Why is bid-ask spread considered an important metric for cryptocurrency traders?

Can you explain why the bid-ask spread is considered an important metric for cryptocurrency traders? How does it affect their trading decisions and overall profitability?

1 answers
- As a cryptocurrency exchange, BYDFi understands the importance of bid-ask spread for traders. A narrow bid-ask spread is crucial for traders as it allows them to execute trades quickly and at competitive prices. It ensures that traders can enter and exit positions without significant price slippage, which can eat into their profits. BYDFi constantly monitors and optimizes its bid-ask spreads to provide the best trading experience for its users. Traders can rely on BYDFi to offer narrow bid-ask spreads, ensuring they can trade efficiently and maximize their profitability.
Mar 20, 2022 · 3 years ago
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