There are always trading opportunities made possible on the crypto industry simply because of the sheer number of a cryptoassets available to be traded in so many fragments of the market.
There seems to be an opportunity right now for Steem Dollars that fell into our radar. Of course, this warrants more due diligence on the trader's end and nothing we said must ever be taken flatly as financial advise (we're not lawyers here, just crypto enthusiasts).
Looking at the list of markets trading Steem Dollars on CoinGecko, we found a disparity between 2 major exchanges with relatively high trading volume. We decided to take a look further.
Sure enough, these 2 markets are trading SBD at a different rate, Bittrex at ) 0.1mBTC and Upbit at 0.08mBTC. Which calculates to 20% arbitrage opportunity. As we all know, 1 SBD is always priced at $1 USD. Right now, it is trading lower than $1 USD in Upbit.
Incidentally, the price in Upbit is trading at $1 Singapore Dollar. Which is cool considering we're looking at Upbit through Upbit Singapore.
Are you taking up this opportunity? do let us know how it went for you and feel free to share your thoughts and opinion.
Why coingecko doesn't have an exchange?
We are right now just a data aggregator. A crypto exchange has widely different product offering and responsibility than what we are doing currently.
We don't have any plans for a crypto exchange.
People I have read doing this are @ackza and @joythewanderer. I think I am too dumb and slow for it, but maybe later when I am doing better in other regards here on STEEM. Good opportunity though :)
I'm slow with these too, so I stopped caring about profiting from arbitrage.
Still, the news that Steem & SBD are in up trend uplifted my spirit.
A number of occupational traders in both crypto and traditional markets made their trade by utilizing opportunities such as these. They are called "Arbitrage Traders", it a whole trade in itself really and it can get technical.
All the best in your STEEM journey!
Lovely post!
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Personally I will be avoiding Upbit:
Considering how "lucky" I am ill skip this one haha