As you all know, my followers can drop their questions in the comments section of my posts. I'll happily respond to everyone. I usually ask for a rain of likes to show that I'm doing a good job in informing and spreading the word about cryptocurrencies to new corners of the world.
One of my followers asked me this question: "ethfi tomorrow 5 pairs I don't understand, will they be 5 different coins?"
The post I'm quoting below this one shows the official announcement I made when we all found out on Binance that there would be a new listing for the Ether.fi project (
#ETHFI ). And yes, Binance will open trading for 5 PAIRS, namely: ETHFI/BTC, ETHFI/USDT, ETHFI/BNB, ETHFI/FDUSD, and ETHFI/TRY.
But this DOESN'T mean there will be 5 different cryptocurrencies of ETHFI. To make it clear for the
#Newbies group, and I'm not saying this to discredit any newcomers, as we all learned this from scratch here...
To understand this, we need to grasp what a PAIR is. When we talk about currency1/currency2, that's called a PAIR. It's called that because in trading markets, the exchange of two assets is done in "pairs." To buy one, you must sell the other, and to sell an asset (you're buying the other pair).
So, there will be 1 cryptocurrency listed: ETHFI (that's the name). And it can be traded in 5 pairs, meaning BTC, USDT, BNB, FDUSD, and TRY. Basically, we need to understand that ETHFI can be directly exchanged with those 5 cryptocurrencies: BTC, USDT, BNB, FDUSD, and TRY.
I hope it's clear now
@suspeito zero #educational