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Breakdown of the latest report by world economic forum #wef 1Trillion in trade value. #Distributedledgertechnologies #blockchain #supplychain #AI #iot #smartcontracts #tokens #Tokenization #trade #globaltrade #coinweez https://www.instagram.com/p/Bn08aRcAh4z/?utm_source=ig_tumblr_share&igshid=1cofe0s1zhfk2
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Cryptocurrency Arbitrage: All You Need to Know. Part 1
What is cryptocurrency arbitrage?
Arbitrage can be defined as buying of one asset on a different market and selling it in another market for a higher price. In cryptocurrency arbitrage, you can search and compare the price of coins in different exchanges. You then buy from the cheaper exchange and sell in the exchange where the price is higher. You will then have the price difference as your profit.
Arbitrage has been in existence in foreign exchange markets for long but has been out of reach due to massive developments in quantitative systems. Cryptocurrency arbitrage is, however, possible due to the rapid surges in trading volumes and inefficiencies in exchanges which cause differences in price.
In most chances, big exchanges that have high trading traffic direct the price of coins in smaller exchanges with fewer trade volumes. However, there are always changes that the prices are different on the exchanges. This is where cryptocurrency arbitrage is possible.
How cryptocurrency arbitrage is performed
For starters in cryptocurrency arbitrage, the most common and easy way to approach it is through manual monitoring. Take a look at the prices of your preferred cryptocurrencies, monitor their prices on different exchanges, place your trades then transfer the funds accordingly.
There are also cryptocurrency arbitrage bots that have been created to monitor the prices movements and differences of coins in the market. Additionally, mobile trading apps can also help in the monitoring process to help you keep note of any changes that can help you make a profit.
Types of cryptocurrency arbitrage
Pricing
The prices of coins are different on different exchanges. Coinlib has a service specifically designed for arbitrage called best price explorer. Here, there is a list of all exchanges for a specific market with a rank from the most expensive to the least expensive. Through best price explorer, you can decide if you will explore cryptocurrency arbitrage depending on your chances for profit.
In order to explore price arbitrage, you should consider
Fees for trading a coin
Fees for depositing or withdrawing a coin
Blockchain network fees
Time taken to move a coin from one exchange to another
If all these options show that you can earn a profit with arbitrage, then you can go ahead and make the trade. Remember that arbitrage highly depends on time hence it is not a permanent opportunity to make a profit. If a lot of time is required for your trade to be confirmed, the price might change affecting the risk.
Geography
The supply and demand of cryptocurrencies in a certain country might make their prices different from the rest of the world. For instance, last year saw the price of Bitcoin in Zimbabwe skyrocket as the supply and demand did not match. A lot of people preferred transacting in BTC due to the volatile nature of their local currency. Also, their wanted to store their money in Bitcoins as their currency was experiencing inflation.
This could be a huge chance for cryptocurrency arbitrage. Buying from an exchange in a different country and selling to people in countries where the price is very high can help you make a profit. You should, however, be cautious of any legal regulations against cryptocurrencies as well as withdrawal limitations that can affect your trade.
Listing
The demand for coins usually goes up once they get listed on exchanges. Moreso, when they get listed on large exchanges, they pose a high chance for cryptocurrency arbitrage that you can explore. For example, when a coin gets listed on an exchange like Binance, it experiences a growth in value and a lot of people want to buy it. Buying from other smaller exchanges and selling on Binance at the higher price is an example of cryptocurrency arbitrage.
Strategies
As a cryptocurrency arbitrage trader, there are different strategies you can use to make a profit. These include;
Convergence arbitrage
This strategy is similar to using pricing arbitrage. As a trader, you take advantage of differences in prices on exchanges by buying where a coin is undervalued and short-selling it in an exchange where it is overvalued. You make a profit from the amount of convergence when the two separate prices meet in the middle.
Simple arbitrage
This strategy involves just one coin. This is where you buy a coin and sell it immediately on a different exchange to make a profit.
Triangular arbitrage
You use this strategy by taking advantage of the price difference of a coin between three currencies. The price of BTC in USD can be different to EUR and YEN. So you can buy BTC in USD, and then sell the BTC to make EUR. You then exchange the EUR you have made back to USD. It is not as complicated as I have made it look. The three currencies are BTC, USD and EUR.
The following two articles will delve deeper into reasons and risks in cryptocurrency arbitrage and tips to remember before boarding the cryptocurrency arbitrage train. Check more about our services.
#Consensus Algorithms #Proof of Burn and Proof of Importance #Bitcointalk #Cryptocurrency Africa
Vitalik Buterin explains a hard spoon as a meta-protocol on top of a blockchain creating a token that inherits the original blockchain’s underlying token ...
top cryptocurrency blockchain blogs websites Africa the list has sites with pure focus on blockchain and cryptocurrency news in Africa
simple and well outlined review to understanding bitcointalk and posting ANN threads, signature campaigns and ICO marketing
#Bitcointalk, #Cryptocurrency Africa #Blockchain blogs
Bitcointalk was created in 2009 by Satoshi Nakamoto, as the first platform developed for discussions around the newly created Bitcoin at the time. Overtime, it has developed to become one of the leading crypto forums for things such as: posting crypto announcements, ICO marketing, getting buzz around your project and bounty campaign (getting people to win free tokens).
What it takes to conduct successful ICO marketing
Recent restrictions by Facebook, Twitter and Google on ICO marketing means that some people have got tired of constant advertising of projects that could be possible scams. Instead of spray and wait strategy, you will need to build a real and authentic community that will eventually become ambassadors of your project.
Top cryptocurrency, blockchain blogs and websites in Africa
The following list presents top 10 cryptocurrency and blockchain blogs in Africa. Â Measures used to rank the blogsites include social media followers and number of posts per month. Lots of these sites are point of reference for blockchain and cryptocurrency news. Example of information to find on these sites include including successful tips on local meet-ups, application of blockchain technology, ICO marketing in Africa and related information. However, our pick to this list we considered blogs which are purely dedicated to the blockchain and cryptocurrency content. Congratulations to those who made the top 10 crypto and blockchain blog list in Africa as of July 2018.
https://www.bitcoinzar.co.za/
About Blog: Informative blog for people living in South Africa interested in learning and trading bitcoin
Country: South Africa
Frequency of posts: 1 Post per month
Last Post Date: April 20th 2018
Facebook Likes: 77,985
Twitter Followers: 6265
https://bitcoinhub.co.za/
About Blog: Bitcoin and cryptocurrency news coverage, discussion, bitcoin businesses directory and any other related information.
Country: South Africa Frequency of posts: Â At least 6 posts weekly
Last Post Date: June 26th 2018
Facebook Likes: 2819
Twitter Followers: 974
https://bitcoinafrica.io/
Country:
About Blog: Reporting about blockchain and cryptocurrency news in Africa, buying and selling bitcoin information plus discussions.
Frequency of posts: About 12 posts per week
Last Post Date: June 29th 2018
Facebook Likes: 584
Twitter Followers: 7799
https://bitcoinke.io/
Country: Kenya
About Blog: A Blockchain and cryptocurrency news outlet focused on Kenya and the region.
Frequency of posts: About 7 posts per week
Last Post Date: June 28th 2018
Facebook Likes: 593
Twitter Followers: 1068
https://www.bitkonga.com/bitcoin-blog/
Country: Nigeria
About Blog: Trading bitcoin and news related to cryptocurrencies
Frequency of posts: At least 10 posts per week
Last Post Date: June 28th 2018
Facebook Likes: 486
Twitter Followers: 29
https://bitkoin.africa/
About Blog: A trading platform and cryptocurrency news blog
Country: Nigeria
Frequency of posts: About 2 posts per week
Last Post Date: June 28th 2018
Facebook Likes: 116
Twitter Followers: 838
http://bithub.co.ke/category/blog/
Country: Kenya
About Blog: Blockchain and cryptocurrency research and news covering Nairobi-Kenya and Africa.
Frequency of posts: About 2 posts per month
Last Post Date: May 3rd 2018
Facebook Likes: 4721
Twitter Followers: 2086
http://cryptoafrica.com/
Country:
About Blog: Information and buying of bitcoin in Africa and cryptocurrency promotion on the continent.
Frequency of posts: About 4 posts per month
Last Post Date: June 9th 2018
Facebook Likes: 354
Twitter Followers: 32
https://blog.coindirect.com/
Country:
About Blog: Buying and selling of bitcoin and other cryptocurrencies in Kenya
Frequency of posts: About 4 posts per week
Last Post Date: June 28th 2018
Facebook Likes: 2950
Twitter Followers: 2516