This is third article from my series (links to other two in the bottom). This method if timed right almost guarantees success but of course few things can always go wrong.
ARBITRAGE
Heard of it? No i dont mean the movie (its pretty good, watch it!) but method. Buy asset on one place cheaper and sell on the other more expensive.
In this case we snipe for crypto thats cheap on one place and more expensive on the other. Believe me these things happen often.
Exchanges
For starters register to Bittrex (usualy this one will have the ighest price) + Binance + HitBTC + Cryptopia.
These exchanges are +/- secure so deposit some BTC into them for the time when action is needed and hold some ALTs that you believe may have pumps as usual 1 exchange drives the pump and others are for arbitage.
Take your time, register there now as they dont need any ID verification and deposit some BTC even low number.
Types of Arbitrage
There are 2 types, buying at one and sending to another (risky, works just for fast coins) or having funds on both exchanges and selling and re-buying at cheaper one as long as you can.
Having funds in both works best as you dont care of network being stuck and such but you need to be lucky to have right coins. So for example if you will see an opportunity with STEEM you should hold some BTC and STEEM on all exchanges that you trust that have this pair.
Today was great example, you could buy DASH at BitFinex and HitBTC @ 0.081-83 BTC and sell on Bittrex on 0.086.
Same today you could sell BTG (Bitcoin GOld) on Binance for 0.067 and re-buy at HitBTC](http://fuk.io/hitbtc) at 0.045 BTC. FREE MONEY if you are in right time and right place.
Cryptopia Arbitrage
Cryptopia is an exchange trying to get its momentum, they even have bot that shows you how to arbitrage their coins for free.
Risks
Often during pump exchanges have closed or spammed wallets or network of coins is saturated and you wont be able to send between exchanges. Always try first on small amount or use the method of keeping funds on both places. Remember the more exchanges you have the more likely you will have opportunity but also the more exchanges you have the bigger chance is that one will go down and steal your money.
Pairs of Exchanges to use
You need to watch out but here are base ideas that most often happen.
- Bittrex with Binance or Cryptopia
- Binance with HitBTC or Coss
- Cryptopia with CoinExchange or BitFinex
Other Parts of this Series
https://steemit.com/bitcoin/@kingscrown/the-easiest-way-to-make-money-on-crypto-here-it-is-part-1
https://steemit.com/bitcoin/@kingscrown/the-easiest-way-to-make-money-on-crypto-here-it-is-part-2
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
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