How to Find the Current Trading Price of Bitcoins
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In 2010, a Bitcoin cost less than $0.01 per BTC. One of the most famous purchases made with a Bitcoin was by someone who purchased a pizza for 10,000 Bitcoins. Since that time, the value of the cryptocurrency has been rising significantly and today, it is about $450 per Bitcoin. According to the current price, that pizza was probably the most expensive pizza ever. How can we track the real price of a Bitcoin? Let’s find out.
No Common Price
First, you should understand, there is no unified, common price for all Bitcoins in a network. Bitcoin, like any other currency or commodity, is trading on the market and at different exchanges. Sometimes the difference in value between two exchanges is so large, that people are making money from this spread. They buy Bitcoins on an exchange where the value is lower and sell them on an exchange where the value is higher. Depending on the cost of a transaction, the profit can be quite appreciable.
If you are interested in Bitcoin trading or simply want to be informed of the latest market conditions, there are a few exchanges and services where you can trace the real-time value of Bitcoins.
You should keep in mind that there is no single value for Bitcoins; therefore, the value of your personal capital, in either dollars or euro, can differ from the real value.
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Exchange is the Main Source of Information
Though you may find and use from any of the large selection of exchanges and there are many of them nowadays, we’re going to discuss the two main exchanges. The first isand the second is . You can find a good service on which compares the value of Bitcoins on these exchanges. If you visit the site, you will notice that there is a small gap between Bitstamp’s value and Bitfinex’s. This is not a mistake. It means that on Bitfinex, for example, for one Bitcoin, traders pay $442, while, on Bitstamp, traders pay $443.5 for a Bitcoin at the same time. It simply cannot be identical because it is the nature of the market itself.
So, remember, if you have an amount of money you want to turn into Bitcoins or an amount of Bitcoins which you want to sell for dollars, Euro or whatever, you should check all the available platforms to find the best offer and gain a higher profit. We recommend you have accounts on different exchanges so you can make the switch between them quickly. This is the only way to find the best price for Bitcoins.
Always be aware of what’s going on in the Bitcoin market and make the best decisions you can.
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