4 ms·
Normally, yes. But if you sell it through coinbase and not gdax, cb let's you sell it instantly and acts as a buyer.
by flignats 9y ago
Normally, yes. But if you sell it through coinbase and not gdax, cb let's you sell it instantly and acts as a buyer.
- coralreef 9y agoHow do you know they're acting as a buyer and not just creating a sell order on GDAX?
- deleted 9y ago[deleted]
- flignats 9y agoBecause they just bought it from you at that guaranteed price. They could go and sell it on the market for more/less, but the price you sold it to CB for remains the same.
- coralreef 9y agoThat price changes dynamically at some interval, and is discounted against the trading market value, correct?
- flignats 9y agoThey do update that price frequently (minutes, maybe seconds) and there is a premium added to the price. I assume they add this premium so they can then go liquidate it for profit on the exchange as needed.
- coralreef 9y agoThat doesn't sound to you like they're just selling it on gdax?
- flignats 9y agoThey can do whatever they want with it after they have sold it to me for a fixed price.
- coralreef 9y agoHeh, I'm not sure why you think its a fixed price. They're probably showing you the lowest sell order on the order book.
- flignats 9y agoHave you ever bought/sold on CB? It is exactly that, a fixed price. It's the convenience you pay for to use CB. That price updates frequently, but whatever price you execute at is the price you pay/sell for.