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Knowru: Creating An Api To Real-time Calculate Bitcoin Arbitrage Rate Of Return

Knowru: Creating An Api To Real-time Calculate Bitcoin Arbitrage Rate Of Return

Creating an API to real-time calculate Bitcoin arbitrage rate of return The strict regulation on Know Your Customer (KYC) and Anti Money-Laundering (AML) policies in Korea is creating a strong and consistent arbitrage opportunity using Bitcoin. This blog post will talk about how I created an API that calculates the arbitrage rate of return real-time. An article says: The South Korean bitcoin exchange has presented excellent arbitrage opportunities for traders. South Korean bitcoin exchange have always demonstrated a high premium on their listed bitcoin prices and trading rates. Step 1. Sell USD, buy Bitcoin (in an exchange of your preference) Step 2. Sell Bitcoin, buy KRW in Korbit (an exchange) It'd be cumbersome to get exchange rates from multiple exchanges and calculate an arbitrage return every time. Instead, this blog presents a way to build an API that automatically calculates the arbitrage return for you using Knowru. The service is publicly available so you can use it as well (see this page (ID: demo, PW: KnowruForAPI!)). As of June 16, 2017, an arbitrage opportunity still existed. The purpose of the material here is to show how easy it is to create, customize, maintain and use APIs using Knowru. Though the trading strategy here is based on a realistic scenario, you should take the material as a fun, interesting reading rather than a serious, professional article on trading and Bitcoin. Step 1. Write a script that calculates the rate of return I got the latest exchange rates for the the three steps as below: In essence, I combined these three APIs that return exchange rates real-time to calculate the arbitrage rate of return. I am using Python 2.7 and created a virtual environment to manage packages. ~/$ mkdir bitcoin_krw_arbitrage~/$ cd bitcoin_krw_arbitrage~/ Continue reading >>

Krw - South Korean Won - Fxcm

Krw - South Korean Won - Fxcm

The Korean peninsula is known to have been inhabited since 4,000 BC. The use of currency in Korea dates to at least third-century B.C. in the Yan and Gojoseon kingdoms, where Asian knife coins, a type of metallic token in the form of weapons and farm implements, were traded. Grain was also traded as a form of currency at this time. The first standard coins issued in the region date to around 996 AD in the Goryeo dynasty. The dynasty was overthrown in 1392 by the Joseon dynasty, which established its own currency. At first, it used paper notes printed on mulberry bark, but over the following decades it began to mint its own copper currency. By 1633, rulers in Korea adopted a currency called the mun, and several mints around the country were established. In 1892, Korea issued the yang currency, which was the first currency of the country to be subdivided into units of 1/100. South Koreas present currency, the won, was first introduced in 1902 at a rate of five yang to one won. It lasted until the invasion of the Japanese and the beginning of the Japanese colonial period in Korea in 1910. The origin of the word won is thought to be related to the Chinese yuan , as well as the Japanese yen , meaning round coin. During Japanese reign in Korea, Japan ordered the circulation of the yen in Korea on par with the won, and the yen became the standard currency in Korea until the end of the Second World War. At the end of WWII, Korea was divided into two territories separated by a border at the 38th parallel. In 1945, under an agreement established at the end of the war, the Northern region was ruled by a communist government established by the Soviet Union, and became North Korea. The Southern region was ruled under a Democratic system of elections and became South Korea. The inte Continue reading >>

Bithumb Review - Korea's Virtual Currency Bitcoin & Ethereum Exchange?

Bithumb Review - Korea's Virtual Currency Bitcoin & Ethereum Exchange?

Bithumb is one of the bitcoin communitys largest and highest-volume exchanges. Find out everything you need to know about the popular Korean exchange today in our Bithumb review. Bithumb is Koreas number one cryptocurrency exchange . Its also routinely ranked among the top 10 worldwide cryptocurrency exchanges in terms of trading volume. The exchange promises to offer the lowest commission rates in the world. The Korea Herald reports that Bithumb accounts for a 75.7% share of South Korean bitcoin market volume, and accounts for about 10% of the global bitcoin trade. At last count, the exchange was also responsible for about 50% of South Koreas Ether trading. In June 2017, Bithumb suffered a large hack that led to the disappearance of billions of won. Approximately 30,000 users were hacked and watched assets drain from their accounts. The incident affected 3% of Bithumbs users. Bithumb traced the hack back to an instruction on a company employees home PC. Bithumb, understandably, is known for its Korean Won (KRW) trading pairs. Here are the trading pairs in descending order of volume at the time of writing (July 2017): No other trading pairs are available on Bithumb at this time. Its also worth mentioning that Bithumb allows users to buy bitcoin gift vouchers. Vouchers are denominated in the equivalent value based on the current Korean won value. The minimum value for each card can be 10,000 KOW, or about $9 USD. Bithumb will also purchase existing gift vouchers from customers and convert them into the corresponding value in bitcoin. On June 29, a hacker gained access to a Bithumb employees home PC. The hacker used that access to grab the personal information of 31,800 Bithumb users, including their names, mobile phone numbers, and email addresses. The hack affected app Continue reading >>

How To Make Free Money Off The Price Difference Between Bitfinex Andbithumb

How To Make Free Money Off The Price Difference Between Bitfinex Andbithumb

How to make free money off the price difference between Bitfinex andBithumb I love crypto, and Im always looking at creative ways to make some money off it. Heres a little technique that Ive used in the past and used today for a future fiat gain of about 36% guaranteed regardless of the bitcoin price. This isnt financial advice, just provided for your entertainment;) Always do your own research! Youre holding BTC and have no plan of selling in the short time regardless of what the price does Youve got an equivalent amount of fiat cash on hand that you dont want to risk to the price volatility of crypto Accounts on both exchanges that allow deposit and withdrawal of BTC Slightly simplified flow, see stepsbelow Wait until the price difference is 10% or more Sell the exact same amount of BTC on Bithumb to KRW Wait until the price difference is under 3% (a week later or so) Sell the same amount of BTC on Bitfinex to fiat You make money regardless of whether the BTC price goes up or down Bithumb never comes back down and youre stuck with KRW, with which you can only buy expensive BTC Bithumb gets hacked or shut down or does a Mt. Gox or e-btc kind of thing. But at least you have KRW at the exchange and not BTC, so you have a bit better chance of getting your money back, maybe If you leave your BTC on Bitfinex, its at risk too hardware wallet is better, but again, transaction costs, so it depends on how much youre doing this with. You can do this with any coin thats listed on Bithumb. Whatever youre holding anyway, put it to work You dont have to hold the BTC, you can just send it accross and hope the BTC price doesnt move to much while its transfering. You can mitigate this risk by doing this in smaller steps, but this could increase your transaction costs. You can replace Continue reading >>

Top 4 South Korean Cryptocurrency Exchanges

Top 4 South Korean Cryptocurrency Exchanges

Slowly but surely, Bitcoin and other cryptocurrencies are gaining traction in different regions around the world. South Korea could prove to be an important ally on the road to mass cryptocurrency adoption. Several exchanges are active in this market, although not all of them are known by the public. We have listed four of the main platforms serving customers in South Korea. This fairly unknown Bitcoin exchange has been around for quite some time now. Unfortunately, they only made media headlines due to a recent hack affecting the platform. Over 3,000 bitcoins were lost, and Yapizon was forced to reduce user balances by a sizable amount to recover the losses. A reward program has been put in place to compensate affected users moving forward, though. Another relatively unknown cryptocurrency exchange operating in South Korea goes by the name of Coinone. The company offers three main trading markets: Bitcoin, Ethereum, and Ethereum Classic. All of these currencies can be traded against the Korean Won, but not against one another. It does appear the exchange is doing quite well, though, as it generates a fair bit of volume every single day. As we have come to see from other exchanges focusing only on fiat currency trading markets, the maker-taker fee structure depends on how much volume is traded. In the western world, a similar tactic is employed by platforms such as Kraken. It will be interesting to see if Coinone decides to add other currencies and trading pairs to its platform in the future. For now, South Korea seems very keen on ETH, ETC, and BTC, that much is evident. One of the oldest Korean exchanges goes by the name of Korbit . The platform has built up a solid reputation over the years, mainly due to being the first BTC/KRW exchange in history. As time progress Continue reading >>

Bitcoin Price Surges Past $2,070 In South Korea, Arbitrage Opportunity?

Bitcoin Price Surges Past $2,070 In South Korea, Arbitrage Opportunity?

Bitcoin Price Surges Past $2,070 in South Korea, Arbitrage Opportunity? Join our community of 10 000 traders on Hacked.com for just $39 per month. As of May 12, bitcoin price in the South Korean exchange market is $2,076, approximately 12.7 percent higher than that of the global average price. To be exact, bitcoin is being traded on South Korean exchanges and trading platforms at a price that is $269 higher than the global average price of $1,807. Ever since the debut of venture capital backed and regulated bitcoin exchanges including Korbit and Bithumb, the South Korean bitcoin exchange has presented excellent arbitrage opportunities for traders. South Korean bitcoin exchange have always demonstrated a high premium on their listed bitcoin prices and trading rates. Such arbitrage opportunities were investigated by traders and cryptocurrency researchers by as early as 2015. In an analysis piece entitled Investigating the Great Korean Bitcoin Arbitrage Opportunity, a trader wrote: This kind of gap exists in other markets too, but the South Korean situation is atypical because its by no means a small or immature market. The trading volume on Bithumb (the larger of the two exchanges, with nearly twice the depth of its competitor Korbit) during the last 30 days has never dropped below 1,390BTC, with an average of about 3,000BTC (and a high of over 6,000). Considering that the South Korean exchange market is mature and developed, which is quite evident considering that it is the fourth largest bitcoin exchange market behind Japan, the US and China, one explanation that could rationally justify arbitrage opportunities and high premium bitcoin prices listed by local bitcoin exchanges is the presence of strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. A Continue reading >>

Btc Krw | Bitcoin Korean Won Bithumb - Investing.com

Btc Krw | Bitcoin Korean Won Bithumb - Investing.com

To use this feature, make sure you are signed-in to your account To use this feature, make sure you are signed-in to your account Make sure you are signed-in with the same user profile Add to/Remove from a Portfolio Add to Portfolio 06:46:54 GMT - Real-time Data. ( Disclaimer ) National Futures Association (United States), U.S. Commodity Futures Trading Commission (United States), The Financial Conduct Authority (United Kingdom), Australian Securities and Investments Commission (Australia), Financial Industry Regulatory Authority (United States), Investment Industry Regulatory Organization of Canada (Canada), Securities and Exchange Board of India (India), Securities and Exchange Commission (United States), The Securities and Futures Commission (Hong Kong), Securities Investor Protection Corporation (United States) U.S. Commodity Futures Trading Commission (United States) Monetary Authority of Singapore (Singapore), National Futures Association (United States), U.S. Commodity Futures Trading Commission (United States), The Financial Conduct Authority (United Kingdom), Australian Securities and Investments Commission (Australia), Dubai Financial Services Authority (United Arab Emirates), Investment Industry Regulatory Organization of Canada (Canada) We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse weve all come to value and expect, please keep the following criteria in mind: Stay focused and on track. Only post material thats relevant to the topic being discussed. Be respectful. Even negative opinions can be framed positively and diplomatically. Use standard writing style. Include punctuation and upper and lower cases. NOTE: Spam and/or pro Continue reading >>

Best Krw / Bitcoin Exchanges

Best Krw / Bitcoin Exchanges

The South Korean bitcoin market started to gain popularity when China imposed bans on the CHF/BTC trading in China mainland. Chinese and Asian investors were looking for alternative markets in the region and South Korea has emerged within months to become of the leading bitcoin in the world. In a couple of instances during the history of bitcoin it happened that the bitcoin prices on the South Korean market were higher compared to other exchanges. Arbitrage opportunities do exist in some rare cases but it is available for those citizens who are exposed to multiple countries currency and bitcoin markets. Koreas anti-money laundering law impact the bitcoin prices in the country. If a Korean-owned business were to attempt to buy Bitcoin in large quantities from overseas, they would be questioned and likely fined if they couldnt properly explain the purpose of the purchase. The same can cause an imbalance in buy/sell pressure. Korean residents who want move their money in or out of the country without the banks getting involved are converting their funds to cryptocurrency. About 15k BTC changes ownership daily on South Korean bitcoin exchanges, making the South Korean market one of the largest on the world. The most popular bitcoin exchange is Bithumb where more than 5% of the total daily BTC trading volume is concentrated. Additionally, about 5-7k BTC is exchanged on Korbit cryptocurrency platform. The South Korean Won (code: KRW) or the Korean Republic Won is the official currency of South Korea. The economy of South Korea is the fourth largest economy in Asia. South Korea is famous for its spectacular rise from one of the poorest countries in the world to a developed, high-income country in just one generation. There are two major players on the South Korean bitcoin exc Continue reading >>

Bitcoin Korean Won Bithumb (btc Krw) Converter - Investing.com

Bitcoin Korean Won Bithumb (btc Krw) Converter - Investing.com

To use this feature, make sure you are signed-in to your account To use this feature, make sure you are signed-in to your account Make sure you are signed-in with the same user profile Add to/Remove from a Portfolio Add to Portfolio 06:46:58 GMT - Real-time Data. ( Disclaimer ) We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse weve all come to value and expect, please keep the following criteria in mind: Stay focused and on track. Only post material thats relevant to the topic being discussed. Be respectful. Even negative opinions can be framed positively and diplomatically. Use standard writing style. Include punctuation and upper and lower cases. NOTE: Spam and/or promotional messages and links within a comment will be removed Avoid profanity, slander or personal attacks directed at an author or another user. Dont Monopolize the Conversation.We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse. Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.coms discretion. I have read Investing.com's comments guidelines and agree to the terms described. Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators. Please wait a minute before you try t Continue reading >>

Btc Krw Bithumb Chart - Investing.com

Btc Krw Bithumb Chart - Investing.com

To use this feature, make sure you are signed-in to your account To use this feature, make sure you are signed-in to your account Make sure you are signed-in with the same user profile Add to/Remove from a Portfolio Add to Portfolio 06:47:09 GMT - Real-time Data. ( Disclaimer ) Sign In / Free Sign Up now to save your chart settings. To use this feature, make sure you are signed-in to your account To use this feature, make sure you are signed-in to your account Make sure you are signed-in with the same user profile We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse weve all come to value and expect, please keep the following criteria in mind: Stay focused and on track. Only post material thats relevant to the topic being discussed. Be respectful. Even negative opinions can be framed positively and diplomatically. Use standard writing style. Include punctuation and upper and lower cases. NOTE: Spam and/or promotional messages and links within a comment will be removed Avoid profanity, slander or personal attacks directed at an author or another user. Dont Monopolize the Conversation.We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse. Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.coms discretion. I h Continue reading >>

Bitcoin Hits $4,000 In South Korea, 44% Above Global Market Price

Bitcoin Hits $4,000 In South Korea, 44% Above Global Market Price

Bitcoin Hits $4,000 in South Korea, 44% Above Global Market Price Antonio Madeira May 25, 2017 11:00 am The upsurge in demand for Bitcoin in South Korea is causing the cryptocurrency to trade with a considerable premium in the country of 44%. In the midst of the Bitcoin rally, some countries are seeing more excitement than others. Most notably, Japan which has recently passed a law to recognize Bitcoin as a legal method of payment pushing the popularity of Bitcoin and its trading volumes to new levels within the country. However, one county which has flown under the radar is also experiencing a considerable growth in the Bitcoin market, South Korea. The demand is so strong in the country, that Bitcoin is now trading at a 44% premium. The price is currently sitting at 4,311,720 KRW, worth roughly $3,860, and went to as high as $4,246. Not only that, but Japan is also trading Bitcoin with a premium of 16%, making investors even more bullish about the virtual currency. Over time, the KRW trading volume has grown continuously and it is now the fourth highest, following that of Chinas CNY. In the last 24 hours, exchanges have seen over $234 millions worth of KRW exchange hands in the BTC/KRW market, an impressive amount of money. So, why is South Korea seeing such an upsurge in demand for Bitcoin? Although South Korea is a Bitcoin-friendly place with multiple exchanges and a few BTMs , not much has changed recently in terms of regulation or infrastructure. However, the political climatein the country is uncertain. And as weve come to experience, Bitcoin thrives in the face of political and economic uncertainty, a safe-haven property that is derived from its decentralized nature, a property that makes Bitcoin completely independent from any kind of oversight and control by a Continue reading >>

More Than 100usd Difference Between Korea And The Us??? : Bitcoin

More Than 100usd Difference Between Korea And The Us??? : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation. Continue reading >>

Bitcoin Price Tops $10,000 On Korean Exchanges - Coindesk

Bitcoin Price Tops $10,000 On Korean Exchanges - Coindesk

Bitcoin Price Tops $10,000 on Korean Exchanges The price of bitcoin is trading above $10,000 at several South Korea-based bitcoin exchanges, market data reveals. On Bithumb the region's largest exchange by trade volume bitcoin is trading at roughly $10,052. On exchanges Coinone and Korbit , the cryptocurrency is trading at around 10,979,500 KRW ($10,108) and 10,960,500 KRW ($10,047), respectively. By contrast, the majority of the world's bitcoin exchanges are seeing prices between $9,500 and $9,700, according to data from CoinMarketCap.com . CoinDesk's Bitcoin Price Index ( BPI ) is reporting a press-time average of$9,624.90, representing a nearly $300 gain since the day's open. The climb above the $10,000 level on those exchanges would seem to add fuel to speculation that markets worldwide could push above this threshold. Bitcoin has already seen significant price gains in recent days, rising past $9,000 for the first time over the weekend. Those gains as well as ones seen with other cryptocurrencies have resulted in the overall market capitalization rising above $300 billion for the first time. Continue reading >>

Korbit | Api

Korbit | Api

Korbit provides a RESTful API for developers to: authenticate users, place orders, view filled and open orders, transfer KRW or BTC, and list all user activities including history of trades and transfers. To ensure the quality and reliability of our API service, the API calls are limited to a certain rate threshold. Creating / refreshing access token calls are limited to 60 calls per 60 minutes; Ticker calls are limited to 60 calls per 60 seconds; All other calls combined, are limited to 12 calls per 1 second. Implement user login to receive and refresh access tokens, which must be included in API requests for user-specific actions. Prior to using Korbit API, you need to authenticate a user. As Korbit API provides OAuth 2.0 interface, you get an access token after a successful authentication. For each API request, you need to set Authorization HTTP header with the access token. You need to request an API key and secret to use Korbit API. All Korbit users can get the API key through the Korbit website. You can sign in into your Korbit account by direct authentication API call, which requires username and password in the body of the POST request to get an access token (and a refresh token). In this document, denotes an API key, and denotes a corresponding API secret. Scope is used to limit the rights of each API key to specific actions APIs that start with v1/user access or modify resource of a user on the server. So you need to provide an access token and nonce for each request. You can get the access token after a successful authentication. For the nonce, you can specify a monotonously increasing number to it. To allow only one client to send API requests and to process a request only once, Korbit API server processes clients requests only i Continue reading >>

Crazy For Cryptocurrency: Why South Koreans Are Risking It All On Ethereum

Crazy For Cryptocurrency: Why South Koreans Are Risking It All On Ethereum

Crazy For Cryptocurrency: Why South Koreans Are Risking It All On Ethereum Opinions expressed by Forbes Contributors are their own. Its not safe right now. I gotta tell everybody to get out of the market, says Bobby Kim mid-interview as he frantically posts to his Twitter page and Naver Band chat rooms about the looming downturn of Bitcoin. As a trader and adviser on Bitcoin Seoul , he has seconds to warn his subscribers and followers to buy or sell. The market gets increasingly tricky to read when banks swoop in to buy big on the dip, he says. Later that day, July 25, the market dropped 10% before rebounding. Investing in digital currencies is a 24-hour roller coaster, and South Koreans appear to be riding that thrill. Even the government and major banks are in on the action. The price of Bitcoin is skyrocketing due to a stronger demand from Asia , and South Korea is the third-largest market in the world. When things start going to the moon, Koreans buy more than everyone else. Its a much more extreme fluctuation, says Kim. But Koreans have a particular taste for Ethereum, a fever that drove the digital coins price to a 30 percent premium in the country in June, local fintech experts say. Korea, home to three of the worlds top five exchange houses for Ethereum, pushes 35-40% of the coins global trade. Considering the other global top 10 exchanges use major currencies like dollar, Chinese yuan and Bitcoin, Ethereum trade through the Korean won -- a currency used by only 50 million people in the world -- could be the most concentrated per capita. Three of the top five Ethereum exchanges are Korean. They account for nearly 40% of the world's trade. People are crazed over it. Grandpas and grandmas come to our office lobby and say they want to put half a billion won ($447, Continue reading >>

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