What Do You Think Of Arbitrage Trading Bots?
Been a long time I spoke to this long time who randomly sent me a message talking about some arbitrage trading opportunities. I have always loved arbitrage trading because it is one of the lowest risk investment you can earn money from. If fine right and when you use the right platform, you can comfortably be making decent money. It’s basically looking for crypto sold at a cheaper rate on other exchanges and selling them at a higher rate on other exchanges. My longtime friend said he just found a platform that has arbitrage trading bot that helps you trade arbitrage. Well, I have been hearing of trading bots for a long time but never used it or know how it works. But hearing about arbitrage trading bots, I thought of how it’s not a good idea. So I told him to send me the site.
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He sent the site to me and the site is basically all about, sending money based on their packages to certain addresses and these addresses are expected to trade for you and at the end of the day you get sent your profit. I have been in crypto for a while to know that this is a pure scam. First of all it’s highly centralized, you have no control over your money the moment you send the money to the provided wallet address. If they decide to run away with your money there is nothing you can do. The second reason I called this a red flag is because they don’t have a Twitter account. Any project that doesn’t have a Twitter account or discord channel is not to be taken seriously.
Twitter is a platform with different communities where people can talk about their experiences. This makes it easier for you to read what other people think about the project you are about to invest in. If a platform is promising you some profit, do your research to try to know what others think about it, others who have used it should have something to say. Don’t just throw your money into it, know how it works, know how risky it is, besides if it’s highly centralized you are definitely the liquidity. You will stay out of more financial trouble if you did more research and stay patient enough till your research is positive enough to let you invest.
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