Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Zed0X on May 07, 2021, 07:10:15 AM
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Be careful playing the arbitrage game on centralized exchanges or risk getting locked out.
Example:
I don't know if you've noticed but ETC (Ethereum Classic) had a pump recently and it's currently trading above $130 except on one exchange (Poloniex).
(https://i.ibb.co/hYWTzX9/Untitled.png)
You might be tempted to buy there and take advantage of the huge price difference but don't be too quick and act carelessly. You should understand why that's the case first. According to the conversation in their trollbox, Poloniex had disabled the withdrawal of ETC in the last 3 months which forced traders to just sell them for other cryptocurrencies.
(https://i.ibb.co/y5WkS4W/Untitled.png)
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Arbitration is generally a separate topic for making money and it is not always possible to earn money there, you need to monitor these courses almost every minute to earn at least some penny, and it takes a lot of time, perhaps I certainly do not fully understand the value of earning arbitration.
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arbitration is not a grateful business and most often it is impossible to earn anything, for example, I recently wanted to buy one coin, and by a lucky chance it turned out that the coin on another exchange is traded much higher, I bought it without second thoughts and transferred it to the exchange, where the coin is more expensive, as a result, the transfer was confirmed for about 9 hours , and during this time the coin fell to a price lower than I bought,that's the story... :(