We’ve decided to do a deep dive to see what motivates a new crypto trader to enter the market, looking at their priorities, concerns and the reasons behind their choice of platform. Today, we are speaking to James Anders about his decision to sign up with ArbiSmart, a new up-and-coming arbitrage platform that hit the market in early 2019.
What made you decide to try arbitrage crypto-trading?
I got into crypto-trading relatively recently, after starting out trading regular fiat currencies. I had some bad experiences with less than reputable brokers and was looking for a completely different way to invest when I heard about arbitrage trading. It offers a great way to continue earning some extra income with a lot less risk.
Basically, the way it works is that an automated system buys low on one crypto exchange and then instantly sells at the highest available price on another one. So, the system is constantly scanning multiple exchanges, taking advantage of price differences to earn the best possible profit on every trade, while seriously reducing your exposure.
Using an automated system lets me get out of my own way, preventing me trading emotionally. I can sit back and watch it work and know that it will get most profitable result possible, every time.
What made you choose ArbiSmart?
I was looking for a platform that met a few essential criteria.
My first priority was a platform that was reliable and regulatory compliant. This time around I was looking for a fair and safe experience. I wanted peace of mind and to know my investment was in good hands.
It was also important to me that I could access my money whenever I want to and in that respect as well, ArbiSmart has established itself as a trustworthy investment option.
What has your experience been like using the platform?
What most surprised me was that it was incredibly easy to use and I was set up really quickly. Any time I’ve had a question the support team has been first class. They’re available whenever I need them by phone, Whatsapp, mail and loads of other channels.
Also, ArbiSmart has a really stable platform and I haven’t experienced slowdowns, system errors, or downtime, so I don’t worry about missing opportunities.
Have you earnings met your expectations?
In the past, I’d made strong profits, particularly in the beginning, but the peaks were frequently followed by major troughs. One of the major pluses with arbitrage and with ArbiSmart in particular, is that while the crypto markets are volatile, I’ve earned steadily without the huge downside that can come with trading cryptocurrencies independently.
How secure did you feel using the platform?
Security is a major factor for me. Firstly, as a blockchain-based system, ArbiSmart is already set up to offer improved security and transparency. It also meets all the regulatory requirements so I feel my money is being handled safely and honestly.
Also, ArbiSmart has taken the extra step of having a risk management team working around the clock to provided an added layer of security. They make sure that I’m not just relying on an algorithm to take care of my finances, but that there is human oversight acting as a fail-safe.
What would you tell other people considering entering into the world of arbitrage?
My main tip would be to find yourself a reputable company which will comply with regulations.
Then, just go for it! But, don’t assume that just because a machine is making the decisions there is no risk and it is all upside. You are still responsible for your investments and your choice of cryptocurrencies, as well as when you choose to make a transaction. But, you will lower your risk significantly and the system will make the best arbitrage deal available for you and get you the most potential profit whenever you trade.
I made up a random name- feel free to change it