What are the advantages and disadvantages of using USD instead of GST?

3 answers

• Dec 18, 2021 · 3 years ago
  One advantage of using USD instead of GST in digital currency transactions is the stability and wide acceptance of the USD. As the world's reserve currency, the USD is widely recognized and trusted, which can provide a sense of security for users. However, a disadvantage is that relying solely on USD can limit the diversification of digital currency holdings and expose users to the risks associated with the USD, such as inflation or geopolitical factors.
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• Dec 18, 2021 · 3 years ago
  Using USD instead of GST can offer convenience and familiarity to users, especially those who are already accustomed to dealing with USD in their daily lives. However, it's important to note that relying solely on USD can also lead to a lack of exposure to other currencies and potentially miss out on investment opportunities in other digital assets.
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• Dec 18, 2021 · 3 years ago
  From BYDFi's perspective, using USD instead of GST can provide a more stable and regulated environment for digital currency trading. With the USD being a widely recognized fiat currency, it can help attract more users and facilitate liquidity. However, it's crucial for users to consider the potential risks and limitations of relying solely on USD, as diversification and exposure to other currencies can be important for a well-rounded digital asset portfolio.
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