Mt. Gox will take orders from once currency, calculate how much that would be in another currency at the current rate (and after adding the exchange fee) and then add it to the orders list in that currency.
So, for example, in Japanese yen there is a large gap between the top buy and sell orders. That's because there are very few orders actually in JPY, and all the orders you are seeing are converted from USD with a small % fee taken out (so buying costs a bit more, and selling will get you a little less). Therefore, I think the answer would be "whichever currency your buyer/seller is using!" (which on Mt. Gox is usually USD)
I think BTC-E splits up orders (so the Euro market only shows orders that are actually for Euros and is much more lively than the USD market), but I'm not sure about the others.
Topic: Which Currency is best to trade BTC (Read 559 times)
BTW Mt. Gox will be getting LTC support in the next week
Vircurex.com would be the other one. MtGox has announced that they will support Litecoin in the next week or two (via their FB and Twitter).
Thanks Weex!
xrp...
either euros or usd.
Take a look at trading BTC with Litecoin (LTC). The benefits are that it sometimes may hold steady or go the opposite way as BTC/USD and it's quite easy to move funds from either side of the pair into and out of an exchange....this means less exposure to an exchange getting hacked.
Apart from BTC-E.com what other exchanges are trading Litecoins?
Thanks for all the answers. I live in the UK but I can't buy Bitcoin in GBP so doesn't make much sense to trade in BTC/GBP.
Think I will look at USD and see how it goes. Do you spread your trades across the different platforms?
Many thanks
CA
Think I will look at USD and see how it goes. Do you spread your trades across the different platforms?
Many thanks
CA
its kinda crap rate when its in pounds ive noticed over the past few weeks u get more for ur dolla 
For trading: USD (liquidity)
If you're just buying bitcoins as a one time thing it doesn't matter much.
If you're just buying bitcoins as a one time thing it doesn't matter much.
USD currently has the greatest amount of liquidity.
Other currencies adjust to BTC/USD price. So it's not a matter of currency. Try arbitrage between different exchanges for profit.
Take a look at trading BTC with Litecoin (LTC). The benefits are that it sometimes may hold steady or go the opposite way as BTC/USD and it's quite easy to move funds from either side of the pair into and out of an exchange....this means less exposure to an exchange getting hacked.
Apart from BTC-E.com what other exchanges are trading Litecoins?
Take a look at trading BTC with Litecoin (LTC). The benefits are that it sometimes may hold steady or go the opposite way as BTC/USD and it's quite easy to move funds from either side of the pair into and out of an exchange....this means less exposure to an exchange getting hacked.
If you're talking about buying, then it's whatever currency you currently have. If you have multiple, then buy with whatever you think is going to inflate the most in the future.
If you're wanting to sell to buy stuff now, then sell for whatever currency you can use locally.
If you're wanting to seell because you think BTC is about to inflate, then sell to whatever currency you think is most inflation-resistant.
Basically, all FOREX trading (including BTC) boils down to taking your money and leaving it sit in the currency that is deflating the most or inflating the least. Change as necessary whenever you expect the currency you're holding to inflate faster than another currency.
If you're wanting to sell to buy stuff now, then sell for whatever currency you can use locally.
If you're wanting to seell because you think BTC is about to inflate, then sell to whatever currency you think is most inflation-resistant.
Basically, all FOREX trading (including BTC) boils down to taking your money and leaving it sit in the currency that is deflating the most or inflating the least. Change as necessary whenever you expect the currency you're holding to inflate faster than another currency.
I think USD is the best, there are a lot of transaction and the price change of the 10% in a daily basis (then it returns to a stable price).
I am wondering if anyone studied the returns on Bitcoin between USD, EUR and GBP?
Are there reasons or benefits to trade in a particular currency or it doesn't matter?
Many thanks
CA
Are there reasons or benefits to trade in a particular currency or it doesn't matter?
Many thanks
CA
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