Bitcoin Forum

Hello Guys, I just found some interesting site to know the price of BTC on each country in the world at least most of them. The only thing I can't tell is if they are accurate and if its really giving us a real-time result of the price in each country. I guess the only one who can tell this to us is the person who lives there. If your country is listed on the map, would you please tell us the price on your local exchanges if it matches the price we see on the Bitcoin Price Map. I can't tell if its really working cause our country is not listed there. as you can see, there are also some options to rank the country base on who got the higher price of all just head up straight to the site for more info. All credits go to the owner of this wonderful site.

https://i.ibb.co/1RdTGGS/Screenshot-2.jpg (https://www.bitcoinpricemap.com/)


Source:

https://www.bitcoinpricemap.com/

I like the idea of this and I am always wondering what the “official” BTC price is ? Unfortunately there can’t really be an across the board or even cross border “official “ price. This map uses 48 countries and 100 exchanges so not a bad sample .BUT - These figures come from exchanges and each exchange rate will be slightly different depending on -
Trade volume - larger volume , cheaper rate for example
Exchange fees - cheaper exchange rate , higher fees for example
And several other factors ?
As I say , love the idea but sadly accuracy may be rather poor .

I don't know how they calculate it with USD from local country. It should calculate with native currency for each country. Anyway you are able to find native currency price for bitcoin. Just search on Google like we search BTC-USD price. Just replace your currency. For example you are from India and you want to check local price of bitcoin then you have to search BTC-INR, so you will find the live rate. Google provide this rate from coinbase exchange. So you can say its official price as well. This way you will able to find btc price for any country then you may convert it in USD.

I always use google as a quick search , but why would google use Coinbase? Why not Binance, Huobi etc. I think it would be very depressing if Coinbase or any other huge exchange becomes an official price- as it promotes less decentralisation. But I doubt there is any other method. I don’t know if it’s possible to put an exchange rate on bitcoin.org - but again which one would they use  :)

Considering that the map is connected to a variety of exchanges over the world to determine the price for each country, then I assume that your country has no localized exchange for crypto? That, or the site owner hasn't been working on connecting the said exchange to the map itself. Still, I suppose it also randomly sums up the prices exchange depending on the country of each registered account or something? Dunno how it really works tbh but a prerequisite of a localized exchange seems to be one.

the problem i see is that price is only accurate if there is an actual market with a minimum volume size that could be considered "big enough" such as the bitcoin exchanges we have including Coinbase, Gemeni, Bitstamp,... and the price is fetched from there.
usually when we see price reported in different countries, the price is from P2P markets including localbitcoins. those prices usually have a bigger overhead since people charge more due to less supply and more demand. and sometimes the values are very inaccurate due to the volume being very small. like a handful of sellers on localbitcoin from a certain country who can put any price they want!

I don't know that the default table is built up by how many indicators. From the default table, I see some top nations:
Nigeria, Uganda, South Africa, Zambia, Peru. The full table is at https://www.bitcoinpricemap.com/ranking

The global price is $9489, and global volume is 598512 BTC. I don't mention about price but for the global volume it is different and less than the figure that I takes from https://coinmarketcap.com/currencies/bitcoin/. According to coinmarketcap.com, there are 2,049,448 BTC globally. I think above comments are right, the site gives figures for P2P market only.

The site's exchange rank page lists many exchanges that I don't know about: https://www.bitcoinpricemap.com/exchanges

That's good piece of map!! Brilliant way to list out what's trading where.

However does anyone notice few of the countries and continent are missing out here? I am amazed to see no data from their sites. I mean what's wrong with these . . .
1) Russia
2) Norway
3) Sweden
4) Finland

I think they were unable to get the data for them. Russia being whole continent have no reports. Lolz. Why so?

The lazy way, how else.
He took the location where exchanges are registered and arrived at the conclusion that's the price in that country.
That's why we have a price for the Isle of Man determined by the fact that CoinCorner is registered there.

Bottom line, very misleading data.
The price in Seychelles is also determined by Kucoin and Bitmex, but that price on those exchanges is determined by people who have never set foot there.

I think its much easier to use Google search engine to know the price of bitcoin on countries we wamted to know. Its much more easier cause Google probably using a basis on top exchange or the average price of bitcoin on that certain countries where the trades are coming from. But this is a good share cause we have the comparison which one increase or decrease based on countries trading activity.

Even on my country the rate has differ on each platform we used probably it will depends on the spread of their system using.

But where does it pulls its data from? Localbitcoins?

I tried opening it and, but it doesn't work. Maybe my country is blocked, quite the irony.

There is also the fiat exchange. This might seem easy for most of you, but a few countries out there the reality sucks. There is an official (garbage) rate, and an unofficial (closer but still garbage) rate. Most of the world has gotten rid and don't even know the idea of a government pegging its fiat by decree, but some of those exist. Argentina being a current example. (As long as politicians have the power to do so, they will).

And in those places this site doesn't pull data from, is where the biggest discrepancies in bitcoin price occurs. Most of them by exploiting a system's flaw in that countries misled economies; which can make the occasional well connected foreigner earn a ton of money; often being so whaleish they skew the adoption perception of some.

This is a brilliant idea, but what's bothering me is the exchanges that is based on the same country on which bitcoin's price is different. For me it is better to track the price of bitcoin in exchanges like the coinmarketcap, I think it is better that way to track of the prices in exchanges coz I don't really think people would look after the country if they need to see the price of bitcoin.

It is inaccurate in simple words, not reliable for data sourcing regarding the price of bitcoin.

When I click a certain place, it says [Advertising]

It may be a way to advertise different exchanges in a specific country. I'm not sure. Maybe they can put P2P exchanges, LocalBitcoins, or something related to that. It's a great way to visualize how many people in the world is trading Bitcoin. Not bad. Thanks for sharing OP.

I hope everything follows with the exchange rate in Nigeria with $10628 right now, lol.

My country is not on the list, even though people here know about cryptos and use cryptos... Most 'local' exchanges are actually based in a neighboring country which is on the list, so maybe that's the reason. I like maps, and mapping the prices sounds interesting, but accuracy means a lot, and I don't know how accurate these prices are. Moreover, the price should and does remain roughly the same accross continents only with some exceptions. And when I see them, I am not sure if the price is calculated accurately and everything is taken into account... $11.5k in Zambia sound too good to be true. There must be some crazy fees, scam or user restrictions involved.

Nice website yet as what had been mentioned price is either misleading or inaccurate. You can see it by googling some local currency to btc and compare it to the site.

It would be much better if the developer uses an API from a legit source or something that most people use as a reference, such cmc, bitcoinaverage, or getting the average price from huge volume exchanges.