Converting BTC and ETH to USD: How Crypto Prices Are Set
Unlike fiat currencies, cryptocurrencies trade 24/7 across hundreds of exchanges with no central price. The 'BTC to USD' rate you see on any given site is an aggregate of recent trades — and it can vary by a fraction of a percent between sources.
How Crypto Prices Are Calculated
Each exchange runs its own order book matching buyers and sellers. The 'price' of Bitcoin or Ether at any moment is simply the most recent trade on that exchange. Aggregator services (CoinGecko, CoinMarketCap, and similar) compute volume-weighted averages across many exchanges to give a single reference rate.
Because arbitrage traders constantly close gaps, prices across major exchanges usually stay within 0.1–0.5% of one another. Bigger gaps tend to appear only in smaller markets or during extreme volatility.
Why Your Conversion May Differ From the Quoted Rate
Exchanges charge a trading fee (typically 0.1–0.5%) and may add a spread between their buy and sell quotes. On top of that, network fees apply when you move crypto on-chain, and converting to fiat through your bank may add another currency or wire fee.
If you're just checking the value of a holding for accounting or curiosity, mid-market aggregator rates are the standard reference.
Volatility
Crypto prices can move several percent in a day — sometimes in minutes. A conversion you check at noon may be meaningfully out of date by evening. Always refresh before executing a real transaction.
Worked Example
If 1 BTC = $42,000 then 0.05 BTC is worth $2,100. If 1 ETH = $2,500 then 3 ETH = $7,500. Our converter pulls fresh rates each time the page loads.
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Frequently Asked Questions
Which exchange's price is 'right'?
There's no single answer. Aggregator volume-weighted averages give the fairest reference, but the price you'll actually transact at is whatever your specific exchange shows.
Do stablecoins count?
Stablecoins like USDC and USDT are designed to track $1 closely but can briefly deviate during market stress.