For traders and investors looking to invest in Bitcoin, getting access to the real-time value of Bitcoin against Dollar is of paramount importance.
Introduced as the first cryptocurrency back in 2009, Bitcoin has experienced great interest among masses and investors alike over the last few years. In 2007, the price for each Bitcoin soared to $20,000, although it subsequently fell back close to the $4,000 mark in the following few months. Its creator is still unknown and often referred to as an imaginary person called Satoshi Nakamoto. Currently, it is the single most important electronic currency, holding more than sixty percent of cryptocurrencies’ total market value.
Today, thanks to the availability of many online trading platforms and exchanges, you can own or invest in Bitcoin very easily. You can also exchange them against other cryptocurrencies such as Ethereum (ETH), Ripples (XRP), and so on. Anyways, the most common method of trading is Bitcoin paired against the dollar.
Bitcoin Dollar Quotation (BTC / USD)
When it comes to owning some Bitcoin, you can exchange them against major currencies such as dollars or euros. If you already own some other cryptocurrencies, you can also use them to exchange for Bitcoin. As most people buy Bitcoin as their first crypto assets, the most popular method of exchange is against the dollar.
That’s why, the pair BTC/ USD, which read as Bitcoin Dollar quotation, is of immense importance. It effectively shows the value of one unit of Bitcoin against the value of US Dollars. For example, if the value of BTC/ USD stands at $10,000; it means that one unit of Bitcoin equals to Ten Thousand dollars.
The Bitcoin market is highly volatile and remains open 24/7. Due to it’s potential to bring in huge profit within a short period of time, Bitcoin Dollar quotation is a very popular instrument among CFD (Contract for Difference) traders that allows them to speculate on the price movements, without needing to actually own the assets.
Real-Time Value of Bitcoin Against USD
Due to the huge interest of short term traders in the CFD marketplaces, the real-time value of BTC/ USD pair changes all the time. Unlike the CFD trading on stocks, the cryptocurrency market never closes either, enabling traders to buy or sell the pair any time of the day, every day.
If you are familiar with the CFD trading idea, you can also take advantage of this constant movement and earn some profits in the process. However, you would need a reliable platform or online broker to do so that shows the change in value in real-time. Learning about the latest news and updates, and projecting the market sentiments is also key for profitability.
en.meteofinanza.com advises us on the best platforms to trade on the BTCUSD pair which are eToro, IQ Option, and AvaTrade. eToro is particularly recommended, for its ingenious social trading features that enable traders to keep updated about price and related news in real-time.
