Altcoin conversion to earn the difference

[Binance-Chief Analyst]

As we all know, there are differences in prices and trends between exchanges. Many people will ask if it is feasible or not. You have to try it before you know it.

[avikz]

This trading practice is known as arbitrage. Where traders benefit from the price differences between exchanges. It is very much possible and I personally have done it quite a few times back in 2016 - 2018! The number of exchanges were somewhat low at that time and it was easier to track the price differences. But nowadays there are bots available for such jobs. I have never used such bots but I am sure someone can help you with this. You just need a lot of money to put on both exchanges so that you can execute the trades in smallest time possible!

[OcTradism]

You can play arbitraging around if the coin you use has fast transaction speed and cheap transaction fee. The shorter waiting period you have with the coin you choose, the better opportunity for you to take profit from your arbitrages.

If you choose a bad coin or a bad period with network congestion or high transaction fee, you might end with loss as price can change a lot with time and among exchanges. Conversion directly on each exchange is bad as the spread is high and fee for conversion is not cheap.

[livingfree]

As we all know, there are differences in prices and trends between exchanges. Many people will ask if it is feasible or not. You have to try it before you know it.

Those people that are asking are unsure of what they are about to do and that's normal. I saw many times that someone who's asking if it's fine to sell at that time for that coin and as well as buying it.

It is okay that they're asking first before trying but you're right, they have to do it on their own to know what shall be the outcome of their trades. If it's profitable then that's good for them and if it's not, they just have to learn the lesson from it.

[Binance-Chief Analyst]

This trading practice is known as arbitrage. Where traders benefit from the price differences between exchanges. It is very much possible and I personally have done it quite a few times back in 2016 - 2018! The number of exchanges were somewhat low at that time and it was easier to track the price differences. But nowadays there are bots available for such jobs. I have never used such bots but I am sure someone can help you with this. You just need a lot of money to put on both exchanges so that you can execute the trades in smallest time possible!

Yes brothers, my friends, they have such script codes, and they even monitor the prices of most exchanges

[guydin]

Making money on the difference between cryptocurrencies must be approached very thoroughly. First, you need to carefully assess all the benefits and risks. You should start the exchange only with small amounts. To really get great benefits, you need to study the behavior of the market and closely monitor the exchange rate.