Cryptocurrency trading has indeed evolved this past decade – from being a space where looking for fellow traders was highly dependent on chat forums to becoming one of the most ubiquitous activities in finance as adoption frequently tends towards new horizons. As a result, there are numerous exchanges around the world – based on region, competitive service offerings, and possible ease-of-use.
One thing to note is that these cryptocurrency exchanges are almost always asynchronous in their price data as the oracles that feed these them the data lag and oftentimes deviate from ‘global standards’ and exchanges aren’t always quick to react to these changes. This gives rise to arbitrage trading opportunities where traders can buy and sell assets from one exchange to another leveraging the price differences to make a profit. Sometimes, these trades are risky as the profits are negligible and could result in net losses for traders. At other times, it could be that big break the trader has been waiting for.
Here comes Bitbengrab, the seamless arbitrage trading platform
The UK-based Bitbengrab company has a team that comprises of expert traders and programmers with decades of experience on their side. They have designed the trading platform to become the go-to service point for traders seeking to take advantage of price differences that occur on dozens of cryptocurrency exchanges with just a few clicks. This absolves the trader of the daunting task of navigating through multiple exchanges to manually monitor these arbitrage opportunities.
How does it work?
Basically, Bitbengrab uses libraries to connect to multiple exchanges and fetch price data and order books at intervals, and after collecting the data tries to find price differences between multiple market pairs and exchanges. Once this is done, in a few easy steps, the trader is presented a wide range of arbitrage opportunities and can decide to either trade them manually or automatically with the trader’s exchange API connected.
Currently, Bitbengrab supports 29 exchanges with plans to add more in the future. The platform requires its users to have an account on the respective exchanges where these trades will be carried out, and enough balances to execute the trade should the trader decide to go with the API option. Once the exchange API has been linked to Bitbengrab, all the user needs to do is set permission for balance and trade as the platform doesn’t require permission for withdrawal or deposits – hence, funds are safe.
To Bitbengrab, true arbitrage trading means risk-free trading and therefore focuses on the trader to ensure that all possible scenarios to maximize profit are presented.
How to begin using Bitbengrab
First, users have to sign up with Bitbengrab, and by making payments through the CoinPayment gateway, they can subscribe to any of the following access plans:
- 0.03 BTC for 1 month
- 0.0285 BTC for 3 months (with 5% discount)
- 0.027 BTC 6 months (with 10% discount)
- 0.024 BTC for a whole year (with 20% discount)
Secondly, traders need to connect their exchange API(s) to the platform, and then view and manage all the opportunities available right from the Bitbengrab dashboard.
Another important feature of the platform is that it’s so easy to use and can serve new and inexperienced, and savvy traders alike. A video guide has been provided to aid with the setup and begin trading in a few minutes.