They say learn from your mistakes right? that is not bad but it is still ok to learn from someone else's mistake in this case mine, so guys you are welcome, now let us get down to business and the main reason why you click on this post, so for some time I have been finding crypto Arbitrage trading opportunities on Ethereum proof of work (ETHW) but did not try it out at first because of the fear that the gas fees or in this case transfer fees were going to be outrageous due to the obvious fact that it is on the Ethereum blockchain network, I did not want to be making a simple trade for some profit and paying through my nose for the transfer charges fees.
So while I was about to make my trade, I had to check for the exact withdrawal fee or transfers fees from Huobi will cost me, because I found the Arbitrage trading opportunity between Huobi crypto exchange and KuCoin crypto exchange, Huobi withdrawal fee was surprisingly fair or cheap since it was a coin built on Ethereum blockchain as I have said before the EthereumPow (proof of work) withdrawal network fee was 0.0020000 ETHW which is worth 0.002USDT, so for a coin built on Ethereum blockchain the free is cheap but I did not know there was going to be a catch which is the time it was going to take to confirm the transfer from Huobi crypto exchange to KuCoin.
So yeah the withdrawal fees were fair but I did not expect it would take 4000 blocks to confirm the transfer from Huobi to KuCoin, I bought ETHW at Huobi for 11.89 USDT and I wanted to sell it at KuCoin for 12.78 USDT but it took more than an hour to confirm 150 blocks out of 4,000 blocks, which during the waiting period for the transfer to be confirmed the price of ETHW on KuCoin has dropped from 12.78 USDT to 11.93 USDT almost the same price I bought it at Huobi, the price went back up a bit and I was happy but before the 4,OOO blocks confirmation was done the price has dropped and I sold at a little loss though but it is fine because it is all part of the trading game, you win some and you lose some.
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