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What is Bitcoin? - Page 6
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What is Bitcoin?

Started by admin, Oct 28, 2019, 04:36 pm

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admin

Oct 28, 2019, 05:08 pm #75 Last Edit: Apr 20, 2020, 06:49 am by admin
Bitcoin Transaction Fees.
What are the transaction fees?
Transaction fees are included with your bitcoin transaction in order to have your transaction processed by a miner and confirmed by the Bitcoin network. The space available for transactions in a block is currently artificially limited to 1 MB in the Bitcoin network. This means that to get your transaction processed quickly you will have to outbid other users.
This site keeps a record of how Bitcoin transaction fees evolve over time.
The fees shown at the historic charts and tables are in US dollars per transaction and in satoshis per byte.
We also show the latest fee estimate in US Dollars/transaction in the list below. To calculate the fees per transaction, we consider that the average Bitcoin transaction is about 250 bytes big.
Current Bitcoin transaction fees (in dollars per transaction)
Please consider the following:
These are the estimated fees you should use depending on how fast you would like to obtain the first confirmation for a typical transaction. The transaction fee you pay will only affect the time you have to wait until the first confirmation. When making a Bitcoin transaction, recipients usually require somewhere between 2 and 6 confirmations to cons >$0.54 3 Blocks Fee: fee to have your transaction mined within three blocks (30 minutes). $0.54 6 Blocks Fee: fee to have your transaction mined within six blocks (1 hour). $0.29.


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Bitcoin Fee Calculator & Estimator.
Learn about bitcoin fees.
Bitcoin is made up of blocks . Blocks are a set of transactions, and currently restricted to be less than or equal to 1,000,000 bytes and designed so that on average only 1 block per.
10 minutes can be created. The groups the create blocks are known as bitcoin miners . These miners can pick which ever transactions they want in the block they create.
Bitcoin miners get paid all the transaction fees in the block they mine. So as such, it is in their interests to maximize the amount of money they make when they create a block. So what they do is pick the 1,000,000 bytes of transactions that results them getting paid the most money.
From a bitcoin miner perspective, they don't care of the value of a transaction, but just the size (amount of bytes), because they are only allowed to create blocks of 1,000,000 bytes or less. So miners don't consider the absolute fee a transaction has, but rather, the fee per byte .
Why are the fee estimations so high?
Eye-balling it, sometimes it looks like the fee estimates are super high. The reason that is, is because they use 95% confidence. If a block was found now maybe you'd only need 20 satoshi/byte, but it might be an hour before the next block and in the subsequent time a large amount of new transactions come in.
Sometimes you don't need such high confidence (e.g. it's not important, or you have a way of fee bumping), so you can get away with much lower fees.
Why are fees so damn high?
Politics. There's actually a pretty neat solution that offers some minor, but immediate relief. But at this stage looks like it's being held hostage to some political agenda that I'm not privy to.
Why do some low-fee paying transactions appear early in the mempool?
It's because a high-fee paying transaction depends on it, and reprioritizes it. i.e. the only way for the miner to get the money from the "good" transaction, is include a "bad" one first. It's known as Child-Pays-For-Parent (CPFP), but note that some old versions of bitcoin core, and bitcoin unlimited don't support it (and leave those transactions for smarter miner software).
Do you have historical data?
How did you build this?
The fee estimates are simply generated by calling estimatesmartfee $n on bitcoin core (0.16.0). The chart is generated by dumping the mempool and doing some smart sorting .
A Lowdown on Bitcoin Fees.
The Bitcoin website lists fast peer-to-peer transactions, worldwide payments, and low processing fees as the most important features of the cryptocurrency. Not surprisingly, Bitcoin has become extremely popular as a way to send money digitally across the globe as it solves critical problems faced by transactions executed in fiat currencies.
In fact, the number of Bitcoin transactions has been consistently rising this year. The third quarter saw 20 million Bitcoin transactions being executed, up from 17.6 million during the second quarter. What's more, the number of Bitcoin transactions has increased at the rate of at least 5% month-over-month since February 2018.
This growth can be attributed to the drop in the average transaction fees on the Bitcoin network, which was earlier proving to be a hindrance in the way of the adoption of this cryptocurrency.
A brief history of Bitcoin fees.
CNBC reported in December 2017 that users were paying $28 on an average to transact using Bitcoin. There was one Twitter user who claimed that he had to incur $16 worth of fees to send $25 worth of Bitcoin from one address to another, while another journalist had to spend $15 to send $100 worth of Bitcoin from a digital wallet to a hardware wallet. In fact, the average Bitcoin transaction fee had shot up to $55 in the third week of December last year, according to BitInfoCharts.
However, the average Bitcoin transaction fee has come down rapidly since then. BitInfoCharts reveals that the average Bitcoin transaction fee had dropped to just $0.50 in the first half of November 2018, which is probably why users are transacting more in Bitcoin to send and receive payments across the globe. But what has caused such a massive drop in the average Bitcoin transaction fees? To find out, we will first have to understand why Bitcoin fees are charged.
The economics behind Bitcoin fees.
A Bitcoin transaction has to be added to the Blockchain in order to be successfully completed. However, for a transaction to be added to the Blockchain, it first needs to be validated by miners who solve a complex mathematical problem to verify the transaction. These miners spend a lot of computing power and energy when verifying a block of transactions from the Bitcoin Mempool (short for memory pool), which contains unconfirmed transactions waiting to be added to a block for confirmation.
Now, miners need to be incentivized for the time, effort, and resources that they are putting in to validate the unconfirmed transactions. As a result, they are given a fee of 12.5 BTC to successfully mine a block, but this is just one of the incentives on offer. Miners also earn a transaction fee that's selected by the sender in a Bitcoin transaction for their effort as they play a critical role in keeping the network secure.
What drives transaction fees?
Each block of transactions on the Blockchain cannot contain more than 1 megabyte of information, so miners can only include a limited number of transactions in each block. This is why miners prioritize those transactions where they have the potential to earn higher transaction fees.
So, if the mempool is full, users looking to get their transactions through will compete on fees. They will push up the fee in a bid to get their transaction included into the next block that's set to be mined. So, the Mempool bottleneck plays an important role in determining the transaction fee, though this isn't the only aspect affecting this metric.
The transaction size also has a role to play in the fee determination. As miners can only include select transactions within the 1 megabyte block, they prefer selecting small transaction sizes because they are easier to confirm. Transactions occupying more space, on the other hand, need more work for validation so they need to carry a higher fee in order to be included in the next block.
So, there are two factors determining transaction fees -- network congestion and transaction size -- and they also play a critical role in the time taken for a transaction to be confirmed. For instance, if a user sends a transaction with very low fees attached to it and the Bitcoin Mempool is full, then miners won't prefer picking that transaction because of the low incentive involved. In such cases, it could take several hours for the transaction to be confirmed.
However, if a user is willing to pay a higher transaction fee, then the first confirmation could arrive in 10 minutes, which is the time taken to mine a block. The Bitcoin community requires six such confirmations for a transaction to be completely validated. This means that if there's no network congestion and the fee attached is high, then the transaction should be successfully processed in an hour.
The future of Bitcoin fees.
Earlier we saw that Bitcoin fees have dropped rapidly over the past year, spurring a growth in the number of transactions. This can be attributed to the smaller Bitcoin Mempool size. However, in case the number of unconfirmed transactions increases at a faster pace than the rate at which new blocks are mined, there will be network congestion. This is when the average Bitcoin transaction fees will go up.
This is the scalability problem faced by Bitcoin thanks to the limited number of nodes. However, the community is coming up with ways to circumnavigate this issue so that numerous transactions are executed quickly with low fees. Earlier this year, a user was able to carry out 42 transactions using the Lightning Network and spent just 4.9 cents in transaction costs.
The Lightning Network is a second-layer payment protocol on top of the Bitcoin blockchain that's capable of conducting a high volume of transactions at speed by reducing the on-chain load. As such, there's a good chance that the average Bitcoin transaction fees will remain low going forward thanks to the development of such payment protocols, thereby boosting the adoption of this cryptocurrency as a means of digital payments.

admin

Simple Bitcoin Converter.
Exchange rate calculated using USD Bitcoin price.
About.
This site allows you to:
See the Bitcoin exchange rate i.e. the current value of one bitcoin. Convert any amount to or from your preferred currency.
Bitcoin is a digital currency . You can use Bitcoin to send money to anyone via the Internet with no middleman. Learn more here.
Usage.
Keep an eye on the Bitcoin price , even while browsing in other tabs. Simply keep this site open and see the live Bitcoin price in the browser tab. (Note: Some mobile browsers don't yet support this feature.)
See how many bitcoins you can buy . Enter an amount on the right-hand input field, to see the equivalent amount in Bitcoin on the left.
See the value of your Bitcoin holdings . Enter the number of bitcoins you have, and watch their value fluctuate over time.
Compare Bitcoin to gold and other precious metals by checking out the converters for Bitcoin to gold, Bitcoin to silver, Bitcoin to platinum, and Bitcoin to palladium.
Try it on your phone or tablet --this site is designed with mobile devices in mind.
Convert in terms of smaller units e.g. microbitcoins (µ), millibitcoins (m). Toggle using keyboard shortcuts: 'u', 'm', and 'k'.
Bookmark your preferred currency e.g. Bitcoin to Euro, or Bitcoin to British Pound. This site currently supports 64 currencies.
Price data is continually gathered from multiple markets. A weighted average price of these markets is shown by default (based on 24-hour trade volume). Alternatively, you can choose a specific source from the settings menu.
Development.
Linkable (i.e. bookmarkable, shareable) amounts. A widget to be embedded on other sites.
Options added for millibitcoins, and 3 new cryptocurrencies. 2014-03-16 Volume-weighted pricing implemented as the default option. 2013-11-29 Multiple data source options included. Currency chooser improved. 08-16 Major Android-related bugs fixed. (Thanks to those who donated!) 07-07.
Contact.
You're welcome to contact the creator of this site at Reddit or BitcoinTalk. Bug reports are greatly appreciated.
Disclaimer.
The exchange rates on this site are for information purposes only. They are not guaranteed to be accurate, and are subject to change without notice.

admin

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Bitcoin Exchange YOU CAN TRUST.
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Bitcoin Price.
Bitcoin Price.
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Most popular methods: Visa, MasterCard, bank transfer (SWIFT, SEPA, ACH, Faster Payments), cryptocurrency.
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Open account for free and start trading Bitcoins now!
Among the numerous websites providing Bitcoin exchange services, the positive reputation of CEX.IO makes it worth the trust of the users all over the world. With the customer base of over 3,000,000, the platform can be recognized as the one that can be relied on. Starting your Bitcoin trading on a platform with substantial history, you will benefit from a deep understanding of the market and customers’ needs.
We are constantly working on enhancing the security, ensuring the high level of customer support, and providing our users with new opportunities for trading on the Bitcoin market. CEX.IO is regularly considering the addition of new coins, which was not so long the case with Dash, Zcash, and Bitcoin Cash. Still, every cryptocurrency has to pass a thorough check to be listed. Our due diligence and concerns about the quality of the service yield results. Now, we are moving forward to achieve the status of the best cryptocurrency exchange.
Best Cryptocurrency Exchange: What does It Mean for Us?
For you to be able to recognize a reliable online exchange and sort out those that appear to be too weak, we list several features, paying attention to which would help you to make the right choice.

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XBT - Bitcoin.
Our currency rankings show that the most popular Bitcoin exchange rate is the XBT to USD rate. There is no official ISO currency code for Bitcoins, although XBT is commonly used. The currency symbol is XBT. Below, you'll find Bitcoin rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read the XE Currency Blog, or take XBT rates on the go with our XE Currency Apps and website.
Notice: Bitcoin is not legal tender in any country and is not recognized as an official currency by any regulatory authority. XE does not endorse nor express an opinion as to whether or not Bitcoin is an official or legitimate currency. More info ►
Top XBT Exchange Rates.
Currency Facts.
Name: Bitcoin.
Symbol: XBT.
Minor Unit: 1/100,000,000 = Satoshi.
Top XBT Conversion: XBT/USD.
Top XBT Chart: XBT/USD Chart.
XE Currency Converter.
Why are you interested in the XBT?
Bitcoin History.
Bitcoin information Bitcoin is a decentralized virtual currency. This currency is exchanged digitally and managed by a peer-to-peer network, rather than a central bank or authority. The supply of Bitcoins is automated and released to mining servers; with a limit of 21 million Bitcoins being reached by 2140. Each Bitcoin is a piece of code that has its own transaction log with timestamps. The coins are stored in an owner's virtual wallet and can be transferred and exchanged for goods and services. Transactions are public and although they are relatively anonymous, it is possible trace identities back to real-life individuals. There is debate as to whether or not Bitcoin should be considered a currency, a commodity, or a hybrid of both.
Risks in Using Bitcoins Bitcoins are associated with a high level of risk, as they are volatile, not time-tested, and currently under no regulation or legislation. There have been incidents of online Bitcoin wallets being compromised by hackers leading to theft of Bitcoins.
Bitcoin Currency Code Bitcoin is not recognized by the ISO and therefore does not have an official ISO 4217 code. A currency code is generally built from the two-digit ISO 3316 country code and a third letter for the currency. Although "BTC" is often used in the Bitcoin community, BT is the country code of Bhutan. An X-code reflects currencies that are used internationally and so, XE has chosen to use XBT to represent Bitcoin.
Bitcoin History Introduced in 2009, Bitcoin was created by a developer or group of developers going by the pseudonym Satoshi Nakamoto. Initially the value of the currency was set by users on forums until the first exchange outlet was established. It is known as a "crypto-currency"; meaning that the money and transactions are secured and controlled through encrypted passwords. Since its introduction, Bitcoins have been gaining momentum worldwide, with over 1,000 merchants accepting the currency.

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Bitcoin Exchange Rate.
The Bitcoin currency or the virtual money is still holding its head up in spite of the negativity it has been receiving in the news lately. First, there is the news about the bankruptcy and hacking of the first Bitcoin bank, Flexcoin, and the suicide of the business executive in Singapore.
The question now is how strong is the Bitcoin? As of now, the Bitcoin exchange rate is still high at 647 dollars for every Bitcoin. There were predictions that the value of Bitcoin will drop drastically brought about by the many negative news about Bitcoin, but apparently, the value is still high.
Bitcoin users do still have faith in the system. They believe that each Bitcoin is safely protected by a cryptographic code that is very difficult to tamper with. It was in the news lately how the Bitcoins placed in the hot wallet were lost from theft because a hacker successfully transferred funds. Those Bitcoins that were placed in the cold storage were not touched because the cold storage remained off line. Despite the hacking incident, Bitcoin exchange rate is still at its highest and the users are still showing that their faith in the system has not faltered.
Why People Use Bitcoin.
The use of the digital currency or Bitcoin is becoming very appealing to more and more people. This is because of the convenience of wiring funds from one person to the other. There is also the convenience of not having to divulge too much information about themselves. In a regular bank, a person will be asked to fill up a form and expose sensitive information such as his monthly income, and so on and so forth. At Bitcoin, all it takes is to download the software or the app and the user can now start to acquire Bitcoins in many different ways.
The most appealing feature of the Bitcoin software is that the user can do financial transaction with the use of his computer or smartphone with no additional charges. PayPal users pay a certain amount of surcharge for transfer of funds, at Bitcoin, it is totally free. Additionally, there is no limit as to the amount of Bitcoins a user wants to transfer. Thus, the system is very vulnerable to illegal activities. It is this very reason that the government in some countries are working to regulate the.

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Bitcoin exchange rate.
BitPay has relationships with many digital currency exchanges around the world. When calculating our exchange rates for BitPay invoices, we only incorporate rates of digital currency exchanges which meet our regulatory, operational, and market depth requirements.
To calculate the exchange rate for US Dollars (USD), we typically pull the market depth from exchanges with adequate liquidity and reliable withdrawal capabilities in the USA and Eurozone. We factor "market depth" into our exchange rates, which means that the larger the value of the invoice, the lower the exchange rate. This is usually only noticeable on very large invoices.
We set exchange rates for non-USD currencies indirectly using the Open Exchange Rates API. In the future, as digital currency markets in non-USD currencies mature, BitPay will use those markets directly.
BitPay's exchange rates are available via JSON API.

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Currently Offline - Stay Away Until Further Notice.
Top 10 Best Bitcoin Exchanges to Buy & Trade Bitcoin & Cryptocurrency 2019 list.
Although you should always do your own research before investing, the above table is the best bitcoin exchanges to buy bitcoin online. If you are new to cryptocurrency exchanges then check out our exchange finder section which breaks down all exchanges by different criteria. We rank exchanges by the following criteria:
We rank the exchanges first and fore-mostly by their security measures and how trust worthy they are considered to be. User feedback is essential for us to create a rounded view of each exchange, make sure to give your input on exchanges you regularly use and those that you have tried and discarded immediately.
We also look at the exchanges accessibility is terms of user experience, how they can buy bitcoin, be it with credit card, paypal or other forms of payment. Be sure to bookmark this page for future reference.
For a list of all the exchanges we have reviewed, see the exchanges page.
How to buy bitcoin using this list of Bitcoin exchanges?
This list should be used as a guide, make sure to read our reviews on each exchange and ultimately make your own decision. All exchanges have their pros and cons, and you should make sure that the exchange you choose is suitable for you.
Hopefully the list of best bitcoin exchanges and cryptocurrency exchanges above will be of good use when buying and trading bitcoins. Each outstanding site should have detailed instructions. From here, one can easily figure out how to buy bitcoin with credit card, paypal, cash, bank transfers. Once you have got some coins check out the list of available wallets.
What is the top crypto exchange site to buy bitcoin in the above list?
It's a tough question in my opinion. Each will have an upside compared to others. Check a few out and look up on forums to see what users are saying about the service provided, and which they think are the best Crypto Exchanges to buy bitcoin easily. Localbitcoins.com is a really cool crypto exchange p2p bitcoin exchange for beginners wanting to buy for their first time. The service is all over the world, meaning you can use euros, pounds, yen, Australian dollars, Swiss francs, Canadian dollars, krona, rubles, lira, rupees and so on.
If you pay by physical cash then you get to meet the person in real life. Alternatively you can do a fast bank transfer and the site will hold your coins in escrow for you once it goes through. Obviously there are more simple ways to start using a crypto exchanges and bitcoin exchange and buy altcoins. Some like to buy with paypal, but not many leading bitcoin exchanges accept this because of charge backs.
Having used localbitcoins myself, I found it a great way to sell bitcoins. Especially if you are trying to shift a lot, you can wait for the price you want and slowly sell, I found that despite the charge I got on average a better price than other exchanges.
Which are the largest exchanges to buy cryptocurrency?
Generally the biggest bitcoin exchanges to buy cryptocurrency will be toward the top of the above list. For example eToro, Bitfinex, Coinbase Pro (GDAX), Bitstamp, Coinbase (also the best usd bitcoin exchange) all represent large volume proportions. Daily volume varies, and therefore the world's largest cryptocurrency exchange vary each day. Go to bitcoinity for a good list of all the best bitcoin exchange site to buy cryptocurrency and their proportional volumes. Some find this handy for arbitrage between markets.
What about the best cryptocurrency exchange?
Sadly, with the demise of Cryptsy there is a need for a new major first-rate cryptocurrency and Bitcoin exchange (aka altcoins). Having many medium-sized cryptocurrency exchange bitcoin sites is a better situation than having one large amazing option. Binance has now replaced Poloniex as the largest most amazing option to exchange bitcoin. Its platform is functional enough to have attracted tens of millions of new customer every month.
Things feel smooth when using Binance. All big and small trading pairs are offered and it is now possible to do cryptocurrency margin trading on major altcoins. This is a cool feature, but use it with caution as leveraged trading has a certain risk factor. Keep in mind that some of the best bitcoin exchange sites also do altcoins. Yobit, Bittrex, Cryptopia and Changelly, are great options worth checking out. Some even offer short selling on major coins.
You may also like to check the coin rankings & market capitalizations on coinkapp - which has a splendid comparisons list of the top cryptocurrencies. Alternatively, coinmarketcap offers a rather simplified list.
The best place to buy bitcoin securely.
This is an important question to ask when choosing the best place to buy bitcoin. Yes, putting the words trustworthy bitcoin exchange and the best place to buy bitcoin in the same sentence seems like an oxymoron, especially when remembering the shiny days of MtGox (aka Empty-Gox). While the bitcoin protocol has never been hacked, many peripheral businesses have. Perhaps the best question to ask would be: which are the least secure bitcoin exchanges. Generally, those listed here are optimum and of good standing, but please proceed with caution. Remember never to leave more btc online than you can afford to loose.
A sample of some reviews below, or view our full cryptocurrency exchanges reviews!
Below are pros and cons of some of the most popular exchanges on the market.
eToro.com.
eToro was one of the first CFD providers to offer cryptocurrencies on their platform. With an extremely easy to use interface, it is a huge attraction for beginners who are looking to invest in crypto for the first time. Buying crypto as a CFD is different to buying and owning the actual cryptocurrency, but does it really matter? We take a look at eToro in more detail.
Increased liqu >Cons.
Currently offers 14 cryptocurrencies You don't own the underlying asset.
* 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Cryptoassets are highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.
Coinbase.com.
Coinbase Update: Coinbase buy and sell orders resolved but performance still 'degraded'. Coinbase combine an attractive interface, a great site to get bitcoins with a debit card, and an insured online wallet for your digital currency. Over 30,000,000 users are signed up, including 75,000 merchants, and 15000 developer apps. Works well for European, and American customers. It started with just bitcoin trading but has now expended to include Bitcoin Cash, Ethereum & Litecoin. I've also written a comprehensive Coinbase review for more detail.
The most user-friendly and trusted platform, currently has 200 million page-views per month Lots of long-time customers Online wallet with insurance.
Slightly more work needed when verifying account.
Binance.com.
Binance Update: Binance offers $250,000 reward for details that lead to arrest of hackers. The China-based cryptocurrency exchange began live trading in July 2017, so is fairly new to the crypto exchange world. However it has proven itself thus far to its clients, with its robust charting software and both basic and advanced interfaces attracting novice and expert traders. We've written an in depth analysis of Binance.
Low fees on transactions and withdrawals Offers a vast array of coins including typically rare coins The team has an excellent past in crypto and finance High liqu >Cons.
Clarification needed on how Chinese regulatory will affect the exchange New platforms require time to gain client trust.
Bittrex.com.
Bittrex Update: We've unlisted Bittrex from the ranking while new account registrations remain closed. I'll be re-listing the exchange once new sign-ups are allowed. Currently only corporate accounts are being accepted, which is not ideal for cryptocurrency exchanges.
Update 2: Bittrex now claims they are compliant with SEC's ICO rules.
Bittrex has earned it's place as the new contender to the throne of world's largest crypto exchange. Years of hard work and some lucky circumstances (BTC-e shut-down, Poloniex exodus, Cryptsy) have compounded a steady inflow of new users. It is a great place to trade bitcoin and other cryptocurrencies. I'll let you read the detail in my Bittrex review, which has some important facts and analysis.
Nearly 200 trading pairs Currently the most visited altcoin exchange with over 150 million monthly visits Trusted by millions of traders High volumes available for big trades.
New account registration temporarily disabled to cope with demand. Cannot scale as well as Poloniex or Coinbase Heavy vetting requirements - especially for a non-fiat exchange Minor scaling issues as users flow in to sing-up.
Localbitcoins.com.
Localbitcoins is quite a popular for p2p (person to person) transactions all over the world. Simply put, you interact directly with the guy selling to you. Out of all the bitcoin sites listed here, this is one of the first and most reputed. Escrow and dispute resolution is provided by the site. See my thorough review of Localbitcoins, I personally use it to cash out of positions quite often.
Great way to meet people PayPal also available No verification needed in most cases Popular in all countries around the globe.
May take longer to conclude in-person transactions Risks associated with anonymous transactions Reports of ome seller bank accounts being been suspended after receiving money.
Cex.io.
CEX is one of those international bitcoin exchanges accepting euros, British pounds, US dollars, Russian Rubles, Ethereum, Zcash, and Dash. Needless to say, CEX is very popular within those currency regions. There is a no-nonsense landing page, giving you the option to buy or sell 100, 200, 500, or 1000 USD worth of Bitcoin. I like the transparency given to users about how much they will actually pay - even before they sign up. Good security practices, a modern and simple user interface, and both bank transfer & credit card purchases are available. CEX is indeed a good beginner-optimized alternative to Coinbase. Read the comprehensive Cex review for more details including fees, verification, & security.
Bank transfer and credit card deposits Very easy to use & great for beginners Users know how much they will pay before even signing up Buying and selling Ethereum is available.
Recently Litecoin was unlisted.
Kraken.com.
Kraken Update: In late 2017 Kraken was temporarily unlisted here following extensive trading engine and UI issues. Thankfully, in January 2018 the website underwent a successful migration and all systems are now reported to be functioning to everyone's satisfaction.
Kraken works well through SEPA, has an easy verification process (expect 4-6 weeks vetting with current backlog) compared to Bitstamp, and is very knowledgeable when it come to cryptography and security. As of early 2017, this platform has been re-positioning themselves as a crypto exchange by adding multiple new altcoins. I've written an in-depth Kraken review with everything you need to know..
Cheapest rates and fastest times for trading, depositing and withdrawing Work best for Europeans and North America Has successfully resloved site-w >Cons.
A recent code update caused the site to be offline for 3 days. Recently disabled stop-loss and other trading features without giving explanation to the community Site not as visually intuitive as Coinbase or Cex.
GDAX.com.
GDAX is a cryptocurrency exchange that is great for technical traders and offers high levels of liquidity. Deposits are in USD and can be processed just as rapidly as withdrawls. Also happens to be the best ethereum exchange for serious players in this space. For more information on GDAX.
An integral part of the trusted Coinbase brand Optimized to be a serious trading site.
More ID processing steps than on Chinese trading platforms.
Xcoins.io.
Xcoins describes itself as a Bitcoin lending service that allows traders to get bitcoins by using a credit card or PayPal. Due to charge back with paypal, buying cryptocurrency has been difficult however Xcoins claims to have found a way around it. Their unique peer-to-peer lending model connects lenders and borrowers and allows users to get bitcoins through a series of secure loans. Each secure loan can be paid with any PayPal-recognised payment method. Unlike regular cryptocurrency exchanges, borrowers that no longer want the bitcoin can get their money back. Lenders may also choose to join the platform for free.
Two-factor authentication Good customer service Easy verification Users get their bitcoin immediately after paying the lender.
Low minimum loan amount Website was hacked in 2017 No extensive features on the website.
Bitstamp.net.
Update: Reports suggest Bitstamp will be sold to a South Korean gamain company. The price thought to be $350 million.
Bitstamp are big in Europe and, since 2011, have moved from Slovenia, and the United Kingdom in search of sound regulatory environments. Good volumes are available for larger trades. Well received by people using SEPA and credit cards. Both euro and US dollar deposits are accepted. I like Bitstamp because they really focus on being a pure bitcoin-only exchange (update: since 2017 Bitstamp have started adding popular cryptocoins). Please read my Bitstamp critique for analysis of factors such as security, fees, and the history.
Card purchases available (visa mastercard and visa) in Europe and the USA. HQ Located in Luxembourg Good for large transactions yet easy to use for beginners.
Not available outside of EU and the USA.
A lot of you have asked me whether trading bitcoin is better than buying it. The answer depends on your goals, and experience of bitcoin trading. If you're looking to hold bitcoin as a long-term investment and check the price intermittently, it's better to buy bitcoin. This way you benefit from a small, one time exchange fee and the assurance that you hold a physical bitcoin in your wallet which can be spent at various retail stores.
Trading requires daily technical analysis and a sound understanding of trading platforms. I wouldn't recommend this unless you're experienced with eToro or an MT4 platform. That said, there are benefits to bitcoin trading. It gives you the option to quickly scale in and out of positions, and take profits at a desired price. When you trade bitcoin, you can take advantage of daily fluctuations in price. The CFD brokers used for trading are regulated, and your funds are arguably more secure than at an exchange like Coinbase. You will be charged spread (fee) on each trade, but you can execute a buy or sell order quicker. The biggest benefit to trading bitcoin is the limit - it's far easier to open a $100,000 position at a CFD broker than go through stringent checks and buy an equivalent amount on Coinbase.
My honest opinion? Do both - start off by buying bitcoin at exchange, but learn to trade bitcoin so you can better take advantage of price movements.
There are loads of places where you can buy and sell Bitcoin in the US. In fact, some of the world's most popular Bitcoin exchange sites are American.
Coinbase is one of America's most popular Bitcoin exchange site and probably the fastest and easiest way to buy Bitcoin in the US. The site has an 'Instant Buy' option for credit or debit card purchases and setting up an account is quick and easy with no long waits for verification (this can be an issue with some exchange sites).
If you wish to buy Bitcoin via bank transfer on Coinbase, it can take up to five days which is a bit annoying. Although, if you do buy using a connected bank account, Coinbase charges a much lower fee for purchases - it's 3.99% for credit/debit card purchases and only 1.49% for bank transfer purchase.
I'd say Coinbase is the easiest way for newbies to buy Bitcoin because the site specifically caters to those who may not be all that familiar with cryptocurrencies. Admittedly, the fees are a little on the steep side compared to, say, LocalBitcoins and Kraken, but the good thing about using Coinbase is that you don't have to worry too much about security.
Coinbase gives users the option to store coins in what it calls 'the Vault' (a more secure location because allegedly not even Coinbase can access coins in the Vault). This is good because security can be a concern with some of the lesser known sites. In short, Coinbase is a trustworthy brand and a safe and secure place to buy Bitcoin.
Oh, and additionally, Coinbase accepts payment via PayPal, which many sites are yet to cater for. As well as Bitcoin, Coinbase also offers support for Ethereum and Litecoin.
Of course, Coinbase isn't your only option if you want to buy Bitcoins in the US. There are countless other sites, some of which charge lower fees than Coinbase so it's worth considering other options.
If it's lower fees you're after, LocalBitcoins is another good option because the site simply puts buyers and sellers in contact with one other and offers an escrow service to ensure nobody gets ripped off. It is solely for bitcoin trading but a benefit it has is that it operates in all countries and buyers can pay for Bitcoins however they like, though most pay via cash deposit. Just remember to follow the rules of the site and beware of scammers.
Finally, if you want low fees but still want to go the traditional exchange route, I'd recommend either Gemini, a New York-based site which offers some of the lowest fees around (but doesn't operate in all states so check first to see if your state is catered for), or Kraken, which also charges low fees but can be a bit tricky for new users and the customer service isn't all that great.
To be clear, I've only talked about sites where you can buy Bitcoin using FIAT money. There are other sites you can use if you already have another cryptocurrency and want to use that to buy Bitcoin.
If you are interested this is a good page to give you information on buying bitcoin the in the US.
At the time of writing, OKEx is the exchange with the largest bitcoin volume going through it. However, this changes on a regular basis.
With cryptocurrency exchanges moving locations (to avoid countries clamping down on them, namely China), the volumes of bitcoin traded at each one are often found to fluctuate.
Not only exchange locations but exchanges abilities to keep their trading functionality working is also another factor when looking at their volume. Binance, for example, recently stopped its trading services to update its systems. During that period, volumes were obviously completely down, however now they're back, they sit second for the highest volume in the last 24 hours according to coinmarkepcap.com.

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It is always worth keeping an eye on the news if you are interested in exchange volumes, watch out for regulation being introduced into different countries.
Bitcoin exchange fees are a pain, there's no doubt about it. However, if you shop around you can avoid getting totally ripped off when you buy Bitcoin.
Bitstamp boasts deposit fees as low as 0.05% and, depending on how much Bitcoin you want to buy, you'll be charged a transaction fee of between 0.25%-0.1%. If you deposit/withdraw your money via SEPA (Single Euro Payments Area) you won't be charged any hidden commissions, as is the case with some sites.
I'd say Kraken is also a good shout if it's low fees you're after. Their fee schedule can be found here: https://www.kraken.com/help/fees.
The good thing about Kraken is you can buy using FIAT and they charge you next to nothing to withdraw your funds. Most other sites charge higher fees when you buy and then again when you withdraw so you get bitten twice, so to speak.
Coinbase's rates are relatively low if you pay via a connected bank account (although the downside is this can take up to five days). When you buy via bank transfer, Coinbase usually charges a 1.49% commission on Bitcoin purchases (this varies slightly depending on what country you are in).
If you are in Europe and in a country which participates in SEPA (Single Euro Payments Area), you are charged next to nothing to withdraw funds (€0.15 with Coinbase) which is great. The same goes for all sites which support SEPA. Kraken, for example, charges €0.09 for withdrawals.
Unfortunately, if you're in the US, Canada, Australia or most other parts of the world, you'll be charged a bit more to withdraw funds. This is annoying because you're effectively paying commission twice: once when you buy and once when you withdraw.
Lowest fees are probably on LocalBitcoins because you're buying directly from other people and the site doesn't take much, per trade. Using LocalBitcoins maybe requires a tad more technical know-how but the site is good and reliable and guides you through the process of signing up and initiating a trade nicely.
Local Bitcoins charges a flat 1% fee on each purchase.
There are some Bitcoin sites which allow payment to be made via PayPal. Coinbase, for one, offers support for PayPal. In fact, Coinbase is probably the most reputable site which allows payment via PayPal.
The easiest way to buy Bitcoin online is via exchange sites such as Coinbase or escrow services like LocalBitcoins. The exchanges mentioned will explain how to buy cryptocurrency in a simple manner.
You need an internet connection to be able to use these services. Once you've purchased Bitcoin, however, you can store coins in an offline wallet for added security.
You can do this by storing the private keys which relate to the coins on either a paper wallet or a hardware wallet.
If you're looking to buy large quantities of Bitcoin, you can use OTC (Over the Counter) exchanges. OTCs specialize in fulfilling large orders and, as such, can usually execute your order a lot faster than traditional exchanges can.
With OTC exchanges, you can essentially buy Bitcoin offline because you either phone up or more likely visit the offices in person.
This is a problem lots of people are now beginning to run into. With many exchanges there are high levels of verification to go through before even getting close to that sort of initial deposit.
If you are based in the UK, you can organise a meeting with them to discuss the best ways to invest larger sums of capital.
There are other exchanges out there that are specifically designed for high rollers, Cumberland mining will only accept clients who are looking to invest over $100,000.
Plenty of exchanges allow you to buy Bitcoin instantly but you'll usually have to pay a bit more for the privilege.
Coinbase, for example, has an Instant Buy option but you must use a credit or debit card so the transaction can be authenticated instantly and they charge 3.99% per purchase, rather than the usual 1.49%.
Many other sites offer a similar service but, like with Coinbase, it will usually cost a bit more than to buy via a connected bank account or wire transfer.
LocalBitcoins is another great way to buy Bitcoin quickly. Setting up an account doesn't take long and, as long there are enough sellers, it is usually pretty easy to execute an order.

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Ethereum to Bitcoin Exchange Rate Points to Slow Altcoin Apocalypse.
Cryptocurrency prices wavered on Wednesday following the biggest 24-hour devaluation in months, leaving little guarantee of a swift recovery in the near term.
For Ethereum (ETH), the grind lower has been much more extreme when valued against bitcoin (BTC). While the ETH/BTC exchange rate has been in recovery throughout September, the year-to-date picture is grim. How ether performs relative to the 'king of cryptocurrencies' offers eye-opening insights into the broader altcoin market.
Crypto Markets See Limited Upside.
One day removed from a devastating price collapse, cryptocurrency markets were relatively unchanged on Wednesday. That trend extended into the early hours of Thursday trading, with the combined value of all coins hovering around $222 billion, according to CoinMarketCap. Markets recovered to a high of around $227.7 billion before succumbing to a fresh round of selling that shaved another $10 billion.
The price of bitcoin fell 2.6% to $8,461, dragging its market-dominance rate slightly lower. Ethereum hovered around break-even and was last spotted at $170.54. Ripple's XRP climbed 2.2% to $0.2444.
The biggest percentage gainer among the majors was Stellar (XLM). The no. 10 cryptocurrency rose 5.1% to $0.0583.
Ethereum/Bitcoin Suggests Bears are in Firm Control.
Bitcoin's status as an uncorrelated asset is about to be revoked, as a scarily close...
It's safe to come out now, says Andreas Antonopoulos, the threat posed to bitcoin by...
Tuesday's sudden reversal spares us from the technical analysis that is usually needed to explain why cryptocurrencies are in a bear market. But a key proxy for altcoin demand - namely, the ETH/BTC exchange rate - has been preparing us for the worst long before Tuesday's volatile ride.
Surprisingly enough, Ethereum has returned a positive 27% against the dollar this year - and that's even after we factor in the latest price drop. At its peak, the so-called developer's cryptocurrency was up nearly 160%.
The picture is completely different when we size up ether to bitcoin.
Since 2019 began, ETH/BTC has fallen over 44%. At its lowest point earlier this month, the pair was down more than 55% year-to-date.
In mid-June, when crypto markets were in rotation, ether-to-bitcoin was considered bullish above 0.03. That level has become progressively harder to overcome as bitcoin continues to preserve most of its value.
The decline in ether's performance relative to bitcoin hasn't occurred in a vacuum. It has been accompanied by a more than 20 percentage point gain in bitcoin's dominance rate and an inability for altcoins to preserve their value. After the ICO fallout of 2018, Ethereum has lost a major catalyst stemming from reservation demand, or the need to hold ETH to participate in new token offerings. As this trend continues to unfold, ether's performance against bitcoin gives us a good snapshot of where the market is headed.
As it now stands, ether's weakness against bitcoin magnifies the downward trend facing altcoins and tokens since the tail end of the ICO boom. In the absence of new capital coming into cryptocurrencies, bitcoin appears poised to live out the maximalists' dream of dominating the market.
This article was edited by Sam Bourgi .

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BITCOIN TO NAIRA EXCHANGE RATE 2019 Price | HOW TO BUY.
This article is an overview of the latest bitcoin to Naira exchange rate price and how to buy bitcoin with naira and is subject to review over time. You can scroll to the bottom of this article to see the latest exchange rate between bitcoin and naira.
Bitcoin To Naira Exchange Rate Today 2019 Price.
1 BTC To NGN N3,544,854.72.
How To Buy Bitcoin With Naira Price Today.
Steps On How to Buy Bitcoin With Naira.
Hello, for Nigerians looking for a way to buy bitcoin in Naira, you got no worries, there several methods which are available for Nigerians and those who want to buy some bitcoins. It's not as difficult as it sounds, especially for the fact that many websites will reject your regular cars such as Verve Cards, which are only used locally. In fact, some master cards won't work, but then you will a knowledge of website which will accept your cards, or website which will accept a direct transfer.
Option 1: Using MyTopExchange.com.
MyTopExchange is a fast growing indigenous bitcoin exchange where you can buy and sell Bitcoin with Naira. The company has been in operation since November 2012 first as an e-currency exchange, then added cryptocurrency exchange to their platform around in 2016.
Just visit their website on www.mytopexchange.com to register an account with them Then login to your newly created account with your email address and password Inside your account dashboard, click for the Fund ECurrency page and follow the instructions. You would see their daily exchange rate price for buying bitcoins. If you are selling bitcoins to receive Naira, then you click on the Withdraw ECurrency page also on your account dashboard and then follow the instructions. You would find the company's bank account details on the page so you can make an online transfer or cash deposit. For selling of bitcoins, you would find their BTC address to send to. After you have sent Naira payment to their account or sent bitcoins to address, fill the funding/withdrawal form on the same page and your bitcoin wallet or Naira bank account would be credited immediately. You can also buy or sell bitcoins at the MyTopExchange office in Lagos. Contact them on 08144333114.
Option 2: Using Luno.com.
Luno is one of the most trusted websites where you can buy Bitcoin in Naira, yes Naira. Personally, I have been using them for 3 years, without issues.
Just log in to there website, create an account in few minutes, Verify your identity using BVN because they are linked to a bank in Nigeria which will enable us to buy Bitcoin in Naira that is why you need to enter BVN. After verification, give them few hours your account will be verified, instantly you can use your Naira Master card, using a payment gateway, you will be asked how much you need to make the purchase, enter the amount, Your card details, CVV, Expiry date, Then hit Deposit. An OTP code will be sent to your phone, enter that code to allow them to debit the same amount from your bank at a little token. Now money will be added to your Naira wallet on your Luno profile, simply convert this Naira funds into Bitcoin, viola! You get your bitcoins using naira.
Option 3: Using Remitano.
Another method is to buy using Remitano, this is a very simple platform for cryptocurrency exchange, you will meet buyers and sellers, who accept money in Naira, simply.
Register Log in to your account Find the Buy button on your dashboard Enter the amount you need, A number of similar sellers will be displayed, these buyers must have requested an amount similar to yours. Then select the seller who sales cheaper according to how much you can afford, note that some sale higher to others, it's your choice on who to buy from Accept the seller's sale price, and you will be given the sellers account number in a Nigerian bank Simply make a mobile transfer or rush to the bank to make a deposit, within 15 minutes Finally, click on confirm payment.
The moment you inform the seller you have deposited his money in Niara, your Bitcoin will be credited to your wallet immediately. This same system exists in Paxful, another trusted Bitcoin buying platform in any currency including Naira.
Conclusion: There are several other methods you can buy Bitcoin in naira apart from the above, however, note that all carry some amount of risk, the less risky is Luno that was why I put it first. If you have further inquiries, hit the comment box.
Bitcoin To Naira Exchange Rate 2018.
NGN BTC 269 0.00010 537 0.00020 1,343 0.00050 2,685 0.00100 5,370 0.00200 13,426 0.00500 26,852 0.01000 53,704 0.02000 134,261 0.05000 268,521 0.10000 537,042 0.20000 1,342,606 0.50000 2,685,212 1.00000 5,370,424 2.00000 13,426,061 5.00000 26,852,122 10.00000 53,704,244 20.00000.
Bitcoin To Naira Exchange Rate Today.
Brief History of Bitcoin Price.
Bitcoin is arguably the world's most popular cryptocurrency with an unknown inventor(s). Though the invention of bitcoin was done under the name Satoshi Nakamoto, there are still disputes over the actual person (or group of people) who invented the cryptocurrency. In 2009, bitcoin was officially launched as open-source software and ever since then, it has attracted millions of investors from across the globe.
Bitcoin Exchange Rate To Naira.
For the purpose of symbolic identification, bitcoin is denoted with two "ticker symbols'' which are XBT and BTC. In conversion, bitcoin can be split into subunits of either 1/1000 millibitcoin or 1/100000000 satoshi. Besides being a globally recognized payment system, bitcoin is influential for being the first digital currency without a centralized system such as a "single administrator'' or a "central bank''. For bitcoin transactions to be carried out, intermediaries are not needed and this gives bitcoin operators the chance to transact with each other directly.

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The Conception of Bitcoin in Economics.
Originally, bitcoin came from Satoshi Nakamoto who is regarded as its inventor and original designer. As designed by the latter, bitcoin is said to be a digital asset functioning as a form of currency. In this regard, bitcoin has been given alternative names including virtual currency, digital currency, cryptocurrency, electronic currency and digital cash.
Although bitcoin was designed by its originator to function as a currency, there are still disputes over its currency status. As stated by The Economist in 2015, bitcoins consists of various monetary qualities which are found in every currency. In addition to the fact that bitcoins are hard to earn, the two other monetary qualities found in them -according to The Economist -are (i) easy verification and (ii) limited supply.
By and large, many economists have attested bitcoin's currency status claiming that the cryptocurrency has a convincing capability to function as a medium of exchange, a store of value and a unit of account. In Economics, the three latter qualities are classified as the basic functions of money or any currency. Since bitcoins show the tendency to exhibit these qualities, many economists have appreciated their currency status.
Among all the monetary qualities bitcoins seem to exhibit, the medium of exchange is considered the most notable because, in 2015, it was recorded that more than 100,000 merchants had legalized the use of bitcoins as an exchange medium. However, as a store of value, bitcoins have failed to show convincing stability especially when the bitcoin market underwent volatility in 2014. At the time, retailers receiving bitcoins had no option but to resort to other currencies as their basic unit of account.
General Use of Bitcoins.
Bitcoins are currently in wide use and statistics provided by various veritable sources have shown that there are millions of unique bitcoin users. Recorded as of 2017, Cambridge University revealed that the number of unique persons with cryptocurrency wallets ranged from 2.9 million to 5.8 million. Moreover, it revealed that bitcoin was the commonest form of cryptocurrency used by these people.
In 2013, the use of cryptocurrency was not yet significant as records revealed that the number of users ranged from 300,000 to 1.3 million persons. But today, the number of cryptocurrency users has increased massively across the world.
Acceptance of Bitcoins.
Thousands of merchants have appreciated the use of bitcoins as a medium of exchange. In 2015, it was recorded that over 100,000 merchants had started accepting bitcoins. In December 2014, it was recorded that about 4 globally recognized firms received payments in bitcoins. These firms included Microsoft, Newegg, Dell, and Paypal.
In 2016, five out of the world's leading online merchants legalized bitcoin's acceptance as an exchange medium. However, in 2017, the figure decreased to three online merchants and various reports revealed that high transaction fees were the major factor behind this decline. At the time, some consumers decided not to spend their bitcoins as a result of exorbitant transaction fees which relatively stemmed from value increase, prolonged transaction times and scalability issues.
In November 2017, PwC became the first "Big Four'' accounting firm to accept payment in bitcoins. Meanwhile, the acceptance took place at PwC's office in Hong Kong where the cryptocurrency [bitcoin] was received in exchange for the advisory services rendered to local experts in cryptocurrency and blockchain technology.
Still On Bitcoin To Naira Exchange Rate & How To Buy Bitcoin With Naira.
Payment Service Providers.
Today, there are authorized payment service providers (like Coinbase and BitPay) that are concerned with the use of bitcoin in payments. These payment service providers serve as vital links between bitcoin customers and the merchants accepting bitcoins. The basic responsibility of a payment service provider is to receive the payments made by bitcoin customers. Meanwhile, the payment service provider does this on behalf of the bitcoin merchant and converts the bitcoin payments into specified local currency -the money which is readily accepted as a form of legal tender. Then the payment service provider is expected to transfer the converted amount to the bank account operated by the merchant. For every bitcoin conversion the payment service provider does, it charges a certain fee.
The Conception of Bitcoin as an Investment.
In specified countries, bitcoin has become the major cryptocurrency thousands of people invest in. Based on veritable reports, a significant number of Argentinians purchased bitcoins for the fear that savings accounts could be seized or to prevent their savings from the likely effects of high inflation.
In Cyprus, many people bought bitcoins in the course of the 2012-13 Cypriot financial crisis. Meanwhile, these people made this move to safeguard their financial lives in case savings accounts were taxed or seized.
The Washington Post made a declaration in 2013, implying that it had acquired 1% of the overall bitcoins available then. Also, publications have been released to favour investment in bitcoins and reports claim that Forbes has been an exponent of the idea (of bitcoin investment) since December 2015.
Investment in bitcoins has yielded benefits and drawbacks and several reliable sources have their testimonies regarding this. The duo of FINRA (Financial Industry Regulatory Authority) and European Banking Authority issued warnings in 2013 and 2014 implying that the idea of bitcoin investment involves consequential risks. However, in 2013, Forbes released a report ranking bitcoin as the best investment of the year.
In a report released by Bloomberg in 2014, the ranking organization ranked bitcoin among its "worst investments of the year'' but in the subsequent year (2015), bitcoin appeared at the top of the organization's currency tables.
In 2017, bitinfocharts.com released a report stating that bitcoin wallets are 9,272 in number with the estimated bitcoin worth exceeding $1 million. People keep bitcoin wallets nowadays and it is observable that an individual can own more than one bitcoin wallet. In consequence of this, there is no certainty about the actual number of Bitcoin millionaires.

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Bitcoin Prices.
In every bitcoin transaction, bitcoin prices are a vital factor many customers and merchants take into account. Over the years, bitcoin prices have been marked by fluctuations and a series of depreciation and appreciation. The value of a single bitcoin in 2011 was marked by a sharp increase to $32 from the initial value of $0.30 but afterward, the value went back to $2. Also, the price of bitcoin started increasing over the course of the 2012-13 Cypriot financial crisis and precisely on April 10, 2013, it was pegged at $266. But later on, it suffered an unfortunate crash causing a single bitcoin to equate $50. The value of a single bitcoin on the 10 th of November 2013 was pegged at $1,242 but by August 2014, the value had decreased by a wide margin and was pegged at $600.
Energy Consumption.
Although millions of people have appreciated the use of bitcoins, many people have spoken against the rate at which they consume electricity in the process of mining. According to The Economist, bitcoins' overall electricity consumption would be 1.46 terawatt-hours annually even if all bitcoin-mining firms decided to utilize modern facilities. During the latter part of 2017, bitcoin-mining activities across the globe were reckoned with the energy consumption of 1 to 4 gigawatts of electricity.
Today, there are bitcoin-mining firms in Iceland and other regions where geothermal energy is easy to get an Arctic air can be cooled without any restraint. In order to limit the costs of electricity, bitcoin-mining firms across Austria, Washington, Quebec, and Tibet utilize hydroelectric power. Hydro Quebec attracts many bitcoin-mining firms simply because the supplier [Hydro Quebec] has an enormous amount of energy. A study carried out by the University of Cambridge reveals that the bulk of bitcoin-mining activity is carried out in China mainly because the Chinese government offers subsidies on the consumption of electricity.
How To Buy Bitcoin With Naira Today.
Brief History of the Nigerian Naira.
Naira came into existence on January 1, 1973, as a replacement for the initial pound currency at the exchange rate of 1 pound equals #2. With the introduction of naira, Nigeria became the last nation/country to secede from the £sd currency system. In 2008, the Nigerian government announced the decision to change the currency's denomination system by making 100 old Naira equivalent to 1 new naira but later on, the decision was terminated and the proposed denomination never came into effect. Symbolically, naira is denoted with the code NGN and the sign # . In monetary conversion, one naira can be split into 100 Kobo.
Naira Denominations.
As issued by the Central Bank of Nigeria, naira comes in banknotes and coin denominations. The coin denominations include 50 kobo, 1 naira and 2 naira while the banknotes are issued in variants of #50, #5, #1000, #20, #100, #500, #200 and #10.
CBN as the Sole Issuer of Naira.
Nigeria is the only country which adopts naira as its basic monetary unit and the CBN (Central Bank of Nigeria) is the only central monetary system authorized to issue it. As a form of legal tender, naira is widely accepted as the currency of Nigeria and it serves a significant purpose in terms of exchange. To establish the stability of price and money, the CBN regulates the volume of money in economic supply. For the purpose of currency management, the CBN charges its Currency & Branch Operations Department with the duty of disintegrating, reissuing, processing, distributing and procuring coins and banknotes.
Effects of Inflation on Naira.
Inflation is one of the common economic problems in Nigeria and this clarifies that the Nigerian naira has suffered recurring series of inflation. In 2011, the CBN declared that attempts had been made to keep the yearly inflation at a rate less than 10%. In that same year, the key interest rate was increased by the CBN a number of times and this kept it at 12% as against the initial rate of 6.25%. Early 2012, the CBN had a plan to keep the key interest rate at 12%. Meanwhile, this move was aimed at reducing the inflation which had resulted from decreased fuel subsidies.
Following the exchange rate (of 197 Naira to 1 US$) which had remained effective for a number of months, naira was given the chance to float as of 20 th of June 2016. Considering trading circumstances, it was speculated then that the exchange rate between naira and the US dollar would be 280-350 naira per dollar.
Exchange Rates Between Bitcoin and the Nigerian Naira.
As discussed earlier, bitcoin is a popular cryptocurrency widely used across the globe while naira is the basic monetary unit of Nigeria. In exchange, the value of a single bitcoin far exceeds that of a naira. Currently, a single bitcoin equals #1,872,360. To find out the latest bitcoin to naira exchange rates, we have compiled some verified data and the information is updated.
NOTE: In the table below, bitcoin is denoted with BTC while the Nigerian naira is denoted with NGN .
That's all about Bitcoin To Naira Exchange Rate 2019 Today.
Tags: Bitcoin To Naira Price - Exchange Rate 2019, How To Buy Bitcoin With Naira Today April.

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Best Bitcoin Exchanges 2019.
Exchange Deposit Methods Latest Price Key Features Rating Learn More.
Welcome to BestBitcoinExchange.com.
The world of bitcoin exchanges is full of pitfalls, challenges and opportunity.
We are here to help you avoid those pitfalls. We are here to help you overcome the challenges of buying and selling bitcoin.
And of course, we are here to help you take advantage of opportunity in the booming crypto-currency market.
Times they are a changing. Blockchain technology is revolutionizing finance, industry and the internet.
If you want to make sure you don't get left behind you can find where to buy bitcoin with our best of lists , user driven reviews and "how to guides" for all things buying, selling and trading bitcoin.
Get started with your first bitcoin by choosing from one of the legit bitcoin exchanges listed and read through our growing selection of how to guides. You can learn more about us and our mission here.
What exactly is a Bitcoin Exchange?
A bitcoin exchange is a place where you buy, sell or trade bitcoin.
You can buy and sell bitcoin with normal money like $USD or Euro's.
Or you can trade it for other cryptocurrencies like Ethereum, Ripple, Dash and hundreds upon hundreds more.
You can also exchange gift cards, cash and even paypal for bitcoin. Depending on what you want to do will help determine the top rated exchange is for you.
Three Main Types of Exchanges.
There are three main types or styles of bitcoin exchanges . They are:
We review each of these three styles and help you find the best one for you.
How To Choose The Best Exchange For You?
Use our top lists, reviews and comparison charts to see how and what each exchange offers. Compare the details, fee's, requirements and products offered at the various exchanges we cover.
Type of exchange Reputation Geographic restrictions and availability Deposit and withdrawal methods How it works Trading platform/service features Speed of purchase Exchange rates and fees Security Supported cryptocurrencies Privacy Regulatory licenses and KYC compliance Red flags and warning signs.
Why are Bitcoin Prices Different?
The price of bitcoin is different at different places. There is not one set price. Depending on how you want to buy bitcoin and how much you want to buy can influence your exchange rate and how much you get for your money.
In short, it is possible to buy bitcoin cheaper at some places.
At the exchanges we list here, prices are generally within a few percentage points of one another.
However if you are using a credit card to buy bitcoin then your price will be higher than if you are transferring money from your bank account to an exchange and then trading on the marketplace.
Why is credit card more expensive? Because of ease, speed and verification levels are all different and all influence the prices that sellers will trade at.
A bit of price difference is normal.
A huge price difference should raise red flags. If you find the price of bitcoin somewhere that is way cheaper or way more expensive then proceed with extreme caution.
Crypto Currency Trading Platforms - Our Best of List.
For the best exchange rates you should buy bitcoin on an exchange. We compare the best bitcoin trading platforms as well as show the latest price of BTC from different exchanges in an easy to read chart.
These exchanges are trading platforms designed to help you buy, sell and trade bitcoin. Using these platforms ensures you get the best exchange rates, especially compared when you just buy it from a broker or third party.
You can trade into USD, EUR or many other currencies using their trading platform. These exchanges are best for people who want to buy or sell large quantities of bitcoin or who just want to trade the markets and try to make profit.
Legit Bitcoin Brokers - Where & How to Buy Bitcoin Instantly.
Buy bitcoin fast, safe and secure. There are a short but growing list of legit places to buy bitcoin instantly. Here are the best places to buy bitcoin with a credit card, cash deposit, gift cards and in some cases, paypal.
Coinbase - The largest entry point into crypto currency in the USA. Buy your first $100 worth of bitcoin or ethereum here and get $10 free bitcoin. Use a credit card or hook your bank account up. USA, Canada, Mexico and Europe. They are also one of the sister sites to our USA fiat exchanges, where you can turn bitcoin back into USD and get it in your bank account. Bitpanda - EU/UK focused place to buy bitcoin with credit cards.
Learn more about where to buy bitcoin fast with my growing guide.
P2P Marketplace - Peer-2-Peer.
What is the best bitcoin p2p exchange? The peer-2-peer or person-2-person marketplaces are best for people who want to buy bitcoin from another person privately. You can buy bitcoin for cash from someone local doing the deal however you see fit with the help of a site like Localbitcoins.com. You will pay a bit of a premium but you can quickly get bitcoin privately.
Localbitcoins.com - buy bitcoins using LocalBitcoins as escrow for the transaction. Best for someone who wants to privately buy bitcoin from someone else locally. Learn more. Bitquick - buy bitcoin with cash in three hours or less. Deposit $ into a bank account and get BTC sent to you within 3 hours max. Is bitquick legit? LocalMonero.co - this is like localbitcoin but for monero, a privacy centric crypto. Paxful - buy bitcoin with paypal or dozens of gift cards from sellers around the world. Best for people who want to buy BTC with virtually anything (Amazon cards, Starbucks and 25+ other cards) With a simple and intuitive interface.
You can learn how bitcoin p2p exchanges and marketplaces work here with my guide.
Avoid Scams.
There have been a lot of scams in the world of bitcoin. People have lost millions of dollars worth of bitcoins over the years. You can learn more about famous bitcoin scams and heists over the years in my soon to be published scam timeline and links page.
You should not make a deposit into a bitcoin exchange without doing your due diligence. Research the broker you are interested in.
Google their name with modifiers like 'scam' and 'ripoff' and 'user reviews'. Find real information and know what you are getting into.
With that in mind, help us keep track of today's best overall exchange for you by commenting and rating the exchange on our site.
Reputation - You Must Be Able To Trust Your BTC Exchange.
Bitcoin exchanges are hubs of activity and money in the bitcoin world. This fact makes them targets for thieves, scammers and fraudsters alike.
There have been hacks, scams, frauds and out right theft. I want you to avoid the scams and use the legit btc exchanges, brokers and even find the best crypto casinos and buying services.
Bitcoin trading by itself should be considered ultra-high risk investments . You have the huge volatility of the alt-coin markets in addition to having to find an exchange that works for you and will treat your fairly.
We are in the "wild west" days of the crypto exchange world.
Don't get burned. Trading with a reputable exchange is paramount.
First you should feel comfortable that when you withdraw your funds you will get paid.
Having a reputation of timely payouts, responsive customer support, and accurate dealings is vital.
Especially when we look at the historical nature of bitcoin exchanges. If you haven't heard of the Mt. Gox fiasco where millions of dollars worth of BTC were stolen. Or Cryptsy that went under and took all the coins with them. Trading crypto currencies is risky by itself. When you mix in a less than reputable exchange the risk increases exponentially.
Even if you trust your exchange it is still best practice to secure your bitcoin in your own personal wallet with private keys that you own. You can see my guide on how to safely secure your bitcoin for how to's.
Pro tip: Never keep your balance on an exchange longer than you have to. Instead withdraw it to a wallet where you control the private keys. I recommend getting a Trezor as a hardware wallet for ease of use and security.
Scams - Red Flags & Warnings Signs To Watch Out For.
Welcome to the exchange asylum, it's a jungle out there! I highly recommend you carefully watch out for that tree with your George Washington's! Avoid the exchanges that show signs of danger, have legit scam complaints or a overwhelming horrible reputation.
At the bottom of our reviews you can find a place where other real people have left comments and ratings. Read through those to help you make an informed decision. Do keep in mind that honest user reviews are overwhelmingly negative in nature . People are way more likely to leave a negative review than a positive one.
Getting Started If You Just Want to Buy Bitcoin Now.
I've written a more in-depth how to buy bitcoin for the first time guide as well as reviewed most of the buying services listed. If you want my first time bitcoin buyers guide that is written specifically for new users then I highly recommend reading this page. I cover the steps you need to do to make sure you are set up to properly buy and eventually sell bitcoin.