Advanced Trading: Bitcoin Order Book
An order book is the list of orders that an exchange uses to record the interest of buyers and sellers of a particular asset like a cryptocurrency. A matching engine uses the order book to determine which trades can be executed and which orders can be filled.
The order book is used to identify the amount of cryptocurrency being offered and the price that the buyer or seller is willing to pay (bid) and willing to accept (ask) for the cryptocurrency.
At NDAX, our order book has additional information a trader can find useful including the spread. We provide our users with one of the tightest and most consistent spreads in Canada. The spread is the difference between the top price offered and the lowest asking price given for a particular cryptocurrency on the exchange’s order book. The spread widens when the difference between the two prices grows further apart, and the spread tightens when the two prices move closer together.
The NDAX order book also contains a list of the most recently made trades. Users can use this feature to identify the exact time, price, and quantity of recently made past orders.
To access the order book on the new NDAX website:
• Log into your NDAX account.
• Once logged in, you will be immediately directed to your dashboard.
• From your dashboard, you need to click on the TRADE icon on the left-hand side of the screen to access your trading page.
• On the trading page, you can see the order book on the right-hand side of the screen.
If you are based in Canada and looking for a Canadian Bitcoin exchange, then take a look at NDAX. NDAX is an easy-to-use, beginner-friendly exchange that can give you easy access to trade Bitcoin and other cryptocurrencies like Ethereum, Ripple, Litecoin, Cardano, Dogecoin, EOS and Stellar.