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28064907 No.28064907 [Reply] [Original]

Does anyone have experience buying into a secondary fiat currency then swing trading into crypto to maximize gains?

Irl fren has a bot that takes advantage of USD -> Peso -> LINK / BAT conversions and was curious if it was common or if he’s just truly autistic

>> No.28065163

>>28064907
I did some manual arb back in 2017. Eth and btc vs usd and my local currency. Back then the gaps were big enough that you could do it by hand and make money. Nowadays you need a bot for sure. I don't think it's worth the effort and the risk (you're picking up pennies in front of a steam roller)

>> No.28065288

>>28064907
arb bots are complicated and compete with each other which leads to an arms race for gas fees and razor thin profit margins

>> No.28065450

>>28065163
If you don’t mind me asking what was your local currency? Apparently DOGE and UNI are gaining massive popularity in Venezuela and locals are bending over the system taking advantage of local rates
>>28065288
Yeah he said similarly. He’s bringing in about 3-5% daily and is in the process of adding more currencies but said there are days where the bot taps out due to lack of a confidence indicator.
>Appreciate you two responding!