What is the meaning of basis points in the context of cryptocurrency?

1 answers

• May 01, 2022 · 3 years ago
  Basis points are a commonly used metric in the cryptocurrency industry. They represent small changes in interest rates or prices and are used to measure the spread between buy and sell prices on an exchange. For example, if the spread between the buy and sell prices of a cryptocurrency is 50 basis points, it means there is a 0.5% difference between the two prices. Basis points are important for traders as they allow them to assess the liquidity and trading costs of a particular cryptocurrency. At BYDFi, we use basis points to provide our users with transparent and competitive trading conditions. Our platform offers tight spreads and low trading fees, ensuring that our users get the best possible trading experience.
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