Below are the prices of BTC as of now between Coinbase, Poloniex and BitFinex. I've often seen differences of >$100 between Coinbase and Bitfinex. I've realized attractive profits by playing the arbitrage, the price difference. I would buy in Bitfinex lower price, send the bitcoins to Coinbase and sell for cash. This easy and simple process, I would rinse an repeat again, again and again.
So, keep an eye out on the price differences between these and other exchanges and profit from the arbitrage.
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.
How can you abitrage, if you can not deposit/withdraw USD at bitfinex?
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USDT
but coinbase will be one way with USD or buy ETH/LTC on coinbase when very little price difference and transfer to bitfinex, and exchange for BTC sell on Coinbase or any other exchange. Rinse, repeat. When you're netting $700 or more per round on this kind of arbitrage, it's worth the steps!
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Thanks for the explanation!
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EtherDelta is a Goldmine https://steemit.com/gifto/@fifelue/tips-be-a-millionaire-using-arbitrage
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The one thing you didn't consider is that Poloniex trades in USDT which is a cryptocurrency PEGGED to the US dollar. It doesn't always trade 1:1. Bitfinex on the other hand might have some good opportunities to do arbitrage v Coinbase but you need a LOT of capital to make any real profit, assuming you don't make any mistakes or the market doesn't suddenly drop while transferring BTC.
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I don't arbitrage if the price difference is less than $75 and that doesn't happen everyday...but when it does, i jump at the chance. I've made handsome profits using 10 BTC and rinse and repeating.
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I wrote an article that explains a simple way to arbitrage across cryptocurrency exchanges, and the math involved. Important to know what you are getting into so that you will not be trading at a loss. https://steemit.com/arbitrage/@kesor/the-math-behind-cross-exchange-arbitrage-trading
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Try KoinKnight for doing arbitrage. It has 4 types of arbitrage - direct, triangular, loop and intra-exchange. Visit https://www.koinknight.com
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