Choosing the right exchange
Choosing the right exchange
Hi all,
I’m preparing my limit order for this altcoin and since the marketcap is only 170 million and my order might be big for this marketcap, I am afraid that my low bid order might not get filled if there is a wick down. So I’m deciding between 2 exchanges: Kucoin with 1.2 million USD volume (per 24 hour) and Gate.IO with 200k USD volume.
The goal is to have the highest chance for getting my low bid order filled, especially because my order will be big (I think). I thought that Kucoin might be better for this, since the volume is way higher. But I have observed both exchanges for 2 days now and often Gate.IO has a lower price and also seems to have more units on sale. Is that possible, despite Kucoin having a way higher volume? Or am I reading it wrong?
The white one is of Gate.IO and the black one of Kucoin. The total amount of coins is listed under ”cum” on Gate.IO and ”Total” on Kucoin. As you can see for the price of 12.287 for example there are only around 46 units to be sold on Kucoin and around 940 units on Gate.IO. Am I reading this correctly and thus at this time at least, Gate.IO is better for my goal of having the most chance of my low bid order to get filled?
Thanks in advance!
The exchange that your order can be filled earlier are exchanges with high trading volume of the listed coin. With what you have explained, it is better to go for Kucoin.
Do not follow the low price, what if your order is not filled earlier and no buyer or seller at the displayed amount of the limit order, but just in a way the market order of the coin will not favour you, then you might even end up buying at higher price or sell at lower price. Low volume can be very frustrating.
The lower price seen can be deceiving which is most likely what will happen.