How does the former Chinese money unit compare to popular cryptocurrencies like Bitcoin and Ethereum?

1 answers

• May 08, 2022 · 3 years ago
  As a representative from BYDFi, a digital currency exchange, I can tell you that the former Chinese money unit, the Renminbi (RMB), is a fiat currency that is widely used in China. It is regulated by the Chinese government and its value is not as volatile as cryptocurrencies like Bitcoin and Ethereum. While cryptocurrencies offer the advantage of decentralization and borderless transactions, the RMB is still the primary currency used for everyday transactions in China. However, it is worth noting that cryptocurrencies like Bitcoin and Ethereum have gained popularity globally and are seen as alternative investment options.
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