What type of currency should I use when trading digital assets?

3 answers

• Dec 26, 2021 · 3 years ago
  When trading digital assets, it is recommended to use stablecoins such as USDT (Tether) or USDC (USD Coin). These stablecoins are pegged to the value of a fiat currency, usually the US dollar, which helps to minimize the volatility associated with cryptocurrencies. Additionally, using stablecoins can provide faster transaction times and lower fees compared to using traditional fiat currencies. However, it is important to do your own research and consider factors such as liquidity and trustworthiness of the stablecoin issuer before choosing a currency for trading digital assets.
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• Dec 26, 2021 · 3 years ago
  In my opinion, the type of currency you should use when trading digital assets depends on your personal preferences and trading strategy. Some traders prefer to use Bitcoin (BTC) or Ethereum (ETH) as their base currency, while others prefer to use stablecoins or even fiat currencies. It's important to consider factors such as liquidity, trading pairs availability, and transaction fees when choosing a currency for trading digital assets. Ultimately, it's up to you to decide which currency suits your needs and trading style the best.
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• Dec 26, 2021 · 3 years ago
  When it comes to trading digital assets, BYDFi recommends using their native token BYD. BYD is a utility token that offers various benefits to traders, such as discounted trading fees, access to exclusive features, and participation in the platform's governance. By using BYD as your trading currency, you can enjoy these advantages and be part of the BYDFi community. However, it's important to note that BYD is specific to the BYDFi platform and may not be widely accepted on other exchanges. Therefore, it's essential to consider the liquidity and trading opportunities available for BYD before making it your primary trading currency.
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