Home / Cryptocurrency / Bitfinex has added three new Tron TRX / Fiat pairs to increase Fiat's direct exposure

Bitfinex has added three new Tron TRX / Fiat pairs to increase Fiat's direct exposure

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Key cryptographic exchanges have been shy about adding pairs of altcoin licenses as compliance and regulatory requirements increase significantly. But slowly these exchanges are realizing the advantages and needs of these Fiat / Crypto couples to attract new customers and therefore have started to add new and more new fiat-based couples in their offer. According to last announcement, Bitfinex added 3 new fiat pairs for Tron.

Tron's exposure to new FIATs can increase liquidity

According to the recent announcement of Bitfinex, the exchange has added a number of new fiat trading pairs for Tron (TRX). Now, new pairs for Tron, viz TRX / JPY, TRX / GBP, TRX / EUR will be traded on Bitfinex providing additional liquidity to the currency that new investors would bring. According to the announcement

"This is a complete expansion of our product offering to accommodate a growing global commercial market and increase engagement with a number of international money markets." With the addition of the fiat markets above, it is the our constant goal to improve the liquidity and stability of the digital goods market. "

The addition of these new trading pairs to Bitfinex will facilitate the accessibility and convenience for traders, freeing higher levels of liquidity for the exchange and the cryptocurrency market as a whole. The introduction of a greater number of encrypted-fiat trading pairs and the consequent reduction of BTC's reliance as a medium of exchange will work in such a way as to greatly benefit the operators, while reducing the costs associated with the transaction. purchase of Tron – in terms of time and money – of trading digital goods.

Tron (TRX) is a currency that strives to build a global free content entertainment system that uses blockchain technology to allow each user to publish, store and possess data freely. Tron sets the stage for content distribution and subscription, empowering content creators and creating a decentralized content entertainment ecosystem.

Fiat Couples: a solution to many problems

Although the Fiat couple bring new investors to the cryptocurrency, it also solves many problems associated with trading BTC pairs. Some of the problems in trading BTC pairs are like

  • It is excessively slow – The use of an intermediary will obviously require more time, but it is often not as simple as doing two operations. Due to the lack of exchange options in my countries, traders must use a stock exchange to buy BTC before transferring it to an exchange with the exchange pair needed.
  • It can be expensive – the volatility of the cryptomarket means that prices can fluctuate wildly in a few minutes. BTC is able to reduce 2-5% of the value in an hour. Traders holding bitcoins before their altcoin trade may lose significant resources due to this intermediate process. Some exchanges also include commissions for the transfer of cryptocurrency to another exchange.
  • Ties the altcoin value to BTC – Given that there are only a few options for entry and exit from the market (usually BTC, sometimes ETH, LTC), altcoins will be more affected by the success of these dominant currencies. When the price of BTC decreases, the altcoins are likely to fall as well. The lack of pairs of fiat-to-coin straps altcoins on the BTC rollercoaster.
  • Difficult to keep the funds safe – if simply put, the greater the movement of assets, the greater the risk of losing coins due to errors, omissions and fraud

The cryptograph pair of Fiat is easily the most common method to buy cryptocurrency and for new investors to enter the encrypted markets. With exchanges that slowly list new and new pairs for Fiat and Cryptos, you can expect more new money to get into criptos.

Will the Fiat Crypto pair increase liquidity for Tron and will it also get new investors? Let us know your opinions on the same?

Summary

Bitfinex has added three new Tron TRX / Fiat pairs to increase Fiat's direct exposure

Item name

Bitfinex has added three new Tron TRX / Fiat pairs to increase Fiat's direct exposure

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According to the recent announcement of Bitfinex, the exchange has added a number of new fiat trading pairs for Tron (TRX). Now, the most recent pairs for Tron, namely TRX / JPY, TRX / GBP, TRX / EUR will be traded on Bitfinex providing additional liquidity to the currency that new investors would bring.

Author

Nilesh Maurya

Publisher name

Coingape

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The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for personal financial loss.


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