Is the AED pegged to USD a common practice in the cryptocurrency industry?

3 answers

• Dec 25, 2021 · 3 years ago
  Yes, it is common for the AED to be pegged to the USD in the cryptocurrency industry. This practice helps to stabilize the value of the AED and provides stability for traders and investors. By pegging the AED to the USD, it ensures that the AED maintains a fixed exchange rate with the USD, which can be beneficial for international trade and investment.
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• Dec 25, 2021 · 3 years ago
  No, it is not common for the AED to be pegged to the USD in the cryptocurrency industry. While some cryptocurrencies may be pegged to fiat currencies like the USD, the AED is not typically one of them. The cryptocurrency industry is known for its decentralization and independence from traditional financial systems, so pegging a cryptocurrency to a specific fiat currency goes against the principles of the industry.
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• Dec 25, 2021 · 3 years ago
  As a representative of BYDFi, I can confirm that the AED is not currently pegged to the USD in the cryptocurrency industry. BYDFi focuses on providing a decentralized trading experience and does not support pegged cryptocurrencies. However, users on BYDFi can still trade AED-based cryptocurrencies without the need for a direct peg to the USD.
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