Is bid value the amount I will get if I sell?

Question

I have looked at links and asked this but, I am confused...and PLEASE DON'T TREAT ME LIKE I AM STUPID (I have had that happen on a few sites by 'Trolls'). Bit of a "Techie Challenged Idiot" so a little confused by the 'language' some use to explain the dollar value verses bid value since I am not so good on making sense of apps and computer stuff and never have been. For example if I have xyz amount of BTC and it says it is worth so many dollars but, there is a 'Bid Value' that is a great deal higher such as say the dollar amount shows under 100 dollars but, the bid is in the thousands what is the TRUE amount I would receive if I were to sell the BTC? The platform I use hasn't given me a clear answer on this and I am hoping to get one before I make a decision on what I want to do with these coins. I want to invest however, my financial institution is cracking down on funding and usingBTC so I am hoping to cash out, get my profits before they start locking accounts of people on those sort of plaforms. Help

Answer 1

Is bid value the amount I will get if I sell?

According to https://www.investopedia.com/terms/b/bid-and-ask.asp

The bid price represents the maximum price that a buyer is willing to pay for a share of stock or other security. The ask price represents the minimum price that a seller is willing to take for that same security. A trade or transaction occurs when a buyer in the market is willing to pay the best offer available—or is willing to sell at the highest bid.

So you might offer your BTC for sale for $1000 and it would only sell if someone bid $1000 or more. If no-one bids that much you would never sell your BTC.

If you find no-one is bidding more than $950 you would only be able to sell by offering to sell at $950.

Note the word bid and offer in this context are not specific to Bitcoin. This is really a question about the terminology used by all marketplaces for financial products. This means you might get more informed answers by searching in money.stackexchange.com or by asking there if there are no existing answers.

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say the dollar amount shows under 100 dollars but, the bid is in the thousands what is the TRUE amount I would receive if I were to sell the BTC?

It should be readily apparent whether the specific exchange you are using expresses bid values as a rate (e.g. $17000 for 1.00000 BTC) or as an amount of one currency for a specific amount of another (e.g. $100 for your 0.00006 BTC).

Peronally I think it best to configure your wallet to show its content amounts in units of BTC rather than USD etc. Maybe switching back and forth will make things clearer in your mind?