Trading on Mt. Gox, which is now the largest Bitcoin exchange, started in July 2010 at an exchange rate of $0.05 USD. This comment suggests that on May 2010, bitcoins were traded at bitcoinmarket.com for roughly $0.004 USD.

What other exchanges existed this early in Bitcoin's life? What is the earliest/lowest recorded exchange rate?

1 Answer 1


According to https://en.bitcoin.it/wiki/History:

2009 October 5 Exchange rates published by New Liberty Standard. $1 = 1,309.03 BTC (and theymos thought NLS was overcharging[3])

It cites http://newlibertystandard.wetpaint.com/page/2009+Exchange+Rate and https://en.bitcoin.it/wiki/History#cite_note-2

That first citation seems to have a decent list of pre-May 2010 exchange rates.

  • 2
    That's cool. I still think there's room for more detail in the scope of this question (e.g., how much volume did NLS have with these rates, other early exchanges and their starting rates). Commented Nov 20, 2012 at 18:06
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    Yes, maybe someone who was actually around (in 'the Bitcoin world') back then could shed some light on the volume of NLS. Also, I would expect the most volume at the time to have come from OTC trades, so maybe someone can chime in with their anecdotal experience for that time frame.
    – smickles
    Commented Nov 20, 2012 at 21:23

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