Crypto trading has come a long way in the past ten years or so. Earlier, it used to be a space where you had to identify other traders through chat forums. Numerous exchanges evolved region-wise and they started competing against one another in terms of their ease-of-use and competitive offerings. While Bitbengrab is well-known in the UK, Crypto Superstar software, an online platform that allows for automatic cryptocurrency trading, is gaining popularity in Germany. Several platforms in other regions have also proven to be popular trading platforms. However, the price data provided by them were often seen to be asynchronous because oracles feeding the information to them experienced lag. Exchanges were also found not to be prompt in responding to changes.
These factors led to arbitrage trading; here, traders could profit from buying and selling crypto assets between different exchanges, taking advantage of the price differences between them. These trades were not free from risks because the profit margins were typically low and they could even lead to net losses for the trader. However, on certain occasions, these could turn out to be big breaks for traders.
Bitbengrab is an arbitrage trading service that has come out with a tool for helping traders make big profits on manual/ automatic arbitrage trading spread over 29 exchanges. This UK-based company comprises of a team of trade experts and programmers who have many years of experience behind them. This is why they have been able to successfully design this trade platform to become the most trusted go-to platforms for traders who wish to exploit price difference among crypto exchanges. When you use this tool, you no longer have to go through prices being offered by different exchanges and manually monitor arbitrage opportunities.
How Bitbengrab works:
Bitbengrab makes use of libraries for connecting to various crypto exchanges. They extract price information and order books from time to time. Once data is collected, it seeks to find the price discrepancies between different market pairs or exchanges. In a few simple steps, a trader will be provided with an impressive range of arbitrage options. He can then decide whether to trade this automatically or manually.
As of now, Bitbengrab supports as many as 289 crypto exchanges and it has intentions of including many more in the days to come. To use the platform, you must have an account in the exchanges where such trades will be executed. You should also have enough balances for executing trades in case you choose the API option. When Bitbengrab has been linked to the exchange API, you will only have to set permissions for trades and balance since the platform will not need permission for deposits and withdrawals.
Bitbengrab trades automatically in 29 exchanges such as Bitfinex, Binance, and Bittrex; this guarantees that traders can trade at some of the biggest and more popular exchanges. It is advisable for users to first go through verification with their KYC documents in these exchanges to avail of maximum limits. The Bitbengrab team will always remain on standby for helping users with questions regarding API permissions and assisting users with specific exchange API docs. Your minimum deposit is as less as $10 and this platform supports all the big crypto assets like Ethereum, Bitcoin, and USDT. Bitbengrab has been set up recently and is yet to become popular but it has had an impressive launch and enjoys a green status.