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Author Topic: dogpile for crypto? Is there any such thing as a (trusted) meta-crypto-exchange?  (Read 133 times)
brokeasfxxx (OP)
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March 23, 2021, 05:58:53 AM
 #1

There's lots of exchanges all trading the same things, with their own order-books etc - does anyone know if there's any "meta crypto exchange" out there, where (for example) I can place one order and the meta-exchange will fill it on my behalf using the best matches at *every* exchange it supports (which might be 2 or more at the same time) ?

Kinda like how the "dogpile" search engine from the 1990's used  to(maybe still does) search *all* the search engines for you at the same time, giving you the best results sorted in order on one page?
OmegaStarScream
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March 23, 2021, 07:02:48 AM
 #2

Well, I know there is CoinSwitch. It goes through multiple exchanges (most of them are instant exchanges) and gives you the best rates.

Or maybe you could give Coinigy a look. I'm not sure though as I haven't used the platform before but I know you can link your accounts from multiple CEXes.

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tranthidung
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March 23, 2021, 07:08:39 AM
 #3

BestChange

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  • You can choose payment method, crypto or fiat currency in column for Give/ Get.
  • It is a filter only. After you choose one, you have to go to that exchange (click on link in the given table) and make your trades

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brokeasfxxx (OP)
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March 23, 2021, 08:03:11 AM
 #4

Thanks @OmegaStarScream - CoinSwitch comes close, but you have to specifically select just one exchange manually, so it's not going to give users the kind of multi-exchange instant-best-price settlement possible unless you happen to fluke picking the one exchange that's got the best ask order at the instant your trade is executed (so basically - rare).

@tranthidung - BestChange looks pretty cool - doesn't do trading though - it's just a referral site :-(

Coinigy looks almost exactly what I was after (putting aside the major PITA needed to open accounts at all those exchanges myself, and the big problem of having to fund every account at every exchange for it all to work...): @OmegaStarScream - do you know if Coinigy has a means to *automatically* split my order and settle it across 2 or more exchanges so I get the "top of book" (best) on them both?  The entire idea doesn't seem scaleable to me: if they've got order books from (say) 10 exchanges - that's a lot of data, and if they have (say) just 1000 customers, their outgoing data to just those clients is going to be off-the-charts...  at a guess, I'd say that by the time your order hit any exchange, the top of the book's going to have long-gone ?
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March 23, 2021, 02:57:08 PM
 #5

There's lots of exchanges all trading the same things, with their own order-books etc - does anyone know if there's any "meta crypto exchange" out there, where (for example) I can place one order and the meta-exchange will fill it on my behalf using the best matches at *every* exchange it supports (which might be 2 or more at the same time) ?

Kinda like how the "dogpile" search engine from the 1990's used  to(maybe still does) search *all* the search engines for you at the same time, giving you the best results sorted in order on one page?

Yeah and Coinbase doing us some nice news with all those things they were accused of, oh sorry I mean found guilty of, doing. Didn't know such a term existed actually.

But I think he's basically talking about defi aggregators like 1inch that supposedly do that? You swap 1 token, and it gets you best match prices across Uni, sushi etc. Or am I missing the whole point?

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Theb
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March 23, 2021, 04:40:20 PM
 #6

I don't know any crypto exchange that has that feature but I know a crypto exchange price comparison website, https://cryptoradar.co/, this website just gives you both the highest and lowest offers in several exchanges which is useful for both buy and sell orders they also give you the direct links of those exchanges where you can just manually input your order. I would rather just used this kind of website rather than a crypto-exchange which will just link my other accounts to other crypto exchanges.

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passwordnow
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March 23, 2021, 08:54:25 PM
 #7

Thanks @OmegaStarScream - CoinSwitch comes close, but you have to specifically select just one exchange manually, so it's not going to give users the kind of multi-exchange instant-best-price settlement possible unless you happen to fluke picking the one exchange that's got the best ask order at the instant your trade is executed (so basically - rare).
It is giving you the best price for each exchanges that happens to show after you put the crypto you're about to exchange and how much you're going to trade for it with the selected coin that you want to receive. And it's not actually instant because it takes for you to receive the coin that you have exchanged because of the confirmation time. If you exchange bitcoin to another crypto, as long as your transaction isn't confirmed yet, you have to wait for it before they exchange it.

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brokeasfxxx (OP)
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April 08, 2021, 04:31:39 AM
 #8

Hi @passwordnow - I'm talking more about high-frequency trading, not about funding exchange accounts in the first place or anything to do with on-chain transactions.

To be clear - this imaginary meta-crypto-exchange would need to carry a real-time orderbook feed.  For example - If I wanted to buy 10 of XXX coin, and the best price at exchange 1 has only 5 available for sale, and some *other* place - exchange2 - has another 5 for sale (which would be cheaper than buying those remaining 5 all at once from exchange 1) - my order would get split and my purchases made simultaneously across both exchanges.

I guess this is probably a nightmare for any one company to implement - since they would have to have their own balances across *all* supported exchanges sufficient to cover the sum of their own customer balances that might want to trade... and this could easily get "lopsided" making it impossible to place trades for the best prices *every* time there are really good price-arbitrage situations that arise.  It would imbalance really quickly...
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