2021-07-01 18:01:42
NEW PROFITABLE CHAINLINK ARBITRAGE
We've just updated our arbitrage opportunity. Many of our community members already made huge profits. Read the text below to find out more!
STATUS: Updated and Working
PROFIT: About 30%
RISK LEVEL: Risk Free
We're bringing you an updated step-by-step guide for a new arbitrage opportunity we found recently. This arbitrage involves Ethereum (ETH) to ChainLink (LINK) swap. By the current market price the profit is about 30%! That means we can turn every 1 ETH to about 1.3 ETH in a few minutes only.
Is this legit? Is there any risk with this strategy?
Yes, it's completely legit. There's no risk, because we'll be using a proven and trusted Ethereum smart contract directly. Essentially we'll be swapping ETH to LINK on a decentralized platform called Bounce.finance. It's a platform used by thousands of people for automatic token swaps. The Chainlink(LINK) tokens are locked there at a fixed price of 1 ETH = 140 LINK, that's about 30% profit compared to the market price on Binance. The smart contract swaps us the ETH to LINK automatically, so we don't have to worry about not getting the LINK tokens in return. That's what's so great about decentralized smart contract swaps, they're risk free and can provide profitable arbitrage opportunities.
Step-by-step
1. We'll need Ethereum (ETH) for this arbitrage opportunity. In case you don't own any, feel free to buy it on any of the popular exchanges such as Binance, Coinbase etc. Make sure to have at least 1.05 ETH (1 ETH is the minimum swap amount + a little more to cover transaction fees). In order to see the correct fee your ETH has to be in your wallet already.
2. We highly recommend to use the Metamask wallet. It's a browser extension for the Chrome browser. You can install the Metamask wallet from this link:
Chrome Extension https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn?hl=en
3. Set up your wallet and don't forget to backup your security seed phrase. After setting up the wallet send your ETH to it.
4. We'll use a platform called bounce.finance for the swap. It's a decentralized platform that works as a swapping smart contract. Go straight to this link of the swap and connect your wallet:
(https://app.bounce.finance/fixed-swap/6011)
5. Fill out the amount you want to swap. The minimum is 1 ETH, however we can highly encourage you to swap a higher amount. There currently is a limit of 20 ETH per wallet, so make sure to take advantage of it. We've personally used bounce.finance many times with swaps of 10+ ETH.
6. Click on "Go" and confirm the transaction in Metamask. You'll need to wait for the transaction to get confirmed. After that the LINK tokens will be transferred to your Metamask wallet immediately. To see your newly swapped LINK tokens you might need to add them manually. Go to "Add Token" -> "Add custom token" and paste there this contract address:
0xE46dd1f55542F04490bB02806e11B426ddf6C89c
Click next to proceed. You will be directed to confirm adding token. Click "Add Token" to confirm. After doing that, you'll see your LINK balance in your Metamask wallet and be sure, that the swap was successfull.Now you can go ahead and swap a higher ETH amount to maximize your profits, you can make multiple swaps from the same Metamask wallet. There's no need to add the token manually after doing the next swaps. They will be added to your existing LINK balance.
7. After finishing the swap (or multiple swaps) you have 2 options. You can either hold your LINK tokens or sell them on Binance or another exchange. The current price is about 1.3 ETH for 140 LINK (about 30% profit over the fixed swap ratio on Bounce.finance).
I hope you enjoyed the step-by-step guide I shared with you completely free!
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