Why are there discrepancies in the prices of cryptocurrencies on different exchange platform?

Ralphjoe

Active member
In my short time of dealing on cryptocurrencies particularly on cryptocurrencies exchange websites, I have discovered that different cryptocurrencies exchange platforms quote different prices for their cryptocurrencies. I have both Luno and coinbase and these are the two Cryptocurrency exchange platform that I used, I have discovered that the prices of cryptocurrencies being quoted on Luno is always higher on Luno than on coinbase, this also affects the price of my Cryptocurrency portfolio in both wallets.

This has made me to brainstorm on the most likely reason for this discrepancies between these two Cryptocurrency exchange platforms, the more I tried, the more confused I become and this can be so frustrating.

So I decided to table this matter here, what makes the prices of cryptocurrencies on different platform different?
 

Josemendez

Verified member
The fact is that some cryptocurrency sites experience Technical glitch , which is the cause of the different change in the price of coins as observed in different exchange sites. However ,this is not always the case , it is only on few occasions that this thing happens .
The strategy to use whenever you observe discrepancy in the price of a particular coin ,is to check other exchange site.
I could remember waking up to see the price of 1up at a price that would have made me a billionaire , but checking other site , I noticed that the issue was from Trust wallet.
 

Ralphjoe

Active member
The fact is that some cryptocurrency sites experience Technical glitch , which is the cause of the different change in the price of coins as observed in different exchange sites. However ,this is not always the case , it is only on few occasions that this thing happens .
The strategy to use whenever you observe discrepancy in the price of a particular coin ,is to check other exchange site.
I could remember waking up to see the price of 1up at a price that would have made me a billionaire , but checking other site , I noticed that the issue was from Trust wallet.
Well this matter is entirely different being that what is am saying specifically is that the price has been quite different on the both cryptocurrencies exchange platforms. Take for instance, I received $32 worth of Bitcoin on my coinbase wallet, it showed N11800 as it's worth in naira, then on transferring it to my Luno wallet (take into consideration that coinbase will charge me like N400 for this transaction), it reflected as N14,609. In this instance, you can see a difference of N2,809 as the difference in their various prices, this is like their normal prices since I have been using Cryptocurrency wallet, so what do you think maybe responsible for this?
 
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