Why is BCC price $250 on HitBTC and 6 to 700 elsewhere? If I buy, can I send the coins to another exchange and get the more expensive price per coin ? Or do they take days to confirm, letting there price catch up?
I just looked on HitBTC and the price for Bitcoin Cash (BCH) was about US$750. Maybe i’ve misunderstood what you meant, but are you saying you see Bitcoin Cash for US$250?
What you describe – buying somewhere price is cheap and selling somewhere else where it’s expensive – is technically known as arbitrage trading. It’s a very easy and nearly risk-free (barring exchange risk, if done right) way to make money! As a result, arbitrage traders tend to keep exchange prices more or less synced.
As Kevin points out, at the current time all the prices for Bcash are within about $10 of each other, going by the markets shown on CMC:
The exceptions are those markets with very low volume. What’s happening there is that no one has bought or sold on that market for a long time, so the price is outdated.
Another case where you might see a wide difference (or “spread”) between exchange prices is when a particular exchange is experiencing problems, particularly with deposits or withdrawals. This happened with Bitfinex when clients were unable to withdraw fiat currency – as a result, people who wanted to withdraw were forced to buy Bitcoin and other cryptos on Bitfinex which pushed the Bitfinex prices for these products much higher than on other exchanges.
Oh yes, just to add – BCH transfer times vary due to their Emergency Difficulty Adjustment algo. Sometimes blocks come every couple of minutes, at other times every couple of hours or even longer. Bcash is hardforking in the next week or so to attempt to improve this. Note that if you have the relevant funding on both your buying and selling exchange, transfer times are irrelevant as there’s no need to transfer the coins between exchanges.
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