EatTheBlocks Forum

eToro vs uniSwap

Hi all … sorry one more question.

A month ago I had pretty much zero knowledge of crypto, other than being aware of bitcoin (and had heard of Ethereum but had no idea what it was). I am learning fast but still have many questions :slight_smile:

The first thing I did was go to eToro and bought some BTC and ETH. So far I made a little on ETH, not much on BTC. I was looking at day trading but the eToro spread is about $80, which in my newbie mind means that if I buy low at say $11500, then I need to wait for BTC to get to $11590 to make $10.

My question is, for this sort of activity, would uniSwap be a better platform? Swapping out to DAI to equate to selling for $? I was playing around with the no-code arbitrage platform yesterday (name escapes me but it’s like Lego blocks) and was horrified to see what gas prices were - another question for another day is would these prices push people to other blockchain platforms because bloody hell they were big taxes, at leat in my newbie mind :slight_smile:

Anyway I hope someone is happy and willing to discuss this subject with me, and I do apologies if this is in the wrong category or wrong forum.

J, I am considering finding some cash to join your programme - having done some small research, there are very few options that I can find in this niche area. Udemy courses seem really badly outdated, and the other main learning platform (I will not name here) is much more expensive and … well I guess I’m just not sure about that platform :thinking:

Cheers
Crypto Balrog

Hey Crypto Balrog,

For the lego blocks platform, I think you mean Furucombo.

For spreads, it really depends which pair you are trading. That’s on a case by case basis. Some decentralized exchanges (DEX) like Uniswap have tighter spreads than centralized exchanges, yes. That’s very new, before the opposite was always true. But, you have to pay high gas fees with DEX. You can lessen the burden of this fixed cost if you trade a large amount. You also mentioned Bitcoin. DEX and DeFi are mainly on Ethereum, where you cant trade BTC directly. However you can trade tokens that represent BTC, like renBTC or sBTC.

Yes Udemy courses are very outdated, and in the Blockchain space that moves super-fast… that’s a problem.