<p>I asked them in an email and they provided me with the following response:</p>

<blockquote>
  <p>... we use a Volume-Weighted Average Price (VWAP) over multiple
  exchanges (not CoinJar though as the Wikipedia article said) to get an
  average rate that reflects most of the BTC exchange rate market.
  <a href="https://en.wikipedia.org/wiki/Volume-weighted_average_price" rel="nofollow noreferrer">https://en.wikipedia.org/wiki/Volume-weighted_average_price</a></p>
</blockquote>

<p>and</p>

<blockquote>
  <p>...each order you make will be processed with the best exchange rate we
  can find at the moment.</p>
</blockquote>

CC BY-SA 3.0
2017-03-01T09:16:46.157Z
2017-03-01T09:16:46.157Z
Jan M.
<p>I have not found anything in their FAQ. As I understand, you can buy BTC from BTC exchanges, a place where buyers and sellers meet and agree on some price. </p>

<ul>
<li>If I buy BTC through Coinify, where do they get them? They only list a BTC price on their front page but no source whatsoever. </li>
<li><p>Provided there is some exchange they use, where can I track the Euro/BTC exchange rate?</p></li>
<li><p>Do I have to make multiple accounts for each exchange with the entire verification stuff each time I want to get my BTC somewhere else?</p></li>
</ul>

CC BY-SA 3.0
2017-02-21T10:49:39.407Z
According to [Wikipedia](https://en.wikipedia.org/wiki/List_of_bitcoin_companies#cite_note-coinify-1-7), they use Coinjar. Why wouldn't they list this on their website?
Jan M.
<exchanges><trading><tracking>
Where does Coinify get its Bitcoins, and can I track their exchange rate somewhere?
Jan M.
# Where does Coinify get its Bitcoins, and can I track their exchange rate somewhere?

(Asked by: username_0 on 2017-02-21)

I have not found anything in their FAQ. As I understand, you can buy BTC from BTC exchanges, a place where buyers and sellers meet and agree on some price.

* If I buy BTC through Coinify, where do they get them? They only list a BTC price on their front page but no source whatsoever.
* Provided there is some exchange they use, where can I track the Euro/BTC exchange rate?
* Do I have to make multiple accounts for each exchange with the entire verification stuff each time I want to get my BTC somewhere else?

**Tags:** exchanges, trading, tracking

> **Comments:**
> **username_0**: According to [Wikipedia](https://en.wikipedia.org/wiki/List_of_bitcoin_companies#cite_note-coinify-1-7), they use Coinjar. Why wouldn't they list this on their website?  

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## 1 answers

### Answer by username_0 on 2017-03-01. Score: 2 | Accepted answer

I asked them in an email and they provided me with the following response:

> ... we use a Volume-Weighted Average Price (VWAP) over multiple
> exchanges (not CoinJar though as the Wikipedia article said) to get an
> average rate that reflects most of the BTC exchange rate market.
> <https://en.wikipedia.org/wiki/Volume-weighted_average_price>

and

> ...each order you make will be processed with the best exchange rate we
> can find at the moment.


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