Topic: Arbitrage / Easy money for new people - page 6. (Read 3647 times)

Arbitrage is not practical anymore unless you have a lot of Bitcoins deposited in many exchanges. 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.

@nfcmgjh , it is a really good method and some of the day traders are doing these but with the transaction delays and the time taken while transferring  bitcoin is hurting these big time and i have shifted my focus on ETH trading for faster confirmations even then you have a really small window of opportunity to trade with ETH and more over i did have big delays with POLO and liqui recently as it took a couple of days to settle my coins with POLO and ended up in a huge loss and still i am waiting for a solution from liqui even after 36 hours.

It is well and safe to play the Arbitrage game in a bull market,but everything changes when it is a bear market,the possibility of making a profit will end up in a disaster if the market crashes and even if you are doing arbitrage never risk on doing it with low volume coins and shaddy exchanges as it will cost you in the end.

Yes, but it won't be easy to fully automate it due to how irritating exchanges can be with fees, deposits and withdrawals, etc.  You also want to stay well away from the super shady exchanges like YoBit or you might lose all your coins soon enough.

Ideally you'd have a human touch and it would be more like an arbitrage "software" which tells you exactly what to do.

Already tried it so many times and here is what I got from it:
By the time my deposit was confirmed some body else sold their coins and the buy wall was gone and I just rushed into it and paid the fees for no reason.
Or:
By the time I was able to deposit and sell with the desirable price I found out that Bitcoin price has changed in a way that the value in dollar didn't actually change and I thought I earned a profit but I really didn't.

I have never tried. And i think i will never try. Arbitrage is riskier than trade i think. just buy a cheap and trusted coin after some little analysis and research, wait a little bit and sell. That's all. I don't want to buy a coin just because the prize is different between two different exchange. How do you know how much time the transaction will take?

Bots may not be able to do the job in a long- terms as most bots loses after getting some few profits. Arbitrages is one of the best way to earn bitcoin but don't  jump into it without adequate know on how it works and pre idea on the fees charge by your two exchangers as this determine if you will make profit or not.

In arbitrage there are a lot of thing to mention. In my opinion only a bot can do this job.
I'm thinking to develop a java bot to do arbitrage.
Do you think is a good idea?
best regards

I agree with the post above, you should take a look with confirmation time and the price gap between each exchange to avoid any loss happened. Because if you just blindly sent your address especially to new exchanges you might ended to lose.

Arbitrage trading is one of the best way to earn, it got small profit but it is safe but there are so many things that you need to know before try arbitrage trading, eventhough there are a lot of exchanger that have different prices but we also need to consider the transaction time and whether anyone is going to buy our bid, so it is not easy to do arbitrage trading

There is no doubt that arbitrage is one of the best source of fast income as of now because there is a lot of exchangers available and it is easy to make money by buying cheaper and selling it for a higher price on another exchanger. Arbitrage is so easy because you just need to transfer coin to another exchanger and you can make money.

here is the big problem with this strategy of yours:

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.

Here is an easy way to make money if you don't know too much about coins.

1) Find a newer exchange that doesn't have a lot of people.

2) Go to coinmarketcap and open that exchange's page e.g. https://coinmarketcap.com/exchanges/cryptopia/

3) Make sure you have BTC selected as the currency.

4) Go down the list from high volume to low volume and find a coin that trades at substantially different prices on two exchanges. For example buy/sell 0.0001/0/0002 on one exchange and 0003/0.0004 on another.

5) Look at the histories of that coin on both exchanges and decide if confirmation times allow you to be pretty sure of making money.

6) Look at depth on both exchanges and make sure it looks adequate in both directions.

7) Never risk more than you can afford or need to risk. On low volume coins traded on obscure exchanges you could walk into a trap so avoid exchanges known for setting people up, e.g. exchanges that list overtly bad coins.

Arbitrage is still wide open in crypto and a good way to learn about coins, since you should research a coin before you arbitrage it. Anybody could have made some program to arbitrage all coins across exchanges, but I guess the experts are leaving low fruit for new people.

Arbitrage provides a service, it lowers prices and keeps predatory trading in check, and can also be profitable.