CRYPTOfixing is Cryptovalues’ service that establishes a daily bitcoin value, which will be the benchmark for institutional investors as well as the retail public.
We introduce fixing to the world of cryptocurrencies, bringing definitive prices, as is the case with gold, silver, Euribor and fiat currencies.
Why use it?
CRYPTOfixing introduces a fixed point in the daily volatility of crypto assets, by defining a reference value that can be used in the calculation of Net Asset Value (N.A.V.), which is decisive in the evaluation of the total return of the underlying asset, and in the creation of derivative financial products such as futures and options.
It also finds application in the calculation of capital gains for tax reporting purposes.
Cryptofixing fixes bitcoin every day.
The reference exchanges for calculation purposes are: Coinbase, Bitpanda, Cex.io, Kraken, Bitstamp and The Rock Trading*.
The exchanges listed have been chosen for the presence of the BTC/EUR exchange pair and compliance with anti-money laundering regulations and European legislative standards. The list is subject to change to ensure that the fixing is as reliable as possible.
At 00.00 UTC, the “bid (/bid)” and “ask (/ask)” values will be averaged for each of the 6 reference exchanges. Then, from the 6 resulting data, the data with the highest and the lowest value respectively will be removed, and then the average of the 4 remaining data will be carried out to obtain the fixing.
*NOTE: Cryptofixing average update from 01.02.2023
As of 01.02.2023 , following the suspension of The Rock Trading exchange, we inform you that the average is now calculated among the 5 remaining exchanges.