Cryptocurrency Q&A
What's the difference between a manual & automated cryptohopper arbitrage trade?
What's the difference between a manual & automated cryptohopper arbitrage trade?
CryptoVisionaryGuard
Mon Jul 15 2024
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5 answers
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Could you elaborate on the key differences between a manual and automated cryptohopper arbitrage trade? In a manual trade, how much of the process is dependent on the trader's discretion and decision-making? Conversely, with an automated trade, what sort of algorithms or pre-set conditions are typically involved? Do automated trades tend to be faster and more efficient? How does the level of risk differ between these two approaches? Is one more suitable for beginners, and if so, why? I'd appreciate a concise yet comprehensive breakdown of the key distinctions between the two.
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5 answers
SamuraiCourageous
Tue Jul 16 2024
It is important to note that for this strategy to be effective, you must possess both USD and EOS balances on both exchanges. This ensures that you have the necessary assets to capitalize on any price discrepancies that arise.
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isabella_doe_socialworker
Tue Jul 16 2024
The essence of a manual arbitrage trade involves purchasing EOS on exchange B and subsequently selling it on exchange A at a higher price, ultimately converting it back to USD. This strategy aims to capitalize on the price differential between the two exchanges.
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Elena
Tue Jul 16 2024
Upon executing this trade, your portfolio would undergo a net increase in USD value, reflecting the successful exploitation of the price disparity. The key lies in identifying and acting swiftly on these fleeting opportunities.
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SumoPride
Tue Jul 16 2024
Conversely, an automated Cryptohopper arbitrage trade utilizes algorithmic tools to automate the entire process. While the approach differs, the end goal remains the same: to achieve a USD gain by leveraging price differences across exchanges.
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Davide
Tue Jul 16 2024
With Cryptohopper, you do not need to manually monitor the markets or execute trades. The platform's intelligent algorithms do the work for you, efficiently identifying and executing profitable arbitrage opportunities.
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