2018-11-19 05:09 |
Not a day goes by in the cryptocurrency world without going through some form of arbitrage opportunities. In the case of altcoins, there is a lot of decent money to be made, primarily because so many markets have wide spreads between the currencies themselves. It should be easy to score some profit when exploring these opportunities, assuming one can benefit from some decent liquidity.
Monero (Kraken / HitBTC / Poloniex)As is usually the case where Monero arbitrage opportunities are concerned, the price on Kraken is significantly lower compared to all other platforms. For today, buying Kraken and selling XMR on HitBTC, Poloniex, or Gate.io should yield profits of roughly 1.5%. A bit of easy money for doing virtually nothing, which is something everyone can get behind.
Bitcoin Gold (HitBTC / Gate / Bitfinex)It would appear a Bitcoin Gold arbitrage opportunity has become apparent nearly every single day of the week. Why this market is fluctuating so badly all across exchanges is difficult to gauge, although it seems things will not necessarily change in this department. Buying BTG on Sistemkoin, HitBTC, Bitfinex, CEX, or Koineks and selling on Gate will yield profits of roughly 6%.
DASH (Kraken / Poloniex / LiveCoin)For altcoins focusing on privacy and anonymity, it seems the arbitrage opportunities are piling up lately. Buying Dash on Kraken or HitBTC and selling on Poloniex, Gate, or Livecoin should yield easy profits. Buying on Vebitcoin, CEX, and Bittrex is also possible, albeit it will yield roughly half of the profit. Either option is still worth checking out under the current circumstances, though.
Dogecoin (Koineks / Poloniex / Livecoin)Dogecoin is one of the more liquid altcoins on the market today. It has tremendous network activity, and its value is more than respectable. As such, it can be bought on Koineks, HitBTC, Poloniex, and Gate prior to selling it on LiveCoin for a quick 2.4% profit. Another easy arbitrage opportunity for speculators and traders who want to chase some quick profits.
Ethereum (Kraken / KuCoin / Bitstamp)The ongoing battering of Ethereum’s price has created artificial gaps between different exchanges and platforms. In today’s arbitrage opportunity, buying on Kraken or Bitstamp and selling on Gate, Livecoin, KuCoin, OKEx, Poloniex, Binance, or HitBTC will yield a profit of nearly 1.5%. It makes for some positive news in an otherwise tremendously bleak year for Ethereum, at least in the price department.
BCHABC (Vebitcoin / Binance / KuCoin)As was to be expected following Bitcoin Cash’s network upgrade, there will be arbitrage opportunities for the tokens involving in the process. Buying BCHABC on Vebitcoin and selling on either KuCoin or Binance will yield profits of roughly 2%. Binance has more liquidity compared to KuCoin, though, but it will also see the gap tighten quicker. Even so, an appealing venture for those who want to make some extra money.
Information provided by Arbing Tool.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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