So I live in the U.S and I have family in Korea. Obviously there is a great opportunity for arbitrage but was wondering if there were any downsides to it. I would buy bch/btc/eth here then send it to my cousin in Korea and she sells right away for 50-60 percent more. Is there anything wrong with this plan??
It's a good plan but the issue will be with fiat transfers. Banks would be alerted then if they detect an account having large amount getting in and out of the accounts. If the plan though would not involve any fiat transfer like you send an eth there and he would sell it for any other coin other than fiat then it would be a good plan. The only issue in here is when you convert your gains to fiat because banks are very particular now about cryptocurrency transactions and you should take into account too the fees involved if it is worth it.