Finding Best Crypto Prices on Different Exchanges

by areyoudizzzy

Because there’s no regulator watching spreads and prices between exchanges, and because crypto is a super volatile market, you can often find whatever you’re looking to buy at a cheaper price on one exchange vs another.

You can check the Markets section of a token’s listing on Coin Gecko to fing the cheapest price for any coin.

E.g. for Bitcoin right now, the price on Bitfinex is $59,440.54 whereas on Changelly PRO it’s $58,737.53.

That’s a little over a 1% saving. Pretty good but nothing major when the market swings double digits in a day.

However on lower cap coins there can be a huuuuge difference.

E.g. dHedge (random coin outside the top 300) is $5.17 on Huobi wheras it’s only $3.96 on Hotbit.

That’s nearly a 25% discount and I literally just scrolled down the list and picked one at random.

I’ve seen coins at double and even triple the price on one exchanges vs another.

This isn’t just random spikes either like when some people managed to get ETH for $700 when it was trading at $1800 a few weeks ago. There are always price differences between the exchanges and for lower MCAP alts, they can be massive.

Messari.io also has a good interface for seeing the Premium/Discount in % terms.

It’s obviously best to stick with the more reputable exchanges when dealing with large sums if you want to keep it on the exchange but it might be a good move to have an account on multiple exchanges in case there’s a big swing and one of the smaller exchanges hasn’t had time to react.

Beware that there are a LOT of shady exchanges though. Be sure to check that there is actually volume on the exchange and DYOR on whether people have managed to successfully withdraw or cash out from them.

Goin Gecko has a list with trust scores for all of the centralized exchanges. Not sure how much I trust these scores though because they are obviously able to be manipulated if one of the exchanges is paying them behind the scenes.

There’s obviously a lot of scope for making bank with arbitrage in the crypto space but that would be another post.

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