3 ms·
Or gained.
by tluyben2 5y ago
Or gained.
- lotsofpulp 5y agoPeople generally do not intend to play roulette while also transferring money to their relatives.
- Scoundreller 5y agoI do a similar thing myself to exchange currencies. My broker will let me buy a stock in Canadian dollars on the Toronto stock market, and then sell it a few days later in US dollars on the US stock market. And vice versa. Many Canadian companies trade on both. Shopify is another that you may be more familiar with (though I don’t use that one). You take some volatility risk over those few days, but on average, you save a lot on fees and make a bit of money over those days. Over enough transactions, even the volatility averages out.
- el-salvador 5y agoHow large the spread between two stable currencies USD/CAD can be? Compared to USD and Bitcoin.
- Scoundreller 5y agoIf you’re a bank converting millions, you get good rates. When you’re converting 0-$100k at a bank, they charge you 1.5% - 3% (for lower amounts).
- wavefunction 5y agoThat seems like a second-order of complexity over simply buying Canadian dollars with US dollars and vice versa. Is there a benefit I'm missing?
- Scoundreller 5y agoSaving 1-2% in currency exchange fees.
- echopurity 5y agoPeople generally do not go from $0 to $50,000 playing roulette either.
- fnordfnordfnord 5y agoIf you really need to minimize that risk then you coordinate the exchange on SMS or something. Intra-exchange transfers are instant. The risk is really low almost all of the time.