Is GBP commonly used as a reference currency in the cryptocurrency world?

3 answers

• Mauricio SuarezOct 29, 2022 · 3 years ago
  Yes, GBP is commonly used as a reference currency in the cryptocurrency world. Many exchanges and trading platforms offer trading pairs with GBP as the base currency. It provides convenience for traders in the UK and allows them to easily calculate profits and losses in their local currency. Additionally, GBP is considered a stable currency, which makes it an attractive option for investors and traders in the cryptocurrency market.
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• harrybacchusSep 21, 2022 · 3 years ago
  No, GBP is not commonly used as a reference currency in the cryptocurrency world. While some exchanges may offer GBP trading pairs, the majority of trading volume is still dominated by USD and EUR. These currencies have a larger market share and are more widely accepted in the global cryptocurrency market. Traders and investors often prefer to use USD or EUR as their reference currency due to their liquidity and stability.
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• Nico HuMar 11, 2023 · 3 years ago
  As an expert in the cryptocurrency industry, I can confirm that GBP is indeed commonly used as a reference currency in the cryptocurrency world. Many exchanges, including BYDFi, offer GBP trading pairs for various cryptocurrencies. This allows traders to easily buy and sell cryptocurrencies using GBP. The usage of GBP as a reference currency has been increasing over the years, especially in the UK market. It provides a convenient way for UK-based traders to participate in the cryptocurrency market without the need for currency conversion.
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