It’s not that fast to trade BTC LTC and withdraw cash

For newbie Bitcoin BTC LTC, something to keep in mind. No matter which exchanger you’re using, chances are it’s not that fast to trade BTC LTC. For instant, you think that you can buy from a lower price BTC such as the one from campbx, then transfer that BTC to mtgox afterward and then sell it on mtgox to make profit, by the way it called “Arbitrage”, ERRR! it doesn’t work like that – so how does it work? in this case, when you purchased the BTC at campbx, they required the BTC to sit still hold for a  while, a great while actually, 1st time it’s up to 30 days, for the minimum of 2 days I believe. So as you can see you can’t “Arbitrage” BTC that easily, however you can still do but it’s not as profitable and feasible.

Now for those of you who mine LTC with GPU because it’s more profitable, then you trade it on BTC-E for instant, don’t expect your LTC turn into BTC that quick and withdraw. SO you traded LTC to BTC, but now you cannot withdraw your BTC due to the required several days hold. So as you can see it’s not that fast to move in and out! “Arbitrage” doesn’t work with BTC well 🙂 LOL

However with that said, MtGOX will be supporting Litecoin LTC trading pretty soon, so it might be a little better, but again! no “Arbitrage” don’t work well with BTC 🙂