Hey there,
is it possible to buy BTC cheaply at one exchange and sell it more expensive at another one? It seems to me that it might be actually possible.
What are challenges? Are people doing this?
Thank you!
This method is called arbitraging and many people like me, are using this method to get a certain amount of profit. To do this, you need to first scale the markets. You need to scale down to 4-5 exchanges where you can constantly see the price difference. Then you will have to deposit some amounts in bitcoin as well as in USD in all those exchanges.
Now, once you have the investment deposited, start scaling for opportunities. Once you see a good price difference, buy and sell simultaneously from both the exchanges. The only matter is that, you need to have a good amount of initial investment to start arbitraging,