In this article, we’ll explain in detail how the total value of your BLOX vault is composed.
The total value of your vault consists of the following:
- Euro credit
- Current value of owned coins, expressed in euros
1. Euro credit
This is the total value of your euro credit in BLOX. This euro-credit can consist of multiple components. For example the amount that you’ve deposited but didn’t invested in coins (yet).
If you’ve sold coins, that amount will fall under this category as well. That is, if you haven’t withdrawn those euros to your bank account already.
2. Value of your owned coins, expressed in euros
Your vault shows the current value of the coins you’ve bought, in euros. When you decide to sell your coins, that’s the price we expect to receive in return for your coins on the exchange.
The actual return could deviate sometimes. The very moment you press ‘Sell’, is the moment your coins will be offered on a big international exchange. The prices you’re seeing in BLOX are also determined by the current price of the aforementioned exchange.
The price determination is settled based on an order book. You could compare an order book to the bulletin board of your local supermarket. Buyers and sellers hang notes with respectively what they’re seeking and what they’re offering for a certain price.
Let’s say you would like to sell one bitcoin, it’s possible that the highest bidder at that time is only looking for a quarter bitcoin. That part will then be sold to him and the remainder of your bitcoin will be sold to the second highest bidder. This process continues until the full bitcoin is sold.
This may lead to a slightly different price than was initially expected and reflected in your BLOX vault. The bigger the order, the deeper we’ll have to delve into the orderbook to sell your coins and the more the price will deviate from the initial quote.
You’re probably expecting a long process the way we’ve explained it, but this is all carried out in a fraction of a second. After the deduction of our 1% fee, you’ll see the current price of your coins on the sell-order form.