Do you want to track the price of Bitcoin in realtime? If you visit a site like CoinMarketCap, you’re getting a price that is updated every few minutes. The price is also determined by CoinMarketCap’s own algorithm which can be wildly different to the price on popular exchanges.
So how do you monitor the price in real time? Here are some free options:
Coinbase pro is an exchange designed for traders. Coinbase is the easiest place to buy Bitcoin online and is perfect for consumers and the average joe. For those looking to profit from trading Bitcoin, coinbase pro is the place to go.
But you don’t need to be a Pro to get access to the platform. In fact its available to anyone with a coinbase account. On Coinbase pro you can easily monitor the price of Bitcoin as well as a number of other popular coins.
Personally I’m not a huge fan of how the charts looks, but in my opinion the price on Coinbase Pro is a good indication of the average price across markets. This is because Coinbase Pro has a huge amount of volume. I like to keep Coinbase Pro open during volatile times just to see how the price moves about.
On eToro you can build a watchlist of all the assets you want to track and view them all on the one dashboard. eToro is a multi-asset trading platform with over 10 million members. As well as supporting traditional assets (like stocks, forex) they also offer cryptocurrency trading.
But you don’t need to be a trader to watch the price. You can sign up to eToro for free and they even give you $100k in virtual money to trade with. So you can make practice trades without risking any real money.
This is my dashboard. As you can see I’m tracking both cryptocurrency and traditional assets all in the one platform. eToro also has some nice charting tools. So you can view each asset in a chart. As eToro is part social network, part broker you can also make and read posts about different assets.
BitMex is a leveraged trading platform for cryptocurrency. I wouldn’t recommend trading their unless you’re an experienced trader. But you can use the platform for free to monitor the price. The interface can be a bit confusing if you’ve never used an exchange before.
TradingView is a platform where traders share their ideas with each other. It’s also a great place to view charts and monitor the price of coins. You can see the price from a number of different exchanges. You’ll also see sentiment from other traders and their ideas for making money with trades. TradingView is free to join, although you can upgrade to a pro account to unlock more features.
Why is the price different?
These three platforms are exchanges. This means that the price is determined by the market at each exchange. Overtime, as cryptomarkets grow, the exchanges will become more and more in sync. This is because traders will arbitrage trade between the exchanges. The reality is that each exchange will always have a slightly different price – this is how markets work. There is no “one bitcoin price”.