Active traders do not usually stick to one exchange. Market liquidity, cryptocurrencies supported, and fees charged attract them to Binance for market depth, Bybit for perpetual contracts, and OKX for selected trading pairs; thus, they have a lot of browser tabs open, they have to log in to three sites, and parts of ticket forms that they see are all different. A multi-exchange trading application allows to solve this problem as it uses a single interface through which all three venues can be accessed. This article describes the essence of a unified terminal and shows how BuyCrypt can run tournaments that are based on actual licensed-exchange data by means of this same terminal.
When you add another exchange to your choice of exchanges, you increase the level of difficulty. Each exchange has its own specific structure, specific methods of entering orders, charting defaults, and shortcut keys. So, when switching exchanges during trading, one has to reorient and retrain his/her hands and eyes constantly. However, the problem is not only speed, but also fragmentation. The watchlist is in three different places; the open positions are in three panels; and you need to use several tabs to compare prices and market depth of the same pair in two exchanges. Moreover, the muscle memory gained while working with one exchange will not work for another since buttons are located in different places.
The unified terminal allows to eliminate all these redundant difficulties. One UI is used across all exchanges; one login, one layout, one way to read the chart, and place an order no matter what exchange is behind the order.
A multi-exchange trading application implies the normalization of all exchanges in one UI. The interface includes one order ticket, one watchlist, and one chart engine regardless of the exchange.
The practical gains include: one ticket is the same regardless of which exchange the order will be sent to (whether Binance, Bybit, or OKX); one watchlist and the same charts on all symbols.
Cognitive benefits also appear. When you do not have to deal with changing interfaces, you can focus on the market rather than the software.
The application developed by BuyCrypt is exactly based on this principle. The terminal that is available on mobile platforms allows seeing and trading through multiple exchanges while staying on the same screen. The watchlist, tickets, and charts remain unchanged when moving from venue to venue.
The important thing is that this is not just an idea or prototype. The terminal has already functioned through 48 tournaments in total.
BuyCrypt does not serve as an ordinary exchange, and the money is not actually being spent. Competitive process takes place in a simulation setting where we can practice reading pairs; trading perps on Bybit; and working with OKX through one application without the risk of losing our own money.
Skills learned at BuyCrypt terminal would apply to any exchange.
This is the most important argument in favor of unified terminal. By using the same interface with Binance, Bybit, and OKX, customers do not learn three different programs; instead, they learn how to read market conditions.
The barrier is transferred into a data source now, and customers can learn how to trade in a unified case.
No, there is no need to do that as BuyCrypt is a simulation platform.
The tournaments are being run in a virtual environment.
The BuyCrypt terminal brings together 10 crypto exchanges in one interface, including Binance, Bybit, OKX, and more. All of them feature the exact same watchlist, charts, and order ticket for a consistent experience, no matter what exchange you are trading the data from.
The BuyCrypt terminal brings together 10 crypto exchanges in one interface, including Binance, Bybit, OKX, and more. All of them feature the exact same watchlist, charts, and order ticket for a consistent experience, no matter what exchange you are trading the data from.
That is the main goal; since the approach is the same throughout, your execution and chart-reading experience can be transferred directly. You will understand how the markets of Binance, Bybit, and OKX react within one platform, thus these habits will transfer to another platform.
