Bitcoin Forum

Hey guys newbie to the bitcoin world but i have always liked the idea of it.

I have been trying to buy some bitcoins as the price is low.
However !, when i go to buy some bitcoins the price people / exchanges are selling them at are not even near the current market value?

how can i buy bitcoin for what they are worth rather than adding on  5-10% ontop just to buy them?


e.g: current price is : USD-185.96 (NZD-244.98) yet when i try buy i am being changed USD-203.42 (NZD-267.98)



is there another option to buy bitcoin wheres i don't get ripped off so hard?

You can set a price to buy(usually low than the current price), then wait same one sell it to you.
Or you can buy it instantly at the current price.

Also what exchange and what country are you from, I'm willing to provide some options

Price is about $200 USD on bitfinex atm.  You could wait and your arbitrage across the exchanges will equalize the prices, or you can just buy now if you think the price will bounce up from here. 

Have you search at localbitcoin around your place live?

I don't know what exchange is that but I have seen some exchanges manipulating prices. They increase it for Buyers and lower it for Sellers.

If you are in the us try coinbase or localbitcoins.com which is your best bet.

A good tip, if you become a regular with the sellers on meeting up on localbitcoins.com you can get it for the exchange rate being a loyal buyer. Its what I did, with a fellow miner.

where do u from ?
U can sell it to your local seller/buyer. in my country there's a website who sell and buy bitcoins.
try to search n find your country website who sell/buy bitcoins. maybe u find it ;D

Hey all!

thanks for replying.

I am in New Zealand and i have used  igot  but they charge too much.. all the local sites also charge a ripp-off price

What exchange are you using?

If it is a local exchanges, chances are the prices will be different, depending of the local demand-supply ratio. In some places the difference might be big.

Most of people using Preev.com or Bitsmap rates . 10% - 15% no more (know that the price keep rising & dropping)
You can always try to check localbitcoins.com using whatever method do you like . otherwise post here on "Currency exchange" section and put what rates you are looking for and what payment method you are planning to use and just wait for people . just watch out from scams

That is the bid/offer mechanism at work. Try a larger exchange and bid/offer spread will be smaller. Personally, I wouldn't care about 5% to 10% if you are in bitcoin for the long haul. Choose a local trustworthy exchange.

You can try Cryptsy (https://www.cryptsy.com/) or Kraken (https://www.kraken.com/).
The only point is how you get your dollars there. Mostly i cost you a few days.

If you really want it just do the mark of price you want and wait the price go down.

Create a buy order most exchanges allow you to do that or you could jst try local bitcoins some people are up for lowering their asking price.

Let me be the first to answer your question.

TL;DR: Exchanges and prices are a lot more complicated than you think.

There is no "current price". The prices on each exchange are different from those on every other exchange. What you are referring to as the "current price" is either:

• the price of the last trade on a particular exchange, or
• an average of prices of trades on several exchanges.

So, it is not at all unusual that the price on your exchange is different than your "current price".

Furthermore, there is actually no "current price" on an exchange. There are two prices:

• the "bid" price, which is the highest price that buyers have advertised, and
• the "ask" price, which is the lowest price that sellers have advertised.

If you want to buy immediately, you can buy at the ask price. If you want to buy at a particular price your price gets added to the list of bids, and someone will sell to you at your price when it becomes the highest of all the bids.

I never purchased btc for traditional money but what does this tell you if true ( and i believe him)