Journey to 30 € day with arbitrage (no bot)

Discussion in 'My Journey Discussions' started by mebiame, Nov 8, 2018.

  1. mebiame

    mebiame Registered Member

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    Hello there guy
    Planning to invest 2 btc into crypto arbitrage
    -Method
    I have decided to work with binance exchange and bitfinex exchange
    Btc/eur
    Btc value on Binance: 5450 €
    Btc value on bitfinex: 5540 €
    I will deposit 1btc on binance and 1btc on bitfinex this way im avoiding the transaction fees and withdrawal time delay
    Now what i do is sell 1 btc for 5450 euro on binance and buy 5540 euro for 1 btc on bitfinex simultanously at the end of this transaction,i will have 10 990€ both account united
    Then repeat the same process buying btc with euro in one account and sell euro for btc in the other account
    Wish me good luck guys i think it will help me.
     
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    Last edited: Nov 8, 2018
  2. MrAnta997

    MrAnta997 Junior Member

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    Just Btc, or will you try alt coins as well??
    And ofc, wish you a good luck xD :D:D
     
  3. mebiame

    mebiame Registered Member

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    Will try others ,i dont have a fixed currency,im just exploiting the value difference of cryptos
     
  4. cjh

    cjh Junior Member

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    This actually works? Figured fees would always eat up any potential for arbitrage.

    Guess it'd be easy to test it out in theory for a couple days without actually spending a cent.
     
  5. mebiame

    mebiame Registered Member

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    Yeah this is a smart arbitrage ,im not exchanging on different exchangers so why the fees with eat all my profit and im not planning to withdraw it now i dont need to