Bitcoin is now a currency in its own right like the euro and the dollar. It is possible to exchange this cryptocurrency for financial products like the other two coins mentioned. To know when to invest your euros in Bitcoins (BTC), it is necessary to follow its course and its rate.
Do you want to learn more about the bitcoin price in euros, as well as the exchange transactions of the two currencies? This article is made for you.
Summary
What is the value of Bitcoin in euros?
If Bitcoin (as well as all other cryptocurrencies) has a remarkable feature, it is its volatility and the variation in its price.
This means that the price of Bitcoin, and therefore its value, is so unstable that it is impossible to precisely define the price of the cryptocurrency in euros (EUR) at a fixed moment.
Since its creation in 2009, the value of bitcoin (BTC) it has continued to fluctuate without ever really stabilizing. The more important its value becomes, the more considerable its fluctuations become compared to other currencies such as the euro or the dollar.
Already in 2017, the cryptocurrency had gone from a few hundred euros to almost 19,000 euros (EUR).
In 2020 this record was far exceeded as after falling to a low of 3,000 euros at the beginning of the year, Bitcoin (BTC) exploded on the stock market and made a spectacular rise to close to 42,000 euros (EUR).
Finally, it is in November 2021 that we have recorded the highest price in Bitcoin (BTC) so far because that month, 1 Bitcoin BTC had reached a high of 68,000 euros (EUR).
Therefore, we understand that the instability of the price of Bitcoin (BTC) makes it a very risky investment ground.
This is particularly the case for an average web user without any knowledge of the blockchain concept, the importance of cryptocurrency or the concept of an electronic wallet, or even the price of a coin.
That is why it is recommended to trust a CFD with the ability to manage cryptocurrencies using an online electronic wallet.
If you want to buy or sell Bitcoins, keep in mind that there are a multitude of sites on the web that allow you to transact using cryptocurrencies online.
These sites play the role of a broker and help hobby traders to create their own electronic wallet, it is called des CFD (contract for difference).
In reality, you are not buying real Bitcoins (BTC), you are buying financial products whose value at the time of the transaction in euros is the same as that of Bitcoin.
It is important to understand this principle, because in this way you will be able to understand why the access key to your electronic wallet does not belong to you. However, it is a great way to grow your money.
If you invest 200 euros at a time when Bitcoin (BTC) is 3,000 euros (EUR)you will earn almost 5,000 EUR if you sell your Bitcoin holding when you have reached 70,000 EUR.
However, the problem is knowing when to make withdrawals and when to deposit money in euros to buy Bitcoin (BTC). Here again, CFDs have it all planned out as they offer full tracking to their users who want to maximize their profits from cryptocurrencies.
Today there are neobanks, innovative structures that allow you to manipulate your Bitcoins (BTC) as you could store and use any other currency such as the euro or the dollar.
If a new bank takes away the interest of owning an electronic wallet, it is simply because it is itself the one that has a network directly linked to the global block chain. In other words, you don’t even need sell your Bitcoins or euros (EUR) to have the other currency, you can convert them directly instantly.
Finally, there are so-called Bitcoin (BTC) ATM dispensers, these can be used with an appropriate bank card or your e-wallet address.
As we have said before, all the existing Bitcoin capital is in a network created at the same time as the cryptocurrency in question in 2009, the block chain. It is a web support, online, which is used to host this capital.
The blockchain is a very high-security means of storing and exchanging cryptocurrencies, primarily Bitcoin (BTC). It allows to decentralize each transaction and thus make all existing transactions transparent and visible to everyone.
Today, the blockchain system is used in almost all online exchange networks.
Cold wallets or wallets are generally used offline to store Bitcoins (BTC)because this type of wallet allows you to save your transactions even in offline mode and thus optimize the security of earnings.
There are also online wallets, and these are the CFDs that we have already mentioned above, however, as said above, an online wallet does not officially belong to you.
What are the factors that influence the price of Bitcoin in euros?
There are five main reasons behind the volatility of Bitcoin (BTC). They can also be applied to all other currencies that belong to the crypto market because any virtual currency obeys the same laws as Bitcoin (BTC). These factors are:
- His notoriety;
- Cut him in half;
- supply and demand;
- Political changes;
- The regulation.
One of the most influential factors for Bitcoin is its reputation in the media. In fact, the more the media talks about cryptocurrency, cryptocurrency and Bitcoin, the more its value increases. On the contrary, the less trending Bitcoin (BTC) is on the web, the less its price increases in euros and dollars.
There is a total of 21 million Bitcoins (BTC) to unlock through mining. If today we have released more than 18 million Bitcoins (BTC), the halving makes block mining more and more complicated, but also less and less profitable.
A block was worth 50 Bitcoins (BTC) in 2009, now it is only worth 6 due to the halving set by the Bitcoin (BTC) blockchain programmer.
The crypto market is still quite difficult for governments to pin down. Firstly, this currency is not owned by any legal or physical entity, and secondly, the crypto monopoly is completely decentralized. This is also the reason why banks are much more concerned about the implementation of bitcoin (BTC) regulations than governments.
Now you know much more about the price of Bitcoin (BTC) in euros, the cryptocurrency, the principle of the blockchain, as well as the electronic storage wallet.
Looking for a site to sell bitcoin? You can choose from many platforms, so you have to consider some criteria to choose well. It should be noted that the operation of this type of site is similar to that of an online broker where you can buy shares on the stock exchange.
To begin with, it is important to consider the security and reliability of the platform. The latter should inspire you total confidence so that your cryptocurrencies they are well insured. Of course, all the sites that offer their service claim to offer optimal security, so it’s up to you to find out the truth.
To do this, make sure the platform is well regulated in Europe. In fact, it allows you to enjoy excellent legal protection. You have to keep in mind that on the web it is very easy to fall into the network of scammers of all kinds. And if the site allows the storage of cryptocurrencies, remember to check the implementation of the set. For example, who owns the private keys of the digital currencies, you or the site? Of course, it has to be you.
Next, you need to check the variety of cryptocurrencies that the platform offers. In fact, it is always more interesting to be able choose between different digital assets. Certainly, bitcoin is still on the list, but you should also know that there are other cryptocurrencies that may be of interest to you.
Do not forget to consider the quality of the application, the website and its features. In fact, it is better to bet on a platform that is easy to use. Finally, a not insignificant point, business costs are important criteria for choosing a site to sell or buy bitcoin. To find the best platform, feel free to rely on comparisons.