Trading Smarter How many times have you conducted a trade after checking multiple platforms and doing your due diligence, only to find a better deal on another platform right after? It can be frustrating and exhausting to try to find the best price to trade cryptocurrencies, especially because of the volatility of the values of these currencies.
What if I told you that there is a blockchain-based start-up that has found a way to solve this problem, and better yet, that their product can be used by all exchanges, including online and traditional brokers. This company, called Loopring, offers an open source protoby ICO CROWD col that can bring better prices to individuals trading cryptocurrencies. This protocol will run in the background of exchange platforms to create a network of exchanges to complete trades. In this way, Loopring does not replace existing exchange platforms, but rather aims to enhance them in a way that benefits everyone. As more people are beginning to ask, “why trade cryptocurrency?”, having highly efficient and interconnected platforms is becoming more important. Looping offers the freedom and the flexibility required to trade crypto with ease, including ensuring that traders are getting the best deals.
ORDER SHARING: SPLITTING ORDERS TO GET THE BEST PRICE The Loopring protocol, or code, allows orders to be broken down into small pieces. This is a process known as ‘order sharing’. Once an order has been broken down, the protocol will be able to locate the best prices and times at which to exchange on all of the exchanges that run Loopring’s protocol. For example, if you were to put out an order to buy 10 ETH, the protocol would be able to find the best buying prices across all participating platforms, even if it means buying 1 ETH from Coinbase, 7 ETH from Kraken, and 2 ETH from Bitstamp. Believe it or not, no other exchange allows traders to split orders in this way. By working this feature into their protocol, the team at Loopring have found a way to greatly optimize trading results. Traders will no longer have to be
Published on Dec 28, 2017