Recently I saw a post about the Nigerian exchanges and i realized that the buying rate is 20-30{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} higher.
That means that the people in Nigeria buy at +30{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8}, BUT that also means that the Nigerian exchanges buy at +25{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8}.
Simple math:
Buy rate at BitFinex at 05:00 GMT = $918
Sell rate at Naira Exchange at 05:00 GMT = $1147
That is a huge difference and it can surely be used for arbitrage.
submitted by /u/sasrsd
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