Which rule, the rule of 70 or the rule of 72, is more commonly used in the cryptocurrency industry?

3 answers

• May 03, 2022 · 3 years ago
  The rule of 70 is more commonly used in the cryptocurrency industry for calculating compound interest. This rule states that to estimate the number of years it takes for an investment to double, you divide 70 by the annual interest rate. For example, if the annual interest rate is 7%, it would take approximately 10 years for the investment to double. This rule is widely used because it provides a quick and easy way to estimate the growth of an investment.
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• May 03, 2022 · 3 years ago
  In the cryptocurrency industry, both the rule of 70 and the rule of 72 are commonly used for calculating compound interest. The rule of 70 is often preferred because it provides a slightly more accurate estimate due to the natural logarithm base of e. However, the rule of 72 is also widely used and can provide a good approximation in most cases. Ultimately, the choice between the two rules depends on personal preference and convenience.
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• May 03, 2022 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, the rule of 70 is more commonly used in the industry for calculating compound interest. This rule is favored for its simplicity and ease of use. However, it's worth noting that both the rule of 70 and the rule of 72 are widely recognized and accepted methods for estimating compound interest. The choice between the two rules may vary among individuals and organizations based on their specific needs and preferences.
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