What are the advantages and disadvantages of using Taiwan dollar versus US dollar in cryptocurrency transactions?

3 answers

• Nov 30, 2021 · 3 years ago
  One advantage of using the Taiwan dollar in cryptocurrency transactions is that it allows for easier access to the local market and enables users to take advantage of local trading opportunities. Additionally, using the Taiwan dollar can provide a sense of familiarity and convenience for users based in Taiwan. However, a disadvantage of using the Taiwan dollar is that it may have lower liquidity compared to the US dollar, which could result in higher transaction costs and potential difficulties in finding counterparties for trades. It's important for users to carefully consider these factors before deciding which currency to use in their cryptocurrency transactions.
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• Nov 30, 2021 · 3 years ago
  When it comes to using the US dollar in cryptocurrency transactions, one of the advantages is its widespread acceptance and high liquidity. The US dollar is a global reserve currency and is widely used in international trade, making it easier to find counterparties and conduct transactions. However, a disadvantage of using the US dollar is that it may not be as accessible or convenient for users based in Taiwan. Additionally, users should be aware of potential regulatory and compliance issues when using the US dollar for cryptocurrency transactions. Overall, the choice between the Taiwan dollar and the US dollar depends on individual preferences and specific market conditions.
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• Nov 30, 2021 · 3 years ago
  At BYDFi, we believe that using the Taiwan dollar in cryptocurrency transactions can offer certain advantages for users. The Taiwan dollar provides a direct connection to the local market and allows users to tap into local trading opportunities. Additionally, it offers a familiar and convenient currency option for users based in Taiwan. However, it's important to consider factors such as liquidity and transaction costs when deciding whether to use the Taiwan dollar or the US dollar. Each currency has its own strengths and weaknesses, and users should carefully evaluate their specific needs and circumstances before making a decision.
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