Common Questions about Bitcoin Price Equation

Modified on Thu, 20 Jul 2023 at 05:47 PM

Bitcoin prices vary on every cryptocurrency exchange. The Bitcoin price equation on Paxful lets you update the price in your offer.

What is the Bitcoin price equation?

The Bitcoin price equation allows you to update your Paxful offer with Bitcoin's price fluctuations on a specific exchange platform. This is an option to choose a rate from any other Bitcoin platform and use it for your sell or buy offer. To use the price equation, see our guide.

How is the regular (simple mode) Bitcoin rate calculated on Paxful?

Paxful offers a bitcoin rate, which is the average ask price between the following sources:

  • Coinbase
  • Bitstamp
  • Bitfinex

What are the available rate sources in advanced mode?

In advanced mode, Paxful offers you a list of these exchange platforms:

  • Binance
  • Bitfinex
  • Bitstamp
  • Coinbase Pro
  • Gemini
  • Kraken
How often do rate updates happen?
Paxful updates rates from the exchange source every minute.

Which price points are available?

Here is the selection of price points:

  • Ask— The asking price is the lowest price a Bitcoin seller will accept from a buyer. 
  • Bid  The bid price is the highest price a Bitcoin buyer is willing to pay a seller.
  • 24 high— The highest bitcoin price of all completed trades on the exchange platform during the last 24 hours.
  • 24 low— The lowest bitcoin price of all completed trades during the last 24 hours.
  • Average— The average bitcoin price of all completed trades for the last 24 hours. 
  • Last  The latest completed trade price according to the selected exchange platform.

Note: The available price points may vary depending on your chosen rate source.

How my potential trade partners will see my custom Bitcoin rate?

For your trade partners, there is no special sign letting them know you are using a custom Bitcoin price. However, your custom Bitcoin rate will directly affect the percentage above or below market price and how much traders will get on the dollar.

If you need any assistance from our Support team, do not hesitate to contact us. Check out this article on How to Contact Support.