Re: [ANNOUNCE] Elqnt | Arbitrage - A Bitcoin + Cryptocurrency Arbitrage Platform.
The idea is really nice, however, correct me if I'm wrong, to use arbitrage opportunity you need to move FIAT money too. How are you going to handle this? Does every user need to get money and sent it to another exchange? I don't like the idea to have to wait a week to get fiat and then another week to have it on another exchange to be able to do arbitrage.
Thanks!
Simply put, that's correct. Issues like the one you've stated largely comes down to what your individual strategy for arbitrage will be. In your scenario it makes sense (and on the broader scale also) to keep funds available at various exchanges so that you can take advantage of arbitrage possibilities -- of which our platform would watch for and capture.
In the early stages we're focused on creating a unified and simple way to watch for and conduct arbitrage against various exchanges. As things get spun up, we have a number of possible ways to develop out additional functionality that can potentially better address concerns like yours, but to start, we've got a laser focus on making a simple, unified arbitrage platform -- early feedback from the community will be crucial as to what functionality we focus on developing after that point -- all the more reason to jump in on the indiegogo campaign and be part of the Round 1 Alpha
