Friday 27 January 2017

Using Nigeria's rates to arbitrage


Recently I saw a post about the Nigerian exchanges and i realized that the buying/selling rate there is 20-30% different that the EU and US rate.That means that the people in Nigeria buy at +30%, BUT that also means that the Nigerian exchanges buy at +25%.Simple math:Buy rate at BitFinex at 05:00 GMT = $918Sell rate at Naira Exchange at 05:00 GMT = $1147 via /r/Bitcoin http://bit.ly/2kDrlXB

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