How to Spot the Best Price Exchange for any Crypto Trade!
So you've spotted the next sleeping giant, that's gonna make you millions, hun ? Getting your hands on cryptos, especially micro-priced ones, could be more of a challenge though. There are so many exchanges to deal with, so how to spot the best offer in a jiffy ?
Did you know that price listing of ANY crypto is actually an average of prices trading on all available exchanges ? That means prices could be highly variable from an exchange to another.
Let's take the following radical example with MobileGo (MGO), a crypto specialized in eSports. As you can see, it's listed on coinmarketcap.com at 5.60$, a whooping +328% gain!
![](https://steemitimages.com/DQmP1Xwc8oJe2qLcRDLLAfijRmR1vX1SWyMJ3ujh2RniZeG/image.png)
Now, click on the ''markets'' tab
You'll then have a clear view of the many exchanges that list MGO, with the most recent traded prices according to each available pairing.
![](https://steemitimages.com/DQmWbDuiUz6vb5ppWCt7tLL263C6YqRgZ6Pb2s2DcwMMNxe/image.png)
It's now easy to pick the most profitable exchange and pair to go for. In this case, there's a dramatic spread between the Coinrail exchange MGO/KRW(Korean Won) and Liqui exchange MGO/BTC (Bitcoin) pairs. These spreads could be the result of bot trades, local news leading to FOMO (Fear-Of-Missing-Out), or just a few noobs hitting the wrong big input.
Of course, since most of us can't deal in KRW, the best MGO/BTC pair in the following example would be available on Tidex exchange at 0.809$.
Always beware of price outliers, especially if they're accompanied by low volume levels : you could just not be able to pass your order in a timely fashion. Volumes of 0 could mean that the exchange is down or trading was halted.
![](https://steemitimages.com/640x0/https://steemitimages.com/DQmZSiGwDcp9sACiLczghfQvy8gWb9Ko3aUzizwwT4jFQhz/image.png)
In conclusion, the 5.60$ price listed on coinmarketcap.com was, in that specific case, very misleading and possibly short-lived.
Hope this helps! Would like to hear your trading experiences. Cheers!
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