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Have you tried this method of making profit from cryptocurrency exchange

Postby anilmr » 07 Jan 2019, 21:59

I came across an interesting article of making profit from cryptocurrency exchange. I haven't tried it, so can't offer you any proof of profit. This is only for information purpose:

1) First of all you need Bitcoin and Ethereum wallets. Here is one: blockchain.com wallet but you can use all wallets that you like.

2) You need to have at least 40$ Bitcoin (~ 0.01 BTC ) at your wallet

3) Then you need to exchange 0.01 BTC to Ethereum using exchanger cryptocoin24.site on course 0.01 BTC ~ 0.3 ETH

How to exchange here:

- Fill the form and click "Exchange"

- You will see the BTC address of exchanger where you should send specified amount of BTC from your wallet (don't forget about commission for transaction in BTC network about 0.08$)

- You will receive Ethereum after the 1st confirmation of BTC network, it takes about 30 minutes

Now you exchange Ethereum to Bitcoin using exchangers en.changelly.com or alfacashier.com on course 0.3 ETH - 0.0113 BTC

5) So you have ~ 0.0013 BTC (more than 5 $) profit per one circle of exchanges!!!

6) Repeat this procedure 15+ times and your profit will be more than 60$!!! If you start with a larger amount of BTC profit will be higher.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby darkthorn » 07 Jan 2019, 22:34

I've seen that before but I never tried, but I do something similiar with other cryptocoins and yes you can make some money acting that way :)
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby Vehlijanta » 08 Jan 2019, 01:36

That's crazy and do you have the required bitcoins to try.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby augusta » 08 Jan 2019, 01:45

This look simple to do and even make more money with it but you can't be so sure since you haven't tried it. Most things on paper never turnout like the way it was expected.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby cinderella » 08 Jan 2019, 02:57

Bitcoin is an interesting thing to try. In fact, I earned most of my bitcoins in the past for free. Though the required thing is time because you need to monitor the movement of the coin. I am not setting aside this idea and hope to find more time to learn about it.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby tusziget » 08 Jan 2019, 04:59

I have never tried it out.Though I wonder, because the value of the cryptos are changing in the same way,when there are fluctuations in their value,so I don't know how it is possible to make profit out of it.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby skysnap » 08 Jan 2019, 08:43

I have seen this happening in many places that they lose some money in the exchange. And that happens because nobody pays attention to the changes in the fluctuation of prices.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby Chameli » 08 Jan 2019, 09:36

I have heard about this system of earning crypto currency, however, I have not tried myself. I don't think this works as no one is giving free money.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby riddy09 » 12 Jan 2019, 10:48

It's like you used the different exchange difference of conversion of two cryptos. Although, I just feel they must have high fees to exchange though so it should be lower or not profitable.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby oldbuddy » 12 Jan 2019, 16:38

If you try it and anything goes wrong, you are stuck paying all the fees only to lose money. I would rather buy cheap advertising with that Bitcoin and promote something to the thousands of people who have Bitcoin and are looking for something to spend it on.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby anilmr » 12 Jan 2019, 22:29

oldbuddy wrote:If you try it and anything goes wrong, you are stuck paying all the fees only to lose money. I would rather buy cheap advertising with that Bitcoin and promote something to the thousands of people who have Bitcoin and are looking for something to spend it on.

Yes, you are right. If something goes wrong, one will surely lose on the fees. That's the main reason I am quite wary of it and have never tried it myself. I could try for smaller amounts if I get positive reviews about the site and proof of profit. Till then, it is wait and watch!
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby MysticMoons » 13 Jan 2019, 08:39

I have never tried this before. I am not sure if it will ever work. But we have
to be careful who we give money to. But I have not tried doing this with exchanges.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby mrki444 » 13 Jan 2019, 08:56

Weird is than you didn't mention fees. Every Exchange site take some fee on transaction.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby ceci » 13 Jan 2019, 10:37

Yes, the fee could eat up a big portion of the capital itself.
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Re: Have you tried this method of making profit from cryptocurrency exchange

Postby anilmr » 16 Jan 2019, 00:30

ceci wrote:Yes, the fee could eat up a big portion of the capital itself.

Yes you are right - fees could be a real issue as far as profit is concerned. I have clearly mentioned in my post that I have not tried it myself. I just came across the article related to this concept in an ad while browsing the net, and I just wanted to share the concept only for academic interest.
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