Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: Roger123 on August 16, 2021, 11:48:07 AM
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Recently, the price of Bitcoin has fluctuated sharply, and arbitrage windows have appeared on many exchanges. The price of Bitcoin on Binance is US$47,000, while on some exchanges in South Korea, the price of Bitcoin is US$51,000. If you buy in Binance and then sell in South Korea, you can make a profit of $4,000. I am considering doing this. I want to hear your opinion.
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wow i can't believe that bitcoin's price in korea is almost 10% higher than the binance. if that's the case that would be a good strategy but i don't think the other way around from outside korea can do trading there and that would be a good opportunity for you considering at least 8 percent profit including the trading fee on both platform.
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That's what arbitrage means. There are even bots that do something like that for you.
Search google for explanation, it's worth it .
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wow i can't believe that bitcoin's price in korea is almost 10% higher than the binance. if that's the case that would be a good strategy but i don't think the other way around from outside korea can do trading there and that would be a good opportunity for you considering at least 8 percent profit including the trading fee on both platform.
Such a difference in price is possible only if Deposit and Withdraw are not available on the Korean exchange. In other cases, bots will quickly even out the difference between exchanges.
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Arbitrage will be worthy if we know the right time to buy and sell the coins in certain exchanges. Additionally, it will also depend on the fee of the withdrawal, time allocation to do the transaction, and also the fluency of the transaction itself.
If we can do it faster, we may really utilize the chance to get many profits.
But, once more. AAs far as I know, Korean exchange is only for the citizen who does KYC with their ID card. I have ever done it and I failed in doing it. So, I cannot trade there. That is why I prefer to choose other exchanges.
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Recently, the price of Bitcoin has fluctuated sharply, and arbitrage windows have appeared on many exchanges. The price of Bitcoin on Binance is US$47,000, while on some exchanges in South Korea, the price of Bitcoin is US$51,000. If you buy in Binance and then sell in South Korea, you can make a profit of $4,000. I am considering doing this. I want to hear your opinion.
I think the basic factor to invest, As you said buy low and sell when high.
If you want to do it, learning the coin, character, news etc.
Also learn fundamental and technical analysis.
You will be good Investor and trader.