Why is the EUR exchange rate often used as a benchmark for cryptocurrency prices?

3 answers

• Nov 28, 2021 · 3 years ago
  The EUR exchange rate is often used as a benchmark for cryptocurrency prices due to its stability and widespread use in international trade. As one of the most widely traded currencies in the world, the EUR provides a reliable reference point for comparing the value of cryptocurrencies across different exchanges. Additionally, using the EUR as a benchmark allows for easier comparison with traditional financial markets and facilitates the integration of cryptocurrencies into the global economy.
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• Nov 28, 2021 · 3 years ago
  The EUR exchange rate is a popular benchmark for cryptocurrency prices because many cryptocurrency exchanges offer trading pairs with EUR. This means that users can easily buy or sell cryptocurrencies using EUR, making it a convenient reference point for determining the value of different cryptocurrencies. Moreover, the EUR is a widely recognized and trusted currency, which adds credibility to the cryptocurrency market.
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• Nov 28, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi recognizes the importance of the EUR exchange rate as a benchmark for cryptocurrency prices. The EUR is widely used in international trade and serves as a stable currency in the global financial system. By using the EUR as a benchmark, BYDFi ensures that its users have a reliable reference point for evaluating the value of cryptocurrencies. This helps to foster transparency and trust in the cryptocurrency market.
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