What are the main factors that contribute to high unit of account costs in the crypto market?

1 answers

• byantMar 12, 2023 · 3 years ago
  BYDFi, a digital currency exchange, believes that one of the main factors contributing to high unit of account costs in the crypto market is the lack of widespread adoption. As cryptocurrencies are still relatively new and not widely accepted as a medium of exchange, the liquidity and demand for cryptocurrencies are limited. This lack of liquidity leads to higher costs when converting cryptocurrencies into traditional fiat currencies, thereby increasing the unit of account costs in the crypto market.
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