This Type of Trading has been around for Thousands of years and is now being Adopted by the “Global Cryptocurrency Market”
One day...scratch that. One long night at about 4:20 A.M after a few adult beverages and maybe a couple of other recreational substances I finally got home, opened my laptop, and discovered something that scarred me for life. And no, not two girls one cup (you dirty mind you). This was a good scar, a memorable one, like a soldier who fought in an epic battle or some sh*t...lol.
While looking at coinmarketcap at market pairs for BCH I clicked on the view by price option and saw something incredible. BCH was going for around $350 USD on one exchange and for about $377 USD on another (this was right before Black Thursday). I immediately signed up for both exchanges and tried to cash in quick. Problem was that I could only place limit orders on the one exchange when I needed to sell on spot at the current market price. After a few tries I succeeded, I made about a 7% gain by a method known today as Arbitrage trading.
Since ancient times when (whatever tf we believe when you read this) were all thriving empires, this type of trade existed. You can purchase a spice from South India for (lack of a better term) “mad f****in cheap” and sell that ish back marking it up at every single stop on the Silk Road..which was obviously built by aliens no?
Even today when you hear about people trading Forex they’ll say stuff like trading “this” currency against “that” currency. Basically the same s*it. So silly me spent lots of sleepless nights trying to sign up and KYC to various exchanges and failing miserably. First off, I was not taking into consideration the volume of trading on these exchanges and also if the platform is allowing me to trade at just limits or spots. Secondly to those shaking your head at me, obviously there is a liquidity issue. And lastly I’m just not fast enough with two hands, thus why trading bots exist.
You can see where this is going right? I signed up for all the free trading bot trials and watched dozens of youtube videos for setting them up and failed again. At this point I already told my cousin who is like the closest person to me (and who also owned an Antminer S1 back in 2014 and had it sitting down collecting dust because we were both too cheap to buy a power supply for it) that I figured out a way for us to get rich but I can’t seem to get all the pieces together.
So like Brian Mcknight, I started back at one. Got drunk, did a few lines, smoked a fatty and started researching. I found some useful sites like Arbitool and TokenMetrics, but naturally being close to broke I didn’t want to spend anything (little voice in my head saying “but you could spend money on fu**in blow n booze right?”). I found a youtube channel called cryptolifestyle and buddy introduced me to a site called Paxful.
I swear you never heard of this site, but its where a lot of people in Africa, specifically Nigeria and Ghana buy their BTC. Now I will admit that I dabbled in some greyish areas in my teens so I know a few things about carding (I even owned 30 BTC in 2012 and sold them smfh). Before you read this and sign up make sure you know and acknowledge the risks. Even with my experience and knowledge, I myself can still be finessed at times by scammers. And it’s a reason why to become a BTC vendor for certain types of trades you will need a .1 BTC security deposit. Again, do not do this unless you understand the risks and how to vend on the site safely.
I’m sharing this info now because after a couple months I was actually able to turn my findings into a small profitable business and now I want others to do the same. As how the first traders in ancient times knew that different markets will yield different profit margins, so they traveled hundreds even thousands of miles to widen their profit spread. At the same time there was also robbers and looters they had to watch out for, even currency manipulation when leaders started diluting their gold. These days are no different. Hackers are always on the prowl, scammers knew about BTC before you did, and even exchanges are sometimes shady af. In the end knowledge is Power.
