arbitraging.co made an adjustment and the message was posted internally in the arb platform announcement area. Indicated sincerely Arbitraging Team, not from the so call CEO David Peterson. Look like it will be tough to sell your ARB tokens from now on. Your order might just sit for a while and maybe forever because of the changes below. This will scare off people trying to profit daily by selling their earned profit arb then put in exchange to sell immediately. Well that’s not going to work well from now on because of the fees and restriction below. You might have profit $10 daily, now it will be $9 It’s not much but if you have larger daily profit in usd such as $300 you will only have $280 minus additional fees for withdrawal transactions and more fees when you exchange to fiat from gemini or coinbase.
Basically if I understood it correctly, the market sell fee increased to 5%. Meaning you sell $10 at market price your 5% fee would minus $0.50
Limit Order Undercutting by 0.2% from lowest ask: Up to 5% meaning if you sell limit below the market price you will get charge an additional 5%, that’s a total of 10%. Now I could be wrong about the additional 5% but most likely this is the way the arb platform is heading since there isn’t another way for them to sustain the platform to prevent price kept on dropping daily. This is happening on all platform as cryptocurrencies price going down the drain quick daily. Owners operators are struggling to survive and they’re loosing money how long can they survive, not very long if Bitcoin and altcoins cryptocurrencies kept on dropping daily for months and continue toward the end of 2019.
In summary, basically arbitraging.co is charging fees to sustain the platform look like it because of the undercutters so call trying to sell their arb fast to get cash fiat. Whether this is a good plan or not from arbtiraging.co team, the community will react soon enough some may saying exiting scam is imminent.
Dear community, after many requests to help stop manipulators, new regulatory changes are being made to the trading mechanics.
We have decided that in order to further limit the manipulation of our ecosystem, from now on, new fees will be imposed:
Market Sell: Up to 5%
Limit Order Undercutting by 0.2% from lowest ask: Up to 5%
Thanks for your understanding, we are doing our best to maintain smooth token economics and make the platform usage simpler and friendlier to those of you without malicious intents.
Sincerely, Arbitraging Team.