The makers of the automated cryptocurrency trading bot, known as Gunbot are nearing the release of their long-awaited arbitrage trading bot, so lots of old and new users are wondering, “Should I buy bitRage ?”.
A lot of users are unfamiliar with the concept of arbitrage trading in general, so in this article I will briefly surmise the benefits of arbitrage trading, as well as help you understand what arbitrage trading is and how bitRage makes the experience user-friendly, as well as profitable.
Arbitrage trading is a method of trading that occurs when there is a price difference for an asset across exchanges and markets. If Ethereum is valued at 0.1 Bitcoin on Bittrex, but 0.12 on Binance, then there is profit to be made easily, as long as the trades can occur fast enough and before the price variation disappears. Because of the massive volatility built into cryptocurrencies, this price variation occurs frequently, but it also has the tendency to disappear just as fast. Some people try to engage in arbitrage trading manually, but they often lose money because they are unable to take every consideration into account before the price variance disappears or reverses.
As stated previously, Arbitrage trading has to occur quickly, if not simultaneously to lock in profits before the market variations disappear. Searching out assets across various exchanges as their prices change into a profitable range, and calculating in the transaction cost, then deciding whether or not you can still make the trades occur before the price drops or events out is near impossible without having massive amounts of liquidity available across every possible market.
bitRage takes into account all of your cost per trade, and buys when it finds profitable conditions, and if those conditions change, it will hold off from selling until the conditions to make profit reappear. It scans every exchange that you submit API keys for, so instead of hopping around, window to window, exchange to exchange, straining your brain trying to find a profitable arbitrage trade, you can have Bitrage do the same thing after configuring a couple of options and entering in your API keys.
The pre-order price for a bitRage license is currently 0.95 Bitcoin and that price is likely to change due to the limited number of licenses being made available for bitRage.
With most trading done within cryptocurrency, you have to wait for an asset to either appreciate or lose value in order to try to make money which can take a bit of time for enough change for your profits to be worthwhile. With arbitrage trading, there is no waiting for good news to pump a coin, you simply have to let Bitrage monitor the market and it will do the purchasing and selling automatically.
Arbitrage trading is very profitable, as there is less to worry about due to market sentiment. When considering the typical trading strategy, there is a lot of time invested in researching each coin, each ICO, and worrying if a will suddenly plummet in value due to bad news or rumors. With arbitrage trading, using Bitrage, market sentiment does not matter, only price variation. As long as an exist different markets, you can make profit with it using Bitrage to take advantage of its price variation.
There is a telegram channel where you can watch live trades occur at :
Monitoring this live feed can help you see the trades that have occurred with bitRage, which can show just how profitable it currently is, as the market recovers from its long time sideways trading.
Before beginning your Bitrage bot, take into account that you will have to create new accounts for trading with Bitrage, or halt your manual trading. If you attempt to trade manually on an exchange account that you are running your Bitrage automated trading bot on, you will interfere with the process that is underway and could possibly lead you making unprofitable trades. It may seem like a bit of nuisance to create entirely different accounts solely for your automated trading, but its always better to have different accounts regardless so that you can properly monitor your profits, as well as allow your bot to monitor its own processes.
Arbitrage trading is a seamless method for making profit with minimal research on the tons of altcoins that exist, especially since the market is constantly in flux with new ICO’s and also having various coins delisted across different exchanges. This cutting-edge trading bot can’t guarantee that you’ll be the next crypto millionaire, but it will definitely give you an edge over other traders.
Have you ever attempted arbitrage trading, or automated trading?
If so, what have your results been? Leave your experiences in the comments below.