Cryptocurrency Arbitrage bot, bitRage!
bitRage is the only Cryptocurrency Arbitrage bot capable to scan over 136 Crypto Exchanges 24/7 looking for variations in the price of the selected coins on different markets in a very large spectrum of opportunities and firing profitable Trades
But, What is Arbitrage?
According to Investopedia: Arbitrage is the simultaneous buy and sale of an asset to profit from an imbalance in the price. It is a trade that profits by exploiting the price differences of similar financial instruments on different markets or in different forms… but bitRage do more than just that it does more than “triangular arbitrage”
Cryptocurrency Arbitrage bot
Let me give you a simple example of what bitRage the Cryptocurrency Arbitrage bot can do:
You have 2 base coins and 1 quote in your chosen exchange USDT (base)-BTC (base) and LTC (quote) the most simple operation bitRage will do here is to buy LTC with USDT sell that LTC for BTC and finally sell BTC for USDT keep in mind this is the simplest thing it can do, so the result, in this case, will be more USDT than you had before the operation, fees, of course, are accounted for by the bot.
To give you a better idea: with USDT-LTC-BTC bitRage will look for any combination that will give you profit at the end, could be: sell/buy/sell, buy/buy/sell… and so on as long just looking for gain, but it won’t stop there, it will do so by firing either Market Orders, Limit Orders or even Close the Spread whichever is more profitable the bot will go for it.
Let me explain you the logic of our cryptocurrency arbitrage bot
1- Starting point if we have enough Base coin the bot will fire the first trade
2- If there are no open orders on the first pair will fire second trade
3- If there are no open orders on the second pair will fire third trade
If the 3 opportunities where Market Orders, that’s it, we profit, rinse and repeat, but if we fire Limit Orders this will happen next:
4- If the first trade gets canceled, the stage goes back to null and we start from point 1
5- If a second trade gets canceled, the stage goes back to stage 1 and we start from point 2
6- If a third trade gets canceled, the stage goes back to stage 2 and we start from point 3
7- Every time one of the above points goes to open orders block: we give that single pair to our very own Gunbot to take care of any failed stage, then the first one between bitRage and Gunbot that sells, resets the stage if Gunbot will set to null if bitRage will go to the next step.
Yeah, Gunbot! That’s the secret weapon that will help us to get rid of any bags that could be created in the process and to tell you the good news is only thru Gunbot that you can gain access to bitRage if you decide to do so and enjoy the benefits of a powerful arbitrage bot
You can also do crypto Hedging…but, wait that’s another story, go Grab Your Gunbot Now Upgrade to our cryptocurrency arbitrage bot and I tell you all about it in our Official Telegram Chat!
Great explanation