Arbitrage in cryptos is not profitable. The fees always negate any profits generated. Swing trading is a lot more sensible and very practicable for expert traders.
Sorry bro. But how can a 30% premium not be profitable? Someone from lets say Australia (10% premium) can send me unlimited amounts of money for very good exchange rates and small fees. How can this not be profitable. With xrp we are talking about 2 minutes transaction time. Trading involves risks. Arbitrage is much more safe volatilitywise. It has a expected value you can calculate. The only risk is the human. Like always
. You can not open accounts on korean exchanges and withdraw fiat. Only a Korean can. It is 100% legal for him to do this with you as long as he not sends more then 50k usd overseas per year. All you have to do is find a trustworthy Korean. And as Koreans are generally very well educated, behaved and crypto affine the chances are high of getting to know someone who is legit.Especially if he is vouched for. And just for the record. I`m doing it already with 5 people (2 are privat friends I personally know) and it is profitable. Of course I can not risk to roll too much money in one sending because of obv risk managment reason but overall it is very profitable equity wise.
well, if you can trade with koreans good for you, 30% net per trade is the bare minimum i would command for such a high risk activity
Your "buddy" can just run with your money, koreans banks can freeze his accounts, korean regulators can shut him down as it is illegal to move more than 50k out of the country per year, you can get hacked and finaly i bet you do your trades without hedging strategy and therefore are exposed to total loss if the market crashes
Koreans are cracking down big time on cryptos, so your business model s probably not sustainable
Now, regarding +10% australian markets; these prices differences are gone and are now more in the 5% and shrinking; any australian can hit gdax or kraken and get 10% cheaper coins. These guys speak english.
Then you need to take out the 2x the trading fees, exchange transfer fees, bank transfer fees, and eventually FX conversion rates and commissions + the time to complete the cycle; probably weeks.
Then depending where you live you run the risk to be shut down by your bank as well because of AML regulations, and could also raise interest of the tax and law enforcement authorities even if you're clean
Having this in mind, i could do it yes, but not for less than 30% net after all fees, which is impossible nowadays