Arbitrage between Korea and US brokers

lopez cryptomania

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Activity: 112

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Quote from: J-Sun231 on December 24, 2017, 06:02:29 AM

1.Korea is 30% more expensive than the United States.

2. You buy coins in the United States. I sell in Korea and withdraw money.

3. Divide your earnings by 1/2

4. We have huge profits because of continuous transactions.

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Karb1t

newbie

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Merit: 0

I'm in korea doing Arb trading for about 6 months now and currently this week its at its best with 30% across all the coins.

Im a permanent resident here and have full verified accounts with coinone.co.kr and bitthumb - trust what many comments say its impossible for non-residents to withdraw fiat on Korean exchanges.

There are a number of tools we use to check prices here is a snapshot of the arb spread right now:

http://i65.tinypic.com/14tle6f.png

Moving Fiat out of South Korea sure has its limitations ( for individuals this is only 50,k USD) - BUT there are a number of ways I use via Corporations / exports. ( details i'm reluctant to go into publicly here for obvious reasons)

Peace x

imyashir

copper member

Activity: 448

Merit: 110

Quote from: wagi on December 24, 2017, 07:41:42 PM

Quote from: imyashir on December 24, 2017, 07:40:46 AM

I also noticed the price of korea exchanger quite expensive compared to the U.S exchanger. I would have liked to do it but I was afraid I might lose the funds I would have experienced in exchanging korea.
have you ever tried the korea exchanger?

Try to get experience with small capital in both exchanger first if you wish to do arbitrage. So you can be more confidence when you send money from or to that exchanger. For arbitrage strategy, more exchanger you know as comparison is much more better rather than just one or two exchanger only.

i read in top the comments what is the risky abritage in korea exchanger. How about korea exchanger needed kyc approval before u access in withdrawal im not a citizen in korea and I do not know anybody or kinsman in korea just incase you're hesitant. Right now im focusing in the top exchanger also like bnb, bitfinex, and bitrex. Thanks for others comment and you reply my comment also.

mulukey

member

Activity: 308

Merit: 10

Korea and the United States are currently the two largest markets for virtual currency trading. Nowadays Korean youth are very interested in crypto and you can see that in Korea there are quite a lot of commercial crypto sites. The United States has a rather tough policy on crypto exchanges, so I think South Korea is in the lead.

wagi

full member

Activity: 196

Merit: 100

Quote from: imyashir on December 24, 2017, 07:40:46 AM

I also noticed the price of korea exchanger quite expensive compared to the U.S exchanger. I would have liked to do it but I was afraid I might lose the funds I would have experienced in exchanging korea.
have you ever tried the korea exchanger?

Try to get experience with small capital in both exchanger first if you wish to do arbitrage. So you can be more confidence when you send money from or to that exchanger. For arbitrage strategy, more exchanger you know as comparison is much more better rather than just one or two exchanger only.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

It's the getting money bit to their US friend which is the extremely hard part. Everything else is easy.

Like I said, that price difference is all you need to see to know that these problems remain in place. When there's this big of a difference between markets it always means there's something broken and insurmountable in the flow of money.

If it could flow the difference would be erased in minutes, but the Korean premium has been around for years.

jerry0

full member

Activity: 1750

Merit: 186

Is there a reason why koreans cannot buy btc from us exchanges then? I dont think they are restricted right?

Okay so you are telling me someone from the us could buy btc on coinbase etc for a much lower price. Then send the btc to a korean person. Then the person sells the btc on the exchange... the korean would get korean won in their account right? Would they have any issues cashing out money to their korean bank account? I believe it has to do with limits? Such as a person can only cash out a certain amount per so and so? Because if not, couldn't a us person buy btc, send btc to their korean friend. Their korean friend sell btc on korean exchange... then withdraw the won to their bank account. Then somehow get the money to their us friend?

gentlemand

legendary

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Welt Am Draht

It's very easy in korea. far easier than almost anywhere else by the sounds of it. but it's impossible for a foreigner to get their fiat onto a korean exchange or out of it. It's basically a hermetically sealed market that can't be accessed by foreign money hence the completely different prices and behaviour.. It's Koreans buying and selling to other Koreans and no one else.

And there's no USD. It's the Korean Won - KRW.

jerry0

full member

Activity: 1750

Merit: 186

So if a korean uses money from bank and deposit it into these exchanges or if they send btc to these exchanges, its hard for them to cash out in their currency? So how do they sell btc then? When they do, do they get usd in their korean exchange account? Then how do they cash out then?

gentlemand

legendary

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Welt Am Draht

Quote from: jerry0 on December 24, 2017, 05:06:59 PM

Someone in korea can't create an account on a us exchange?

Getting fiat in and out of South Korea is serious hard work. The whole time the South Korean market has existed, these premiums have too. If there was a smooth way around it you can bet your bottom Won that premium would've been wiped out in seconds by people arbitraging it into the ground.

That fact that it's indestructible tells us all we need to know.

This article is two years old and still fully applies - https://medium.com/cryptonight/investigating-the-great-korean-bitcoin-arbitrage-opportunity-32e4e547a730

jerry0

full member

Activity: 1750

Merit: 186

Someone in korea can't create an account on a us exchange?

negamus

full member

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I wouldn't do it, you need to pay a lot of attention about in where are you putting that money. If you have bad luck, you can easily lose all your money if that exchange is a fake one.
Exchanges from korea are not trustable

CyberKuro

hero member

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Quote from: J-Sun231 on December 24, 2017, 06:02:29 AM

1.Korea is 30% more expensive than the United States.

2. You buy coins in the United States. I sell in Korea and withdraw money.

3. Divide your earnings by 1/2

That's the main problem here, someone from the US who buy the coins but have to share 50% profits with you.
Arbitrage trading requires a lot of money to generate profits, but another problem how to transfer the funds as you sell it for KRW and someone from the US want US Dollars. It's not easy to send thousands or hundreds of dollars out of the country as you have to fulfill all the legal documents.
Don't you think it's better for you to come to the US and buy bitcoin or altcoins, back to South Korea and sell those coins?
No need to pass the financial regulator, no need to transfer the funds and less risk than someone in the Us have to trust a stranger in South Korea.

Tipestry

newbie

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Merit: 0

Which exchange has the 30% premium right now?

Ratko1922

member

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General Director at MoonBounties.io

Arbitrage is not that simple, even if it seems so. It carries a lot of risks due to price change, liquidity change, and many other things.

criz2fer

full member

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I thinks whales still control its price. Since many trades of volume in south korea, there maybe more expensive than other exchangers specially from other exchangers

giveen

hero member

Activity: 826

Merit: 1004

Not worth the prices of korean exchanges always remain high during a fall in price you might be able to profit by re buying otherwise you need to withdraw those funds to some local bank in korea. If you have any trusted friend or relative residing there then it's profitable otherwise this is a online world , you might try to make couple thousands and end up losing everything.

Abritage isn't easy trade carefully.

Lucius

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Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: shursight on December 24, 2017, 09:05:03 AM

Quote from: J-Sun231 on December 24, 2017, 06:02:29 AM

1.Korea is 30% more expensive than the United States. 2. You buy coins in the United States. I sell in Korea and withdraw money. 3. Divide your earnings by 1/2 4. We have huge profits because of continuous transactions.

Came on, dont you think that you are so clever because of that?

Let me tell you that most of the Korea exchanges are going to ask you for giving your identification, the KYC but from them, most exchanges from there are using that.

If you have to provide some ID's or whatever they ask you to give them, are you going to provide it? dont you know that most korea exchanges are created by normal people and they do not have a proper volume?

If they want to disappear, they can do it in just a few minutes.

Thank you, but that is too risky

What OP is suggest could work if he/she is from South Korea and can easy make account in domestic exchanges.There remains the question of trust and how will fiat be transfered between OP and his partner.Not so long ago one user open thread and asking about opinion to move in South Korea because of trading,and I think he have very good plan regarding this.

I bet that this we discuss here possible/impossible-some people use for some time and make nice profits.People always find some sort of solution to achieve their goal,and money is the biggest motivator in that.

Serpens66

legendary

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Merit: 1131

the biggest question is, how to withdraw the money and convert it back to USD or EUR ? You would need a korean/simbabwe bank account and reasonable exchange fees. But where/how?

DaMut

sr. member

Activity: 1274

Merit: 263

Seriously Arbitrage is not an easy thing,
if we are talking about the profit that it can generate from the differences,
i think it would be more profitable if you are doing an arbitrage from International exchanges to Zimbabwe exchanges.
in there you can find a huge different in term of price compared to korean exchanges,
but,why nobody do that ?
because it is very risky.
we can lose all of our investment in a single night because of that.
also the arbitrage need 2 people from different places to take this action,
how can we easily believe someone that we do not know to keep our money ?

Topic: Arbitrage between Korea and US brokers (Read 408 times)