Crypto Trading Pair
Hi guys! How are you? How is it in the market? At a loss or big profit?
Let's update BTC first, how are things going?
BTC is currently in the indecision area.
This decision gives rise to 2 directions as follows:
If it continues to rise and breaks the white line, then there is potential for BTC to continue its increase and it is very possible to reach the 70,000 area
However, if BTC cannot break out of the resistance zone, then there is the potential for BTC to be corrected back to the 62,000 area. This correction is still a reasonable correction, because BTC is already very high in its bullish rally.
While waiting for BTC to move, there are several coins that can be said to be "FUN TO WATCH" because their technical movements are interesting, namely DOGS coin.Â
What DOGS are interesting? I discussed it on my telegram channel, namely Billionaire Trader. You can visit it byÂ
click this link: https://t.me/BillionaireTrader99. Just hurry up and click on the link to get the latest insights on the Market!!!
OK, after we discussed the market for a moment, are you aware that in Crypto, when trading we need something called a Pair or what is usually referred to as a Trading Pair. This is important for us to know because it will indirectly affect our profits!
This trading pair can be said to be a combination of pairs in making trades. Usually this system is used in Forex, such as XAUUSD, JPYUSD, and others. In crypto, there are various trading pairs such as BTCETH, BTCUSD, BTCUSDT.
The explanation of the trading pair is like this:
An example is BTCUSD, then BTC is the main currency that will be countered to the USD Dollar. So, when you want to trade by buying BTC, the BTCUSD will indicate how much USD is needed to buy BTC.
In the crypto market itself there are two types of trading pairs, namely CRYPTO TO CRYPTO, and CRYPTO TO FIAT.
Examples of CRYPTO TO CRYPTO trading pairs are BTCETH, BTCSOL. Meanwhile, if CRYPTO TO FIAT then the example is BTCUSD, BTCEUR.
So, which trading pair is the best in my opinion!?
In my own opinion...Trading pairs are actually up to the traders or investors, because everything is subjective depending on preferences and uses and profits that each person wants to achieve. There are those who like to use USD, there are those who like Euros, or there are those who use other crypto such as ETH to exchange for BTC.
However, I personally would be inclined to use trading pairs with Us Dollar when carrying out buying and selling trading activities in the crypto market. There are several reasons that I feel are strong enough to convince me to use this trading pair with Us Dollar.
The first reason why I use the Us Dollar trading pair is... because it's Us Dollar hahahaha.
We know that the US dollar is the strongest currency in the world at the moment. The US dollar itself is also a reserve currency or what is usually called a global reserve currency which facilitates a lot of international trade. About 60% of reserve currency in the world is held in USD. So, yeah, for sure I used USD as my main trading pair in the cryptocurrency market.
The second reason why I use the Us Dollar trading pair is liquidity. This is very important friends, especially DON'T TAKE PAIR PROMOTIONS RANDOMLY!
For example, there is a promo campaign using a certain pair and then you will be given a capital cashback bonus of 100% and you will immediately participate. OK, that's right, you can buy it, then if you can't sell it, what's the point? The essence of profit in the world of financial markets is that you can withdraw and post the profit to your account, it's not just in the application that displays your profit or profits. Therefore, liquidity is needed to be able to buy and sell your assets.Â
To avoid the liquidity risk, that's why I use Us Dollar as a trading pair in the market so that if I want to make a sale, purchase, or something like a USDT deposit, everything can be done easily because Us Dollar is liquid. If there is ID liquidity in the trading pair that we have, then automatically all trading activities will run smoothly and if we trade, there will be a sense of security and calm that we will get in all these activities.
The third reason why I use the Us Dollar trading pair is the benefit of Foreign Exchange that applies to the Crypto Market. The benefit of ForEx is the exchange rate. As we know, the dollar exchange rate will be stronger than the Indonesian exchange rate. If we are in Indonesia, we definitely know that if we buy goods that use dollars as their price tag, the price of the goods will tend to be much more expensive than when the price tag is in Indonesian rupiah.Â
Likewise, if we do the opposite, if we buy goods that use Indonesian rupiah as their price tag, the price of the goods will tend to be much CHEAPER compared to when the price tag uses dollars. Just imagine if you deposit US dollars to carry out trading activities on Binance when the US Dollar is cheap, then when the US Dollar increases, your intrinsic nominal value will increase too. This can be likened to investing in dollars but digitally, which can be in the form of USD or USDT.
I mentioned USDT earlier, just for your information, I don't use real US Dollars when carrying out trading activities on the market. I use USDT or Usd Thether in carrying out trading activities in this crypto market. What is USDT? Maybe you hear it very often but don't know what USDT actually is?
USDT (USD- Tether) is a type of stablecoin designed to maintain a stable value by being pegged to a fiat currency, in this case the US Dollar (USD). The meaning of stable means that the value is pegged directly to the value of the US Dollar, so 1 USDT is usually worth around 1 USD. USDT is issued by a company called Tether Limited.
Through Theter Limited, USDT is pegged 1:1 with the US Dollar. Tether Limited claims that every USDT in circulation is backed by equivalent reserves in dollars or other dollar-equivalent assets. So no matter how many USDT are circulating on the market, all of them are "Fully Backed Up" with real US Dollars that you can see in films or if you have the real ones in your wallet, it's the same as this USDT. The Tether Limited company publishes periodic reports to show the reserves supporting USDT in circulation so that all existing USDT has reports provided in a transparent and clear manner.
So, that is the trading pair that I use, namely USDT. What about you yourself? Write in the comments column, OK!
