How It Works

The GBBOTM trading platform identifies the best available price within connected exchanges, after accounting for FX conversion and node fees. The example below illustrates how end-customers can benefit from GBBOTM pricing.

Example: John wants to sell his 1 BTC for the best available price in his local fiat currency, USD.

Option 1: Sell without Apifiny

Sell on a US exchange on BTC/USD trading pair, which has a current bid price of $47,700.00 John can place a Sell order and receive $47,661.84 after incurring =0.08% in trading fees.

Net Proceeds: $47,661.84

OPTION 2: Sell on Apifiny

Sell on Apifiny. Apifiny’s trading algorithms will search within its network of exchanges across multiple fiat currency trading pairs to find John the highest available bid value across all fiat currencies. Once Apifiny executes John’s order against that bid, Apifiny will convert the proceeds back to USD. The conversion might happen via one or several trades.

For example, John’s Sell order on Apifiny was executed by: 

  • First selling his BTC for 53,694,800 KRW (Korean Won) on a Korean exchange on the BTC/KRW trading pair and a node fee of 42,956 KRW (0.08%).
  • Then selling 53,651,844 KRW for 10,355 EOS with an FX conversion fee of 8.2845 EOS (0.08%).
  • Finally, selling 10,347.21 EOS for 48,631.91 USD on an exchange on the EOS/USD trading pair, with a CCM fee of $72.95 (.15%). The proceeds from  all three trades totaled to $48,520.06

 

Although three trades were executed to convert John’s BTC to USD on Apifiny’s network of connected global exchanges, he would receive $858.22 (+1.8%) more by trading on Apifiny than by trading on a single exchange.

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