Re: ARBITRAGE APP - OVER 9000 PAIRS ACROSS 37 MOST POPULAR EXCHANGES
Hey guys, could you please precisely explain the scheme when you are doing arbitrage with crypto/USD pairs? Do you exchange USD to eth, ltc (after selling), or other crypto and then send them back to the original exchange? This is the only moment I don't understand. I will appreciate any appropriate answers. Thank you!
Here is how it works:
Let's say you spotted an opportunity between BTC/USD on BTCC and EXMO
1. You'd buy BTC with USD on BTCC. for that you'd ether need to have an altcoin or fiat available for trading on your BTCC account.
2. If you already have funds available on your exmo account, than you'd simply perform a simultaneous action to sell the Bitcoin for USD. Alternatively, you'd move the bitcoin from BTCC over to EXMO... Should take about 15 - 20 minutes to have BTC available on exmo. Finally, you'd sell that BTC on EXMO and end up with USD
3. Now, you need to buy another altcoin on EXMO, buy it and move it back to BTCC or to your favorite exchange where you can make the fiat withdrawal.
4. The easiest way would be keeping fiat on both exchanges, and performing buy and sell action simultaneously.
I'm in process of building some features that will make this whole thing like a walk in the park
