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247exchange 2.0 with many hot features will be released coming months!Complete the short survey telling us what services and features you need most and helping us to create the exchange of your dream!Testimonials Oladipo 28.09, 2016 Prompt and honest services, best Exchange i have dealt with in recent time, keep up the good work.bitcoin plugin onlineshopPress about us 01.08.16 247exchange adds 6 more currencies for buying coins with credit/debit cards 21.05.16 Enables Bitcoin Purchases Via Cards In 5 Currencies 09.03.16 Expands Its Bitcoin Exchange Services To Canada 04.02.16 InterMoney Exchange founder interview to BTCManagerbitcoin fx arbitrage_ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote 7 down vote favorite 3 If Bitcoin trading never stops then what does it mean when news sites and others talk about bitcoin opening or closing at a certain price, and why is this terminology used?bitcoin joe lewis

Could two people mean different things when they talk about the closing price at the same date?(apart from price differences between exchanges) exchanges trading market up vote 4 down vote In 24 hour markets High and Low usually mean "highest/lowest price in last 24 hours".bitcoin kaufen und bezahlenOpen and Close indeed don't make sense.uva bitcoinProbably the time the journalist/writer woke up or went to bed adjusted by an arbitrary amount of time to fit the story.dogecoin developmentup vote 2 down vote Traditional markets are not open for trade all day, so the opening and closing price refer to the first and last price of the day.They are used as measurements for the trading activity of a day.Since Bitcoin exchanges are open 24/7, I would expect the opening price to refer to the price at midnight and the closing to refer to the priceat 23:59:59 in the exchange's respective timezone.

Since closing of the previous day is essentially the same as opening of this day, some pages such as e.g.CoinDesk only show the closing values for the historical data.Closing price should always be the last price of the day, so it should be unambiguous.up vote 1 down vote For the Gemini exchange the closing price is at the time of their daily auction at 4pm ET.You can read more about the auction here: /marketplace/ And why it is considered their "end of day" price here: /winklevoss-exchange-gemini-bitcoin-auctions/ with a quote from one of their founders.up vote 0 down vote I only know about one exchange for sure but I'm pretty confident this is a widespread concept and applies to many other exchanges, too.https://www.bitcoin.de uses candlestick charts.These charts exist in traditional markets, too.There, a candle stick typically represents 1 day.That day has among others an opening and a closing price.Note that the closing price December 29th doesn't have to be the opening price of December 30th and the opening price of December 29th wasn't necessarily the closing price of December 28th, in such markets.

In fact, it's fairly unlikely that these prices are the same.Its candlesticks are different.First of all, they have different sizes depending on the length of the period of time the diagram shows.In the 48 h chart, they only are 15 minutes wide.In the 1 Y chart, they are as wide as in old markets: 1 day.In the 5 Y chart, they are a week wide.Furthermore, the closing price of one candlestick is always the same as the opening price of the next one.This is because they simply slice time up on the clock (00:00, 00:15, 00:30, etc.)or calendar (December 29, December 30, December 31th, etc.).Every time slice's opening price is the price when that time slice started and its closing price is the price when it ended.Because the one time slice begins right when the one before it ends and price is is simplified to a function of time, the opening price of a slice must always be the same as the closing price of the previous one.Browse other questions tagged exchanges trading market or ask your own question.

Bitcoin trading can be extremely profitable for professionals or beginners.The market is new, highly fragmented with huge spreads.Arbitrage and margin trading are widely available.Therefore, many people can make money trading bitcoins.Bitcoin’s history of bubbles and volatility has perhaps done more to bring in new users and investors than any other aspect of the crpytocurrency.Each bitcoin bubble creates hype that puts Bitcoin’s name in the news.The media attention causes more to become interested, and the price rises until the hype fades.Each time Bitcoin’s price rises, new investors and speculators want their share of profits.Because Bitcoin is global and easy to send anywhere, trading bitcoin is simple.Compared to other financial instruments, Bitcoin trading has very little barrier to entry.If you already own bitcoins, you can start trading almost instantly.In many cases, verification isn’t even required in order to trade.If you are interested in trading Bitcoin then there are many online trading companies offering this product usually as a contract for difference or CFD.

Avatrade offers 20 to 1 leverage and good trading conditions on its Bitcoin CFD trading program.Before we show you how to trade Bitcoin, it’s important to understand why Bitcoin trading is both exciting and unique.Bitcoin isn’t fiat currency, meaning its price isn’t directly related to the economy or policies of any single country.Throughout its history, Bitcoin’s price has reacted to a wide range of events, from China’s devaluation of the Yuan to Greek capital controls.General economic uncertainty and panic has driven some of Bitcoin’s past price increases.Some claim, for example, that Cyprus’s capital controls brought attention to Bitcoin and caused the price to rise during the 2013 bubble.Unlike stock markets, there are no official Bitcoin exchanges.Instead, there are hundreds of exchanges around the world that operate 24/7.Because there is no official Bitcoin exchange, there is also no official Bitcoin price.This can create arbitrage opportunities, but most of the time exchanges stay within the same general price range.

Bitcoin is known for its rapid and frequent price movements.Looking at this daily chart from the CoinDesk BPI, it’s easy to spot multiple days with swings of 5% or more: Bitcoin’s volatility creates exciting opportunities for traders who can reap quick benefits at anytime.As mentioned earlier, there is no official Bitcoin exchange.Users have many choices and should consider the following factors when deciding on an exchange: Regulation & Trust – Is the exchange trustworthy?Could the exchange run away with customer funds?Location – If you must deposit fiat currency, and exchange that accepts payments from your country is required.Fees - What percent of each trade is charged?Liquidity – Large traders will need a Bitcoin exchange with high liquidity and good market depth.Based on the factors above, the following exchanges dominate the Bitcoin exchange market: Bitfinex - Bitfinex is the world’s #1 Bitcoin exchange in terms of USD trading volume, with about 25,000 BTC traded per day.

Customers can trade with no verification if cryptocurrency is used as the deposit method.Bitstamp - Bitstamp was founded in 2011 making it one of Bitcoin’s oldest exchanges.It’s currently the world’s second largest exchange based on USD volume, with a little under 10,000 BTC traded per day.OKCoin - Bitcoin exchange based in China but trades in USD.Coinbase - Coinbase Exchange was the first regulated Bitcoin exchange in the United States.With about 8,000 BTC traded daily, it’s the world’s 4th largest exchange based on USD volume.Kraken - Kraken is the #1 exchange in terms of EUR trading volume at ~6,000 BTC per day.It’s currently a top-15 exchange in terms of USD volume.Global Bitcoin trading data shows that a very large percent of the global price trading volume comes from China.It’s important to understand that the Chinese exchanges lead the market, while the exchanges above simply follow China’s lead.The main reason China dominates Bitcoin trading is because financial regulations in China are less strict than in other countries.

Therefor, Chinese exchanges can offer leverage, lending, and futures options that exchanges in other countries can’t.Additionally, Chinese exchanges charge no fees so bots are free to trade back and forth to create volume.If you’d like to learn more about Bitcoin trading in China, this video from Bitmain’s Jihan Wu provides additional insight.Kraken will be used as an example for this guide.The process and basic principles remain the same across all exchanges.First, create an account on Kraken by clicking the black sign up box in the right corner: You’ll have to confirm your account via email.Once your account is confirmed and you’ve logged in, you must verify your personal information.All Bitcoin exchanges require varying levels of verification as required by AML and KYC laws.Below you can find the first three verification levels: Once your account is verified, head over to the “funding” tab.You should see something similar to the screenshot below.Select your funding method from the left side: Kraken offers many deposit methods, which are listed here: EUR SEPA Deposit (Free) - EEA countries only EUR Bank Wire Deposit (€5) - EEA countries only USD Bank Wire Deposit (Free until 3/1/2016, then $5 USD) - US only USD SEPA and SWIFT Deposit (0.19%, $20 minimum) GBP SEPA and SWIFT Deposit (0.19%, £10 minimum) JPY Bank deposit (Free, ¥5,000 deposit minimum) - Japan only CAD Interac Deposit (Free until 3/1/2016, then 1%, $10 CAD fee minimum, $5,000 CAD deposit maximum) CAD EFT Deposit (Free until 3/1/2016, then 1%, $10 CAD fee minimum, $50 CAD fee maximum, $10,000 CAD deposit maximum) Deposits made using the traditional banking system will take anywhere from one to three days.

Bitcoin deposits require six confirmations, which is about one hour.Now, navigate to the “Trade” tab.Using the black bar at the top of the page, you can switch trading pairs.In this example we’ll use XBT/USD.We want to buy bitcoins, so let’s put in an order.Navigate to the “New Order” tab.Let’s say I’ve deposited $300 into my account with a USD bank wire.In the example below, I’ve submitted an order to buy 0.5 bitcoins (XBT) at a price of $370 per bitcoin.Check the black bar at the top, and you’ll notice that the last trade price was $383.17.Why submit an order to buy at $370 per bitcoin (XBT) and not $383.17?One may submit an order lower than the current price if one expects the price of Bitcoin to fall.In this case, since my order is lower than other offers in the orderbook, I won’t receive my order for 0.5 bitcoin immediately.Placing an order at a specified price is called a _limit order._ Before placing an order, be sure to check the orderbook for your trading pair.

In the example orderbook below, you can see that the highest buy offer is for $382.5 per bitcoin, while the lowest sell order is at $384.07 per bitcoin.Using the order form there’s also an option for “Market”.A market order in this case would submit a buy order for XBT at the price of the lowest available sell order.Using the orderbook above, a market order for 0.5 XBT would purchase 0.5 XBT at $384.07 per XBT.If selling bitcoins, a market order would sell bitcoins for the highest available price based on the current buy orderbook—in this case $382.5.Bitcoin trading is exciting because of Bitcoin’s price movements, global nature, and 24/7 trading.It’s important, however, to understand the many risks that come with trading Bitcoin.Leaving Money on an Exchange Perhaps one of the most famous events in Bitcoin’s history is the collapse of Mt.In Bitcoin’s early days, Gox was the largest Bitcoin exchange and the easiest way to buy bitcoins.Customers from all over the world were happy to wire money to Mt.

Gox’s Japanese bank account just to get their hands on some bitcoins.Many users forgot one of the most important features of Bitcoin—controlling your own money—and left more than 800,000 bitcoins in Gox accounts.In February 2014, Gox halted withdrawals and customers were unable to withdrawal their funds.The company’s CEO claimed that the majority of bitcoins were lost due to a bug in the Bitcoin software.Customers still have not received any of their funds from Gox accounts.Gox’s catastrophic collapse highlights the risk that any trader takes by leaving money on an exchange.Using a regulated Bitcoin exchange like Kraken can decrease your risk.Your Capital is at Risk Remember that as with any type of trading, your capital is at risk.New traders should start trading with small amounts or trade on paper to practice.Beginners should also learn Bitcoin trading strategies and understand market signals.Cryptowatch & Bitcoin Wisdom – Live price charts of all major Bitcoin exchanges.