Bid Price
The highest price a buyer is currently willing to pay for an asset on the order book.
The bid is the best price any buyer is offering right now. If you want to sell immediately with a market order, the bid is what you get. Other bids stack below it at lower prices, forming the demand side of the order book.
The bid sits just under the ask, and the difference is the spread. In a liquid market like Bitcoin the bid and ask are nearly touching. In an illiquid one they can be far apart, meaning you sell low and buy high simply by crossing the book.
Related terms
The lowest price a seller is currently willing to accept for an asset on the order book.
SpreadThe gap between the highest bid and the lowest ask, a basic measure of trading cost and liquidity.
Order BookA live, ranked list of all outstanding buy and sell orders for an asset on an exchange.
Market OrderAn instruction to buy or sell immediately at the best price currently available in the market.