As another day dawns upon the altcoin markets, new arbitrage opportunities become apparent. There are many different ways of trading altcoins for profit even if their individual prices may not necessarily look all that appealing. The following six coins offer some easy profits, although it mainly depends on liquidity associated with the exchanges involved.
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EOS (KuCoin / Bitfinex / YoBit)
There are several arbitrage opportunities when it comes to EOS, though they also involve different exchanges. One option is to buy on Paribu and sell on HitBTC for a 0.8% profit. Another option is to buy either on KuCoin, Gate, Paribu, Bitfinex, or Binance and selling on YoBit. The latter option offers rewards of up to 1.9%, which is a bit more appealing compared to the alternative.
ZCash (Poloniex / Bittrex / YoBit)
It is evident ZCash will be subject to some small arbitrage trading gaps for some time to come. The altcoin is found on many exchanges, though prices tend to differ slightly. Buying ZEC on Poloniex, Gate, CEX, Bittrex, Bitfinex, or HitBTC and selling on YoBit will yield profits of up to 24%. All of these opportunities are incredibly profitable first and foremost, especially given how nearly no real effort is involved.
Monero (Kraken / HitBTC / Poloniex)
Not too many altcoin arbitrage opportunities only involve some of the bigger exchanges on the market. For those looking to flip XMR, buying on Kraken and selling on HitBTC, Poloniex, or Gate will yield some pretty good profits overall. Gains of up to 1.1% are certainly possible, especially because these platforms should all offer decent liquidity first and foremost.
Ethereum Classic (Koineks / KuCoin / YoBit)
For the umpteenth day, YoBit maintains a higher price for Ethereum Classic compared to virtually all other exchanges. Buying on Koineks, Binance, KuCoin, and Poloniex will always reward traders with some quick profits of up to 2.5%. It is unclear how long this gap will remain in place, though,
XLM (Kraken / Binance/ KuCoin)
A few interesting arbitrage options exist where Stellar’s XLM is concerned. Buying on Kraken and selling on HitBTC or Gate will yield profits of roughly 1%. Buying on Sistemkoin, CEX, or Kraken and selling on Binance, Gate, or KuCoin will yield profits of 0.9%. Many different options to choose from, although the gains are not necessarily as appealing as on other days.
XRP (Kraken / HitBTC / OKEx)
The most trading opportunities pertain to XRP at this time. Buying on Kraken and selling on HitBTC, OKEx, or Poloniex can yield a 1% profit. Buying on Vebitcoin and selling on these exchanges or Binance will yield profits of 0.9%. Buying on Bitstamp to sell on OKEx or Poloniex yields 0.95%. Purchasing XRP from Vebitocin and selling on Bittrex or Bitfinex results in a 0.8% profit.
Information provided by Arbing Tool.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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