Hi every one.
I will do an update on my Day 5 results but I wanted as promised to share with you my first results on the L7 trade plateform.
As you know, to reach my goal of accumulating 1 Bitcoin starting from nothing in one year, I need to invest as soon as possible the crypto I am accumuting for free (as earning less then 1$ a day with my faucet strategy will of course not be enough).
As I explained yesterday, i have reached the necessary amoutn to start to invest (the equivalent of 0,0002 BTC) on the L7 trade plateform (more on that here) .
What is L7 trade?
First I would like to thanks @Dmitriy192 who shows me this site.
It's an arbitrage plateform. As you the prices of crypto assets might be different from on exchange to another. With this plateform you can buy low on one exchange and immediatly sell higher on another plateform (it's more complex than that but basically it is that). It's a risk free arbitrage.
How much can I make?
The arbitrage opportunities are around 5% but the plateform uses a lot of intermediary to achieve the arbitrage so there are fees involve and in the end I think I will make between 1 and 2% per arbitrage. Assuming I can do it 3 times a day that's an average of 5% a day !
What is the minimum to trade ?
That's why i choose to convert my BTC in XLM : the mimum are very high in BTC or LTC but starts at 20 XLM (around 2$) plus XLM has no fees so it's easier to arbitrate.
***
So I tried yesterday as promised with my 20 XLM earned in 5 days and achieved 1,3% in one trade !
1/ first step : choosing the best price ask and bid prices
Here I choose to sell my 20 XLM at 0.1085 $ on GOPAX and to buy it at the same time on Cex.io at 0,1014 $. You don't need to subscribe to all these plateforms as L7.trade uses intermediaries.
2/ valide the trade
The plateform simulate the impact of the trade : here I will spend 20 XLM and earn 20.2776747 XLM (+1,4%).
3/ That's all !
The plateform does all the process ! Detail below :
You have to wait until the XML are back to your wallet to start another transaction !
Pros :
- seems very serious. You can withdraw money whenever you want (the minimum payment is 10.0000000 XLM with a small 0.5000000 XLM commission);
- it actually works ;
- you can achieve very very good results (1% every few hours).
Cons :
- it seems in the begining complex to use;
- it's not totally passive (you have to check if there is an arbitrage opportunity and execute it). It takes a few seconds every day (not totally passive);
- there isn't always arbitrage opportunity on the market (but very often though ! );
- this type of site will probably kill these opportunities (often arbitrage opporunities don't last as the market become more and more efficient and this site is part of this process);
My plan from now on :
- I 'll continue my faucet strategy and convert every thing I earn daily in XLM to do arbitrage trading ;
- I'll check the opportunity frequently
- I think I can achieve 3/4 % daily with minimum time investment.
If you want to give a try please use my referal link : https://l7.trade/?r=201174635
***
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