Nocks determines calculated prices based on the supply and demand principle as performed on the open exchange trade markets. The balance of supply and demand is determined by buyers, sellers and day traders of all sizes. We use trade data from the Nocks Trade platform to determine value.
Spread determines the difference
If the order books of a cryptocurrency you want to trade are out of balance, meaning a larger gap, or spread, between BIDS (what the market wants to pay for the currency) and the ASKS (what the market's asking price is for the currency), that means there will be a bigger spread between buying and selling. Which means that when you want to sell or spend your cryptocurrency, the bids determine how much of the specific cryptocurrency you need to complete the transaction.
This causes a fluctuation in value from point of purchase to point of selling.
Also read more about basic trading terminology
Pricing on websites and in-apps
Apps and other third-party statistic websites that use our API integration are giving an estimate of how much it estimates the specific cryptocurrency is worth in a certain currency, to try be helpful - because it is more useful than just seeing the cryptocurrency amount, it is not and cannot ever be an exact number because;
(1) It is constantly changing;
(2) There are at least 10 different ways, if not more, to measure how much your cryptocurrency are worth – all of which are wrong in various situations;
(3) Your phone battery will drain very quickly if an app were to constantly get the information in real-time, causing a slightly outdated rate at times;
(4) The amount of cryptocurrency involved changes the rate you can get or have to pay per asset and the app cannot calculate this.
When you purchase from Nocks or make a money transfer to IBAN from a third party app or service or via the Nocks platform. Nocks will use an exact rate, based on the real-time exchange market, calculated for your exact transaction.
These figures should roughly line up with the rates displayed in the apps or other third-party services but there are always going to be some anomalies.