I've been away for the whole day today, and that was because of some fun things I've been doing.

Recently, I decided to go ahead and start trading XAUt/USDt on Bitfinex for some quick profits. I bought $50 worth of Gold, which was amazing to me at the time. Little did I know what was coming.

Equally recently, XAUt/BTC pair was released. I've more or less been wishing for this kind of pair, so I moved quite a bunch of BTC to Bitfinex to be able to trade the pair. And boy, what a show!

I'll detail my experience below, but first a quick rundown of some important terms if you read the first few lines of this and were confused for some reason.

XAUt is Gold Tether or digital gold. This crypto coin was released by Tether, the company behind the USDt, as well as a subsidiary of Bitfinex. The parent company of all of them is iFinex, which is based in Malta.

Alright. Let's get started!

So having moved some BTC to my Bitfinex account, and paying the obnoxious 0.0004BTC withdrawal fee that Binance put there, I had my BTC safely in my Bitfinex account. It was time to start trading the pair.

This is a screenshot from my Bitfinex Android app. I blurred out my rank because I didn't want anyone to search up my name and whatnot. 

I bought where the green candle is, and I sold where the red candle is. It was pretty hard to get the exact position of these prices, especially on a mobile phone, but those are my exact entry and exit points.

As you can see, I entered the market at exactly 0.16900, and exited the market at exactly 0.17300, giving me a 400 pip profit, which is obscene!

Converted to percentages, that means that on my 0.16900BTC investment, I made about 2.36 which is great for a pair with almost no volume, because of how expensive it is.

I couldn't make too many moves though because of the obvious fact that I was watching a 3-hour graph. Any shorter time frame would have made me a few more pips here and there, but I'm happy with the overall result.

That said, the pair moves quote slowly now. I would refrain from trading it until volume increases a bit. I would however definitely trade this pair when all is right with it!

Thanks for reading!