STEEM Trading At A 20% Premium On Bithumb
Looks like there's something going on in the Korean exchange Bithumb: STEEM price is at least 20% higher on the STEEM/KRW pair:
At the other end of the spectrum, in Poloniex STEEM is trading at $1.28. But I wouldn't trust much Poloniex, given its history of suspending deposits and withdrawals at the "right" moment. I didn't even check, but I have a hunch that deposits and withdrawals are not enabled on Poloniex now.
Other exchanges are posting STEEM prices more or less equal to $1.6.
All in all, this seems like a nice arbitrage opportunity, if you would, let's say, buy on HuobiPro with $1.6, then sell on Bithumb with $2. All speculation, obviously.
And just in case you want to try this:
Disclaimer: I'm not a trader and this is not trading advice. Please trade mindfully and only put in what you can afford to lose.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I guess this might be the marketing strategy of Bithumb to attract all steemians to signup...
Crypto trading arbitrage with such huge margin in steem price from these trading platform will certainly be very profitable to do
Great news , thanks for your update news . keep good work of every time .
Thanks for sharing @dragosroua
Upvote you .
I'll be interested to hear what the result is if anyone actually tries this @dragosroua. Are you going to give it a go? 😊
Neah, too much stuff to do just for a fleeing thing. I'm not much of a day trader, anyway :)
Arbitrage is great but the currency exchange from Korean Won may be an issue. Just be careful and know your numbers before attempting a trade.
wow, what a good idea, buy here and sell there with a good profit margin just in seconds. That's cool if you ask me.
A $0.4 margin isn't bad depending on how much am buying and selling.
Please be aware that these are different trading pairs. On Huobi is STEEM/USDT and on Bithumb is STEEM/KRW. Likely to lose something on the exchange from USDT to KRW (if that's even possible, didn't search).
It may be a nice arbitrage opportunity, but its also risky and if doesn't pan out you might lose money on taxes. Nevetheless, investment in steem is always a good investment.
Really amazing and thanks @dragosroua for update.
AFAIK the north korean steemit community is one of the biggest by languages, maybe the 3th or 4th. I guess due to the freespeech oriented model of the steem blockchain and so just trivially the global ask for the steem asset on that area is high.