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Author Topic: Arbitrage / Easy money for new people  (Read 3324 times)
gregory51gosh
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May 22, 2017, 05:57:36 PM
 #21

could you please outline a little more? It is obvious that to put forward the idea of arbitration it can not be summarized in a few words.

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Qartada
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May 22, 2017, 09:20:59 PM
 #22

could you please outline a little more? It is obvious that to put forward the idea of arbitration it can not be summarized in a few words.
"Arbitration"...

It can be summarised in a sentence, and that sentence is "Arbitrage trading is a practice in which a person or bot corrects inefficiencies between different markets and different assets by buying and selling for the best prices in order to make a sure profit".

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May 22, 2017, 09:23:08 PM
 #23

I'm going to try this tommorow. I think I have a good exchange website where this would work. If not it doesn't really matter, if it does. I'll reply again.
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May 22, 2017, 09:29:41 PM
 #24

here is the big problem with this strategy of yours:
1) Find a newer exchange that doesn't have a lot of people.

this means when the exchange doesn't have enough people, it doesn't have enough volume. in cryptopia that you mentioned the minimum order that you can make is as small as 500 satoshi and these two means the orderbook is filled with small orders, sometimes it is so small that it can not even cover the transaction fees. and most of the time the profit is so small it doesn't worth the time and risk to even try this.

and worst part is that many of these small exchanges, for example Yobit are scam. or their wallets are empty, out of work, ...
and I have tried this, you go buy some altcoin there and when you want to withdraw you hit a brick wall. your funds will be blocked in limbo because you can not cancel the withdrawal and support doesn't reply and the price keeps falling on both places so when your withdrawal is finally canceled you sell at the same place at a much lower price and lose big time.
Best reply in here. True, I have tried this so many time, and made a nice profit, but ended up losing most (if not all) my funds. YoBit has a lot of arbitrage opportunities, but, as you said, one will hit a brick wall with their ever-lasting maintenance wallet. I have also seen a lot of other exchanges, but the profits seemed to be unworthy of the time, especially now during the rise of bitcoin fees.
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May 23, 2017, 12:37:38 AM
 #25

I'm going to try this tommorow. I think I have a good exchange website where this would work. If not it doesn't really matter, if it does. I'll reply again.

Use small amounts at first, notice the comments from people who lost money because of maintenance wallets, price fluctuations etc.

For the last week bcn has had an enormous spread between cryptopia and poloniex.

Right now you could buy a btc worth at cryptopia at 127 i.e., 780,000 bcn and sell them on poloniex at 187 for 1.45 btc as long as both wallets work, price does not move quickly against you, no security issues, no other problems etc. Some risk but fair potential gain.
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May 23, 2017, 05:16:03 PM
 #26

Many people are benefit from arbitrage. But please note a lot of risk in doing arbit for example inter-market transactions are very long time. Need more knowledge and the right decision to do an arbitration. Wink

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May 23, 2017, 05:21:09 PM
 #27

Many people benefit from arbitrage. But please note a lot of risk in doing arbit for example inter-market transactions are very long time. Need more knowledge and the right decision to do an arbitration. Wink
In a bull market we are able to do some good arbitrate as there are many exchanges we can take care of to make a good profit.There are risks involved and with more people coming into altcoin exchanges even they are having issues to accommodate everyone and so there are delays in getting your coins out.

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May 23, 2017, 06:17:04 PM
 #28

Many people are benefit from arbitrage. But please note a lot of risk in doing arbit for example inter-market transactions are very long time. Need more knowledge and the right decision to do an arbitration. Wink
would you like Give me recommendation a safe market for arbitration

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May 23, 2017, 09:38:06 PM
 #29

I find your idea principally good. But the key question is if the small advantages will be worth enough to compensate the total losses you will have with the newer exchanges?
It only works only if you are dealing with a decent amount of money ,if not it is not worth it,but in the past few days things are getting worse as most of the exchanges are getting DDOS and the withdrawal takes forever even with the alt coins and so it is good to take a break or find a exchange and stick with them rather than doing arbitrage atleast for now.


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May 23, 2017, 11:21:11 PM
 #30

Good that op has taken the pain to describe the arbitrage process here. I have been using this method for long. The presence of many exchanges actually made our job easier to get some quick profit. People with less experience with bitcoin can make a good amount of money from arbitraging.

Try c-cex for selling because II have noticed that the price in this exchange is always inflated for many coins. Also   using coinmarket cap website you can quickly find another exchange with less price for buying. It's easy money and not much trading experience is required.

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May 23, 2017, 11:38:23 PM
 #31

i think arbitrage not easy but very dificult
you must calculation fee and how long to sending and withdraw
you must know, this now sending bitcoin is very long time confirmation

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May 24, 2017, 01:18:54 AM
 #32

as a beginner you should be trying to learn the basic stuff first, then if you wanted you can move up to more advanced matters.
what you are suggesting is like telling someone who can not drive to go participate in a drag race! obviously you need to learn how to drive first, then drive for a while around at slow speed then speed things up.

if you jump in trying to do Arbitrage trading no matter how much you think you can analyze and see all the numbers OP listed through, in action you will hit a brick wall and you will feel a need for a strong bot that automates all of it for you.
You are absolutely Right. One needs to know the basics of trading before venturing that far or you might lose all coins. Sometimes, we ned to dig deep on formation before someone takes it and lose his hard earned coin. Wink
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May 24, 2017, 01:26:34 AM
 #33

as a beginner you should be trying to learn the basic stuff first, then if you wanted you can move up to more advanced matters.
what you are suggesting is like telling someone who can not drive to go participate in a drag race! obviously you need to learn how to drive first, then drive for a while around at slow speed then speed things up.

if you jump in trying to do Arbitrage trading no matter how much you think you can analyze and see all the numbers OP listed through, in action you will hit a brick wall and you will feel a need for a strong bot that automates all of it for you.
You are absolutely Right. One needs to know the basics of trading before venturing that far or you might lose all coins. Sometimes, we ned to dig deep on formation before someone takes it and lose his hard earned coin. Wink
Knowledge is very important before trying trading because that is one of the key in trading to be successful because if you lack that knowledge then you are more likely to lose the game and you will just make a lot of mistakes that can lead you to disappointment if you just study first about trading and what are the things you need to do and remember then you will often get profit rather than loss.

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May 24, 2017, 07:00:40 PM
 #34

I do arbitrage trading now and then but only on exchanges I trust and also on coins that I don't mind holding if my arbing doesn't work or happens in time. Also now fees for btc are higher so we need to make sure that we earn enough profits when we try to trade this way.

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June 09, 2017, 03:53:28 PM
 #35

Check this site http://trade.btcprojects.website/ if you are interested an arbitrage script and trade
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June 09, 2017, 03:57:28 PM
 #36

Won't work in bitcoin. If you're looking for quick tx times, you should pay quite a couple dollars for it to be processed within the next block. If the offset of the two trading prices you have is a couple of dollars, you'd already lose it just by transferring funds. In crypto, it might be a similar thing. There should be a huge difference between 1 exchange over the other to make an okay profit within the day. If not, you're simply wasting time tossing funds back and forth.

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June 09, 2017, 10:33:23 PM
 #37

Check this site http://trade.btcprojects.website/ if you are interested an arbitrage script and trade

I liked the site layout and feature to compare different exchange's prices in one place. There are other free services offering market comparison to find best bid and offer rates. But this one is brilliant.I found interesting and unknown exchanges on site.Why dont they add cex.io exchange to base data? Also they can add alert which automatically send email to customers when the rate for coin price reaches a x-week high.I already contacted with them via email.

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December 20, 2017, 11:31:04 AM
 #38

Hey Everyone.

I wrote this little script to check the variance differences between CEX.io and Bittrex as I noticed quite a big difference in USD pricing between the 2. Might be useful to some of yo so here it is:

https://github.com/xenothanhojem/arbitrage

Thanks!

Xen
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January 25, 2018, 09:31:47 AM
 #39

If you really want to do arbitrage as a strategy it would be better to have a partner from the other exchange and you split the profit.
This idea is good but we need to believe on the partner to keep his words all the times and with this idea too we cannot continue arbitrage as long as prices trades in gap. After some particular point, we need to move funds. But both of your ideas guarantee making use of price gap at least for one time.
[/quote]

Hey PokerFace3,
trust building is the biggest obstacle in doing this. I created this thread
https://bitcointalk.org/index.php?topic=2817211.msg28842082#msg28842082
to gather the people who are legit about doing this. All you need is another decent human being on the other side of the world and you can have a lifeterm business relation with mutual benefits. I`m not saying this is easy or not risky but it can be done.
So everyone who wants to be part of the solution please join the thread and chime in. Everyone who is part of the problem please stay away.
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January 25, 2018, 09:33:27 AM
 #40

I used to do this back in 2014 or so.

Back then there wasn't too many bots. And depending which currencies you were watching you could make an easy 2-3% or so.

However as time went on... more and more bots were added and it became very difficult to compete.

These days you can forget about doing this...

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