OK, I hear about arbitrage and how it can be a consistent gainsmaker. There is always like a 25%+ differential between the price of BTC on Korean exchange vs EU/USA exchanges.
Redpill me on this, why isn't this is as easy as opening a few exchange accounts and pumping money back and forth between exchanges? Obviously it's not that easy or else everyone would be doing it. I just want to know why it's not that easy.
how do you do arbitrage in general? I tried it and just fucked myself.
if you are not Korean you can't trade on Korean exchanges, simple as that
sure, but what about any other exchange?
transaction times too slow
So if I knew someone in South Korea could I form an arbitrage team with them? I buy BTC, send it to them, they sell it, send fiat to me, repeat forever and split the profits? That still sounds too easy to be true if so. Would I get cucked by the IRS or FBI seeing so much foreign money flow into my bank account day after day?
pls tell me what coin is best to move from one exc to another fairly fast?
XRP is usually not present. DGB? LTC? LTC is pretty slow tho
>send it to them
Arbitrage can be a good moneymaker for example between coinbase and other exchanges because there’s a premium on GDAX at most times. But it’s risky due to transaction times. Also Korean law is insanely tight so that is a no go.
XRP genuinely the fastest way to move money imo. If I wanna move money around between exchanges I always convert it to ripple and send it in that form
>not in cryptopia >not in okex >not in kucoin
any alternative to xrp?
Why would he deal with you? He can buy cheap coins himself. Koreans are probably already getting rich off arbitrage. If not they're stupid.
>send BTC You must be new
How do Korean exchanges stop non-koreans from using their services, I was able to make a bitthumb account easily
No idea, only use binance and bittrex really, wanted to get coins that are cheap on other exchanges but idk what currency is as fast n reliable as ripple >Not even shilling xrp due to any bags, I sold at .8 dollars lol
try withdrawing now, newfriend
You can't withdraw. Also withdrawals are in Korean money. You'd need to convert that to real money, losing % and dealing with banks...
XRP fastest coin, yet gets shit on by biz. Classic.
xrb and syscoin are faster but these are not present either..... almost as if exchanges are fighting against arbitrage... hmmmmmm
i don't know why exchanges would be against arbitrage. it's generally considered a good thing for the market.
I'm a foreigner working in Korea, we are able to sign up and use the exchanges here as long as we have an alien registration card