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Next, Joe has to figure out the exchange rate so that he can give the correct amount of bitcoin to Alice. There are hundreds of applications and web sites that can provide the current market rate, here are some of the most popular: • bitcoincharts.com, a market data listing service that shows the market rate of bitcoin across many exchanges around the globe, denominated in different local currencies • bitcoinaverage.com, a site that provides a simple view of the volume-weighted- average for each currency • ZeroBlock, a free Android and iOS application that can display a bitcoin price from different exchanges • bitcoinwisdom.com, another market data listing service Figure 1-3. ZeroBlock - A bitcoin market-rate application for Android and iOS Using one of the applications or websites above, Joe determines the price of bitcoin to be approximately $100 US dollars per bitcoin. At that rate he should give Alice 0.10 bitcoin, also known as 100 milliBits, in return for the $10 US dollars she gave him. Once Joe has established a fair exchange price, he opens his mobile wallet application and selects to “send” bitcoin. He is presented with a screen requesting two inputs: • The destination bitcoin address for the transaction • The amount of bitcoin to send Getting Started | 11PDF Image | Mastering Bitcoin
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