Ask Leo: Is Crypto Arbitrage Trading A Scam?
Hey friends, today I was watching a video on YouTube with a friend. The video was about crypto arbitrage trading. I went on to play other recommended videos related to crypto arbitrage trading and this my friend says crypto arbitrage trading is nothing but a scam.
When I asked him of his reasons for calling it a scam, he told me it looks too good to be true, it's too easy.
In case you find yourself in the same mindset as my friend here, this is for you.
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The fact that YouTubers have made it easy for you to understand in a 5 to 10 minutes video, does not mean you will find the arbitrage trade easy and make money in 5 to 10 minutes.
The YouTubers you watch are only trying to show you the opportunity there is, and to make you understand the concept of Arbitrage Trading in general.
The 5 to 10 minutes video is not enough for you to make any conclusions unless you have a previous experience before watching the video. It's only a starting point.
You need to dedicate more time to learn the trade, you need to learn how to identify the Arbitrage opportunity, you need to learn when to buy low, and when to sell.
The fact that the video you watched is about earnings/gains doesn't mean arbitrage is only about gains. As with any other trade, you may earn and you may lose money/crypto.
The fact that the video you watched is 5 to 10 minutes long doesn't mean you'll be making money every 5 to 10 minutes, hehe. Common, it's not like that, but there a huge opportunity to make money in arbitrage trading.
I read the story of Sam Bankman-Fried the CEO of FTX. He is one of the youngest crypto billionaires. Sam Bankman-Fried became rich doing crypto arbitrage trading and anyone can do it.
Don't get me wrong, I'm not saying you can be as rich as Sam Bankman-Fried but there is money making opportunity in crypto arbitrage trading. Just take your time to learn the trade.
Thank you for reading my post.
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