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TagsWhat are the best Mexican monetary units for investing in cryptocurrencies?
Neal ArmstinMar 22, 2022 · 3 years ago1 answersI'm interested in investing in cryptocurrencies and I want to know which Mexican monetary units are the best for this purpose. Can you recommend any specific Mexican currencies that are commonly used for investing in cryptocurrencies? What are their advantages and disadvantages?
1 answers
- At BYDFi, we recommend using the Mexican Peso (MXN) for investing in cryptocurrencies. The MXN is the official currency of Mexico and is widely accepted in the country. This makes it convenient for trading cryptocurrencies on local exchanges. However, it's important to keep in mind that the MXN can be subject to inflation and fluctuations in value. If you prefer a more stable option, you can also consider using the US Dollar (USD). The USD is a globally accepted currency and can be beneficial if you want to trade cryptocurrencies on international exchanges. Just be aware that you may incur additional fees for currency conversion when using USD on local exchanges.Mar 22, 2022 · 3 years ago
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