Bitcoin Forum

Hi

I’m new to bitcoin world. I have a question regarding who decides exchange rate between bitcoin and physical currency like USD.

Can we transfer bitcoin money to physical money?

Thanks

The market participants decide what the going rate will be for bitcoin. Although it intially is a price point set by the miners as the miners mine the bitcoin and sell it on the open market. It cost then X dollars then they sell

for Y dollars. You can transfer bitcoin to fiat money and that can be done through a number of exchanges. A few big exchanges that do this are Kraken, and Bitstamp.

Simple Demand and Supply law that make control and give bitcoin it price to USD

Directly there are a few debit cards were you can upload your bitcoins directly without any kind of third party.
Neteller  is one, also you have Bitpay card and Xapo wich are the ones that I know and use myself.

You do.

They are your bitcoins, or your USD.

You get to decide what you do with them.

For example, I refuse to exchange my bitcoins for less than $100,000 each right now.  Therefore, MY BITCOINS are each currently worth $100,000.  Tomorrow, I might need some USD, and I might not have enough of them.  In that case, I might decide that I'm willing to exchange SOME of my bitcoins for $4200.  If I do that, then THOSE bitcoins become worth $4200.

The exchange rate is just the rate that two people agree on.  Most online exchanges (such as GDAX and BitStamp) will publish the last price that two of their users agreed on, so that the rest of the world knows that there are currently people that are willing to exchange at that rate (or close to that rate).  But as soon as people change their mind about the rates they are willing to accept, an exchange happens at a new price and the exchange business publishes that new price.


You can exchange Bitcoins with someone that has physical money and who wants Bitcoins.

The price of Bitcoin is determined by supply and demand in the same way that stocks in the stock market are determined. It's a free market system. There may be slight variation from one exchange to another just because of the users of that exchange and the orders they put in.

And youscyou can exchange fiat currencies for Bitcoins and vise versa. You just have to find the right place to get started like localbitcoins or Coinbase to buy the coins. Or if you are lucky enough to live near a Bitcoin ATM, it's even easier.

it depend on the market price now 1 BTC = $ 4424.78

then if you have 1 btc you can get $ 4424.78 in USD fiat money

you can sell your BTC from any selling site

user rank ones scam sites everywhere

I am using cryptopay for change bitcoin for real money. Very good option which working in many country. I recommend

Yes, you can, there are many ways and means to change it, but the most important thing is the moment and the way you do it to get as much out of it as possible.

Thank you everyone for your valuable response and comments.