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bitcoin exchange

BTC-e is one of the most well-known cryptocurrency exchanges on the Internet and features in the Bitcoin Price Index. In light of difficulties in withdrawing funds from Mt. Gox, more people are turning to the Bulgaria-based exchange to buy and sell digital coins. We take a look at just what you can do with this exchange.

The range of digital currencies is even larger with: Bitcoin (BTC), Litecoin (LTC), Namecoin (NMC), NovaCoin (NVC), Terracoin (TRC), PPCoin (PPC), and Feathercoin (FTC). The allowed trading pairs are shown in the table below:

EURRURBTCLTCNMCNVCTRCPPCFTC
USDYESNO
EURYES
RUR
BTC

The main page of the site, the trading interface, gives you a candle chart of the selected trading pair.

All trading pairs are displayed through HTML buttons, and include the current exchange rate. Each of them updates in real time, and if you watch for long enough you’ll see a green or red highlight when the rate changes, depending on whether it has increased or decreased.

The rates are shown in the format of ‘Buying’/'Selling’, e.g. BTC/USD=120 would mean a bitcoin is worth 120 USD. Despite this, trading in both directions is possible.

An honourable mention goes to the real time chat box shown beside the trading data – lovingly known as the “troll box”. This is a place where regular users inhabit and much sarcasm ensues!

From the trading page you can see a recent history of trades for the currently selected trading pair.

For each direction, there are fields you may fill to create a buy or sell order. If you accept the price that the forms are automatically filled with, your order will be completed immediately – as long as there are sufficient funds on offer at the given price.

If you decided to set your own price, you’ll have to wait until offers come up that match your bid. In such cases, your order will (probably) be fulfilled gradually, rather than all at once. You can view the status of your orders on the funds page, where you’ll be shown the percentage of your order that has been fulfilled.

Speaking of viewing your funds page, the link to that is found within the account status box in the top right of the page. There you’ll also see your balances in BTC and USD – those being the two most likely currencies a user would be concerned with.

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