1 Bitcoin = 18105 USD

The current Bitcoin (BTC) price in USD, today at Nov 29, 2020 11:00 AM on Kraken

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How to understand prices?

As you see the current bitcoin price depends on 3 different things: Your currency, the time and the exchange. Don't forget that not every exchange offers you the possibility to buy bitcoin with your (real world) money. From the 10 exchanges we support you can buy bitcoin on Kraken, Bitfinex, Bitstamp, Coinbase Pro and Gemini.

Why are there so many different bitcoin prices?

If you research the current bitcoin rate you most likely find multiple prices, all slightly different from each other. For someone not familiar with markets, this can be off-putting and discouraging. Undestandably so. Most beginners are very skeptical when it comes to the first step into the crypto market and nobody wants to pay more than necessary.

So, the first thing you will notice is that you can buy bitcoin with your money (we call it "fiat") on multiple exchanges. Every exchange has it's own rates and this is not a scam, it's just how markets work. At this point you already guessed it. The bitcoin price underlies the same laws as any other market. There are no special rules in this otherwise so special market. Besides the different rates on different exchanges there also is kind of an global bitcoin price. You get this average price from platforms like coinmarketcap. These prices are averages of multiple exchanges. If you just wanna check the current state of the market, these global prices are fine. For profit/loss calculations was we do them here on cointrackr.io those average prices are useless.

So what determines the current bitcoin price?

Imagine a market place where there are buyers and sellers (supply and demand). The sell usually has his idea of how much he wanna sell his goods for. The buyer on the other hand has her own price in mind, for how much she wanna buy something. If a bid from a buyer matches the price from a seller, a transaction takes places. The buyer has bought from the seller. The last transaction happend on an exchange determines the current bitcoin price on that exchange.

But here it comes: that doesn't mean that this necessarily has to be the price you will be charged for. The current price just tells you the amount of money the last bitcoin was sold for. If you wanna buy, you have to bid and your bid has to match the price of a seller. This can be more or less as the current price. One can say the current price generally differs from the "next price".

If you plan to invest or if you are already invested, our service makes you a better investor. We offer profit/loss calculations, tell you when to re-enter a position, give you smart trading recommendations and encrypt everything you import. We also handle your taxes. We are happy to have you on board!