Choosing the right exchange

[xbcc40]

Hi all,

I'm preparing my limit order for this altcoin and since the marketcap is only 170 million and my order might be big for this marketcap, I am afraid that my low bid order might not get filled if there is a wick down. So I'm deciding between 2 exchanges: Kucoin with 1.2 million USD volume (per 24 hour) and Gate.IO with 200k USD volume.

The goal is to have the highest chance for getting my low bid order filled, especially because my order will be big (I think). I thought that Kucoin might be better for this, since the volume is way higher. But I have observed both exchanges for 2 days now and often Gate.IO has a lower price and also seems to have more units on sale. Is that possible, despite Kucoin having a way higher volume? Or am I reading it wrong?


Please see this image of both the order books:
https://i.ibb.co/4ZfjL7b/orderbook.jpg

The white one is of Gate.IO and the black one of Kucoin. The total amount of coins is listed under ''cum'' on Gate.IO and ''Total'' on Kucoin. As you can see for the price of 12.287 for example there are only around 46 units to be sold on Kucoin and around 940 units on Gate.IO. Am I reading this correctly and thus at this time at least, Gate.IO is better for my goal of having the most chance of my low bid order to get filled?


Thanks in advance!

[Charles-Tim]

The exchange that your order can be filled earlier are exchanges with high trading volume of the listed coin. With what you have explained, it is better to go for Kucoin.

Do not follow the low price, what if your order is not filled earlier and no buyer or seller at the displayed amount of the limit order, but just in a way the market order of the coin will not favour you, then you might even end up buying at higher price or sell at lower price. Low volume can be very frustrating.

The lower price seen can be deceiving which is most likely what will happen.

[Jawhead999]

The thing is they might cancel their order and there's a chance a new seller want to sell large sum with lower price too. I don't know which coins you're talking about and how they're interested with Gate.io rather than Kucoin while the volume Kucoin is far higher than Gate.io... You'd better checking the buy and sell order on the next hours and next days, if the volume is still higher in Gate.io then use Gate.io

Does this coins doesn't get listed in Binance? Binance should be the highest volume trading.

[xbcc40]

The exchange that your order can be filled earlier are exchanges with high trading volume of the listed coin. With what you have explained, it is better to go for Kucoin.

Do not follow the low price, what if your order is not filled earlier and no buyer or seller at the displayed amount of the limit order, but just in a way the market order of the coin will not favour you, then you might even end up buying at higher price or sell at lower price. Low volume can be very frustrating.

The lower price seen can be deceiving which is most likely what will happen.

Thank you for your response. For me it is not only about the lower price. As I explained on the lower volume exchange the order book actually indicates more coins for sale and it has been like that for 2 days. But the volume says otherwise.

Unless I'm reading the order book wrong.

The thing is they might cancel their order and there's a chance a new seller want to sell large sum with lower price too. I don't know which coins you're talking about and how they're interested with Gate.io rather than Kucoin while the volume Kucoin is far higher than Gate.io... You'd better checking the buy and sell order on the next hours and next days, if the volume is still higher in Gate.io then use Gate.io

Does this coins doesn't get listed in Binance? Binance should be the highest volume trading.

Thank you for your response.

You say, ''The thing is they might cancel their order''. But that goes for both exchanges, no? Or can you tell me how that influences the decision here?

What do you mean exactly with ''interested with Gate.io''?

So if I understand correctly, you do agree with me with the way the order book looks on that image I showed? It shows that Gate.io has more coins for sale, despite that the 24 hour volume is way less than Kucoin.

And no, this projects is not listed on any bigger exchange.

[jackg]

You can likely go with either and still get something filled.

There's quite a large gap in the order books (lowest bid v highest ask) from your screenshot which means it's hard to tell where would be the best place to get the order fulfilled and it'll probably either fill for your price on both or neither if volume is that high...

[tranthidung]

Choose exchange without KYC requirement.
Then consider an exchange which has higher trading volume that in turn will help you to enter and exit with your prefer price. Your orders won't affect price too much if trading volume is high enough and bigger than your order value.
Lastly I would prefer to choose exchange with different trading pairs, BTC, stable coins (different ones, not only USDT, but also BUSD, DAI, etc.)

Remember with DEX, non KYC is only temporary because sooner or later, they will require KYC.

[Ararbermas]

For me in my personal opinion i don't want to recommend gate.io exchange because way back 2019 i have problem with my account but they keep asking more information even though i've already submitted what some sort of information they need in order to recognize me but sad to say no solution until now just a bunch of messages for my information. Very shady to be honest so i stopped contacting them. If i were you mate try binance if it's not restricted to your country wherein to ensure your capital is in a safe place as well, its a very secured platform so probably a good choice than gate.io.

[kentrolla]

As per the screenshot there is a gap between the buying price and selling price, I am sure you will not be able to buy at market price in gate.io because the sellers wants to sell above the market price and buyers want to get it under the market price in Kucoin, so it would be a stalemate wherein your order will not be filled. I would suggest you to find the real arbitrage with some other coin wherein the prices will vary but atleast buyers and sellers should be buying and selling around the market price.

[Lanatsa]

As per the screenshot there is a gap between the buying price and selling price, I am sure you will not be able to buy at market price in gate.io because the sellers wants to sell above the market price and buyers want to get it under the market price in Kucoin, so it would be a stalemate wherein your order will not be filled. I would suggest you to find the real arbitrage with some other coin wherein the prices will vary but atleast buyers and sellers should be buying and selling around the market price.

That's the problem if a certain platform doesn't really have much volume on which you could really be having a hard time on filling up those orders that you had made which you might really be ending up
on dealing with market price rather than setting those limits that you had inputted.
I don't have any experiences in using Gate.io but basing off with volume then it is really just sensible if you do really make use of those top rankings in the market
which you wouldn't really be worrying this kind of problem.

[Maslate]

In that case, I'd rather choose Kucoin exchange than Gate.io. It is better to choose an exchange that has huge trading volume as we can make our buy/sell easily get filled. And also, considering the credibility of Kucoin have than Gate.io, I think it was safe to use.
Well, I understand that the price isn't your concern but it was supposed to look for which exchange could offer the best aside from security.

[Quidat]

In that case, I'd rather choose Kucoin exchange than Gate.io. It is better to choose an exchange that has huge trading volume as we can make our buy/sell easily get filled. And also, considering the credibility of Kucoin have than Gate.io, I think it was safe to use.
Well, I understand that the price isn't your concern but it was supposed to look for which exchange could offer the best aside from security.

Also there are several thread on this forum about their reputation or issues.

https://bitcointalk.org/index.php?topic=5342342.0
https://bitcointalk.org/index.php?topic=2995073.0
https://bitcointalk.org/index.php?topic=5332983.0

I would also trust up Kucoin in  the end of the day.

[noorman0]

You mean the trading pair LYXE><USDT, gate.io has almost no trading activity per minute. If you want to continue, kucoin is better. What you have to think about is not only getting the lowest possible purchase price, but how your order is actually filled and as quickly as possible both when you buy and sell. On certain exchanges, large orders volume don't actually contain real orders , they are just fictitious orders.

[traderethereum]

I still prefer KuCoin over Gate.io but both exchanges did good work for me because I can profit from various coins.
The volume or trading pair is much bigger KuCoin than Gate.io so that the movements will be fast at KuCoin.
If you are not hurrying to trade, Gate.io can suit you but if you want to have a more aggressive market, KuCoin is better but Binance is best if you want to search for faster movements.
Related to your coins, you should check how long one order will fill so if you take a look at Gate.io, the order will need more time to fill than in KuCoin but maybe I am wrong because that can be related to the time for the trader to trade.

[ice18]

My suggestion is choose exchange with high volume Kucoin, why I suggest this one? Supposed your buy order at low price already been filled then later the price increase then you have a profit now and you decided to sell it, right? You can immediately sell your asset without worrying with liquidity and volume in Kucoin compared to Gateio which has low volume, you need to wait a longer time before your sell order got filled.

[genny2kuk]

I would also advice Kucoin because of its large trade volume. Using an exchange that has lower trade volume might result in slippage. Which means that you would end up paying higher for your trade.

[palle11]

Well a personal experience will tell you that trading on a high volume exchange is better. Between the two you mentioned, I will suggest kucoin for you. It has volume higher and resell won't be your problem because of the numbers of willing to buy traders in there. Your orders won't take long to be taken both for buy or sell.

[tvplus006]

...The goal is to have the highest chance for getting my low bid order filled, especially because my order will be big (I think). ...

If you have doubts, in this case it would be the right decision to divide the deposit between these two exchanges by sending most of it to Kucoin. At the same time, place purchase orders in pairs to various stable coins, if there is such a choice.

[Sweetbtc]

First of all we should check the volume of persons in exchange.after that we should see the coins.at the end we should check the exchange quality and review.if review rate is more than 4 star so it's mean it is workable exchange

[tippytoes]

Well a personal experience will tell you that trading on a high volume exchange is better. Between the two you mentioned, I will suggest kucoin for you. It has volume higher and resell won't be your problem because of the numbers of willing to buy traders in there. Your orders won't take long to be taken both for buy or sell.

Usually high volume exchange has faster rate of fulfilling your orders. But it depends on the coin in question here because it varies from one exchange to another. Also, the movement may be fast so whatever the OP posted will change in a matter of minutes. So he needs to consider that as well. The figures he was looking at that time, may change upon the execution of his order. He needs to observe the two exchanges on how the orders are getting filled for that particular coin.

[harizen]

I think by choosing those large exchanges, any orders made by yours will be filled.

Is that your real concern? Can you elaborate on other concerns so we can have an accurate response to you?