Crypto arbitrage robots are full of BS
In Malaysia, there is a company claiming to have a cryptocurrency arbitrage robot and they are currently recruiting heavily using MLM style uplines and downlines. The robot is advertised as a software that will detect price differences of cryptocurrencies in different regions and capitalize on it by buying at a lower priced region/exchange and selling it at a higher price region/exchange. Deposits are made in USDT, a stable coin.
One of the selling points of cryptocurrency schemes over forex schemes is the fact that cryptocurrency trading can be traded 24/7 every day, unlike forex markets which close over the weekend. Other points include low risk, earning money while sleeping, risk management, world-class security, automated arbitrage, automated spread earnings, money printing machine, and easy money.
However, this whole scheme is a confirmed scam sham investment scheme. It is reminiscent of the huge collapse of cryptocurrency platform FTX and Alameda Research in the United States. If the arbitrage robot is so good, why would the company want to share the software with the public? They could easily raise money/capital from private venture capitalist. These so-called robots are no different from forex trading black boxes that automate forex trades. Even if the algorithm works initially, it will eventually stop working as it competes against other arbitrage robots with far superior AI and machine learning.
It is essential to be cautious and careful when dealing with such investment schemes, especially those that claim to have automated software that guarantees returns with little or no risk. It is important to research and seek professional advice before investing in any scheme.
#FTX #AlamedaResearch #robotarbitrage