The Easiest Way to Make Money on Crypto? Here it is. Part 3.
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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The earliest way to get rich and not just make money with crypto is to buy BTC and hold for year or two.
thats in part 1 or so.
yes sir
I followed you support me i upvote u
How much did you make from arbitrage?
Nice post..
bcak me vote and Comments...
And Follow me plzzzz....
This is the key and the maker of 70% of those who have wealth from crypto now
Or trade in new ICOs, you'll see something in few months ...
I just don't have the nerves to trade.
So for every "businessman" who has some extra cash we'll be happy to do the laundry for a measly 13% fee :)
Just buy a few bitcoins and relax a few years to reap your investments back.
All eyes on bitcoin investment now
Every member should earn supperb support me i upvote u
nice
i partially agree.
for me, hold and get extra when you can, like last week end on BCH
Yes thats the easiest way, but many people are not patient mostly when they are new in this field.
To gain financially freedom is always risky but I think it's great to invest in growing Altcoins and hold them for 2 years. Electroneum (ETN) is a great coin to invest in, I believe it's going to take off in early 2018.
Thats it ...
Not electroneum. EOS!
Agree KacieBusiness
visit www.electroneumworldwide.com for blogs on Electroneum and news updates
If only we knew that in 2012.
Crypto will be high then 10k$ in coming time
Stock market is safer but no guarantees either way. Invest at your own risk!
Stock market will have a 40-70% correction soon.
70% is extremely doubtful. That is great depression levels
If you factor out the $15 trillion printed since 2008 globally (into GDP) you get to great depression examples real fast. Problems delayed to the backs of pensioners. Soon near you.
It does seem eminent but when ?? Cause i have been hearing it for the last four years!!
It has been delayed 10 years through printing. Can be delayed another 10 but inflation will start to hurt and it will be met with higher interest rates. This will eventually hit a hard wall. I don't have a clue when but I am certain it is UNSUSTAINABLE.
Dead On. 70% is not out of the question, but would expect 50% to be more likely. Really will depend on the reason the markets start their correction.
Okay nice comme
1,000's of new Cryptos .... each with a predetermined float .... what could go wrong ?
All true, but the current valuations are a little nerve-wracking. The markets seem due for a correction or a period of price stagnation. Yet, we may never get the pain that we deserve. It think the bankers have figured out how to rig this thing in a sustainable way.
Well, until such time as the reckoning comes. In any case, I'm saving a chunk of cash and looking for buying opportunities disguised as bad news.
Own some silver, it will jump drastically as the markets free fall and it will allow you to have more buying power for those opportunities.
I have a crapton of silver. I wish the price would break out of it's range so I could buy or sell. And dealers have their premiums too high, too.
I have a great working relationship with a local dealer and get silver rounds at a great price. Naturally it's above "spot" but that only makes sense as that is a bulk price. Also find it at garage & estate sales for under spot all the time. Another way to pick it up cheap is to be the "dealer" and run ads for buying silver. I pay under spot and get large amounts this way.
Think I just found a blog post topic...lol
Good Idea ! Another good way to make money would be be to short sell with ETF's !!
Hard to time, though.
You will see profit taking and sell offs of securities, but i dont believe drastic drops are in the future. The tax plan is causing current red in the market. Time will tell though lol
I think you're right. Different factors are muting any movement toward a correction or even major slowdown. Muting but not preventing.
When everyone is waiting for correction, it never happens. There is too much money sitting on sidelines waiting for correction. I do not believe you can see more than 10% correction in stock market in near future unless something drastic happens.
Been in the markets since a teenager and trust me when all the talking heads are saying it can't happen because "insert any BS they are spouting" that is exactly when it happens.
Plus there is more political and social tensions now then any point in recent history. There are landmines all over the place and anyone of them can set off a chain of events that will trigger a market crash.
Biggest problem is that if something happens the Central Banks won't have a solution. Until the current QE has been undone (rates normalized and balance sheets of central banks brought back down) they have no bullets left in their chamber to fight off any sort of financial collapse or economic downturn (which would then cause a collapse as P/E's are at insane levels assuming lots of growth).
Add in the massive debt loads of the governments of the world due to the last downturn and the increasing tax burdens the people must face to cover all this spending and corporate bailouts...yes shit will hit the fan.
Pull up a 5-year chart of the S&P and look at what happened mid 2015 to early 2016. That is what corrections look like these days.
Yeah, but you can loose your money too ;)
nice
Check, lets hope so
yea
I have bitcoin but having say that I am so sad didn't knew to how to run it out or how things are possible to get points on it.
Agreed, by far the most easy ;-)
Visit CoinCheckup.com | SteemIT - Daily Technical Analysis
Attention, we must be careful because very often wallets are blocked.
so true.. always check a wallet on both sides before shipping!
Invest in BTC and have around $50 worth of coins for say top 5 alt coins! Hold and Wait :)
If you want something that feels good you can buy $500 worth of heroin.
This comment has received a 4.08 % upvote from @sneaky-ninja thanks to: @jmehta.
The korean exchanges are juciy for arbitrage. Sometimes as much as 20-25%. I know not everyone can register, but sometimes there is a huge difference on exchanges like Korbit. Profits to be had!!
Great post and one well worth looking into and learning from. I'm not so new to crypto's but the I am to the trading aspect of them. I would imagine for newbies this would also introduce them to the ins and outs of actually using the exchanges and learning of different one's! Nice and enjoyed!
@kingscrown it does take a little work but you are right there is money to be made.
I Made profits with arbitrage before a bit stressful and risky at the same time, specially when transferring bitcoin back and forth because of confirmation time.
For me it's more easy to make profit by running market maker bot.
Investors are now turning to cryptocurrencies like bitcoin as it offers increadible returns on investments. Bitcoin is fast approaching 600% gain since it low end in 2015. What broad based S&P 500 would take decades to return crypto currency like bitcoin attains it in 2 years. In reality, bitcoin's market cap has touched a $110 billion, the largerst when compared to many established Dow Jones Industrial average component .
Great video. I agree that sticking with the coin that has the most experienced developers is the safest strategy.
There's a major caveat emptor associated with arbitrage particularly in crypto assets...watch the trade volume especially the 24hr trade volumes closely! An 'opportunity' for arbitrage might appear on an Exchange, say cryptopia, with a lower entry price while another Exchange, say Yobit, has a lucrative exit price. As enticing as it may seem, if you don't consider the trade volumes on the coin, particularly for the Exchange you intend to sell the coin on, you may get stuck in a bad price.
How do I mean? Follow me closely, say u get a good bargain for XRP on Bittrex @3200 sats and you see that Yobit is selling XRP @3800 sats, that looks like an easy way to run off with 600 sats on arbitrage, right? Wrong! Because a closer look may reveal that XRP on Yobit had a 24hr trade volume less than $3000 implying that though statistics may show sales @3800 sats, actually getting someone to buy at that price may take forever, if at all.
So, as a matter of due diligence, always make sure you check trade volumes, among other factors, before engaging in arbitrage...or you may find yourself stuck in a coin for a long period of time, lol #JustMyTwoSats though :)
Sage advice, volume is very key
Yeah, volume is one place where noobs easily miss it...I know it took me a while to figure that out