Unique in nature as digital assets, cryptocurrencies and tokens are different in not only their existence, but how they are traded. Created first in 2009 as Bitcoin, today there are thousands of cryptocurrencies spread across the globe, being traded in hundreds of exchanges. The opportunity to invest and gain profit is immeasurable.
Exclusive to Crypto Trading
While many argue and try to explain that crypto trading is no different than trading traditional assets or currency, there are subtleties in crypto trading that make all the difference.
Cryptocurrencies are notorious for having wild price swings. In traditional markets, an increase or decrease of 5% in value is rare, while in crypto trading 10% or more is an everyday norm. Recently, in March this year, Bitcoin, the largest cryptocurrency by market capitalization, fell a staggering 80% in value within a day, only to nearly recover a few days later.
Traditional exchanges are tied to the country they are based in. This means that when the work day is over, the exchange halts trading. The exchanges also remain closed on holidays. As a true global market, cryptocurrency exchanges are open 24 hours a day, be it a Sunday or Christmas. An exchange normally has traders from all corners of the world and the exchange of assets continues throughout the day.
Bitbengrab: Taking the Arbitrage Advantage
Bitbengrab leverages the unique trading nature of cryptocurrencies and combines it with arbitrage to give its users the most frictionless method to generate profits.
Due to the fast and always-on trading nature of cryptocurrencies, two or more exchanges can have slight differences in values of the same coin. This is due to the localized supply and demand that has its own effect on value. Unfortunately, the opportunities presented are few and seldom found, with most over even before a trader can get to know of it and react. This means to withdraw funds from one exchange and send it to another where profits can be made would not only result in time (leading to the opportunity being closed) but also making the trade infeasible due to the withdrawal and deposit charges.
Bitbengrab removes the hurdles by letting traders connect to the 29 largest exchanges (such as Binance, Bittrex and Bitfinex) and gives them the chance to use arbitrage and gain profits. Using its libraries and getting trading data in realtime, Bitbengrab aggregates information on which arbitrage trade will result in profits, displaying it to the trader. The trader then can execute the arbitrage, either manually or using the Bitbengrab API connected to the relevant exchanges. To ensure that traders’ assets are always safe, Bitbengrab API only requires permissions for viewing balance and executing traders. There is no need for a withdrawal or deposit option.
To take the maximum advantage of Bitbengrab, traders should register on all the 29 supported exchanges with full KYC so their limits to trade are maximized. To make it easier for users, Bitbengrab also offers a video tutorial.
To take advantage of arbitrage trading, visit and sign up on Bitbengrab today.