Great tool, thanks for that! I just don't understand one thing, can you help please?
When I buy cheap on one exchange then I sell it on another exchange I make a profit. But I still have my money on that exchange, I don't have them actually on my credit card. When I want to send the money to my credit card, everywhere are fees like 2% or even more! So I don't understand how you can make money on it basically.
Can you explain please?
Great question! I'm actually working on a solution that I call a "road-map", it is designed to show as title suggests a "step-by step" map that will be guiding you on how to profit with arbitrage without having to pay hefty withdrawal fees that were adopted by some exchanges. This is being addressed by buying another coin and moving it to an exchange with lower withdrawal fees that would eventually make the transaction profitable.
Please note: to be able to take advantage of the lowest withdrawal fees, most exchanges would require to have your identity verified. Also, some withdrawal methods are more profitable then others. (E.g., SEPA, WIRE etc...)
It would be great. It is difficult for a newcomer to try arbitrage because of a lack of knowledge on explicit and hidden commissions on exchanges and transfers. It would be nice to see the manual for operations. You do very much the right thing. Thank you.
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