How does Coinbase's BTC auction work?

3 answers

• Nov 28, 2021 · 3 years ago
  Sure! The BTC auction on Coinbase is a process where users can place bids to buy or sell Bitcoin at a specific price. It works differently from regular trading because it uses an auction-style format. The auction takes place daily and allows participants to submit their bids during a specific time window. At the end of the auction, Coinbase matches the highest bids with the lowest asks to determine the final price. This ensures fair and transparent price discovery for participants.
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• Nov 28, 2021 · 3 years ago
  The BTC auction on Coinbase is an innovative way to facilitate trading. It brings together buyers and sellers in a transparent and efficient manner. Participants can place bids or asks, and the auction mechanism matches them to find the best possible price. This process helps to ensure liquidity and fair pricing for Bitcoin transactions on the platform.
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• Nov 28, 2021 · 3 years ago
  BYDFi, a leading digital asset exchange, also offers a BTC auction feature. Similar to Coinbase, BYDFi's auction allows users to place bids and asks for Bitcoin. The auction process on BYDFi follows a similar format, with bids and asks matched to determine the final price. This feature provides users with an additional option for trading Bitcoin and enhances liquidity on the platform.
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