Known for its volatility, bitcoin like other cryptocurrencies is an interesting investment to diversify its investment portfolio or take its first steps in trading. But how to avoid beginner mistakes?
Despite some hollow periods when bitcoin prices may fall into the abyss, investing in these assets has proven to be a long-term bargain. In the last three years alone, bitcoin has grown from 400 euros to more than 7,000 euros. It also experienced a big bubble that broke out in December 2017 when it reached more than 16,000 euros. Investment in bitcoin is not without risk, but it is clear that profits have often returned to those who did not resell in times of depression.
But be careful: investing in cryptocurrencies is not without risk. First important info if you start in this universe: bitcoin has no official tariff. This is due to the fact that each exchange platform offers its own, depending on the supply and demand it observes between its users. There are significant differences between platforms, sometimes several thousand dollars. So be careful before buying.
There are two main reasons for price differences. Firstly, liquidity: some platforms do not have the same stock market volume. This can affect the price, as it is calculated on an average of transactions made internally. Secondly, there are no institutions in this sector yet. There is no Nasdaq to act as an arbitrator, as is the case in the technological securities market. In addition, a study by the management company Bitwise Asset Management, published at the end of March 2019, indicates that 95% of cryptocurrency volumes would be false. This indicates that courses can also be truncated on certain platforms. Be careful.
Investors should also consider that the price displayed by the platforms in dollars or euros is likely to be higher than the actual price. In fact, the price includes commissions for each transaction, so that the most greedy have a high price.
Easily know the price of bitcoin in euro
To easily find the price of bitcoin in euros, we recommend visiting the site of Chicago Mercantile Exchange (CME), one of the largest US stock exchanges. It provides an average price, calculated in real time on the main stock exchanges. You then need to convert it to euros via a specialized site like XE. You can also visit OnChainFX, a reference website that gathers data from most global platforms.
There is an abundance of platforms that offer the purchase of bitcoins. We recommend the site Bitpanda France, known and recognized for its reliability and seriousness.
Bitpanda is one of the few platforms that offer exchanges in euros. This added value makes Bitpanda an interesting option for European users. In addition, the interface is easy to use and very intuitive. That is why we mainly recommend this player in the market of buying debitcoins.