There is a common belief that Bitcoin transactions are anonymous and untraceable. In addition to that many are still cautious of Bitcoin because of the common opinion that it might be used for shady or criminal transactions. One can understand where these concerns may come from – most of you remember Silk Road. To those who don’t, Silk Road was essentially the Ebay for criminals. Pretty clever in the sense. You could buy drugs, guns or order a hitman. However that party is long over as the FBI shut Silk Road down back in October 2013 and the founder Ross William Ulbricht is serving life in prison.
HitBTC customer support team frequently receives questions concerning trading concepts and strategies. HitBTC public relations team decided to clarify most questionable topics and today we start with an introduction into arbitrage deals in cryptoeconomy.
A definition of Arbitrage
In basic terms, arbitrage is the practice of buying something at one price, then selling it most often immediately afterwards at a higher price via an alternative market. Arbitrage itself comes in many forms, but in all cases the concept remains the same – financial gain through this difference in price. Arbitrage is an essential part of capitalism and occurs throughout the world economy, being a necessary component of a wide variety of commercial transactions. In a supply chain, for instance, goods are produced at one price then sold elsewhere for a higher price.
As you may know, wallet addresses generated prior to September 30, 2014 are no longer valid. The security and safety of our platform for customers is the top priority for us. For this reason, we strongly recommend you to create a new wallet address before depositing coins.
To generate a new wallet address, please open the Account tab, navigate to the Balances section and click Fund. Under the wallet address, click the create new address link.
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