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Has anyone looked at Arbinace? Here's my experience with it so far.

Has anyone looked at Arbinace? Here's my experience with it so far.

Bitcoin Reddit

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It sounded an interesting idea but I'm not sure I understand it. To try it out, I transferred 1 BCH there last week. Basically you pick an arbitrage pair and it tells you the buy and sell prices as well as the "pure profit" percentage after their processing fee (usually ½%).

However it takes around four hours to process the trade and you can only have one active trade at a time on the free account.

So far, keeping it in a separate browser window and starting it running whenever I notice it's finished, it's changed my 1 BCH into 1.188 BCH, a gain of 18.8% in a week. However they seem to charge 7% withdrawal fee.

My questions are:

  • Why does a transaction take 4 hours (predetermined) to execute?
  • Is it safe? It looks like an exit scam waiting to happen.
  • Is there a better way to benefit from the difference in value between exchanges, for a small player like me?
  • It states: "Max Trading volume - 2500 USD". Is that per trade, per day, per month?
  • Should I transfer more BCH in? If it can really make 1½% a week that's about 200% per annum plus any rise in value of the BCH.

Edit: It's ArBinance, not what I wrote. Sorry. URL is https://arbinance.com/

submitted by /u/Sixes666
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