In the world of cryptocurrency, altcoins create some very interesting opportunities for arbitrage trading. Today is no different in this regard, although the opportunities will usually involve using the YoBit exchange first and foremost. That in itself is not necessarily a drawback , but it can be considered somewhat of a hindrance.
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ZCash (Sistemkoin / Poloniex / YoBit)
To kick off today’s arbitrage opportunities, it would appear there are numerous options to buy and sell ZCash for quick profits. Buying on Sistemkoin and selling on HitBTC, Poloniex, or YoBit can yield pretty nice profits. There is also an option to buy on Bitfinex, HitBTc, and Gato to sell on YoBit. Profits of up to 2% can be achieved, albeit the average is closer to 1%.
Ethereum Classic (Poloniex / Livecoin / Koineks)
There are some significant Ethereum Classic price discrepancies when looking at Ethereum Classic across the exchanges. More specifically, the price on Koineks is lower than Poloniex, YoBit, and LiveCoin. Buying on Poloniex, Gate, Binance, and KuCoin is also far cheaper than YoBit. Profits of up to 3% can be achieved with relative ease.
XEM (Koineks / YoBit / LiveCoin)
There are numerous opportunities to buy and sell XEM on YoBit for a massive profit. More specifically, its price is 12% higher compared to Koineks and 9% higher compared to LiveCoin. This makes for a very interesting opportunity moving forward, although it is evident these gaps will not remain in place for long as more users take advantage of this opportunity.
TRX (KuCoin / OKEx / YoBit)
There are a few intriguing opportunities for TRX trading, although buying on YoBit is the only option to score some profits moving forward. Buying on KuCoin, HitbTC, OKEx, or Gate and selling on YoBit will allow for easy gains of 1.5% to 2%. Buying on Bitfinex and Binance are also two viable options moving forward, for those who prefer those options.
Dogecoin (Gate / HitBTC / YoBit)
For Dogecoin enthusiast, there is such money much wow to be made when selling on YoBit. Buying Dogecoin on Gate, LiveCoin, Sistemkoin, Koineks, HitBTC, and Poloniex allows for profits up to 3.7% with relatively little effort. It is a pretty interesting market first and foremost, especially given how other markets are performing at this time.
Bitcoin Cash (Livecoin / Kraken / KuCoin)
For Bitcoin Cash speculators are arbitrage traders, selling on YoBit will be the best option when buying on Gate, LiveCoin, Kraken, KuCoin, HitBTC, or OKEx. Buying on Kraken and selling on LiveCoin is also an option. Profits will range anywhere from 0.7% to 4%, which makes BCH one of the more appealing altcoins to keep an eye on.
Information is 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.
Image(s): Shutterstock.com
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