Ways To Profit With Bitcoin
Secret to Making Huge Income with Bitcoin Arbitrage
Introduction: What is bitcoin?
Bitcoin has taken the world by storm. It has changed the way people view money and has threatened the financial institutions. Bitcoin has the potential to dwarf the monetary system that is centered on the banking moguls. So what the heck is bitcoin? Bitcoin is a peer to peer digital currency that is completely decentralized and does not require any bank for the transactions to be completed. All bitcoin transactions are published on a public ledger called the blockchain. The transactions are confirmed using mathematical problem solving with computational power called hashing. The process is known as bitcoin mining. Bitcoin mining is the foundation of blockchain transactions.
While a lot of governments and large financial institutions have tried to play down bitcoin, it has stood the test of time and it is there to stay. Here are the few reasons why the governments are trying to block bitcoin use and use all the tricks in their bags to suppress it… Bitcoin is difficult to police, the transactions with bitcoin can be as anonymous as you want them to be, hence impossible to implement revenue tax. Also with bitcoin it is difficult to enforce financial sanctions on anyone, because you can do a deal with anyone in the world in minutes without the involvement of the central banks. Financial institutions hate bitcoin with passion because they are excluded as middlemen; they usually take a commission on every transaction that they process for you. With bitcoin, no bank is needed and no commission for them.
With the current monetary systems the banks can create money out of thin air using what they call “fractional lending”, with bitcoin it’s impossible to do this. So here you have it! You will discover that bitcoin will be criticized left right center by governments and financial institutions, mainly because they cannot control it.
While a lot has always been talked about bitcoin as a negative and disruptive technology, the fact is the good outweighs the bad. So let’s talk business! How you can take advantage of bitcoin to make loads of money with ease. In this short book I will show you step by step, how you can pull it off. I will reveal 3 different ways you can profit from bitcoin.
A lot has been discussed in many books about how to arbitrage bitcoin, however the methods barely work. Taking advantage of price difference between two different Bitcoin exchanges, the arbitragers of bitcoin endeavors to find bitcoin at a lowest possible price and then sell at a high price and the difference in price will the profit. What they don’t tell you is that each exchange has a commission they charge for transactions executed and these commissions cut in on your profits and in some instances you will find yourself running a loss. The first method you will learn in this book will show you how to buy bitcoin low and sell high within the same exchange with zero transaction fees. The second method will show you how
to you two different exchanges, however not in the traditional way. Lastly I will show you how to use peer to peer platform to sell bitcoins at a high price and buy from an exchange at low price.
What is Bitcoin Arbitrage?
Just like with any financial commodities, Bitcoin Arbitrage simply means buying bitcoin low and sells it high simultaneously on two different bitcoin exchanges.
Which exchanges should I register?
To get the ball rolling here is the list of sites you need to register. They are all free registrations:
Payeer – Register Here: Payeer is an online wallet services that allows you to send and receive money instantly from anywhere in the world. They also have a currency exchange service, which allows you to exchange USD for Bitcoin, RUB for Bitcoin & EUR for Bitcoin.
Changer – Register Here: Changer is an instant exchange services that allows you to transfer money from different online wallet such as payeer to Okpay, BTC to Payeer, and so forth
Paxful – Register Here: Paxful is a peer to peer platform where you can buy or sell bitcoins to other members anywhere in the world.
First Bitcoin Arbitrage Method
The first method involves using only Payeer, so I trust you have already registered your account and familiarizes yourself with the member’s area. See Image below:
Inside you member area you can add funds in USD, EUR, RUB or BTC. To add funds in fiat currency you may have to attach a credit card to your account. If you already have bitcoins you want to start monetizing, then you can also add them without any need for a credit card.
Once all have added funds to your Payeer, the next step is to click through to the exchange, then select currency exchange as shown in image below:
When you get in the exchange you can see the list of exchange offers. The prepopulated list is for USD/RUB. You will have to change to USD/BTC or BTC/USD. The top most offers are the best priced offer, but do not mean it will automatically get you into profit. The current BTC price on market will have 0.00% in front of the exchange. Once you figured the current rate the you can create a new request by clicking on “new request” button, then input the amount you have in USD on the giving box, change the receive box from RUB to BTC using the dropdown menu, this will pre-populate the current market value. Don’t change the values, click “pay request”
If your account has been funded with bitcoins or you have bitcoins already in your account, youll need to create a new request. Changed the currency on the drop down box “Give” from USD to BTC. Enter the amount of BTC you would like give in return to USD. On the receive drop down box select USD as the currency you would like to receive. Once all the is set, click the radio button “fix” under the give button, this will allow you to change the exchange rate. Important! Change the amount in the Exchange rate to the maximum possible.
Now that you have created your new request, you wait for someone to order your request. This usually takes 6 to 24 hours, sometimes more. Once your bitcoins are bought your balance will reflect immediately, so you will need to create a new request as soon as possible. The new request you will create is for USD to BTC by clicking on “new request” button, then input the amount you have in USD on the giving box, change the receive box from RUB to BTC using the dropdown menu, this will pre-populate the current market value. Don’t change the values, click “pay request”. Then you wait, takes another 6 hours+ before your order is pickup by someone else. Effectively you have sold bitcoins for the highest possible and buy them again at the normal rate, the difference being your profit in less than 24 hours. Let’s talk figures here: At the time of writing this guideline the market value of Bitcoin is USD $741 and you can sell Bitcoins within Payeer for maximum of USD $763. The profit you make is USD $22 if you are flipping only 1BTC. So if you have good capital and let’s say you are flipping 6BTC per transaction, that’s 22x6=$132/day and more than $2,600 per month for a task that task only 10 minutes a day.
You can even repeat this process more than once in day during some good days. Also you can literally start this with at least 0.1BTC to get reasonable profits for your efforts.
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Second Bitcoin Arbitrage Method
This strategy includes two exchanges Payeer and Changer. I believe you have already created your Payeer and changer accounts, if not follow the link below to create your free account before you continue reading this guide. Create Payeer account
Now you are set up with your Payeer & Changer account, here is how you go about arbitraging bitcoin with these two exchanges. Changer allows you to instantly exchange your bitcoins into USD$ to your Payeer account. Changer usually offers a very high rate for your bitcoins, which is in most cases $20 more that the current market rate. Once you exchange bitcoins to $ and your balance is reflected in your Payeer account, you then need to go to the Payeer exchange an click on currency exchange, change the options to USD/BTC, you can the purchase bitcoin by clicking on the exchange id. If the rate is $10 or more below the rate you have sold the bitcoins it will be worth the take. You can then complete the exchange as indicate in the diagrams below. So with this method you will potentially make $10 for every exchange you complete. You can potentially make more by creating new request for USD/BTC and choose the current market rate; this can potentially see you with $20+ profits from the completed transaction.
To successfully pull of this method you need to see a suitable exchange offer on Payeer before you initiate the instant exchange with Changer. For example, if you check on the Payeer USD/BTC exchange and see an offer to buy bitcoin for $741 and at the same time to sell bitcoin on changer you get $760. Note that the least amount you can make sound profit with this method is roughly 0.2btc anything below that might result in a break even or loss due to fixed commission of 0.9% when purchasing from a listed offer.
Similar to the earlier method this method will benefit you more if you have more running capital.
Third Bitcoin Arbitrage Method
This method has the highest profits; however it’s a little bit risky as well. This involves listing your bitcoin ‘SELL’ offer on paxful and only accepting payment via Payeer. The trick here is that you offer will be 5-10% higher than the market rate. At the time of writing this guide the market value of 1BTC is $741 on Paxful you will be able to sell 1 bitcoin with ease for $800+, this is largely because a lot of people are speculating that bitcoin will be worth over $5000 in the next few months. Maybe by the time you are reading this guide BTC has already reached their prediction, if not you still can make money with this technology. Ok, back to business! Now that you can sell bitcoin for $800 and buy bitcoin for $741 or even $760, your profit will be in excess of $40+
I trust you have already accessed your Paxful account and familiarize yourself with the member area. Once you are in the member area you can click the drop down icon “buy bitcoin” the select create new offer. Choose your payment method as Payeer. After completing the required details to list your offer, click advanced settings and tick both email & phone verified members to view your offer.
This brings us to the risk part of this method. If you are not familiar with social engineering scams or hacks, they do happen on this platform and other similar platforms like local bitcoins. The most common ones are, a potential buyer contacts your and they want you to either accept their term or verify your email, then provide you with a link to click, that link will direct you to a cloned site similar to the original site you are, in this case it will be looking like paxful. Then you are required to enter your login details and your 2 factor verification, which the scammer will then have access to and will use that to access your account the wipe out your bitcoins….so be
careful. The other one is someone appearing to be friendly then ask you to loan them some bitcoins promise to return then in 24 hours with a markup, da don’t fall for that. Your business on paxful is to only release bitcoins to
the buyer only when you confirm the payment has been successfully transferred to your Payeer account, period!
The first method is the one I strongly recommend because has the minimum risk. However has the least profits compared to other methods. So to start getting your feet when and get acclimatized to working with bitcoin, just stick to the fist method.
Legal Notice: I cannot legally guarantee anyone can make money with this method and will not be liable to any damages or losses incurred. This guide is only for information purposes. Please take due diligence when doing any deals online.