A new day dawns upon the cryptocurrency markets, which also means there are new arbitrage opportunities waiting to be explored. As is usually the case, YoBit will play an integral part in these trades, as it remains the “outlier” for altcoin prices. The following six opportunities can result in some decent profits in exchange for very little effort.
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Ethereum Classic (Koineks / Binance / KuCoin)
A lot of altcoin trading platforms have a lower price for Ethereum Classic when compared to YoBit. That list includes Koineks, Binance, KuCoin, Poloniex, and Gate.io. Depending on where one buys ETC from and the overall liquidity on YoBit, profits can be as high as 2% for exploiting price gaps.
ZCash (CEX / Bitfinex / HitBTC)
A similar opportunity has arisen for ZCash, primarily because there are some interesting price gaps where the same exchanges are concerned. For ZEC, buying on Sistemkoin, CEX, Poloniex, and Gate.io will yield the highest profits after selling on YoBit. Bitfinex and HitBTC are also suitable for buying, albeit their prices are slightly higher.
EOS (Poloniex / Bitfinex / Binance)
For those who seek arbitrage trading profits involving EOS, there are numerous platforms to buy from. Poloniex, Gate.io, Bitfinex, Binance, KuCoin, and HitBTC all have much lower prices compared to YoBit. Profits will range from 1% to 1.25%. It is not the biggest market opportunity whatsoever, but any profit is better than a loss.
Dogecoin (Koineks / Poloniex / Livecoin)
Unlike the previous currencies, Dogecoin is subject to arbitrage trading on a platform besides YoBit as well. Its price on Livecoin is higher when buying DOGE on either Gate.io or HitBTC, with profits going as high as 1.25%. Buying on either exchange and selling on YoBit will result in a 2.5% profit, which could make for the better option.
Bitcoin Cash (Kraken / VeBitcoin / Bitstamp)
The most recent price surge of Bitcoin Cash has shaken up all markets in a significant manner. It also means prices are not exactly the same across all platforms whatsoever. Kraken has a lower price than OKEx, Gate.io, and YoBit, with profits going as high as 1.9%. Bitstamp, Vebitcoin, CEX, and Bitfinex all have lower prices than YoBit as well.
Ethereum (Livecoin / Kucoin / Poloniex)
Selling Ethereum on YoBit will lead to easy profits when buying on virtually every platform. Livecoin, Kraken, OKEx, Koineks, Bittrex, and many others all have a far lower ETH price as of right now. Some pairs will offer arbitrage gains of up to 2.5%, although the average sits closer to the 1.6% mark.
All information is provided courtesy of 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.
Image(s): Shutterstock.com
