In our beautiful world, Bitcoin is the most popular currency in the entire world. But did you know that multiple exchanges in different countries offer different rates for Bitcoin? You can open accounts in different countries and buy and sell Bitcoin from one country to another.
For example, we can open accounts in three countries: India, South Korea, and the US. For our arbitrage strategy, we use the CoinDCX exchange for India, Bithumb for South Korea; Coinbase for the USA.
How to execute
After opening the accounts in three different countries, it’s time to deposit the fiat currency of that country and the USDT in three different exchanges.
You also make sure the crypto exchanges you have chosen allow you to deposit and withdraw BTC, USDT, and fiat currency.
Another point is that you also make sure what the types of limitations are implemented on your account. For example, what are the regulatory concerns, and how much money can you transfer from one exchange to a different wallet?
Moreover, what are the handling fees and associated fees attached when you are buying and selling Bitcoin and USDT? Because fees are the cost of your business. If you have failed to determine what exactly fees are required, you can lose your profit. The Bitcoin and USDT are affected by the market fluctuation, and if you do not properly calculate the fees, your arbitrage has nothing to give you.
- First, buy the fiat currency of that country.
- Buy the Bitcoin from the country.
- Transfer the Bitcoin to another country if you have a price difference.
- Sell your BTC and earn USDT.
- Sell your USDT for USD.
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