So I decided last week and have found it to be a case "works on Paper"
I noticed an exchange with a BCH/USDT 50% higher than coinbase's price for BCH so eyes watering bought some as a test. It was just 50 to see if it worked. It did not. The problem was the other exchanges BCH wallet was down so i couldn't deposit it in.
Not to be discouraged I have been looking at other arbitrage sites and opportunities and always have the same issue. Basically the wallet of the currency I want to trade in is down This was for EOS BAT and even LTC.
Is arbitrage possible or is it a case of if it seems too good to be true .....
I noticed an exchange with a BCH/USDT 50% higher than coinbase's price for BCH so eyes watering bought some as a test. It was just 50 to see if it worked. It did not. The problem was the other exchanges BCH wallet was down so i couldn't deposit it in.
Not to be discouraged I have been looking at other arbitrage sites and opportunities and always have the same issue. Basically the wallet of the currency I want to trade in is down This was for EOS BAT and even LTC.
Is arbitrage possible or is it a case of if it seems too good to be true .....
Arbitrage does work. When I had initially learnt arbitrage I was highly frustrated as there are many things involved while you try to perform arbitrage, it is not only the price difference the liquidity at the exchanges also matters a lot. After spending months on this now I can strongly say that arbitrage does work. I found a guy on linked-in who is expert in arbitrage and he has created bots for triangular arbitrage and few more., I just learnt from him and even I have learnt it upto a level that I book a sound profit.
It is the study and the effort that you put into any topic will help you. Its not that the strategy does not work and there are sites where almost all coin of multiple exchanges are available in same dashboard( I explored this recently)
Keep learning you will get trick behind arbitrage.