The order book next to the order-entry page is worth a look. Red shows sell orders, green shows buy orders. The two prices next to each other are called the best ask and best bid; the difference between them is the spread.
I just checked $BTC : the best bid was 75070.79 and the best ask was 75070.80—a difference of just one cent. For $SOL , the best bid was 87.52 and the best ask was 87.53, also just one tick apart. Spreads this small on major coins can be ignored.
It’s different with obscure, small-cap coins: there may be several points between the two prices, and the order book can be thin. Placing a market order means buying directly at the other side’s price, and a larger order may eat through multiple price levels. Before buying an obscure coin, I check how deep the order book is. If it’s thin, I’d rather place a limit order and wait.
#BeginnerTips #OrderBook
I just checked $BTC : the best bid was 75070.79 and the best ask was 75070.80—a difference of just one cent. For $SOL , the best bid was 87.52 and the best ask was 87.53, also just one tick apart. Spreads this small on major coins can be ignored.
It’s different with obscure, small-cap coins: there may be several points between the two prices, and the order book can be thin. Placing a market order means buying directly at the other side’s price, and a larger order may eat through multiple price levels. Before buying an obscure coin, I check how deep the order book is. If it’s thin, I’d rather place a limit order and wait.
#BeginnerTips #OrderBook