Price difference between the stats on coinmarketcap and some coin exhange....

zikabra

full member

Activity: 574

Merit: 139

Quote from: Alexandru99 on January 29, 2018, 04:40:46 PM

Hello!

I'm a begginer and i have a misconception... why the price from the web site coinmarketcap is tottaly different from the price on a regular exchange site....
I actually can't understand why.. and im frustrated because i wanted to buy a coin that was worth 0,73$ on coinmarketcap and on YoBit was 17.77$ !!!!

I will thank u for the help!!!

Ever heard of arbitrage trading?
As price is different on different exchanges you can buy coins cheaper on one exchange and sell it for higher price on other exchange. That is nothing unusual, experienced traders are doing this and because of that coin values are very close on different exchanges, when you see opportunity like this you should take some profit.
Just be careful before you buy anything, check wallets, maybe they are in maintenance or something so you won't be able to send or receive coins.

nioctiB#1

full member

Activity: 308

Merit: 100

Quote from: Alexandru99 on January 29, 2018, 04:40:46 PM

Hello!

I'm a begginer and i have a misconception... why the price from the web site coinmarketcap is tottaly different from the price on a regular exchange site....
I actually can't understand why.. and im frustrated because i wanted to buy a coin that was worth 0,73$ on coinmarketcap and on YoBit was 17.77$ !!!!

I will thank u for the help!!!

The price in coinmarketcap is combined volume of different exchanges all over the world while the price of a specific cryptocurrency in some exchange may be different from each other because they have their own markets and trading volume so it is very normal for exchanges to have different price rate. big exchanges will more likely have higher price and small exchange will have lower rate.

NeuroticFish

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Quote from: Alexandru99 on January 29, 2018, 04:40:46 PM

I actually can't understand why.. and im frustrated because i wanted to buy a coin that was worth 0,73$ on coinmarketcap and on YoBit was 17.77$ !!!!

Afaik Coinmarketcap shows a weighted average. This means that the prices from the exchange with the biggest trading volumes for that coin are taken as the closest to correct.

Quote from: Alexandru99 on January 29, 2018, 05:04:19 PM

Oh thanks... but do you suggest me to try... if YoBit it's not a good choice...

Coinmarketcap also shows the exchanges and their volumes. If the exchange has very low volumes you may end up with very big difference between buying and selling prices. My advice is to try to use one of the exchanges in the upper half of the list at coinmarketcap, if there are many choices, or, if the choices are few, just check them all.

Another advice I can give is to use more than one site to check the prices. I use https://www.worldcoinindex.com because it also shows better the link to the exchange(s) and seems to update its info much more often.

Dullmartini

full member

Activity: 196

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Quote from: Alexandru99 on January 29, 2018, 05:04:19 PM

Oh thanks... but do you suggest me to try... if YoBit it's not a good choice...

Kucoin and binance are good exchanges right now. I don’t think either do fiat to crypto though so you need an onramp. Personally i use bitstamp for that and then transfer my coins to the exchange

Jerusareth

jr. member

Activity: 73

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Quote from: notaek on January 29, 2018, 07:20:35 PM

I just use these 2 apps for keeping myself up to date:

Bitcoin Ticker widget: https://play.google.com/store/apps/details?id=st.brothas.mtgoxwidget&hl=en
Blockfolio: https://play.google.com/store/apps/details?id=com.blockfolio.blockfolio

The former one has a great range of exchange APIs enlisted which helps a ton.

Quote from: Alexandru99 on January 29, 2018, 05:04:19 PM

Oh thanks... but do you suggest me to try... if YoBit it's not a good choice...

Just avoid Yobit like plague.

Why is it Yobit like a plaque? is it same with HitBTC? I once use HitBTC before but many people now say it has a bad reputation in their withdrawal process and I am thinking to use Yobit for a specific token.

notaek

legendary

Activity: 1268

Merit: 1009

I just use these 2 apps for keeping myself up to date:

Bitcoin Ticker widget: https://play.google.com/store/apps/details?id=st.brothas.mtgoxwidget&hl=en
Blockfolio: https://play.google.com/store/apps/details?id=com.blockfolio.blockfolio

The former one has a great range of exchange APIs enlisted which helps a ton.

Quote from: Alexandru99 on January 29, 2018, 05:04:19 PM

Oh thanks... but do you suggest me to try... if YoBit it's not a good choice...

Just avoid Yobit like plague.

romandos86

member

Activity: 150

Merit: 25

You shouldn't trust in the coinmarket, because it's just general(avarage) info about coin.

Minnie1928

member

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Merit: 14

Quote from: Alexandru99 on January 29, 2018, 04:40:46 PM

Hello!

I'm a begginer and i have a misconception... why the price from the web site coinmarketcap is tottaly different from the price on a regular exchange site....
I actually can't understand why.. and im frustrated because I wanted to buy a coin that was worth 0,73$ on coinmarketcap and on YoBit was 17.77$ !!!!

I will thank u for the help!!!

Every exchange has its own market and with that said you can easily conclude that every exchange is eligible to determine the price for each coin alone. There isn't any rule that is forcing the exchange to regulate the price in comparison to CoinMarketCap.

CoinMarketCap has some middle value of the coin price that is gathered from all the reputable exchanges put there.

You can try to experience arbitrage system in which you will hardly benefit because you are human and not a bot!

Alexandru99

newbie

Activity: 6

Merit: 0

Oh thanks... but do you suggest me to try... if YoBit it's not a good choice...

topchiiy86

newbie

Activity: 196

Merit: 0

Coinmarketcap just sets the average price from all exchanges, as I understand. Most likely you saw the price during a pump, as Yobit is one of the favorite place for pump groups. And Yobit is not a good exchange to buy anything there.

Alexandru99

newbie

Activity: 6

Merit: 0

Hello!

I'm a begginer and i have a misconception... why the price from the web site coinmarketcap is tottaly different from the price on a regular exchange site....
I actually can't understand why.. and im frustrated because i wanted to buy a coin that was worth 0,73$ on coinmarketcap and on YoBit was 17.77$ !!!!

I will thank u for the help!!!

Topic: Price difference between the stats on coinmarketcap and some coin exhange.... (Read 140 times)