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Crypto Prices Live

Cryptocurrencies and blockchain have entered many everyday life fields and businesses, bringing a lot of benefits to them.

Many large companies and some financial establishments have partnered with crypto projects and use their assets and platforms for quality and transparent settlements within the business and out.

Numerous blockchain games now emerge in the market, allowing players not only to enjoy the game flow but also to earn rewards that can be converted into fiat and cashed out.

Even though crypto assets are not used massively yet, they already have many use cases and successful projects working with them.

Since crypto prices are highly volatile, it allows for making money on the rates difference. This is called crypto trading.

There are many trading strategies – some are designed for long-term investment, and others are meant for daily use.

Often, traders use additional tools like trading bots that can keep track of crypto coin price and commit buying/selling operations without human participation.

Some trading strategies imply making a profit from price crypto differences on various crypto exchanges. Indeed, rates might vary from platform to platform. Let’s talk about the reasons why it happens.

Price Crypto on Exchanges

If you have worked with several crypto platforms, you probably noticed that crypto prices live may differ.

Comparing asset rates on different crypto exchanges allows us to understand many crucial things about exchanges themselves.

The fact is that the price difference on different cryptocurrency platforms enables the arbitrage crypto trading strategy.

It is one of the ways to make a profit for traders, based on the fact that the exchange rates of cryptocurrencies differ.

Buying crypto assets at a lower rate at one crypto platform and selling on another platform at a higher price is the essence of the arbitrage strategy.

You can find average rates on crypto on CoinMarketCap and Coingecko websites. These resources also show crypto prices on different exchanges to compare.

Also, the cryptocurrency rate on each platform is determined by the value of the last transaction with this asset.

The influence of large platforms also causes the difference in exchange rates because most traders track asset prices on large exchanges (Binance, Coinbase).

In addition, the price of cryptocurrencies also depends on the geographical location of exchanges – the demand for a certain currency may vary depending on the region.

For example, adopting Bitcoin as a legal means of payment at the governmental level in El Salvador affected the coin’s rate.

Among other events that affected the price, we can name, for example, restrictions in China.

When China banks were forbidden to provide services with cryptocurrencies and traders and miners were banned, it forced many of them to leave the country in search of favourable conditions for mining and trading.

This situation sharply reduced the network’s hashrate and the coin’s price.

Crypto prices on different exchanges may also vary depending on the level of the platform.

Higher crypto rates are typical for legitime and credible platforms that comply with AML (anti-money laundering) requirements.

On the contrary, low-quality sites offer a lower rate to attract more inexperienced users.

When comparing cryptocurrency exchanges, it is worth focusing on major market players, for example, legal exchanges with a good reputation and high daily trade volumes, such as:

  • Coinbase
  • WhiteBIT
  • Binance
  • KuCoin
  • Kraken
  • OKEx

This will help to find out the fair price of the asset. Each of the exchanges offers its crypto price list and the number of pairs available for trading.

For example, WhiteBIT offers over 400 crypto pairs. To check out how much you will spend buying crypto assets, you should go to the “Trade” section and enter the data:

  • The coins you wish to sell
  • The asset you want to buy
  • The amount of transaction.

Centralised exchanges, we have mentioned, offer an average transaction fee of 0,10%, but some of them make a changeable commission depending on the type of trading, so make sure you familiarise yourself with the fee policy.

Wrapping Up

Every crypto exchange has the right to set prices for crypto assets and transaction fees.

Large legitime platforms offer higher crypto prices because, besides trading tools, they also offer a high level of security and protection for users’ funds from hacker attacks.

On CoinMarketCap, you can always find current average crypto rates for all assets in the market.

The price difference on exchanges opens the opportunity for arbitrage trading. That’s when you buy coins at a low rate and sell them at a high rate using two different platforms.

The region and state jurisdiction also significantly impact crypto prices; we can see it in the example of El Salvador and China.

Joel Gomez
Joel Gomezhttps://www.gadgetclock.com
Joel Gomez is an Avid Coder and technology enthusiast. To keep up with his passion he started Gadgetclock 3 years ago in 2018. Now It's his hobby at the night :) If you have any questions/queries and just wanna chit chat about technology, shoot a mail - Joel at gadgetclock com.

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