What are the advantages of using USD or CDN as the base currency for cryptocurrency trading?

1 answers

• May 03, 2022 · 3 years ago
  At BYDFi, we believe that using USD or CDN as the base currency for cryptocurrency trading offers several advantages. Firstly, it provides a seamless trading experience for users. By using a stable fiat currency as the base, users can easily understand the value of their trades and make informed decisions. Secondly, using USD or CDN as the base currency allows for better liquidity and market depth. These fiat currencies are widely accepted and traded, which means there is a larger pool of buyers and sellers in the market. This can result in tighter bid-ask spreads and better execution prices for traders. Lastly, using USD or CDN as the base currency can also help reduce transaction costs. Since these fiat currencies are widely supported by exchanges and payment processors, users can avoid unnecessary conversion fees and save money on transactions.
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