Profit via Exchanging?

Would there be much profit in it for me, even a small bit each week, if I were to buy btc for people who can't or don't want to. Like, at the moment a friend pays me $5 - $10 to buy him bitcoin. If it goes above $100 I get a lil more, but nothing is "set."

Would there even be at least $30 / week profit from this?

(Main problem is I'm personally borderline broke, so I'd have to receive the payment first in order to purchase the bitcoin and then send it to them.

Not including difficulty selling since I'm a fresh member. I made my account a long time ago and logged in here and there but constantly forgot login.

Anyways, here we are. Any help is appreciated.

If the price of bitcoin either stays steady or goes up. Then you would make profit. If your fee for buying bitcoin is 0% and your fee for selling is 15%.. then
For example if you buy 1 BTC for $100 on Monday. And the price of bitcoin is $100 on Monday
The the price of 1 BTC on Wednesday is $80. Well with your 15% fee you would charge $92. So you make a loss. While 20% drops don’t happen this fast, it isn’t something we haven’t seen. Your profit would depend highly on the performance of bitcoin and how fast you can offload your bitcoin. You can’t just suddenly start charging a 50% fee to make a profit. No one would buy from you

I believe what I am saying is correct. I might have to revisit this later in the day, since I just woke up

I want meaning I wanna charge 50% thats insane lol. I get what you're saying. What's the avg btc - PP ratio or just an example of an average trade price.

Originally Posted by myusernameok

I want meaning I wanna charge 50% thats insane lol. I get what you're saying. What's the avg btc - PP ratio or just an example of an average trade price.

The ratio I gave you is what it is in the market.
0% to buy bitcoin from a customer
15% to sell it to a customer

The 50% thing was an example. You'd have to jack up your fee just to make a profit if Bitcoin fell in price. People aren't just going to suddenly pay a bigger fee because you decided to change it. So its a fairly difficult to become an exchange in a bear market

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Also @Joe's Bitch made a good point. You also have to take into account bitcoin mining fees. While they are fairly low right now, its something you have to consider.

Originally Posted by myusernameok

I want meaning I wanna charge 50% thats insane lol. I get what you're saying. What's the avg btc - PP ratio or just an example of an average trade price.

15% is pretty normal, but people expect their BTC within a few minutes. Not sure if your customers would be happy to wait for you after payment :P

Yeah that part does make it more difficult to work with, although it would literally only take me about 5 minutes at most to get it to them.

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I get what you are saying. Thank you for the advice.

LocalBitcoin is the best way and easiest to get in and exchange quickly... And with good escorw

You can earn much profit when you invest your money in bitcoin now i see a big increase this few week. You can invest more now to receive a big profit if bitcoin increase more

yeah.. bitcoin is running away fast... Already above 7K$ now. At this rate of climb, we will see 10K$ pretty soon.

I work as a mod for a shitcoin and get a million a month or something. One day it spiked for some reason and it was pretty nice.

i just have bitcoin sitting around and its been profit for me, its just a matter of time

Not really, BTC can be worth the samr value for weeks.

Profit via Exchanging?

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