Common Questions about Bitcoin Price Equation

Common Questions about Bitcoin Price Equation

Bitcoin price varies on every cryptocurrency exchange. The Bitcoin price equation lets you update the price in your offer.

What is the bitcoin price equation?
The Bitcoin price equation is an opportunity to update the price in your offer with the price fluctuations of Bitcoin from a specific exchange platform. This is an option to choose a rate from any other Bitcoin exchanges and use it for your sell or buy offer. To use the price equation, see our guide.

How is the regular (simple mode) bitcoin rate calculated?
The regular bitcoin rate is the average ask price between the following sources:

  • Coinbase
  • Bitstamp
  • Bitfinex

What are the available rate sources in advanced mode?
In advanced mode, you're offered a list of these exchange platforms:

  • Binance
  • Bitfinex
  • Bitstamp
  • Coinbase Pro
  • Gemini
  • Kraken

How often do rate updates happen?
Rates are updated from the exchange source every minute.

Which price points are available?

Here is the selection of price points:

  • Ask — The ask price is the current lowest price that a bitcoin seller is willing to accept from a buyer. 
  • Bid — The bid price is the current highest price that a bitcoin buyer is willing to pay to a seller.
  • 24 high — The highest bitcoin price of all completed trades on the exchange platform during the last 24 hours.
  • 24 low — The lowest bitcoin price of all completed trades during the last 24 hours.
  • Average — The average bitcoin price of all completed trades for the last 24 hours. 
  • Last — The price of the latest completed trade according to the exchange platform selected.

Note: The choice of available price points may vary depending on the rate source you choose.

How my potential trade partners will see my custom bitcoin rate?
For your trade partners, there is no special sign letting them know that you are using a custom bitcoin price. However, your custom bitcoin rate will affect directly the percentage above or below market price and how much traders will get on dollar.

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