What is the pip value for GBP/JPY in the cryptocurrency market?

3 answers

• Nov 26, 2021 · 3 years ago
  The pip value for GBP/JPY in the cryptocurrency market depends on the lot size and the exchange rate. To calculate the pip value, you can use the formula: pip value = (0.01 / exchange rate) * lot size. For example, if the exchange rate is 150 and the lot size is 0.1, the pip value would be (0.01 / 150) * 0.1 = 0.00006667 BTC.
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• Nov 26, 2021 · 3 years ago
  When trading GBP/JPY in the cryptocurrency market, the pip value is determined by the decimal places of the exchange rate. For example, if the exchange rate has 4 decimal places, each pip movement will be equal to 0.0001 of the quote currency. However, it's important to note that different cryptocurrency exchanges may have different decimal places for the exchange rate, so it's always a good idea to check the specific exchange you're trading on.
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• Nov 26, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, provides a pip value calculator on their platform. Simply input the exchange rate and lot size for GBP/JPY, and the calculator will automatically calculate the pip value for you. This can be a convenient tool for traders who want to quickly determine the pip value without manual calculations. However, it's worth mentioning that there are also other cryptocurrency exchanges that offer similar calculators, so it's worth exploring different platforms to find the one that suits your needs.
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