What is the Chinese money unit used in the cryptocurrency industry?

3 answers

• UdoyFeb 02, 2024 · 2 years ago
  The Chinese money unit commonly used in the cryptocurrency industry is the Chinese Yuan (CNY). It is often used as a trading pair with various cryptocurrencies on different exchanges. The value of cryptocurrencies is often quoted in terms of CNY, and traders can buy or sell cryptocurrencies using CNY on these platforms. It is important to note that the use of CNY in the cryptocurrency industry is subject to regulations and restrictions imposed by the Chinese government.
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• Gabriel TignorFeb 03, 2021 · 5 years ago
  In the cryptocurrency industry, the Chinese money unit used is the Chinese Yuan (CNY). It's like the dollar in the United States or the euro in Europe. Many cryptocurrency exchanges, including Binance and BYDFi, offer trading pairs with CNY. This means that you can trade cryptocurrencies like Bitcoin or Ethereum with CNY. It's a convenient way for Chinese traders to participate in the global cryptocurrency market.
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• Saurabh MishraApr 03, 2022 · 3 years ago
  The Chinese money unit commonly used in the cryptocurrency industry is the Chinese Yuan (CNY). It is widely accepted on various cryptocurrency exchanges, including BYDFi. Traders can easily convert their CNY into cryptocurrencies and vice versa. The use of CNY provides Chinese traders with a familiar and convenient way to engage in cryptocurrency trading. However, it's important to keep in mind that the cryptocurrency market is highly volatile, and it's always recommended to do thorough research and exercise caution when investing or trading.
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