2021-08-09 14:51:48
NEW PROFITABLE CHAINLINK ARBITRAGE
I've just updated the arbitrage opportunity. Many of my 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
I am bringing you an updated step-by-step guide for a new arbitrage opportunity I 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 tokens are locked there at a fixed price of 1 ETH = 170 LINK, that's about a 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. I 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: 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/6078
ATTENTION - Do NOT use any other swap links or pool IDs! Only the link provided here will redirect you to the official Bounce Finance Swap. This is the only swap link that has been tested by our community and the only one that works successfully! - ATTENTION
5. Fill out the amount you want to swap. The minimum is 1 ETH, however I can highly encourage you to swap a higher amount. There currently isn't a limit per wallet, so make sure to take advantage of it. I'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 ChainLink tokens you might need to add them manually. Go to "Add Token" - > "Add custom token" and paste there this contract address:
0x1D41df92B5542BED1FFB73252cB1c99fcfDf277F
Click next to proceed. You will be directed to confirm adding token. Click “Add Token” to confirm. After doing that, you'll see your ChainLink 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 ChainLink balance.
7. After finishing the swap (or multiple swaps) you have 2 options. You can either hold your ChainLink tokens or sell them on Binance or another exchange. The current price is about 1.3 ETH for 170 LINK (about 30% profit over the fixed swap ratio on Bounce.finance).
I hope you enjoyed the step-by-step guide, which we provide completely free of charge!
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