What do currency-to-crypto transactions and fiat currency transactions mean?
Cryptocurrency trading directly exchanges cryptocurrencies for cryptocurrencies, while fiat trading uses fiat currencies to buy and sell cryptocurrencies. Both counterparties in currency-to-crypto transactions hold cryptocurrency and use cryptocurrency as a medium; while in fiat currency transactions, one party holds legal currency and the other party holds cryptocurrency and exchanges use legal currency as a medium.
Coin-to-crypto trading and fiat currency trading
Coin-to-coin trading
Coin-to-coin trading refers to the direct exchange of one cryptocurrency for another cryptocurrency on the exchange without the use of fiat currency as an intermediary medium. In this type of transaction, both buyers and sellers hold cryptocurrencies and exchange them to get the cryptocurrency they want.
Fiat currency trading
Fiat currency trading refers to buying or selling cryptocurrencies using legal currencies (such as US dollars, euros, Japanese yen, etc.). In this kind of transaction, one party holds fiat currency and the other party holds cryptocurrency, and the two parties exchange through fiat currency as a medium.
Difference
- Transaction Medium: Pin-to-crypto transactions use cryptocurrency, while fiat currency transactions use fiat currencies.
- Counterparties: Both counterparties in currency-to-crypto transactions are individuals or institutions holding cryptocurrency, while one party in a fiat currency transaction holds legal currency and the other party holds cryptocurrency.
- Price Fluctuation: The price fluctuations of currency trading are driven by the cryptocurrency market, while the price fluctuations of fiat currency trading are affected by the cryptocurrency market and the fiat currency market.
- Liquidity: Cryptocurrency trading is generally more liquid than fiat trading because the cryptocurrency market is larger.
- Regulation: Coin-to-crypto transactions are generally unregulated, while fiat currency transactions are supervised by regulatory agencies in various countries.
Suitable for the crowd
- Coin-to-coin trading: Suitable for people who already hold cryptocurrencies and want to trade different cryptocurrencies.
- FIAT TRADING: For those looking to buy or sell cryptocurrencies using fiat currency.
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