Re: Butter Bot!: Premier Bitstamp, and BTC-E EMA Trading Platform
Hi im looking for an arbitrage bot that will buy bitcoins on bitstamp and sell them on a different exchange with an api. Im a total noob so I dont know where to look or how to code. Are there any options currently available?
Hey Lay
,(Love the name BTW
) Arbitrage bots are almost impossible to build for the dominant BTC exchanges because very few of them, if any, support automated Fiat withdrawals. Also, if such a bot were possible to be built, which is not really possible, selling them would be pretty futile as each new entrant would greatly diminish returns for the rest of the community.I hope that makes sense, please let me know if I can help in any way
.Pablo.
What I need it to do is:
1) list bitcoins on exchange "A" for 2% more than bitstamp (in foreign currency).
2) when coins sell on exchange "A" - buy that amount of coins on bitstamp.
Thats it.
No transfers or withdrawals necessary at all.
Ive found threads online where lots of people are looking for such bots, so there definitely is a demand on the market for such a bot.
Example:
1) the bot sells 1 bitcoin for 350* UK pounds ($611 usd) on a local site through their api.
2) As soon as an amount is sold the bot then buys that amount of bitcoin for $600(market price) on bitstamp.
*the bot uses bitstamp price to keep the price constantly updated.