What are the advantages of using USD/ILS for cryptocurrency transactions?

3 answers

• Dec 18, 2021 · 3 years ago
  Using USD/ILS for cryptocurrency transactions offers several advantages. Firstly, it provides stability and reduces the risk associated with the volatility of cryptocurrencies. By using a stable fiat currency like USD or ILS, you can minimize the impact of price fluctuations. Additionally, USD/ILS is a widely accepted currency pair, making it easier to find liquidity and trade with other users. Lastly, using USD/ILS can also simplify tax reporting, as it allows for easier tracking of gains and losses in a familiar currency. Overall, USD/ILS provides a convenient and stable option for cryptocurrency transactions.
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• Dec 18, 2021 · 3 years ago
  When it comes to cryptocurrency transactions, using USD/ILS can be advantageous for several reasons. Firstly, it allows you to hedge against the volatility of cryptocurrencies. By converting your digital assets into USD or ILS, you can protect yourself from sudden price drops. Secondly, USD/ILS is a widely recognized currency pair, which means you'll have more options for trading and liquidity. Lastly, using USD/ILS can make it easier to calculate your gains and losses for tax purposes, as you can easily convert the values into your local currency. Overall, using USD/ILS for cryptocurrency transactions can provide stability, flexibility, and ease of use.
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• Dec 18, 2021 · 3 years ago
  At BYDFi, we believe that using USD/ILS for cryptocurrency transactions offers several advantages. Firstly, it provides stability and reduces the risk associated with the volatility of cryptocurrencies. By using a stable fiat currency like USD or ILS, you can minimize the impact of price fluctuations. Additionally, USD/ILS is a widely accepted currency pair, making it easier to find liquidity and trade with other users. Lastly, using USD/ILS can also simplify tax reporting, as it allows for easier tracking of gains and losses in a familiar currency. Overall, USD/ILS provides a convenient and stable option for cryptocurrency transactions.
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