Using Nigeria’s rates to arbitrage

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1 BTC = $35611.01 USD  (via Coinbase)
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1 LTC = $158.33 USD  (via Coinbase)
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Kryptous

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Recently I saw a post about the Nigerian exchanges and i realized that the buying/selling rate there is 20-30{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} different that the EU and US rate.

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 08:00 GMT = $915 Sell rate at Naira Exchange ar 08:00 GMT = $1149

That is a huge difference and it can surely be used for arbitrage.

submitted by /u/bsadfw
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Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $35611.01 USD  (via Coinbase)
1 ETH = $2246.56 USD  (via Coinbase)
1 LTC = $158.33 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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