bitRage the Crypto Arbitrage Bot Revealed
This article was first released on VIRALTrading
Crypto Arbitrage bot, bitRage!
bitRage is the only Cryptocurrency Arbitrage bot capable to scan over 136 Crypto Exchanges 24/7 looking for variations in the price of the selected coins on different markets in a very large spectrum of opportunities and firing profitable Trades
What Exactly is Arbitrage?
According to Investopedia: Arbitrage is the simultaneous BUY and SALE of an asset (crypto coins in our case) to profit from an imbalance in the price. It is a trade that profits by exploiting the price differences of similar financial instruments in different markets or in different forms… but bitRage do more than just that, in fact, it does way more than just “triangular arbitrage”
Cryptocurrency Arbitrage bot Explained
Allow me to give you a simple example of what bitRage the Crypto Arbitrage bot can do:
You have 2 Base coins and 1 Quote coin in your chosen exchange USDT (base)-BTC (base) and LTC (quote) the most simple operation bitRage will do here is to buy LTC with USDT sell that LTC for BTC and finally sell BTC for USDT, keep in mind this is the simplest thing it can do, so the result, in this case, will be more USDT than you had before the operation, fees, of course, are accounted for by the bot.
To give you a better idea: With the USDT-LTC-BTC triple, bitRage will look for any combination of trades that will earn you profit at the end, examples could be: sell/buy/sell, buy/buy/sell… and so on, with gain at the end as the main purpose, but it won’t stop there, it will even check for the most profitable order type, firing either Market, Limit Orders or even Close the Spread, whichever is more profitable the bot will go for it.
Logic and Workflow of our Crypto Arbitrage Bot
1- Starting point if we have enough Base coin the bot will fire the first trade
2- If there are no open orders on the first pair will fire second trade
3- If there are no open orders on the second pair will fire third trade
If the 3 opportunities where Market Orders, that’s it, we profit, rinse, and repeat… But if the bot fire Limit Orders this will happen next:
4- If first trade gets canceled, the stage goes back to null and we start from point 1
5- If a second trade gets canceled, the stage goes back to stage 1 and we start from point 2
6- If a third trade gets canceled, the stage goes back to stage 2 and we start from point 3
7- Every time one of the above points goes to open orders block: we give that single pair to our beloved Gunbot to take care of any failed stage, then the first one between bitRage and Gunbot that sells, resets the stage if Gunbot will set to null if bitRage will go to the next step.
Gunbot the crypto trading bot will help us to get rid of any bags that could be created in the process, and here is the good news, You can Upgrade ANY License of Gunbot you currently own by just buying more Gunthies, the process is AUTOMagic, but what if you don’t have Gunbot yet? Don’t worry about it either, we have an army of Gunbot Authorized Resellers that will take care of You!