Arbitrage is a very simple process, yet it is difficult to master, and it still depends on factors, not in your control. If there is simply no demand for a Bitcoin order in your price category, it can take anywhere from days to months until it is either fulfilled or canceled. Do not be disheartened if this were to be the case, as a small revision of strategy is all you really need.
The number of Purse.io orders being completed heavily depends on the current Bitcoin price. At the time of publication, 1 Bitcoin was worth roughly US$241. It is safe to say that any order exceeding the US$ value of 2 Bitcoin will take a while to complete. After all, two Bitcoin, at a premium price of an average 20%, totals up to a US$578.4.
Successfully executing an arbitrage opportunity through Purse.io will require extensive research on what items can easily be sold for a higher price. Amazon is one of the world’s largest online marketplaces, and any item they sell will be of – potentially higher – value to someone else. Without proper research, finding that niche market is next to impossible, though.
There are a few things you will need before exploring arbitrage opportunities through Purse.io though. First and foremost, an easy way to re-purchase Bitcoin with the money you earned would be a good start. Secondly, you will need a Purse.io account, which speaks for itself. Last but not least, a small stash of Bitcoins to spend and get the ball rolling is a definite must.
Unlike Bitcoin exchange arbitrage, dealing with tangible goods is a more approachable option for novice users. Every Bitcoin exchange has its own fees and withdrawal limits, as well as funding fees in some cases. As a result, one would need to make a very large profit to make Bitcoin exchange arbitrage even remotely appealing.
Have you ever explored arbitrage opportunities through Purse.io? If so, share your thoughts in the comments below!
Website: http://purse.io
Images courtesy of Purse, Amazon, Shutterstock
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