What is the meaning of CNY in the context of cryptocurrency?

3 answers

• Nov 23, 2021 · 3 years ago
  CNY stands for Chinese Yuan, which is the official currency of China. In the context of cryptocurrency, CNY refers to the trading pair of cryptocurrencies with the Chinese Yuan. It is commonly used in cryptocurrency exchanges to denote the exchange rate between cryptocurrencies and the Chinese Yuan. This trading pair allows users to buy and sell cryptocurrencies using the Chinese Yuan as the base currency. It is an important trading pair for users in China and those who want to trade cryptocurrencies with the Chinese market.
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• Nov 23, 2021 · 3 years ago
  CNY in the context of cryptocurrency refers to the Chinese Yuan. It is one of the fiat currencies commonly used in cryptocurrency trading. Many cryptocurrency exchanges offer CNY as a trading pair with various cryptocurrencies, allowing users to trade cryptocurrencies with the Chinese Yuan. The availability of CNY trading pairs provides users with the opportunity to enter and exit the cryptocurrency market using their local currency. It also facilitates international trading and investment in cryptocurrencies for users in China.
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• Nov 23, 2021 · 3 years ago
  CNY, also known as the Chinese Yuan, is a widely used fiat currency in the context of cryptocurrency. It is an important trading pair for cryptocurrencies, especially for users in China. Many cryptocurrency exchanges offer CNY trading pairs, allowing users to trade cryptocurrencies with the Chinese Yuan. This provides convenience for users who prefer to trade with their local currency. Additionally, CNY trading pairs contribute to the liquidity and volume of the cryptocurrency market, as it attracts traders from China who want to participate in the global cryptocurrency market.
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