What are the advantages of using pound sterling vs euro in cryptocurrency trading?

3 answers

• Dec 25, 2021 · 3 years ago
  One advantage of using pound sterling in cryptocurrency trading is its stability. GBP is a major global currency and is less volatile compared to some other currencies. This stability can provide traders with a sense of security and confidence in their investments. Additionally, GBP is widely accepted in the cryptocurrency market, making it easier to trade and convert between cryptocurrencies and fiat currencies.
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• Dec 25, 2021 · 3 years ago
  Another advantage of using pound sterling is the potential for arbitrage opportunities. Since GBP is not as commonly used in cryptocurrency trading as other currencies like USD or BTC, there may be price discrepancies between different exchanges. Traders can take advantage of these price differences to buy low on one exchange and sell high on another, potentially making a profit.
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• Dec 25, 2021 · 3 years ago
  At BYDFi, we believe that the advantages of using pound sterling in cryptocurrency trading are mainly related to the stability and widespread acceptance of GBP. However, it's important to note that the choice of currency ultimately depends on individual preferences and trading strategies. Some traders may prefer to use euro or other currencies based on their specific needs and market conditions.
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