If you have ever searched for the price of Bitcoin or any other cryptocurrency - whether on a search engine such as Google or across one of the many different exchanges such as Cordial Exchange – you would notice that the price differs from platform to platform.
Why?
The reasons are simple;
1. Difference in fiat exchange rates.
When you are looking for a form of accuracy, do not do the mistake of searching for the price of Bitcoin in naira on Google. The result you are likely to get would be way less than what it actually is. The reason is the Dollar to Naira exchange rate on Google is relatively low when compared to the realities of the situation. So, while a dollar may go for N460 – 475/dollar in current realities, on Google, a dollar is currently at N381/dollar. This undoubtedly affects the rate of BTC in naira. When you do the math, the outcome is what you see on Google.
2. No standard or global Bitcoin price.
There is no standard or global price attached to Bitcoin unlike most local currencies. It is simply worth what people are willing to pay for it. This mindset leads to speculation amongst many who treat Bitcoin as an investment. It is also one of the leading reasons why Bitcoin is labelled volatile. Just like going to a supermarket over a local market to buy food items or provisions, people using different platforms are usually willing to pay different amounts.
3. Charges or rates that may apply.
Different exchanges have different rates, charges and terms and conditions which apply to the manner of their trade. Some exchanges may also apply it as a marketing strategy; pegging the price so high to woo customers, but the rates and charges applicable in transaction would reduce the client’s holdings. Some other exchanges like Cordial Exchange would charge close to nothing in fees, while giving you the most accurate price information on the market.
It is best to know about the little fundamentals that would help influence the decision you have to make when choosing an Exchange. You can start by visiting www.cordialexchange.com to start trading Bitcoin so easily at an amazing low rate, and with 99% accuracy. You can trade as low as N5,000 to begin.
PS: Cordial Exchange does not set the price of Bitcoin. We provide a platform for people to buy and sell cryptocurrencies.
If you have ever searched for the price of Bitcoin or any other cryptocurrency - whether on a search engine such as Google or across one of the many different exchanges such as Cordial Exchange – you would notice that the price differs from platform to platform.
