Easy Altcoin Arbitrage Profits With IOTA, XMR, ETC, BTG, LTC, TRX
During the weekends, there are a few different money making opportunities where cryptocurrencies are concerned. It has become more than apparent the fight to make money is still in full effect. With arbitrage trading, the following six options present some very appealing options at this time. No stone should be left unturned when there are profits to be scored by trading cryptocurrencies.
IOTA (Gate / Binance)
For the second day in a row, an IOTA-oriented arbitrage opportunity presents itself. That is rather unusual in this day and age, as IOTA is usually valued the exact same across many different trading platforms. For those willing to score a quick buck, buying MIOTA on Gate and selling it on Binance can yield a 1.65% profit. It is not the biggest direct arbitrage gap in history, but still a worthwhile option to explore regardless.
Monero (Poloniex / Gate / Bitfinex)
A few different arbitrage opportunities present themselves where Monero is concerned right now. Buying on Poloniex, Gate, Bittrex, or HitBTC and selling on Gobaba will yield an average profit of 1.1% per trade. The more lucrative option is to buy on Livecoin or Bittrex and sell XMR on Bitfinex, which can yield a profit ranging from 2.41% up to 4%. A very impressive opportunity, although Monero is not the most liquid altcoin market.
Ethereum Classic )Binance / KuCoin / Gobaba)
After a brief spell of absence, it seems Ethereum Classic is back on people’s arbitrage radar. That in itself is always a good development, a sit gives traders many more options to work with. For today, buying ETC on Binance, KuCoin, or Gate and selling it on Gobaba will yield an average profit of 0.87%. A very small opportunity, when considering some of the alternatives, but still an offering worth looking into.
Tron (Koineks / Bitfinex)
As has become somewhat of a normal trend in the world of altcoin arbitrage, Tron’s price differences between trading platforms are usually worth taking advantage of. At this time, it seems the TRX price on Koineks is 2.35% lower compared to Bitfinex, which makes for an interesting price gap to exploit. Both platforms should, in theory, have plenty of trading volume to ensure this gap yields some proper profits.
Litecoin (Bitstanp / OKEx / Bitfinex)
For those users who like to trade and flip Litecoin between exchanges, numerous options present themselves. It is plausible to buy LTC on Binance, OKEx, or Gate to sell funds on Gobababe for a 0.82% profit. The lucrative option comes in the form of buying on Bitstamp, Paribu, or Koinim and selling on Bitfinex for an average profit of 2.3%. Another interesting option for those who want to make some easy money over the weekend.
Bitcoin Gold (Cex / Bitfinex)
Although the current Bitcoin Gold arbitrage opportunity may not yield any major profits in the process, diversification is key in the cryptocurrency industry at all times. The same rule applies to exploring arbitrage options, as focusing on just one or two markets will not work out. Buying BTG on Cex and selling it on Bitfinex can yield a gain of 0.9% per trade. It is a good option once all other opportunities on this list have been exhausted.
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.
Image(s): Shutterstock.com
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by JP Buntinx via NullTX