Bitcoin Forum

Hi, sorry for my noobish question, but it makes me so confused..


Which USD value of my altcoins is correct? bittrex estimated USD value or coinmarketcap portfolio position (i set up a portfolio tracker)?

My estimated value of altcoins in bittrex in USD is lower than the actual altcoin value in USD on coinmarketcap.

I have 2 altcoins, XRP and XLM - when I multiply number of coins by current USD price from coinmaketcap.com, the value is higher than the estimated value shown in bittrex... why is it so?

This is because coinmarketcap is counting all prices from all exchanges and usually prices in South Korea are much higher than the rest.

If you plan to use or trade only on Bittrex, then it's clear. You should calculate by Bittrex prices.

Bittrex shows the price only on its exchange. Conmarketcap shows price that's the average of prices on all exchanges listing a coin.

There can sometimes be a big difference in price for the same coin on different exchanges.

Also, I wouldn't rely exclusively on coinmarketcap for an xrp price. It got it wrong a few years ago, which cost traders money. Either use the exchange(s) you are trading on to directly get the price, or double check it on xrpcharts.

https://xrpcharts.ripple.com/

Wow so it seems that the most legit price for xrp is around 1.8 usd not 2.2 that coinmarketcap says. This is so new to me thanks a lot.

So if i would like to sell my xrp at highest profit, should i first check the exchange with a best price, send my position over there and sell it there? Exchange them for btc and then sell it on coinbase ?

Well what coinmarketcap is an averaging of all the prices that are available. I don't think it properly adjusts for weight as a result you must do your due diligence and make sure you are getting the right price.

Every exchanges have different prices. Coinmarketcap gets the average of the overall market of the particular coin.

Thanks a lot fyi guys. Cheers.

Coinmarketcap value for a coin is average value for it, but bittrex value for a coin is for bittrex. If you have saved your altcoins in bittrex then you need to see bittrex value.

If you use bittrex for trades then you need to use their estimate, this value will be more correct for you. Use coinmarketcap for other external investments.

That's right and coinmarketcap takes the weighted average of the all exchanges listed in their system. The price you see on coinmarketcap is only to have a general opinion about the markets. It's not one exact price of any coin.

Coinmarketcap bases its prices from other exchanges in an average. Whereas Bittrex base on its own exchange market analysis which is almost accurate. Both are legit in terms of when a certain coin is included in their exchange, that coin becomes legit. But people seems to be leaning more on to Bittrex in terms of reliability.