Understanding crypto prices in the app

In the Change app, we display 3 types of asset prices:

1. Mid-market price
2. Buy price
3. Sell price

Mid-market price

The mid-market price is the midpoint between the lowest ask (sell price) and highest bid (buy price) on the order book. It reflects the average of current buy and sell prices in the broader market and serves as a benchmark for investors. This is the price you see on the price screen of any crypto asset in the app.

Buy price

The buy price is the price you pay when purchasing an asset and is typically higher than the mid-market price. When you start a buy order in the app, you'll see this price. It is also referred to as the ask price.

Sell price

When selling an asset, the sell price applies. It is usually lower than the mid-market price. You'll see this price when initiating a sell order in the app. It is also known as the bid price.

Why do we show the mid-market price instead of several prices?

We strive to keep your experience clean, simple, and straightforward. By focusing on a streamlined interface, we avoid overwhelming you with complexity - much like how the Tesla Model 3 cockpit differs from the Boeing 747 cockpit. While advanced traders may want more detailed data, many professionals prefer simplicity and continue to choose Change for that reason.

What is the spread?

The “spread” is the difference between the buy (ask) and sell (bid) prices of an asset. The buy price is generally higher than the sell price, and this difference is the spread. Factors influencing the spread include market liquidity, volatility, and trading volume.

Factors affecting the spread:

• Asset's trading volume and popularity

Assets with high trading volume, such as Bitcoin and Ethereum, tend to have narrow spreads due to greater liquidity. Less popular altcoins often have wider spreads because of lower trading volumes and more challenging price discovery.

• Market volatility

Market volatility measures how much and how quickly prices fluctuate over time. Less popular coins typically experience higher volatility and more price swings.

• Operational buffer

The spread also provides a buffer that helps brokerages manage risks from market fluctuations, allowing them to sustainably offer trading services.

If you have any further questions, please don’t hesitate to contact our support team via the app or email us at support@changeinvest.com.