I tripled my money in one hour...
Using SBD and SALT
OK Just to show you the power of Steem and Abitrage
Back in December I wrote about an arbitrage possibility for Steemit: https://steemit.com/cryptocurrency/@kyusho/arbitrage-201814t52520791z
But I do not think many actually looked into it... yes several people upvoted it but how many here actually pursued it?
So I thought I would just list a quick summary of the arbitrage I did last week using SBD and SALT, for a quick 300% Gain ROI:
Using Blocktrades, I quickly converted 142 SBD I had stockpiled recently, into LTC and sent it to an exchange. I traded that LTC to purchase 103 SALT token.
Now the SBD was around $7.00 each and the SALT around $8.00 each... so it may seem an even trade. But I assure you it was not.
As in that article posted on Arbitrage points out, SALT will redeem your SALT at $27.50 each.
142 SBD = $994.00 (Approximately)
103 SALT = $2,832.00 (Approximately)
Planning Ahead
Now I could redeem those SALT and trade back to regain my 142 SBD and still have more SALT, or I could invest in many other cryptos I hold to add to my positions. But for me, I have many long range goals that I planned, so I will just keep accumulating the SALT.
Instead of just talking the talk, I walked the walk to help you and me
Many people write of good ideas, never to realize them... all great in theory, but it lacks the true power of an experience. So I decided I write about this experience, not just the theory... and you can bet I will be doing this more in the future. Yes a few steps (especially if you are not first involved with SALT, but definitely worth your while as this arbitrage opportunity will not last forever.
In fact I am doing way more this week
The next transition... while the market is resting (not for long)
I have about 7 LTC hanging around on my JAXX wallet... here is what will happen as of this writing time frame. If I convert 7 LTC (which is approximately $1,155.00) into SALT, I will receive approximately 185 SALT tokens (at $6.24 currently).
185 SALT redeemable at $27.50 = $5087.00
OK what if I turned that back around into LTC.... $5087.00 = approximately 30 LTC.
I hope this gets your morning off you a good start... now go buy some SALT - Click Here
.
.
.
Image Credit: me, steemit, salt, jaxx
It seems I need to study SALT mechanism!! Thanks for this post!!
In this consolidating market wide drop, at it is nice to know there is something you can do to keep building the portfolio... gearing up for a bigger move on it now.
is this still ongoing??
What kind of a model is this? :P They'll run out of money.
Just shapeshited (through JAXX) some ETH intoSALT, at approximately $4.50 for tokens redeemable at $27.50... but you need to work it through a loan not fiat conversion.
Is it still around 8$? Can I think do this ?
Just checked it is at $5.38 now... but SBD's dipped a bit as well... but SALT is down 13% and SBD's only around 5% down...hugerer arbitrage now... especially with fixed rate of SALT redemption at a fixed $27.50
So what should I do ?
I can not tell you (not any kind of financial advisor), I only know what I did and is possible. But I bought in salt on the initial offering as I planned on using it. Now I just add to it, but with this opportunity if someone were not in yet, they are practically guaranteed a great and instant conversion income.
Great info so how to put it into action now with a quick test for small profit and to get experience at trading using Blocktrade, Binance... :
Using Blocktrades, I quickly convert 14 SBD into 0.42271278 LTC and send it to Huobi.pro exchange.
I trade that 0.42271278 LTC to purchase SALT token.
And I make how much small profit today?
Cant see LTC to Salt ttrading pair on Binance
As the article stated above I sent the Blocktrade SBD to LTC to my JAXX wallet that has a SALT conversion through it's shapeshift. I then sent the SALT from my JAXX to SALT Platform at: https://membership.saltlending.com and can now redeem it at $27.50.
Or just see what the trading pair is... I Know BTC and ETH for most... so maybe do it with them instead...I choose LTC as it is faster and less money (I also own a bit already.)
Seems too good to be true. Do you mean that I can buy SALT tokens on exchanges at $5.5 (current price), then transfer to SALT account and then redeem tokens with $27.5 price?
Yes that is what I did and explained... and if I want to pay off a loan from SALT I took out, I could also do that at $27.50.
So I buy 1818 SALT at this$5.50 price, send it to my SALT account, take a loan for $10,000, it would only take 365 or so of those 1818 to pay it off.
very good information and useful and needed. good luck always for us.
Only if you put it in action.
Thanks for sharing a great opportunity - things like this may help members realize they have potential ways of enhancing their ability in this sphere. I do feel some people are overlooking what they can do with SALT at the moment.
Consider adding the tag #salt for your post ;).
Point taken on the hashtag and added.
I have posted many times on SALT as I feel it is a powerful tool that will save Crypto users a lot of money and taxes. Coming from being a business (several) owner as well as Real Estate investor and IP producer, the possibilities are impressive.
But... and here comes the kicker, people have t put it in action and work with it to receive the benefits.
Thanks for this eye opener, I never heard anything about SALT before but now I will surely check it out... Thanks and God bless
It has far more potential than most other tokens or coins, a way to offset taxation on funds, arbitrage (mentioned above), rental potentials... it will also be a beacon for many banks. Those banks that are already working with SALT have secured loans making them money rather than RE backed loans they struggle with due to maintenance and market concerns.
The only part I dont undertsand is how you redeem salt which you bought at 8 in to 25? And what are the tools you use? Sorry for my lack of information im somewhat new to crypto
As the article stated above I sent the Blocktrade SBD to LTC to my JAXX wallet that has a SALT conversion through it's shapeshift.
I then sent the SALT from my JAXX to SALT Platform at: https://membership.saltlending.com and can now redeem it at $27.50.
Or just see what the trading pair is... I Know BTC and ETH for most... so maybe do it with them instead...I choose LTC as it is faster and less money (I also own a bit already.)
You need to be on the SALT Platform so go join at this link: SALT - Click Here
Now if you have SALT that you bought at $5.50 you still have it... so when you join you can transfer them anytime. The arbitrage will only last until the exchanges are charging the same... but the current price is really good now.