Morning readers! By now everyone knows about HitBTC SBD pump. If you're still not up-to-date, check the price of SBD at HitBTC exchange below:
At the same time we, mere mortals sit at $1.74 on all other markets :) So whtas going on with the pump? If you start panicking and quickly creating an account on HitBTC, to somehow try and make use of this situation, let me first warn you, that their STEEM and SBD wallets have been offline for months.
Feel free to check the wallets' statuses here yourself: hitbtc.com/system-health
I've fallen for that issue myself, seeing an arbitrage of 29% between HitBTC and Binance, rushing to buy STEEM for my BTC on HitBTC and then trying to withdraw it, just to realize i was duped and the wallets are offline. This case ended up me selling my STEEM back for BTC for a small loss, because i didn't want to hold dead weight in a locked down exchange. What's the good of arb if the wallets don't work?
hitbtc.com/exchange/SBD-to-BTC
Yep, at the moment of writing this post, the price at HitBTC for one SBD is BTC 0.02, which equals to around $150 with rough calculations. The liquidity though, is really thin. Even if you had SBD on HitBTC, dumping it would bring the price back down significantly.
If you still want to take advantage of arbitrage now and then - there are various arbitrage monitoring websites around:
Before using these sites, always make sure there are not any issues with the exchanges you are going to work with. Smaller amounts are often not worth taken advantage of with, since the exchange fees might eat up all your profits.
Always do your homework, do not rush into things. Or, if you're like me and want to experiment before thinking, make sure you don't do it with your life savings :)
Good luck traders!
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