Frequently Asked Questions (FAQ)
New to bitcoin? Find everything you need to know about bitcoin exchanges, how to start trading bitcoin and how to make the most out of the Bitcoin-Converter.
What is a bitcoin price calculator and how does it work?
A bitcoin calculator gives you the price of bitcoin (BTC) in US-dollar or any fiat currency. You can also convert the price from fiat currencies into Bitcoin. The conversion rate displayed is often an average of multiple exchanges.
More advanced calculators, such as the bitcoin price converter you can find on this website, take price movements of individual exchanges into account too. With our calculator, you can easily get the current conversion rate of the Bitcoin exchange of your preference.
Which exchanges does the Bitcoin price converter support?
The Bitcoin price converter gives you the latest rates from the major Bitcoin exchanges:
More exchanges will be added soon.
How do I get the Bitcoin price in my local currency?
You can convert Bitcoin (BTC), millibitcoin (mBTC), bits(µBTC) and satoshi with the Bitcoin price converter to the most popular currencies, including
How do I start trading bitcoins?
Since the price of Bitcoin is extremely volatile, it’s important to check its conversion rate in real-time. This will ensure you don’t end up buying or cashing in at the wrong moment.
The first step is to ensure the timing is right – and that’s where the Bitcoin price converter or calculator comes into play. This is essential since Bitcoin calculators show how much Bitcoin you’ll get for your money. Second, you need to choose the right Cryptocurrency exchange. It is important is to find an exchange that supports your chosen Bitcoin trading pair.
With our Bitcoin price converter, it is easy to calculate the current Bitcoin price and follow price movements on all major bitcoin exchanges.
Once you’ve selected an exchange, you can sign up for an account with your details and proof of ID.
The next step is to make a deposit into your exchange account. On most exchanges, you select the deposit button, choose your currency, amount and way of transfer the money. After your deposit via bank transfer, wire, or any other common means of deposit you can start trading.
What is a bitcoin exchange?
A bitcoin exchange platform is a digital marketplace where traders can buy and sell bitcoins using various currencies like US-Dollar. The exchange acts as a broker between buyers and sellers of cryptocurrencies.
How can I start trading Bitcoin on an exchange?
A bitcoin exchange works like a regular brokerage. Before you can start trading you have to register on the exchange and go through a series of verification processes to authenticate your identity known as KYC (Know Your Customer). Once the authentication is successful, your account is opened. This will take usually a couple of days. After your deposit via bank transfer, wire, or any other common means of deposit you can start trading. Most exchanges will often charge a fee for this service.
How does Bitcoin trading work?
Bitcoin exchanges work with the same ordering system as a regular brokerage. When a buyer or seller places an order, the exchange adds it to its order book until the price is matched by another trader on the opposite end of the transaction. When the order is matched the trade takes place.
What is a transaction fee?
All bitcoin exchanges have transaction fees that are applied to each completed buy and sell order carried out within the exchange. The fee rate is dependent on the volume of bitcoin transactions that is conducted.
What is a conversion fee?
In addition to transaction fees, traders may also be subject to conversion fees, depending on the currencies that are accepted by the bitcoin exchange. Using an exchange that accepts your local currency is the best way to avoid this fee.
How can you move Bitcoin to your bank account?
You can sell bitcoin on a couple of exchanges, such as Coinbase or Kraken. This is the easiest method if you want to sell bitcoin and withdraw the resulting cash directly to a bank account.
Other options are using a bitcoin ATM. There are currently slightly more than 2,200 bitcoin ATMs spread around the world. If one happens to be located near you, you can use it to exchange bitcoin for cash.
Some websites allow you to sell bitcoin and receive a prepaid debit card in exchange.
Why transfer Bitcoin to your bank account?
In theory, you will one day be able to use bitcoin for any type of purchase.
It will become a replacement for fiat currencies, like U.S. dollars, which will no longer be necessary.
The idea that bitcoin will eventually replace fiat currencies is the reason so many people are investing in bitcoin now.