ARBITRAGE WITH CHINA EXCHANGES

[DrStein]

Hi all.

I am new to crypto and forgive my ignorance if this question is naive.

I just noticed that the price of ETH in a chinese exchange is 260$ and the current price in my exchange is 300$.

Could I just make an account to the chinese exchange, buy ETH there at 260$, then send the ETH to my other waller at my usual exchange and then sell it there again for USD?

I read all the above posts but the price difference that I saw is huge so...can this be done?

[1714841824]

1714841824

[1714841824]

1714841824

[metalbean]

People in China knows there's an arbitrage and still willingly uses it because the arbitrage is still the easiest way to move money out.

If you do the deal, how are you gonna move your money out from China? If it's 1000-2000 a day it might work, but large volume wise it's not practical, that is why people are actually more willing to spend on arbitrage.

[DrStein]

Well I just wanted to buy cheaper BTC, LTC, ETH...send it to my coinbase account and cash it out there.
But now that Chinese exchanges will be banned this plan is obvious canceled. After all almost all of them stopped the deposits with USD or Euro. Only CNY was accepted...

Thanks anyway.

[metalbean]

Well I just wanted to buy cheaper BTC, LTC, ETH...send it to my coinbase account and cash it out there.
But now that Chinese exchanges will be banned this plan is obvious canceled. After all almost all of them stopped the deposits with USD or Euro. Only CNY was accepted...

Thanks anyway.

And after 1st October even CNY will be stopped....