A Super Simple Cryptocurrency Arbitrage Tracker Application : Coingapp
What is Arbitrage?
In a nutshell, arbitrage (when it comes to trading) is a strategy to take advantage of differences in prices across markets to make profit.
The prices of cryptocurrencies like bitcoin and other altcoins vary on various exchanges, due to the fact that the markets are not directly linked, and the trading volume, on many exchanges, is low enough that the price does not adjust to the average right away.
What are the keys for applicable transaction ?
• Volume quantity is one of the most important criteria to be considered. If a cryptocurrency has barely any volume or so low volume, you will not be able to sell easily, or at a reasonable price.
• Offline wallet is also the main reason of unsuccessful transfer. Exchanges may disable deposit/withdrawal or suspend transactions. This causes starting a transaction that we can not complete successfully.
Other things to pay attention !
Trading with cryptocurrency requires caution. You also need to consider the following situations.
- Fees can eat into profits from arbitrage quite substantially. These include maker fees, taker fees, deposit/withdrawal fees, etc.
- Crypto is volatile. It takes time to move a currency from one exchange and the price could have rapidly changed. It is better to have amounts of the currency already available at each exchange
What does Coingapp do?
Coingapp is a mobile application, available in AppStore and PlayStore, offers to catch cryptocurrency arbitrage opportunities depends on ask and bid prices between exchanges. It provides monitoring all available opportunities, and tracking instantly via single refresh. Allows to get notified with push notifications.
Coingapp provides to monitor these important situations for each coin and exchanges within Status Flags.
- Green : Convenient trade.
- Yellow: Low volume transaction pair. Be cautious!
- Red : Deposit/withdrawal is disabled or offline wallet. Do not trade!
and also shows which of these exchanges are unavailable (‘locked’).
What else Coingapp offers?
- Show or hide option for Enabled/Disabled/Offline wallets.
- Define a low volume and hide (or warn) transactions below this value.
- Filter currency pairs based on BTC, ETH, USDT, USD, EUR.
- Filter your favorite exchanges.
There are several products, websites, spreadsheets that you can track arbitrage opportunities. Coingapp simplifies this process and helps you to find best opportunities with additional key features.
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