ZB.com is NOT an arbitrage opportunity
Hello steemians!
If you are looking for an easy way to make a quick buck like I did this morning, DO NOT fall for the illusory opportunity to arbitrage the high prices at ZB.com
Couple of days ago a new exchange, gate.io, added BTS to its trading pairs. The BTS is being traded against USDT just like at ZB.com, so, naturally, I wanted to sell BTS for a high price at ZB, transfer USDT to gate.io, buy cheap BTS and sell them again at ZB. Rinse and repeat.
The problem is that ZB.com doesn't allow usdt withdrawals - that's the reason for the high prices there.
You'll be able to sell, but not transfer your money out of the exchange (not in tethers at least)
So don't fall for this illusion, guys!
Stay safe.
Cheers!
Thanks for your great analysis about BTS. Here is my picks for 2018 including BTS. What is yours?
My pick is BTS only. I really suck at trading, so I picked the best platform with most potential and went all in
Holding BTS is much safer than trading it. It has such strong buying pressure from BitCNY and BitUSD volume steadily increasing as well which require 2x collateral in BTS. This locks up BTS and limits the supply. Here's to a bright 2018!