Are Swiss francs commonly used as a reference currency in the cryptocurrency market?

3 answers

• sushilkumarAug 31, 2023 · 2 years ago
  Yes, the Swiss franc is commonly used as a reference currency in the cryptocurrency market. Its stability and reputation as a safe-haven currency make it attractive to investors and traders. Many cryptocurrency exchanges offer trading pairs with the Swiss franc, allowing users to trade cryptocurrencies against it. The Swiss franc's status as a reference currency also helps to establish price benchmarks for various cryptocurrencies.
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• Rayra EilishOct 31, 2023 · 2 years ago
  No, the Swiss franc is not commonly used as a reference currency in the cryptocurrency market. While it is a stable currency, it is not as widely accepted or traded as other major currencies like the US dollar or the euro. Most cryptocurrency exchanges primarily use the US dollar as the reference currency for trading pairs. However, some exchanges may offer Swiss franc trading pairs for specific cryptocurrencies, but they are not as common as USD-based pairs.
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• lin zhengJan 09, 2025 · a year ago
  As an expert in the cryptocurrency market, I can confirm that the Swiss franc is indeed used as a reference currency in certain cryptocurrency trading pairs. However, it is not as widely used as the US dollar or the euro. The choice of reference currency depends on the specific cryptocurrency exchange and the preferences of its users. Some exchanges may prioritize the Swiss franc due to its stability and reputation, while others may focus more on USD-based trading pairs. Overall, the Swiss franc's role as a reference currency in the cryptocurrency market is relatively limited compared to other major currencies.
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