Bitcoin is surging above $US10,000 -- here's what it costs to buy on different exchanges

Photo: Andrew Burton/Getty Images

Bitcoin cleared the $US10,000 barrier overnight and has consolidated its gains in Asian trade.

A short time ago, prices had reached $US10,370 trading on Bitfinex, one of the largest US-based cryptocurrency exchanges.

While the recent price action marks around a $US2,000 increase since last Thursday, the current value of Bitcoin varies considerably among different exchanges.

The table below provides a summary of Bitcoin conversions into USD among different global exchanges as at 3:30pm AEDT today, via the website coinmarketcap.com.

Among the 21 exchanges listed, the gap between the highest and lowest conversion amounts is $US813.52.

That’s a difference of more than 8%, which is perhaps reflective of the price volatility as Bitcoin continues to attract mainstream popularity.

The amount of volume traded in USD is also a useful guide as to the size of different Bitcoin exchanges.

For example, Bitfinex — a well-known cryptocurrency exchange — had more than $US500 million worth of Bitcoin transaction volume in the last day alone.

Bitfinex charges 2% per transaction, so volume of $583 million equates to daily fee revenue of around $US11.6 million.

Amid the latest price surge, Bitcoin is also beginning to attract interest from institutional investors, with the CME Group — one of the largest exchange groups in the world — expected to launch Bitcoin futures in December (here’s how that will work).

However, some investors have expressed scepticism that a regulated futures market will be launched by the end of the year.

NOW READ: The electricity used to mine Bitcoin this year is bigger than the annual usage of 159 countries

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.