Exchange games

in #money6 years ago

railway-1758208_960_720.jpg

Morning readers! By now everyone knows about HitBTC SBD pump. If you're still not up-to-date, check the price of SBD at HitBTC exchange below:

hitbtc 21.JPG
coinmarketcap.com

At the same time we, mere mortals sit at $1.74 on all other markets :) So whtas going on with the pump? If you start panicking and quickly creating an account on HitBTC, to somehow try and make use of this situation, let me first warn you, that their STEEM and SBD wallets have been offline for months.

sbd offline.JPG
hitbtc.com

Feel free to check the wallets' statuses here yourself: hitbtc.com/system-health

I've fallen for that issue myself, seeing an arbitrage of 29% between HitBTC and Binance, rushing to buy STEEM for my BTC on HitBTC and then trying to withdraw it, just to realize i was duped and the wallets are offline. This case ended up me selling my STEEM back for BTC for a small loss, because i didn't want to hold dead weight in a locked down exchange. What's the good of arb if the wallets don't work?

unknown.png
hitbtc.com/exchange/SBD-to-BTC

Yep, at the moment of writing this post, the price at HitBTC for one SBD is BTC 0.02, which equals to around $150 with rough calculations. The liquidity though, is really thin. Even if you had SBD on HitBTC, dumping it would bring the price back down significantly.

If you still want to take advantage of arbitrage now and then - there are various arbitrage monitoring websites around:

coingap.JPG
coingap.org

coincheckup.JPG
arbitrage.coincheckup.com

cryptoarbitr.JPG
cryptoarbitr.com

Before using these sites, always make sure there are not any issues with the exchanges you are going to work with. Smaller amounts are often not worth taken advantage of with, since the exchange fees might eat up all your profits.

Always do your homework, do not rush into things. Or, if you're like me and want to experiment before thinking, make sure you don't do it with your life savings :)

Good luck traders!



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I saw this the whole weekend but didn't know the higher average on coinmarket was from the hike on hitBTC. Thanks.

Now you might need to enlighten us a little bit more on arbitrage.

I might try to write a brief post about taking advantage of simple arb opportunities :thumbsup:

Hiii @furious-one Thanks a lot for updating about this issue.I am also thinking about it that how can SBD pumped in this exchange. but the picture is not clear. and now you in very detail posted the whole story here.

Damn whats happening with the HitBTc figures,yesterday it was at 10 and i rushed to Steemit internal market only to get shocked hehehe.

The figure has now risen to 21 damn....who is responsible for this glitch?

HitBTC is now a scam, don't bother trying to rip off this 'glitch'

The only reason why coinmarketcap remove HitBTC as SBD market on there website.

Thank You so much for share This full line ( Still not selling your vote to Minnowbooster to earn SBD)

Thank you so much @furious-one for share your updating information. its very useful at present.

This seems very useful thanks

Very good application for checking cryptocurrency and receive notifications https://masscoinapp.com

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