In this video I discuss a simple crypto arbitrage tactic that can make you money time and time again. Additionally, I respond to a comment about ethereum and why it's price and market cap has gone up, and lastly I cover what I think might be one of the biggest potential cryptocurrencies of 2018.
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I still don't understand how you can take your usd again, I mean you buy let say US$100 in XRP you send them to another exchanger and now you have let say US$110 in XRP, how you trade these XRP in US$ to send the money to your bank for example if the 2nd exchanger doesn't work with US$ like binance for example?
You could use something like localbitcoins, localethereum, or even ebay and get significantly more than the $110 you have made (I'd say closer to $130-140 in this example). The only thing I'd be careful with is picking good trading partners on those sites that verified high feedback users. I know some people literally buying on coinbase and re-selling right on ebay for about 1.3-1.5x what they paid for it. I just don't necessarily like relying on coinbase in this case, but it is a way you can make money.
Theoretically profitable, but not practically. I tried it: 1. Fees eat your profits, if you do not move enough money. (E.g I used 5.000$ and made 10$ of profit before fees but only 1,70$ after fees) 2. If you happen to be lucky and have the 100.000 it would take to make a profitable amount out of the trade you run into illiquid market problems. With a 100.000$ sell order you are going to actually influence the price on the exchange you are selling at and this means you reduce it, which agains eats your profits or you may even lose money. 3. The risk is just too high. There is not only the risk of the exchange not letting you withdrawal or that it declares bankruptcy. The time transactions take to be confirmed by the blockchain are too high. In that time the price can easily drop 10% like we saw multiple times in the last days with ethereum. Buy and hodl in valuable coins is still the best way to make money with cryptos. Everything else is just an adrenaline rush.
Hey, man, do you understand arbitration? On one exchange rate can grow faster than on the other. And there is a period of time when you can play on the difference and earn. It's called cross-exchange arbitrage. And there is no need to translate anything between exchanges. On one buy on the other sell.
Good Video. I also discovered this a few weeks back and have been executing these trades for a little over a week now. Here are some of the lessons I have learned.
1) Understand transaction fees on withdrawls & purchases
2) Need to take advantage of volumes on this. Ensure you are moving enough money to cover the transaction fees. Otherwise you will get eaten up in transaction fees.
3) Understand the Bid/Ask Spread. On some of these sites often times the spreads are large and what this means is to the individual is your the supply/demand of these orders is small which slows down the process and ability to clear both sides of the transaction and the market can move away.
4) Utilize Google plug in for coinmarketcap. You can install a plug in to google sheets that connects to the markets you see on coinmarketcap. Build a grid for all of the sites you are signed up for and then check various currencies.
5) Site specific decimal points, each site sets limits on how many decimals you can withrdaw/transfer. This leaves fractionals behind in the various sites. Have a plan to consolidate these at the end to clear the entire amount.
This is a very good opportunity, however it's very important to understand and be organized when executing this. I set up my accounts/systems for about 2 days before actually beginning the execution of this process.
hey man, nice comment. I'm also setting my system from something like 10 days and I found some good paterns. Just have some issue on how to definetly calculate all the fees during the entire trade and how to clear all the amount on the varius exchanges. I will be glad to share ideas on what I have found intresting and also ask you some questions. Do you have an email were I can contact you ?
There are multiple ways that people manage this. I'm using an overly simplistic solution for this. For me I'm leaving the fractionals in sites that I frequently use and plan to clear them once a month. My plan for this is start with the site that allows the most decimal points transfer the amount necessary to round up the fractionals then move the whole lump back.
The time between exchangers is another important point on timing. So far I have not found a solution to this, however there are certain sites that are clearing the transactions significantly faster than others, so I have tried to use those whenever possible.
Such an awesome comment. I should have probably dedicated the entire video to this, but I wanted to at least float it out there for people as a possible idea. I had a friend do this and make over 14k profit in 1 month. Granted, he was moving over $1,000 per trade.
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