How to use PayPal for arbitrage in Nigeria

Paypal arbitrage with good profit

The ability to arbitrage is usually enabled by a discrepancy in trading volumes between two markets. The rationale for this is simple: prices are often lower in a market with substantial trade volumes and reasonable liquidity of a particular coin. Meanwhile, in a market where a particular coin’s availability is limited, it will be more expensive. Traders can possibly profit from the differential by purchasing from the former and immediately selling on the latter.

How to do PayPal arbitrage in Nigeria in 2022

There are multiple strategies arbitrage traders can use to make a profit, including the following:
  • Simple arbitrage. Buying and selling the same coin immediately on separate exchanges.
  • Triangular arbitrage. This process involves taking advantage of the price differences between three currencies. For example, buy BTC in USD, sell it to make EUR, and then exchange those EUR back to USD.
  • Convergence arbitrage. This approach involves buying a coin on one exchange where it is undervalued and short-selling the same coin on another exchange where it is overvalued. When the two separate prices meet at a middle point, you can profit from the amount of convergence.
Now to do this,
  • You need two PayPal accounts (One Nigerian PayPal and another foreign business PayPal).
  • A wise(formerly transfer-wise) account
  • Or Payoneer account
  • A binance Account
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Now the business is for you to send money from your Nigeria PayPal to your Foreign paypal and then withdraw to your wise account and then sell on binance p2p.
  • Always use the same currency to avoid losses due to PayPal conversion rates and fees .
  • You would be charged $5 as fees for every $100.
  • Withdrawal from Paypal to bank is free.
  • Nigerian PayPal cannot receive but I recommend a UK PayPal as you can verify it easily unlike the US paypal, but if you prefer the US PayPal Account, you can do so.
  • When ever you send money from Nigeria, you would have to wait 48 hours to confirm payment before the money can be accessed on your Foreign PayPal account.
If you have any questions, ask in the comment box and I will attend to you

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