Yeah if not for the ban I would have try it though I still have challenges with crypto.com because I've not been able to verify my account and I'm also aware that even one is able to sign up and verify your account you'll be giving $50 for trading or so. Luno has a different price structure which get many disappointed when they move their funds to other Exchange platforms because of the wide margin .
Just like I said in my comment, you can try crypto.com. It will always pay you selling it on luno. But this may not work out if you are living in Nigeria. They have banned buying coins through cards. But there are still several means of buying coins on crypto.com. I hope you have heard of crypto.com?
yeah I know luno exchange platform usually have priced much higher than what other cryptocurrency exchange platforms do have no I never knew that this arbitrage crypto trading could work because most of this exchange platforms usually have almost the same price and even if they slightly differ in a matter of little time they correct it. I wish to know other Exchange platforms we can easily use for arbitrage trading.
It won't be useful buying from exchange platform that commands higher gas fee for transaction processing. It is useful when you buy and sell with less gas fee charges than paying in excess of gas fee when sending out. I don't really know how I'll make money out of this crypto arbitrage business. Can you break it down once more? thanks.
Yes, studying the exchange platforms inefficiencies, to ascertain how much they changes per coin, comparing to others which is better for transaction processing. I've learned something when it comes to calculating the gas fee for different wallet/exchange platforms, i came to know that others charge higher, so we should find the one more favourable to us.
It's a smart way of making money in the cryptocurrency space . More often, there price disparities , one can just take a advantage to make use of the golden opportunity very quickly . You have to be timely and get your calculation straight to avoid gas fees eating your profit. One just need to study the exchanges inefficiencies.
That's a good insight though....which means while doing so, we have to be very calculative and know exactly what we are doing without wasting time. I think you need to be a smart trader, that can spot it once and when spotted wouldn't waste much time but making the call once. I think I understand you well now. For that, you need to be a skillful trader. I guess!
I get your point but it's just a way of making quick profit by being smart. I did once and I have been waiting for another opportunity to strike again. It's nothing much , you just need to be timely and get your calculation right. I have seen it happen severally on the exchanges. Just taking advantage of the price variation on the exchanges
You are right but sometimes cryptocurrency arbitrage favours the small investors too. I have done it once and I made about $60 immediately. It's a transaction that you have to carry out very quickly. You need to get the calculations right and hit it once. If you are slow on it , gas fee will eat your profit
If you really go through the thread, I clearly stated that you can take advantage of the price inefficiencies, It does happen. If you do not calculate well, the gas fee will eat up your profit. You just need to be sure of what you are doing because it's a transaction that you will do quickly. I have done it once and it worked
