Top 3 Cryptocurrencies I use when trading
I have found that buying and transferring a single currency between exchanges then selling, rather than trying to make money buying and selling within the exchanges is a lot easier.
Top Three - BCH (or BCC), ETH, LTC
When looking to trade across exchanges I needed a simple strategy. I decided to trade these few currencies because they all have a USD trading pair (BCC/USD, ETH/USD, LTC/USD).. Do you have any successful experience with day-trading other currencies across exchanges? Are you trading to build your USD, BCH, or something else?
FYI, if you were wondering if you could trade between Binance with BCC to other exchanges with a BCH ticker, you can! Be careful which currencies you're transfer and where and always verify either with the exchange or Reddit!
Transfer Times
In the last week (I know, low holiday volume):
Bitcoin Cash - 20-45 minutes to transfer
Etherium - about 20 minutes, and
Litecoin - about 15-20 minutes.
What are your experiences with delays, and where are you located?
Volume has been up from the holiday but still not at pre-Christmas levels. What have you noticed in relation to transfer delays at certain volumes?
I completed a beautiful parity trade (e.g. 1 BCH = $2500 on both exchanges your transferring from/to). Anyone have any experience on how often that happens?
As I continue watching the markets, it appears as the imbalances rotate between exchanges and currencies. There's not always a lot of money to be made trading, but if you catch it at the right time - things can work in your favor.
One final thought. Remember to always use 2FA (2 Factor Authentication), and backup your secret key. Don't get caught with your phone busted and no way to get into your accounts! Typically your secret key is provided the first time you 'scan' the Q-code to set up your 2FA. If you lose your phone, exchanges usually can reset your account with that key.
Happy trading!
Hey NOOB
sign up for steemit chat k?
I love your blog man!
WELCOME ABOARD, we are going to have some fun...
just did. Thanks for the message! Are you trading as well?