Most exchanges use order books, which is a collection of limit orders at which market participants are willing to buy or sell. The image below is an example of a bitcoin order book in action. Users on this exchange are willing to buy 2.006986 BTC at $5,885.80, 5.1803 at $5,887.91, while they are willing to sell 0.0002 units at $5,885.21, 0.009822 at $5,881.71, and so on. Best bitcoin buy In December, for example, Brazil enacted the so-called "Bitcoin bill" that will put into place a comprehensive regulatory framework for how Bitcoin can be used as both a means of payment and as an investment asset within the country. As more countries follow Brazil's lead, this will only make Bitcoin more valuable than it already is. It's just simple supply and demand.
Another great thing about Pionex is its incredibly low maker and taker fees. Currently, both fees come in at just 0.05%, considerably lower than many other popular crypto exchanges out there. On top of this, Pionex doesn't charge for deposits, though there is a flat fee for withdrawals which differs depending on the coin. Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. A26. If you receive cryptocurrency in a transaction facilitated by a cryptocurrency exchange, the value of the cryptocurrency is the amount that is recorded by the cryptocurrency exchange for that transaction in U.S. dollars. If the transaction is facilitated by a centralized or decentralized cryptocurrency exchange but is not recorded on a distributed ledger or is otherwise an off-chain transaction, then the fair market value is the amount the cryptocurrency was trading for on the exchange at the date and time the transaction would have been recorded on the ledger if it had been an on-chain transaction.