Why is BTC Price on QuadrigaCX lagging behind?

Atm price on quadriga is $15611 USD, while at coinbase its at $16,650? I wanted to sell at 16k but I cannot because it has not reached there yet on my exchange?

 

If that's the case, couldn't you buy BTC from Quadrigacx and sell them on Coinbase to make profit?

 

That is what I am thinking... But i cannot withdraw from Coinbase to my bank cause i am in canada so i have to use quadriga...

 

Ah, I see. An option would be to use Sythe, since the demand for BTC at this moment is high. I'm sure you would find someone quickly. Take USD as a payment, 100% blockchain rate, and then convert it to CAD and buy some more BTC on Quadrigacx. The price is lower so why not take advantage.

 

I've already thought about this, I am also Canadian. The problem is getting the money back into quadriga fast enough to not be risking a massive price fluctuation. Theoretically if you have enough money to buy enough to make a really good profit in one flip then it'd be worth. But it's not something that'd be easily done multiple times a day.

 

My deposit was fast enough with Interac ONLINE. took like 2 min

 

That's not the issue it's getting the money you sell your BTC for back into your bank to rebuy fast enough.

 

Hmm, you got a good point there. Let me see if I can figure somethin

 

How would selling on here go? Could i get scammed?

 

It is possible. However, if you trade with the right people*, you should have no problem. Check out the threads here and make your decision. If you think they are trusted enough for you to not get scammed, then go for it. Most people use Skype/Discord to discuss, and have PayPal as a payment method.

*Check their vouches, reputation, last trades, join date, activity, ... Find the members you can trust.

 

Do you happen to know if there is a way to withdraw fast to the bank account if I were to sell the BTC for PP or another payment platform?

 

Not sure. However, PayPal is currently testing a 30 minutes withdrawal option with US bank accounts. Hopefully it becomes available in Canada soon.

You're probably going to have the money in your bank after 3 days, so it's not too bad.

 

I think I found a way now to get more money, because atm I only have approx. $115 per transaction cause only investing $2500. If I can get 15k-20k I can get away with 1k per transaction

 

I was trying to figure out a solution to this yesterday when there were over $1000 gaps. Can't swap alt pairs back to quadriga because all prices on quadriga are lower than any other exchange. I was thinking I could sell bitcoin for tether, buy eth and send it back to quad but highest buy order on quad was $40 lower than any other exchange.

 

Even if I were to sell BTC here on Sythe, how do I take the USD back into a bank account and then back into the exchange? There is no way without waiting a few days...Not sure how tether would work or how long it takes ;/

 

Btw, is Quadriga the largest exchange by volume option in Canada?

 

I wouldn't trust tether with a dollar after the recent shenanigans. You would need to sell to someone on sythe for paypal/skrill and then withdraw the money to your bank. So add about 5 days there and that's being optimistic. Direct deposits to quad are supposed to take ~2 days but I haven't done one to confirm yet. Now you're out of the loop for about 7 days :/ In the grand scheme of things 7 days for 1k is pretty spicy.

 

Quad is a CAD exchange, the USD price you see is the USD rate if you traded the CAD received from selling a bitcoin for the equivalent in USD. Unfortunately this is not possible, as traditional Financial Institutions charge ~3% for the conversion of currency.

 

I also noticed litecoin has around 20x more activity right now than btc on quadriga...

 

Litecoin is the flavour of the week, it's gone up a lot recently.