One of the great features of TokenPocket is that it combines lots of products and services in one single app. TokenPocket is like the Google Play Store of blockchain applications. Except that it offers additional service by giving secure access to these applications. This access creates a lot of opportunities for TP(TokenPocket) users to conveniently navigate the blockchain space.
Using the TokenPocket app allows you to trade on decentralized exchanges like Newdex.io and centralized exchanges like the TPExchange simultaneous using one single app and device. This makes transferring cryptocurrency from a non-custodial wallet or exchange to a centralized wallet or exchange more seamless. But why would anyone need to quickly transfer crypto from a user-controlled or non-custodial wallet to a centralized wallet? There are many reasons and one of them is arbitrage.
There is an arbitrage opportunity on the TokenPocket app. This opportunity may be gone by the time you are reading this post because arbitrage opportunities have a short lifespan, however, you can check for more opportunities. The EOS/USDT pair on Newdex and TPExchange have different prices- 1.74 and 1.76 respectively. You can make an instant profit by buying EOS from Newdex and selling it on TPExchange. This sort of trading is known as arbitrage.
Note: It’s free to deposit and withdraw
EOS-based USDT on TPExchange.
Arbitrage is a type of trading method where a trader buys currency from one market(exchange) and sells it to another market(exchange) almost simultaneously and at a higher price. The trader, therefore, makes an instant profit.
Financial markets are not perfect and sometimes some markets have a deviation from the market price(fair value) of some assets due to change in demand and supply or other factors. This provides an opportunity for the savvy traders to make an instant profit by buying these assets from one market(exchange) and selling it at a higher price to another market.
Although there is no risk involved in this process, Arbitrage opportunities don’t last long because the market readjusts to equilibrium(equal prices) as more traders know about the opportunity and exploit it. If you learn about an arbitrage opportunity, it’s important that you act fast. In order to get the best out of arbitrage, a trader must have a way to discover the opportunities and act fast. This is why most traders use bots or automatic trading systems as part of their arbitrage trade strategy.
Besides arbitrage, There are many other ways of making money using the TokenPocket app namely, Investing, Trading, Mining, Masternode, Staking, Lending, Airdrops, Dividends, etc. We will explore these ways in another post. In the meantime, why don’t you register on TPExchange?
TPExchange comes with the lowest transaction fees, a sweat user experience and high security. You also get a lot of extra functionality and benefits because it’s attached to the TokenPocket app which gives you access to the world of DApps. TokenPocket is one of the most popular EOSIO wallets with a powerful and secure digital asset management and a DApp browser.
This is part 7 of a series where I take a deep dive into the TPExchange. Click on the following links to read the other parts.
“Part One: “Why you should create an account on TPEXchange”
Part Two: “How to create an account on TPEXchange”
Part Three: “TokenPocket Wallet VS TPExchange”
Part Four: “How to Deposit Cryptocurrency to TPExchange”
Part Five: “How to Trade on TPExchange”
Part Six: “A weird post about $10”
Part Seven: “Arbitrage on TokenPocket Wallet and TPExchange”
