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4. Transaction FeesTransferring funds across the blockchain and withdrawing them from Bittrex costs a fee for customers, with the rate unique for every coin.
Bittrex Global charges no commission for deposits. Please keep in mind that some tokens or cash may be required to perform a transaction by a crypto coin or token’s community. Bittrex crypto exchange can’t keep away from it.
Every token or coin has a blockchain transaction fee that is built in it, and the Bittrex fee is a small amount to cover this charge. You can view the fee percentage for every coin or token by clicking Withdrawal near to the coin. There you will see a transaction fee you will be charged for withdrawing a specific coin or token.
In the example below, the withdrawal fee amounts to 1 USDT
The transaction fee for Bitcoin came to 0.00050000 BTC
5. Trading FeesThe fee schedule below provides the applicable rate based on the account's 30-Day Volume and if the order is a maker or taker.
Bittrex Global Fee30 Day Volume (USD)MakerTaker$0k - $50k0.2%0.2%$50k - $1M0.12%0.18%$1M - $10M0.05%0.15%$10M - $60M0.02%0.1%$60M+0%0.08%>$100MContact TAM representative
Trading expenses are incurred when an order is prepared by means of the Bittrex worldwide matching engine. While an order is being executed, the purchaser and the vendor are charged a rate primarily based on the order’s amount. The fee charged by Bittrex exchange is calculated by the formula amount * buy rate * fee. There aren't any charges for placing an order which is not being executed so far. Any portion of an unfinished order will be refunded completely upon order cancelation.
Prices vary depending on the currency pair, monthly trade volume, and whether the order is a maker or taker. Bittrex reserves the right to alternate fee quotes at any time, including offering various discounts and incentive packages.
Monthly VolumeYour buying and selling volume affects the fee you pay for every order. Our expenses are built to encourage customers who ensure liquidity in the Bittrex crypto exchange markets. Your buying and selling charges are reduced according to your trade volume for the last 30 years in dollars.
Bittrex calculates the 30-day value every day, updating every account's volume calculation and buying and selling charge between of 12:30 AM UTC and 01:30 AM UTC every day.
You can check your monthly trade volume by logging in and opening Account > My Activity.
6. Withdrawing FundsWithdrawing any type of funds is likewise simple. You can profit by buying and selling Bitcoin, Ether, or any other cryptocurrency.
You determine the crypto address—to which the amount will be credited—and the transaction amount. The withdrawal fee will be automatically calculated and shown right away.
After confirming the transaction, the finances will be sent to the specified addresses and all that you need to do is to wait for the community to confirm the transaction.
If the 2FA is enabled, then the user receives a special code (via SMS or application) to confirm the withdrawal.
7. How to Trade on Bittrex GlobalCurrency selling and buying transactions are performed using the Sell and Buy buttons, accordingly.
To begin with, the dealer selects a currency pair and sees a graph of the rate dynamics and different values for the pair.
Below the chart, there is a section with orders where the user can buy or sell a virtual asset.
To create an order, you just need to specify the order type, price, and quantity. And do not forget about the 0.25% trade fee whatever the quantity.
For optimum profit, stay with liquid assets as they can be quickly sold at a near-market rate effective at the time of the transaction. Bittrex offers no referral program; so buying and selling crypto is the easiest way to earn.
Order TypesBittrex helps you alternate Limit and Stop-Limit orders.
A limit order or a simple limit order is performed when the asset fee reaches—or even exceeds—the price the trader seeks. To execute such an order, it is required that there's a counter market order on the platform that has the identical fee as the limit order.
Differences between Limit Order and Stop Limit OrderA stop limit order is a mixture of a stop limit order and a limit order. In such an application, charges are indicated—a stop charge and the limit.
Stop Limit Order Purposehttps://preview.redd.it/hlxvy9ti4zh51.jpg?width=1141&format=pjpg&auto=webp&s=064a77459a4dcb4555a885cbc56629aae10fc38b
Trade TerminalLet’s discuss how you could trade conveniently with our service.
The key features include a user-friendly interface and precise currency pair statistics (timeframe graphs, network data, trade volumes, and so forth).
The platform’s top-notch advantage is handy, easy-to-analyze, customizable charts. There is also a column for quick switching between currency pairs and an order panel beneath the fee chart. Such an all-encompassing visual solution helps compare orders efficiently and in one place.
You can use the terminal in a day or night mode; when in the night mode, the icon in the upper-right corner changes and notice the Bittrex trading terminal in night mode is displayed. The main menu consists of 4 sections: Markets, Orders, Wallets, Settings.
Markets are the trade section. Bittrex allows handling over 270 currency pairs.
Orders. To see all open orders, go to Orders → Open.
To see completed orders, go to Orders → Completed.
Wallets. The Wallets tab displays many wallets for all cryptocurrencies supported by the exchange and the current balance of each of them.
After refilling the balance or creating a buy or sale order, you will see all actions in the section. Bittrex allows creating a separate wallet for every coin. Additionally, you can see how the coin price has changed, in terms of percentage, throughout the day.
Here’s what you can also do with your wallets:
How to SellThe process of selling crypto assets follows the same algorithm. The only difference is that after choosing the exchange direction, you need to initiate a Sell order. All the rest is similar: you select the order type, specify the quantity and price, and click Sell *Currency Name* (Sell Bitcoin in our case).
If you scroll the screen, the entire history of trades and orders will be displayed below.
LONG and SHORTYou can make a long deal or a short deal. Your choice depends on whether you expect an asset to fall or rise in price.
Long positions are a classic trading method. It concerns purchasing an asset to profit when its value increases. Long positions are carried out through any brokers and do not require a margin account. In this case, the trader’s account must have enough funds to cover the transaction.
Losses in a long position are considered to be limited; no matter when the trade starts, the price will not fall below zero with all possible errors. Short positions, in contrast, are used to profit from a falling market. A trader buys a financial instrument from a broker and sells it. After the price reaches the target level, the trader buys back the assets or buys them to pay off the initial debt to the broker.
A short position yields profit if the price falls, and it is considered unprofitable the price matches the asset value. Performing a short order requires a margin account as a trader borrows valuable assets from a broker to complete a transaction. Long transactions help gain from market growth; short from a market decline.
Trade via APIBittrex also supports algorithmic trading through extensive APIs (application programming interface), which allows you to automate the trading process using third-party services.
To create an API key, the user must enable the two-factor authentication 2FA, verify their account, and log in to the site within 3 minutes.
If all the requirements of the system are fulfilled, you can proceed to generate the API key. Log in to your Bittrex account, click Settings. Find API Keys. Click Add new key (Create a new key).
Toggle on / off settings for READ INFO, TRADE, or WITHDRAW, depending on what functionality you want to use for our API key.
Click Save and enter the 2FA code from the authenticator → Confirm.
The secret key will be displayed only once and will disappear after the page is refreshed. Make sure you saved it!
To delete an API key, click X in the right corner for the key that you want to delete, then click Save, enter the 2FA code from the authenticator and click Confirm.
Bittrex Bot, a Trader’s AssistantRobotized programs that appeared sometimes after the appearance of cryptocurrency exchanges save users from monotonous work and allow automating the trading process.
Bots for trading digital money work like all the other bots: they perform mechanical trading according to the preset parameters.
Currently, one of Bittrex’s most popular trading bots is Bittrex Flash Crash Buyer Bot that helps traders profit from altcoin volatility without missing the right moment.
The program monitors all the market changes in the market every second; also, it even can place an order in advance. The Bittrex bot can handle a stop loss—to sell a certain amount of currency when the rate changes in a favorable direction and reaches a certain level.
8. Secure PlatformBittrex Global employs the most reliable and effective security technologies available. There are many cases of theft, fraud. It is no coincidence that the currency is compared to the Wild West, especially if we compare the 1800s when cowboys rushed to the West Coast of America to earn and start something new in a place that had no rules.
Cryptocurrency is still wild. One can earn and lose money fast. But Bittrex has a substantial security policy thanks to the team’s huge experience in security and development for companies such as Microsoft, Amazon, Qualys, and Blackberry.
The system employs an elastic, multi-stage holding strategy to ensure that the majority of funds are kept in cold storage for extra safety.
Bittrex Global also enables the two-factor authentication for all users and provides a host of additional security features to provide multiple layers of protection.
Bittrex cold wallet: https://bitinfocharts.com/en/bitcoin/address/385cR5DM96n1HvBDMzLHPYcw89fZAXULJP
How to Pass IP VerificationTo ensure higher security of your Bittrex Global account, the system requires all users to approve each new IP address through an email confirmation. This IP verification procedure is required every time you attempt to log in from a new IP Address.
Confirming your IP address.
The new IP address must be confirmed from the device that you are using to access Bittrex Global. This means that you must follow the CLICK HERE TO LOGIN link in an email on the device that you want to use to access your account.
To ensure even more security, Bittrex Global supports whitelisting of IP addresses and Crypto addresses. These two features can help protect the account in the event of credentials or API key loss.
How to Add IP Address to WhitelistBy setting one or more whitelisted addresses, you are telling Bittrex Global to only authorize trades or withdrawals from those IPs. This concerns both the global.bittrex.com web interface and API-based trades or withdrawals. To do this, click IP Whitelist in Site Settings.
How to Add Crypto Address to WhitelistBy setting a withdrawal address, you are telling Bittrex Global to authorize withdrawals only to that address.
This concerns both the global.bittrex.com web interface and API based withdrawals.
Note that when opting into this feature, you need to specify a withdrawal address would like to withdraw funds from for every currency. To do this, click Withdrawal Whitelist in the Site Settings section. The example below shows a BTC address.
AfterwordBittrex Global is a reliable and advanced platform for trading digital assets with a respected reputation, long history, and active market presence and development nowadays. The exchange is eligible to be used globally, including the US and its territories.
The legal component of Bittrex Global is one of the most legitimate among numerous crypto-asset exchanges.
The Bittrex team has had great ambitions and managed to deliver promises and more. The exchange staff comprises forward-thinking and exceptional individuals whose success is recognized in the traditional business and blockchain sector.
Bittrex's purpose is to be the driving force in the blockchain revolution, expanding the application, importance, and accessibility of this game-changing technology worldwide.
The exchange fosters new and innovative blockchain and related projects that could potentially change the way money and assets are managed globally.
Alongside innovation, safety will always be the main priority of the company. The platform utilizes the most reliable and effective practices and available technologies to protect user accounts. Bittrex customers have always primarily been those who appreciate the highest degree of security.
Because of the way the Bittrex trading platform is designed, it can easily scale to always provide instant order execution for any number of new customers.
Bittrex supports algorithmic trading and empowers its customers with extensive APIs for more automated and profitable trading.
One of the common features which is not available on the exchange is margin trading. No leverage used however adds up to the exchange's stability and prevents fast money seekers and risky traders from entering the exchange.
Bittrex is a force of the blockchain revolution and an important entity of the emerging sector.
The full version
|What's the weirdest thing you've sold? How many hours would you say you work per week? What's the most valuable thing you've sold?||Weirdest, that's hard to say since I collect oddities myself. Vintage jock straps would make the list. Link to imgur.com Link to imgur.com|
|Why were these links already purple for me?||They were on the front page of WTF a few weeks back so maybe you looked at them back then.|
|Annual gross sales? Net profit? Where do you buy your stuff from?||$110,000, $60,000 and I buy mostly at auction.|
|Does it get exhausting ALWAYS having to look for new product?||Sometimes. That's honestly the easiest part though. The shipping is the biggest pain.|
|What's the shipping process like, especially on your bigger items? And how do you deal with having to potentially ship multiple big items around the same time?||Sometimes I will spend an entire day just packaging. I bubble wrap my item and then put an two inch layer of foam cubes all the way around. Sometimes I will have to re-size a box or two.|
|What was the Black Keys experience like? And does it provide a steady income or does it come in spurts instead?||It's all about averages. I sold the Black Keys a very rare drum machine. I shipped it to their studio but never talked to any of them.|
|How did you know it was them?||One of their names was on the account and it was being shipped to the studio where they were recording in Nashville.|
|Have you ever been dicked by PayPal or ebay?||Oh yea.|
|Elaborate …||It's happened more than once. I had one customer who eBay allowed to return a package that they had accidentally run over with their car. The customer claimed that the post office had delivered it that way but I talked to their postmaster who said that was not the case.|
|That is not that bad compared to some stuff I have heard. This one guy sold a tape machine for >$5000 and the buyer claimed he never got it, and then the buyer got a full refund without any argument.||I've had customers try to rip me off for more but I won the cases.|
|Do you have a lawyer or something, or you just spend hours on the phone arguing?||On occasion I've been able to point out to them that the buyer is leaving a large amount of negative feedback which indicates fraud. In short though, you have to waist a lot of time on the phone talking to them.|
|Do you think if eBay where to start accepting bitcoin as a usable currency on their site that you would accept them for your transactions?||I doubt it. ebay owns paypal so I think they want to keep as much of the profits as possible.|
|What sale has been the most special to you and why?||I remember one customer who purchased a Christmas ornament from me. They were really excited and thankful because it was one that they had had before their house burned down.|
|Do you have any advice for people wanting to sell big ticket items ($500+ such as iPads, computers, cameras, etc.)? The last time I sold on ebay, I was scammed out of an iPad. The buyer claimed SNAD, by saying that I sent him and empty iPad box. Of course Paypal sided with him after I appealed the claim. What has been your strategy towards mitigating fraud?||That's a hard one. Although in recent years ebay has gotten better at dealing with fraud it is still a pain in the neck to deal with their support team. There is no sure fire way to avoid fraud. Always buy insurance and if you are worried about fraud you can take additional steps like taking video the item working and taking pictures of your packaging process. When you have an issue with fraud also check the buyers feedback and feedback given to see if you can see a history of fraud. This can help when talking to an ebay rep.|
|How did you find your niche?||I don't have a niche per say. I've found that it is better to have a well rounded knowledge. If you buy enough of any item though you will become more and more familiar with it.|
|If you had to set a standardised size for italian meatballs, What would be the diameter (in cm) of said meatballs?||2"|
|What are your primary marketing resources? Search marketing? FB? Newsletters? Word of mouth? Anything else? How much are your marketing costs?||I don't do any marketing of my own. ebay spends a huge amount of money marketing their auctions. I don't do many consignments so it doesn't matter if people know who I am.|
|But you sell only very niche, special interest items. How do people find your stuff if you don't advertise it? Are there people searching specifically for the book 1639 The Use of The Lord Verulam Viscount English Law Book 17th Century?||Not many if any. That's why the key words "English Law Book 17th Century" are in the title. Some items take a long long time to sell. I do sell other items such as cameras and audio equipment that sell much quicker as they have a much broader appeal. I also keep 400-500 items listed because like you said, there aren't many people looking for some of my items.|
|What's a good week's worth of income for you? About how many hours a day do you work?||I try to make a profit of about $1,200 a week. I don't always work the same number of hours but I probably work 40-50.|
|That[s pretty good I would think that this would take a lot longer like 80-100, good job. Was it way longer at the start until you got 'faster' or always like that.||I've only done this full time for 3 years so I had lots of time to practice while I sold part time. I was much slower when I started but luckily I didn't have to do it to make a living at that point.|
|How old are you? How far do you expect to grow this business? Will you be making six figures next year? What uni did you attend.||I am 32. I will not be making six figures next year. I am still a few years away from that. I attended Cincinnati State. My degree is in Graphic Design. I was a graphic designer for 5 years.|
|Did you start your business out of necessity or out of opportunity?||I was 18 when I started. My brother was 16 and we sold as partners. We've always been hustlers so we saw it as a fun opportunity.|
|Worst thing that happened to you during a sale?||How about worst purchase. I once purchased hundreds of brand new shoes of of craigslist with plans of reselling them. Turned out, none of them matched.|
|Were they supposed to match? If they were what did you do?||They were supposed to match but were just in a couple of giant boxes. There wasn't really anything I could do because after I noticed there was no way to find the buyer.|
|Sucks man. Well maybe someone else got the same shipment except they got the other shoes instead lol.||Ha ha, I think they were display shoes from a store.|
|How bad is paypal to deal with?||Terrible if their is an issue. They are getting better though.|
|What does eBay charge you for each listing? What about PayPal?||It depends on what category that you list in. This calculator can help you figure that out Link to www.newlifeauctions.com|
|Do you have to file taxes in every state with income/franchise taxes? I assume you have a CPA that handles it.||No, I only have to file taxes in the state of my residence.|
|Are you expecting a massive drop when the laws change regarding online sales?||No. A large percentage of my customers are fairly wealthy.|
|Why did you stop graphic designing?||It didn't pay enough, my boss was a jerk, and I hated working regular hours.|
|I'm guessing less than 60k then?||Yes, far less. I was worth a lot more but it was a tough market.|
|How can I get started?||Start by selling small things that you have sitting around your house. Don't go big, start small and work your way up.|
|What if I run out of things to sell? Do I buy things online and sell for a higher $$?||Yes.|
|Any good items to sell for starters? Cameras? furniture? antiques?||Stick with what you now best. Do your research on recent ebay sales of the same item to figure out how much you will make.|
|What kind of auctions do you buy from? Any tips for sellers that you can give us?||I buy mostly from estate and consignment auctions. My best tip is research, research, research. When you buy don't be impulsive. Know your market.|
|Do you have a target market? I always wondered if it would be wise to try to market to a niche on ebay or just put all sorts of things out there. Ebay has gotten so big, it attracts a diverse crowd looking for all kinds of goods.||I sell a huge variety of items so my target market varies from item to item. If you have an eBay store you can ad categories so if a person finds one of your items they can easy find other like items that you have for sale. You can also list in your sales that you offer combined shipping to encourage people to buy more than one thing.|
|Interesting, I've been seriously considering hustling and makin some money by going around to garage sales in my area. You can get some great deals. Once I bought a 5.1 receiver for $5 and then turned around and sold it to a friend for $30. I imagine I could extend that to ebay.||If you have some free time and a little extra money I say give it a shot. Plus the hunt can be fun.|
|Do customers try to scam you ever?||Occasionally but it is rare. That happens more with consumer electronics while I deal more with vintage, antique, and business.|
|Do you list items for sale that you are interested in buying beforehand, to see if you can make profit?||No I do not. That's a dangerous game of chicken and violates ebay policy.|
|Do you pay federal income tax? Has the IRS every given you a hard time?||I do. I've not had any issues.|
|Is it worth it? The commission they take must be ridiculous! How do you protect yourself from fraudulent buyers. I've heard ebay is very buyer biased.||You have to calculate the fees when purching things for resale. It it is always worth it for me. Make sure you insure your packages, take lots of pictures, and don't be afraid to block a buyer.|
|Any tips you'd like to add? I'm a 15yo who does the occasional sell on ebay so would love some! Thanks! :)||My tip would be to do your research. Check completed items to figure out what the average sale price of an item is. And if you need to check fees use a fee calculator like this one Link to www.newlifeauctions.com|
|How much would you take for your 6ft Mid Century Industrial Age Machine Work Bench w/ Cast Iron Legs & 2 Drawers?||I think I almost broke my back moving that monster. I'm open to offers. If you picked it up it would be less.|
|How to you figure out what to charge for shipping ahead of time? Do you ship all items even oversized ones?||I use a postal scale to estimate shipping costs. For items over 80lbs you have to use a freight service.|
|Vague answer. Care to elaborate?||Sorry, when you are listing an item you have the choice to either choose flat rate, estimated, or freight. For most items I choose estimated. I weigh the item, ad what I estimate the packing material will weight (it depends on the size but generally a pound or two) enter that information on the form, and ad a handling charge to cover insurance and packing material. For items listed as freight the buyer has to contacted me and I get a quote from my rep at freightquote.com|
|When is the best day and time to end a auction item?||It depends on what you are selling. I would normally try to end on any day but Friday or Saturday, early evening.|
|What's the largest amount of profit you made from a single sale?||Probably $2,000.|
|How much 'time off' do you give yourself? And what do you do about listings when you're on vacation? Don schedule any to end during that time?||I sell mostly store items so when I go out of town I shut down my store sales. I've taken two weeks off this Summer.|
|Ever made a substantial loss on something?||Not more than a few hundred.|
|Whats the most profitable item youve sold?||I once made over 2k off of an accordion.|
|What's the beat and cheapest place to ship from? Box supplies also? Thank you.||I ship using USPS. UPS is generally cheaper for large items. I get a lot of my boxes and supplies from friends and family but when I buy them I use Link to amshipping.com|
|Where do you store all this stuff?||Currently at my house.|
|Can you explain your process, maybe give us a run down on your workflow? Do you have a minimum ratio you are looking for? How you minimize shipping costs? When you say you buy at auction, does that include ebay? If so, primarily ebay?||I start my week by making a list of all of the auctions that I plan on researching. After that it's pretty much just buying, listing, shipping. It's not the same everyday. My profit margin depends on how much has to be invested in the item, estimated time it takes to turn it over, and the difficulty in shipping it. Higher priced items generally have a lower margin of profit. I buy everything from audio equipment to books at auctions. I don't buy to resell on eBay.|
|I notice you do pretty much everything as a Buy-It-Now/Make Offer -- there's only nine things as an auction listing. Is there a reason for that?||In recent years it's been my experience that for most items buy it nows get you the most money. The issue I have is a lot of my items are high dollar, niche items. There may only be a couple of people looking for them so if I sell them at auction I run the risk of them going very cheap.|
|Also: wifey and I are antique dealers, and so are my in-laws, and our experience, my inlaw's experience, and even what we hear from other dealers is that eBay sales are way, way down for antiques. What do you think you're doing different that keeps the sales coming?||I stay on top of buying trends. What people are buying is constantly changing. People in their 30s and 40s are now major buyers while people in their 70s and 80s are dying. Therefore the prices for things from the 1980s are up while things from the 1950s are way down. I don't just buy based on what I was able to sell 5 years ago. I check the current prices.|
|What method should I use to pay the ebay sellers fee? - Paypal or by Debit?||I use paypal which is directly linked to my checking account. That way I if transferred all of my funds out of my paypal it can pull it from my checking. Both Debit and Paypal will essentially work the same way though. The only issue would be if you didn't have any money when the bill was automatically paid.|
|What is your opinion on the eBay Buyer Protection? Do you ever get buyers who will receive an item, say it was not received as described, try to get a refund, send the item back and then turns out nothing was wrong with the item?||Buyer protection is pretty one sided. I had a package sent back once that was "not as described" that was never opened. I've also had people try to work the system for a refund while keeping the item. Luckily though most buyers are honest.|
|You've said that you mainly get your items from auctions? I've spent a lot of time watching Auction related shows on Discovery but I've never been there myself. I'd like to try acquire an item there and then resell it on ebay? Can I get an interesting product at an auction for around 100 pounds (~155 USD) Can you share some of your auction techniques? Such as how do you know that a particular item you're bidding on will sell at a bigger price? Thanks.||I don't buy at storage auctions. Plus those shows are rather scripted and set unrealistic expectations. A lot of estate auctions will have a list of some of the items that will be up for sale that you can get in advance or there will be a preview before the auction starts. Write down the items of interest and then search ebay for those items to see what recent sales have ended at.|
|I have an old Spirograph set that I'd like to sell on Ebay. Have never done that before, could you tell me how to go about that? Do I have to type in a lot of info, or is it all automatic? I mean, how do I get paid for instance? What do I need to set up?||You will have to set up a paypal and an ebay seller account. You will have to type in all of the information yourself. The process from start to finish is too much to type out but they will walk you through it. You will get paid through paypal and then have the option to transfer it to your bank account.|
|Why are you currently selling women uniform shirts?||Why not?|
|What would you say is your least favorite thing about eBay? And in your opinion, what would be the best thing eBay could change to help benefit the sellers?||The high fees. The best fix would be to either lower the fees or to change the way that they deal with buyer complaints.|
|Do you operate under an official business? If so, what type?||I pay taxes under my name. At this point I've not seen the advantages of becoming an LLC.|
|What do you sell primarily?||I sell a lot of antique books and vintage audio equipment.|
|I'm always looking to expand and branch out. I sell online too. My sales are nothing compared to your sales. My goal is to have a six figure salary before I am thirty, that I have created myself. Last year, I got 1/5th of the way. This year, I look to surpass that. Do you import a lot of goods to resale? I really try to stay away from that. What do your products really include? Do you hate the IRS as much as I do?||I buy all of my items locally. And yes, I hate the IRS. I pay them way too much money.|
|How did you get started?||I attended an auction with my mother and my brother when I was 18 and my brother was 16. We have both always been hustlers to some degree and this seemed like a fun way to make some money. We started off dealing mostly in vintage board and video games.|
|When exporting to place's outside of the US e.g. countries in the EU have you ever been screwed over by the exchange rate or import tax?||I have not. Paypal converts foreign currency to USD before it goes into my account. The buyer is responsible for all import taxes.|
|How do you deal with storage for all of the merchandise, packing materials ect. and do you pack and ship yourself? Any tips on making that a smooth or at least decent experience?||I'll admit, I'm not really that good at this. I did purchase another building to put my inventory in but it is not yet ready for the move. I do most of the packaging myself but I do higher some family members from time to time to work for me.|
|I see on eBay too for a living, but my average sold item is $31, so I have to do a lot more volume. Been using eBay since 1998. How do you feel about the lack of power that sellers have now? Have you ever been scammed by a buyer taking advantage of the "Buyer Protection Program"?||The buyer does have too much power. I agree. Fortunately ebay has recently taken steps towards fixing that. They aren't there yet though. It doesn't happen often but I have been scammed on a couple occasions. I have also won cases as well.|
|Does the international shipping charges depend on what country you're shipping to, or is it a flat rate or something?||It varies by country. There are also different shipping restrictions for each country.|
|Do you use terapeak? How do you SEO your titles and listings?||I do not. I generally search complete items and see what key words were used to fetch the highest price. Sometimes some creative thinking works just as well.|
|How much time do you spend working daily? Are your hours predictable?||I probably average 8. Its not real predictable as it is determined but where I am buying from that day and what inventory I have to list and ship.|
|Would you trust people selling pills on eBay? Do you think a lot of them are fake?||I wasn't ware that there were people selling pills on ebay. I would look at their feedback to see if they have a history of satisfied customers.|
|Do you use flat rate boxes or plain boxes? What's the cheapest way to ship non-media items?||I use plain boxes. Flat rate priority can be a savings if you are either mailing heavy smaller items or you ship a lot to far away places.|
|What percent profit would you say you have on each item you sell?||There is no standard. It varies from 25% to 200,000%|
|Funny that this is an AMA right now - this is my SO's store. Link to stores.ebay.com. Within the past few weeks he has been begging me to quit my full time job and work with him and I'm very tempted, your thoughts after quitting? Was it a good decision?||It's certainly not for everyone but I've never regretted it.|
|Do you have health insurance?||No.|
|Any advice for people who would want to sell manufactured items, i.e. cell phone cases, how do you go about starting this up? Where do you find people to produce items for you?||This is outside my area of expertise. Sorry.|
|What freight service do you use?||I use freightquote.com|
|What made you start selling on eBay for a living?||I sold on ebay on the side for 12 years. I was a graphic designer and I just got tired of working for someone that I didn't like for pay that wasn't what it should be. So I quit and started working full time selling on ebay.|
|If you were to sell products that are fairly commonplace, is there any way to get your listing to consistently appear higher in search results, or do you list so many that you get more people coming to your channel?||Yes, you have to earn the "top rated seller" status. When you search by "best match" it puts the sellers with a "top rated seller" status at the top. Link to pages.ebay.com|
|What was the most valuable/unique thing you've ever sold?||Most valuable would be a set of coins that I sold for $5,600. Most unique is a hard one. I sold quite a few screen used props from the movie Ben Hur which were pretty unique.|
|Ever thought of opening a pawn shop? Not sure what the marketplace is where you live, but you could do both (ebay/physical store).||I prefer to sell my own inventory. Dealing with cosigners ads an additional degree of difficulty and aggravation. Plus it would require me to keep business hours.|
|How do you do all the accounting? This may be the first year I may actually hit the point where I get sent a tax form, and I'm wondering what I should be doing in the mean time to prepare for tax season. Thanks!||I use turbo tax. I keep my records using a simple spread sheet. It is very basic with line items for total month sales, fees, and a breakdown of purchases.|
|Congrats on your sales. Your descriptions are very sparse. Do you feel descriptions are overrated? You do not have any info on shipping costs, payment parameters such as when payment is due, etc. Thanks & continued success.||If an item isn't unique then a long description isn't normally needed. Most people find the item because that is specifically what they are searching for.|
|Do you remember what was so special about the coins? I collect coins a little and I'm just curious||It was a proof set. I can't remember the year. There was one gold coin and the rest were silver. The rare one was actually the silver dollar because it was only produced for that set.|
|Have you ever considered buying your own Online-Store to save the ebay and paypal fees? What is your opinion on these?||A lot of my items are so niche that it would be very difficult to attract the right buyers with my own store.|
|Are you able to hookup Google Analytics, to see your customer demographics? Not sure if ebay is that robust for the users...||I am not. ebay has some analytic but they are geared more towards the items that you've sold than the buyers themselves.|
|That's really interesting. You don't happen to have a picture, do you?||Not that I could easily located and I can't for the life of me remember what year the proof set was. I only made $400 off of the purchase but I knew that I could flip it and make that money within 2 weeks so it was still a good buy.|
|Have you ever tries etsy?||I have not. esty tends to work better for hand made items. At least that's been my experience.|
|Ever consider getting into Amazon with more predictable products and using FBA to save yourself some trouble?||I also sell on Amazon. I've found that Amazon is good for selling more mainstream items.|
|What is the most overpriced thing you have ever bought?||The most I've ever lost is maybe $300. The most I've spent on a single item is 5k.|
|How many hours would you say you work a week?||40-50. Sometimes more, some less.|
|Do you find it worth it?||Yes.|
|I bet your house is very interesting. Does it smell a bit dusty though?||My house is very interesting. I collect oddities and art.|
|Do you still ship to Italy ? :p.||Some things, like Ben Hur props.|
|How's Steve Carrel?||I feel like there is a joke in here somewhere but since I am oblivious to it I'm just going to say, "he is doing well but his mom is a bit under the weather."|
|Can you approximate your yearly income?||60k.|
|Use registered post for anything valuable. Signature required on delivery.||USPS requires signature confirmation for anything insured for over $200.|
|OP did ...||Yep, the answer is of course me. My more recent purchases which are not pictured are two WWII practice bombs and a piece of one of the popes robes.|
|You can see the fees on eBay itself. They're ridiculous. I believe it's 9% of the final value fee and PayPal is around 3% or so. There's a few categories that have flat rate listings I believe, like autos. They also cut into your shipping costs as well.||They are category specific and vary from 4-9% on ebay. 10% would be a good average to use.|
|Why is it people with 0 feed back keep buying my shit but never pay.||You can change your settings to not allow 0 feedback buyers to bid.|
|I just wanted to tell you that you have a typo in the description of your Industrial Age Work Bench. you wrote "Pleas ask all questions before purchasing" ;)||I'll have to fix that. It's certainly not my fist typo ha ha.|
|Hello, I was wondering how far from your house do you usually go to find this stuff, and also, what the luckiest find you ever had was. Thanks.||Not normally more than a 45 minute drive. I once found a book on a shelf at a second hand store that was 29 cents that I resold for $250. As far as luck goes I was lucky to even see it at the store.|
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