New Series: Making Money with Crypto, Part 1
Be One users,
We have seen you use Be One in so many creative ways to make money, taking advantage of our advanced features that give you better rates, faster transactions, etc… So we thought, “Let’s compile these into a series that all users can benefit from!”
So here we are!
Clearly, people like the ability to make additional income, and crypto is definitely full of opportunities. Crypto is an exciting new world to discover, but always be careful and do your own research. Let’s explore some of the ways Be One users make money in crypto:
Part 1: Crypto Arbitrage
Crypto Arbitrage is a trading strategy, in which a person buys crypto on one exchange and sells it on another exchange to make profit from the price difference between both exchanges. This type of strategy exists in the traditional markets, and is one of the ways that @FTX_Official got started according to @SBF_FTX. Sam found that #Bitcoin prices were different on different exchanges in different countries, and would buy #Bitcoin at the lowest rate to sell in another country at a higher rate. This provided an immense source of income for them to build FTX into the powerhouse it is today.
Risks
Crypto Arbitrage sounds easy, but it comes with many risks.
Fees: Arbitrage trading involves more than one exchange which requires withdrawal, deposit, and trading fees. When fees are too high it consumes your profits. Using crypto Apps like ours (@BeOneFinancial) will help reduce fees and maximize your profit.
Timing: Crypto arbitrage trading is time-bound, the price difference between the two exchanges tends to reduce and disappear with time as more traders capitalize on a particular arbitrage opportunity.
Regulation and Compliance: Different exchanges and countries have varying regulations around trading, crypto, reporting and more, so be aware of these before you transact there. These can bring risks such as frozen funds, which can be scary as you may not be able to withdraw them.
Other: Human error, such as sending your funds to the wrong wallet, is always a risk in crypto. Be careful to always triple check addresses and other things, and always do your own research before proceeding with a new platform/currency.
How does Be One help?
Simple, our game-changing Exchange Aggregator is your secret weapon for successful arbitrage trading.
The key to arbitrage trading is ensuring you start the process with the best rates possible. Traditionally, people would have to search every platform and exchange to find the best rate, which can take a lot of time and effort… and often when they find a good rate it changes as things move quickly in crypto!
Be One has built in an Exchange Aggregator, which automatically sources the best rate across many centralized and decentralized exchanges. Unlike other platforms who give you “their” rate (and often don’t even tell you their fees), with Be One you can be confident you are always getting the best rate possible, with the lowest fees clearly demonstrated before you complete the transaction.
How to get started:
- Download the @BeOneFinancial App, complete KYC
- Register with other exchange(s) to compare rates
- Buy crypto with Be One’s exchange aggregator
- Transfer it to the other exchange to sell at a profit
- Withdraw your funds
Finally, do a little dance, high five anyone around you, and repeat the process at will.
Happy arbitrage trading Be One Fam! Let us know of your successes, or reach out if you have any questions, we love hearing from you!
Lots of Love,
The Be One Team
