How to Flip Bitcoins
This is the easiest way to flip Bitcoins using an online exchange.
*Please note this is not a lesson in economics. Obviously if you buy low and sell high you will profit. This is solely in the interest of those looking for the most efficient and effective online exchange medium for turning USD –> BTC –> USD and earning a profit.
- Buy Bitcoin(s) on Coinbase
- It will debit USD from your linked Bank Account (takes around a week for the Bitcoin to show up in your online wallet)
- Sell Bitcoin(s) at a higher price on Coinbase
- Coinbase will credit your linked Bank Account (takes a few days for the money to show up in your Bank Account)
If you verify your identity on Coinbase you can buy INSTANTLY up to $1,000 at a time and up too $50,000 daily. You can then send the funds to another bitcoin wallet, another bitcoin exchange or a separate exchange such as
Cryptsy Poloniex to trade for Altcoins.
Mobile Flipping: Tab Trader
UPDATE: You can now buy and sell Bitcoins on the Coinbase Exchange
You can also use ShapeShift.io to instantly trade between Altcoins. Shapeshift also just realeased an iOS app making it very easy to exchange coins.
$ -->BTC Wallet--> Shapeshift--> ETH Wallet-->Shapeshift-->BTC Wallet-->$
If you want to flip Bitcoins in Person you can buy them on an online exchange and sell at a premium with:
(Another way you could flip them WAS between two exchanges using
- Deposit btc
- buy mt.gox btc
- withdrawal to Coinbase or Bitstamp
- sell on Coinbase or Bitstamp
Profit from the price difference. )
You can literally do this from any smartphone.
Like in any investment/trade , the more capital you have (are willing to risk) the more the potential reward on the investment.
The table below represents two of my profitable Bitcoin flips via Coinbase. The process is relatively easy and can even be done by SMS.
|Date and Time Bought||# of BTC||Price Paid in USD||Price Per BTC in USD|
|July 22, 2013, at 11:57AM PDT||2 BTC||$190.35||$92.77|
|October 15, 2013, at 07:52PM PDT||1 BTC||$147.04||$147.04|
|Date and Time Sold||# of BTC||Price Sold in USD||Price Per BTC in USD|
|August 28, 2013, at 09:46AM PDT||2 BTC||$235.15||$117.57|
|October 21, 2013, at 09:19PM PDT||1 BTC||$183.99||$183.99|
|Profit from Flipping Bitcoin||#1||$44.80|
|Profit from 2 Flips||$81.75|
The price of BTC is volatile and hit $200 on 10.22.13, $300 on 11.4.13, and $400 on 11.13.13
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