing clients’ trading and exchange operations is also growing.

In pursuit of profit, such services are acquiring an increasing number of options that allow you to earn more.

Carefully select the exchanges between which you plan to transfer cryptocurrencies in order to reduce the risk of incurring a loss from the lack of demand for an asset in one of the markets or loss of profit due to complex withdrawal procedures.

Using exchangers is far from the only way to buy and sell cryptocurrency. Many crypto exchanges support the deposit and withdrawal of fiat money using various payment systems, allowing you to buy Bitcoin for rubles or dollars without the participation of unnecessary intermediaries. Let's figure out how to enter fiat money into the exchange and withdraw earned funds from the trading platform.

Main methods of depositing funds on exchanges

Fiat money is too general a concept that should be broken down into several categories. Any national currencies, be it rubles or dollars, can be transferred using various means of payment.

The following methods are most often used to work with US dollars and Russian rubles:

• Visa and MasterCard bank cards;
• bank transfers;
• WebMoney;
• offshore payment systems such as advcash.

In the case of transferring or receiving funds in rubles, you can add QIWI and WebMoney to these options. When working with cryptocurrency exchanges, the user will have to deal with the difference in commissions that are charged for sending money in different national currencies. In theory, you can usually withdraw funds in any currency: for example, a payment in USD when sent to a ruble card will be converted automatically. However, this may not be profitable due to the low exchange rate set by the bank for incoming payments. When choosing a transfer method, you must take into account the currency in which the funds are credited.

It’s worth saying a few words about what wire transfer is. In fact, this concept hides an international bank transfer, which can be carried out through many Russian banks. To send money (as opposed to receiving it), the user does not have to create his own account: it is enough to simply provide the recipient’s details to the operator at the bank.

Wire transfer is a paid service. This means that the amount that the bank will charge for accepting or sending the payment should be added to the exchange commission. The amount of fees depends on the specific bank.

Let us dwell in more detail on the methods of replenishing the balance and withdrawing funds to fiat offered by the most relevant exchanges for Russia.

WEX

The WEX exchange supports most popular methods of working with fiat, but does not work with the WebMoney system. Commissions for depositing and withdrawing money are shown in the table.

The most important advantage of the WEX exchange is that it works without intermediaries with all payment systems. Some exchanges offer withdrawal of currencies to QIWI or YaD only through third-party sites, while WEX allows you to withdraw directly with zero commission. In general, commissions on the exchange can be characterized as low or average for all withdrawal methods.

The weakness of the exchange is high tariffs for replenishing the balance. Only the transfer of funds by international bank transfer can be considered relatively profitable. For those who want to buy Bitcoin for rubles, WEX leaves virtually no convenient ways to replenish an account without using exchangers. However, as we will see later, on almost all exchanges the fees for replenishing the balance through Russian payment systems are significantly higher than the fees for withdrawing cryptocurrency into fiat.

To work with any methods of depositing and withdrawing fiat money on WEX, you need to undergo verification. To do this, simply upload copies of documents confirming the user’s identity and residential address. Any official document will do, including the Russian national passport.

Exmo

The peculiarity of the Exmo exchange is that the withdrawal of funds to QIWI and WebMoney is carried out through an intermediary - the Money Polo system.

Money Polo does not allow you to top up your account using WebMoney and QIWI: in these cases, the system only works for withdrawing funds. When withdrawing WMR, WMZ and QIWI, the user will have to pay an additional commission above the amount that the Exmo exchange will charge:

• Webmoney - 2.5%
• QIWI - 0.79%

WebMoney withdrawal is only available to WMIDs with an initial certificate (or higher).

It is worth saying a few words about the process of working with the Money Polo system. Verification in the system requires proof of identity and address. It is allowed to upload documents in the national language, which allows you to pass the check using only a Russian passport. Uploading copies of documents opens the first level of verification. To obtain the second level, which removes the limit on transactions of 10 thousand euros, you will have to provide notarized copies of documents.

You can top up your Money Polo account using a bank card. In this case, the user will have to pay a commission of 4%, so the total commission when transferring funds to the Exmo exchange will be about 6 percent. Thus, depositing funds by international bank transfer is the cheapest way to buy Bitcoin for rubles on the Eksmo exchange.

Verification on the Exmo exchange is only needed to work with bank transfers. Proof of identity and address can be done using a national passport.

Livecoin

The Livecoin exchange differs from the platforms considered in the absence of direct withdrawal of funds to a bank card. To work with Webmoney, Yandex Money and bank cards, the Capitalist.net system is used.

In addition to Livecoin fees, Capitalist.net charges its own withdrawal fees:

• WebMoney - 2.5% (minimum $1 or 30 rubles), 2.2% after verification
• Yandex.Money - 2%
• Wire transfer - 1% (minimum $95)
• Bank cards - 2.5%, for payments up to 800 rubles an additional commission of 25 rubles is charged.

Thus, withdrawals from Livecoin to bank cards are more expensive than on WEX or Exmo: the total commission is about 5.5%.

Depositing funds into the exchange looks much more interesting: the Capitalist system allows you to top up your account by international bank transfer without commission. This means that the total commission for replenishing your balance on Livecoin in this case will be 0%. It is not possible to top up your Capitalist account using other payment systems.

Verification in the Capitalist.net system is not mandatory and is only needed to reduce commissions when transferring and depositing funds in certain ways (for example, WebMoney). To confirm your identity and address, you must upload scans of documents in Russian or English.

Like Exmo, verification on Livecoin is only required to use bank transfers. The verification process on the exchange includes not only the traditional confirmation of identity and address, but also the provision of data on trading on other exchanges and links to user profiles in thematic communities. Because of this, many users prefer to use bank transfer deposits and withdrawals through the Capitalist system.

cex.io

The cex.io exchange allows you to top up your account and withdraw funds using a bank card or wire transfer. The advantage of the exchange is zero commission for depositing US dollars by bank transfer. In addition, commissions for withdrawal using ruble Visa and Mastercard are 0.5% lower than on Russian exchanges, and withdrawal of funds to dollar Visa cards costs only $3.8, regardless of the payment amount.

Verification on the cex.io exchange is required. In addition to confirming identity and address, the user needs to upload a photo of the bank card to which the withdrawal is made (when using this method). Documents in Russian are not accepted.

Bitfinex

The Bitfinex exchange supports the only method for depositing and withdrawing funds - wire transfer. Since this is a foreign exchange, it is not possible to buy bitcoins for rubles on this site.

Withdrawal by urgent bank transfer within 24 hours (on business days) will cost the user 1 percent of the payment amount. To verify on Bitfinex, you must provide copies of documents confirming the user’s identity and address. Only documents in English are accepted.

Bitfinex checks incoming and outgoing payments quite strictly. When transferring a large amount, the exchange may ask the user to show documents confirming the origin of the funds.

Conclusion and conclusions

The most profitable way to top up your balance on most exchanges is by bank transfer. The exception is specific cases when the user sends a small amount or does not want to undergo verification. In such cases, you should choose Russian exchanges that do not require identity verification and work with payment systems through intermediaries: Exmo or Livecoin. Withdrawing earned money into fiat leaves many more interesting options, but the user will have to choose the appropriate balance between convenience and the amount of commissions.

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For many traders, arbitrage trading on the Forex currency market has long been no longer a secret, but a source of stable profit. Meanwhile, such a strategy can be successfully applied in the cryptocurrency market.

We will look at the three most common arbitrage schemes for Bitcoin and other altcoins and evaluate their advantages and disadvantages.

What is arbitration?

Arbitration is carrying out several transactions of purchase and sale of identical assets, the profit of which is derived from the difference in their value.

There are two types of arbitration:

• spatial– when trading operations are carried out on different trading platforms, but at the same time;
• temporal– operations are carried out on the same trading platform, but at different times.

Spatial Arbitration

The most common type in financial markets is spatial arbitrage. In simple words, his scheme looks like this: the price of the same asset on two exchanges is significantly different. The trader buys this asset where it is cheaper and sells it where it is more expensive. The difference in the price of the asset goes into profit for the trader.

It is worth noting that spatial arbitrage is possible solely due to the low efficiency of asset quoting within a single trading platform in particular and the entire system as a whole. There is also a key dependence: the less centralized the system itself is, the worse the interaction between exchanges is. Due to the fact that the entire cryptocurrency system is based on decentralization, this provides an excellent opportunity for cryptocurrency arbitrage.