Following the Bitcoin price chart is exciting in its own, but there are also plenty of arbitrage opportunities people can take advantage of. Doing so would require either an account with funds in it or at last an exchange platform with fast deposit and withdrawal methods. The LZF Bitcoin exchange offers exactly that, and there were some interesting arbitrage opportunities already.
In this day and age, Bitcoin trading has to be fast and fierce, which also means Bitcoin exchanges need to step up their deposit and withdrawal methods. Traders are not keen on waiting hours, if not days, for funds to clear before placing new orders. Using arbitrage opportunities needs to be swift, smooth, and frictionless.
Not too many Bitcoin exchanges offer that functionality, but there are a few exceptions to be found. LZF is one of those exceptions, as this Bitcoin exchange platform offers USD deposits in the form of 15-minute wire deposits during banking hours. Granted, this functionality is limited to banking hours only, but it is giving LZF a competitive edge in this jam-packed exchange platform ecosystem.
Late last night, there were some tremendous arbitrage opportunities on the LZF exchange platform. With a price spread of as much as US$65, Bitcoin traders could easily take advantage of the rapidly changing Bitcoin price, and have their deposits clear within 15 minutes. As you would come to expect, it didn’t take long for traders to find out about this opportunity, and the window for quick profits closed rather quickly.
This is why it is so important to keep all of your options when dealing with a volatile Bitcoin prices. Rather than being forced to pre-fund an exchange account balance, it is far more convenient to have deposits clear within 15-20 minutes. Especially when compared to other Bitcoin exchanges, where deposits can take up to five days to be credited.
Up until this point, LZF was not a major name in the world of Bitcoin trading. However, with their fast deposit methods during banking hours, that situation might be about to change sooner or later. Traders have to make the most of these Bitcoin price swings, and LZF seems as good a place as any to do so.
Which Bitcoin exchange has your preference when it comes to exploiting these price swings? Let us know in the comments below!
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter!
Bitwise Asset Management has just made its first move into tokenized funds, and it comes…
Binance just made a move that blurs the line between crypto exchange and traditional brokerage…
NEAR Protocol has had a month that most blockchain projects would stretch across an entire…
Something is becoming increasingly clear about Chainlink, the integrations are not slowing down. The protocol…
Blockchain investigator ZachXBT has flagged a major stablecoin freeze that is sending shockwaves through the…
From a primarily interest rate swap niche product, Exponent has developed into an onchain capital…