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withdraw what?? crypto?? There's no profit to doing that?
have to buy at a foreign exchange and sell at a Korean exchange to make a profit... Do You know the definition of crypto arbitrage, right??
Then if you find a partner, how do you give money to your partner if making a withdrawal doesn't bring a profit?have to buy at a foreign exchange and sell at a Korean exchange to make a profit... Do You know the definition of crypto arbitrage, right??
I can trade on the Korean exchange, so I sell crypto on Korean exchange and then exchange the money into dollars and send it to my partner's bank account. Do you understand?One of my high school friends say he is in the US, so I'll have to contact him. Thanks for the comment
Why bank account when you can simply send USDT? The whole thing sounds more and more complicated as you picture it.
NOW, USDT cannot be deposited or withdrawn on Korean exchanges.
Now don't doubt any more. I knew my high school friend live in US . Thank you. Passport and account verification is also possible.
And while I was searching the site to find someone to exchange cryptocurrency, I joined because foreigners said that they used it a lot. Nice to meet you anyway!!
That's good, but please also note that not everyone has a passport for all Korean exchanges, because the average Korean exchange is always required to do KYC via passport first so that it can be used optimally, so this is what sometimes makes it difficult for some people to using korean exchange.And while I was searching the site to find someone to exchange cryptocurrency, I joined because foreigners said that they used it a lot. Nice to meet you anyway!!
you are right. I have kyc certification on the Korean exchange, so I'm looking for someone to do crypto arbitrage with me. But I just joined this community, so I can't gain trust from other users.
withdraw what?? crypto?? There's no profit to doing that?
have to buy at a foreign exchange and sell at a Korean exchange to make a profit... Do You know the definition of crypto arbitrage, right??
Then if you find a partner, how do you give money to your partner if making a withdrawal doesn't bring a profit?have to buy at a foreign exchange and sell at a Korean exchange to make a profit... Do You know the definition of crypto arbitrage, right??
I can trade on the Korean exchange, so I sell crypto on Korean exchange and then exchange the money into dollars and send it to my partner's bank account. Do you understand?One of my high school friends said he was in the US, so I'll have to contact him. Thanks for the comment
If you have your own capital, then why don't you just arbitrage yourself? registering on a global exchange is not difficult, why do you need other people's help?
That's a good question!!
Of course, I also tried to buy cryptocurrency from overseas websites (Coinbase, etc.). It is convenient for me to do it myself too.
However, it was said that Korean residents could not make purchases.
That's why I found some friends to do crypto arbitrage with. This is because Coinbase allows only the exchange of cryptocurrencies that I have, and does not provide any other purchase or deposit and withdrawal services.
Re: PRINT THE MONEY(crypto arbitrage, kimchi premium is over 17% now!!)
A newbie account on this forum offering these kind of deals is not very trust worthy
Maybe you can work with an escrow member here.
Maybe you can work with an escrow member here.
Thank you. How much is the escrow fee?
We all know that. But what we are discussing here is not that, you want money from me for you to use arbitrage and how can I trust you (not an exchange) that you will not run away money?
If in doubt, I can send money first. When I send money, all you have to do is buy the cryptocurrency(Omit if there is cryptocurrency in possession ) and send it to me.
But in this case I'll have most of the profits and I'll pay you a 1% commission ( because you don't even provide capital, have to pay any currency exchange fees, withdrawal fees or transaction fees)
I'm just looking for trusted friends in this community to do crypto arbitrage together. Thanks
That's a good question!!
Of course, I also tried to buy cryptocurrency from overseas websites (Coinbase, etc.). It is convenient for me to do it myself too.
However, it was said that Korean residents could not make purchases.
That's why I found some friends to do crypto arbitrage with. this could really turned scam. we know the word trustless means that we don't need to learn who the person behind the other end and he still gets the coins. but this time this is going to be no trust. there is no way someone is going to send $9000 to a stranger that can just say he dropped dead after receiving the money.
arbitraging is good. so why don't you just buy XRP from another exchange and sell it to the Korean exchange? not matter how small your funds its still la gain for you since the transaction fee of XRP is way small.
I will send money if you verify your identity... and foreigners cannot withdraw the money from the Korean exchange after trading cryptocurrency.
Here’s why it is not possible to sell #cryptocurrency in Korea for arbitrage.
1. Foreigners are banned from trading crypto.
2. Korean mobile phone needed. Can’t obtain without long-term visa. (not even prepaid)
3. Extremely difficult to obtain bank accounts, even for citizens.
Sounds attractive, but as it was already said by khiholangkang how can you prove you're all straight? Someone who has just registered and local time in his profile isn't Korean? I doubt you'd agree to disclose your personal details to a person that would be willing to try this.
I understand. So I said that it was no problem for me to send money. (but my partner should also verify the identity to me).
In South Korea, and on local exchanges, traders need three important components to trade fiat-to-cryptocurrency. A mobile phone, a bank account, and verification. Foreign traders that have claimed they have been able to open accounts on Bithumb are either not verified or not allowed to process fiat-to-cryptocurrency trades, because in order to do so, a South Korean bank account is necessary.
So In order to conduct crypto arbitrage on Korean exchanges, an approved Korean resident is required.
I have already been approved by the Korean Exchange and now I just want to make a profit on the chance that the kimchi premium has risen to 18%.
Thank you.
If in doubt, I can send money first. When I send money, all you have to do is buy the cryptocurrency and send it to me.
But in this case I'll have most of the profits and I'll pay you a 1% commission (you don't even provide capital, because you don't have to pay any currency exchange fees, withdrawal fees or transaction fees)
I'm just looking for trusted friends in this community to do crypto arbitrage together. Thanks
If you are a greed person jump on this and that is the end of your $9k, this is not the first time scam will polish itself this way, why is he/she not talking advantage of these arbitrage opportunity, if it is possible to make that much he will jump on it. I hope people are not being to greedy this time around, if you want to take the opportunity please make use of Escrow
In South Korea, and on local exchanges, traders need three important components to trade fiat-to-cryptocurrency. A mobile phone, a bank account, and verification. Foreign traders that have claimed they have been able to open accounts on Bithumb are either not verified or not allowed to process fiat-to-cryptocurrency trades, because in order to do so, a South Korean bank account is necessary.
So In order to conduct crypto arbitrage on Korean exchanges, an approved Korean resident is required.
I have already been approved by the Korean Exchange and now I just want to make a profit on the chance that the kimchi premium has risen to 18%.
Thank you.
I live in Korea and I will exchange cryptocurrency.
With one transaction, you can get 17~18% profit based on current time ripple (excluding fees).
If you buy $9000 of Ripple right now, send it to me, and I sell it, you can get a profit of $1600-1700 in a short time.
If you repeat this for 30 days with 9000 dollars, 9000 dollars becomes more than 48000 dollars??
(Although there is a condition that the price difference of cryptocurrency between Korean exchanges and exchanges in other countries must be maintained)
I will only take 5% of this profit (transaction fee, remittance fee, withdrawal fee).
What's good for the goose is for the gander.
If you are interested, leave a comment.
PS. Daily limit-9000$
Remittance days-about 2 to 5 days (excluding holidays in countries related to remittance)
With one transaction, you can get 17~18% profit based on current time ripple (excluding fees).
If you buy $9000 of Ripple right now, send it to me, and I sell it, you can get a profit of $1600-1700 in a short time.
If you repeat this for 30 days with 9000 dollars, 9000 dollars becomes more than 48000 dollars??
(Although there is a condition that the price difference of cryptocurrency between Korean exchanges and exchanges in other countries must be maintained)
I will only take 5% of this profit (transaction fee, remittance fee, withdrawal fee).
What's good for the goose is for the gander.
If you are interested, leave a comment.
PS. Daily limit-9000$
Remittance days-about 2 to 5 days (excluding holidays in countries related to remittance)