Making money in the cryptocurrency world requires an open-minded approach first and foremost. Numerous opportunities exist to score profits along the way, and the small price gaps should not be passed up on whatsoever. Arbitrage opportunities, for example, often revolve around exploiting minor price differences for profit. This also makes it a more appealing aspect in general, as these price gaps will always be present.
Monero (Bittrex / Bitfinex / LiveCoin)
A few interesting Monero arbitrage opportunities have popped up over the past few hours. Buying XMR on Bittrex, Bitfinex, or Kraken let users sell it on HitBTC for profits of up to 4.5%. There is also the option of buying Monero on the Kraken exchange and selling it on Livecoin for a 1.9% profit. All options are worth looking into, as arbitrage gaps of over 2% are not that easy to come by during a bearish trend.
ZCash (Cex / Bittrex/ HitBTC)
Similar to yesterday’s arbitrage opportunities, HitBTC will once again be the exchange to keep an eye on. Its prices are significantly lower compared to Cex, Bittrex, and Bitfinex. The current gap sits at an average of 3.8%, although it can jump to 4% depending on when one explores this price gap accordingly. It is the second day in a row this price gap is so large between these same exchanges, which further confirms not too many are exploring the opportunity right now.
Bitcoin Gold (Cex / Bitfinex / HitBTC)
For those traders who enjoy buying and selling Bitcoin Gold for decent profits, there is a new opportunity to look out for. Buying BTG on either Cex or Bitfinex and selling it on the HitBTC trading platform can net easy profits of up to 3%. This is a bit lower compared to the Monero and ZCash opportunities, although when combining all three options, an easy 10% profit can be scored throughout the course of the day.
Dash (Kraken / Poloniex / Livecoin)
It doesn’t happen all that often Poloniex is involved in arbitrage opportunities as an exchange to buy a specific currency from. In today’s case, Poloniex maintains a lower Dash price, alongside Kraken and Gate.io. This allows users to sell Dash on Livecoin for profits of up to 2%. There is also an option to buy on Kraken and sell it on HitBTC for a 5% profit, albeit that gap will probably close rather quickly.
Tron (Koineks / Binance / HitBTC)
A lot of good money can be earned today when flipping coins on the HitBTC trading platform. Buying TRX on either Koineks, Bitfinex, Binance, or KuCoin will let users sell the funds on HitBTC for profits of up to 3.9%. The average arbitrage gap is closer to the 3% mark, which is still more than appealing under the current market circumstances.
Dogecoin (Koinim / Koineks / HitBTC)
The final arbitrage opportunity for today also involves using the HitBTC exchange, albeit that won’t come as much of a surprise these days. Those traders looking to flip Dogecoin for a profit may want to buy on Koinim or Koineks and sell DOGE on HitBTC for a profit of 2.6%. It is another appealing arbitrage opportunity, especially when considering how the average gain is usually closer to the 1% mark.
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.