Fiat-to-coin Trading Pairs — A look at the benefits
In cryptocurrency terms, “trading pairs” refer to trades between cryptocurrencies. ETH/BTC is an example of a “trading pair.” Specifically, they are referred to as “coin-to-coin” trading pairs. It’s important for any serious trader to learn about these trading pairs as major profits can be made venturing away from popular coins, to lesser-known, up-and-coming coins.
So, what are “fiat-to-coin” trading pairs? Fiat-to-coin specifies trading between a nation’s local currency and a cryptocurrency. For example, USD/BTC is a fiat-to-coin trading pair. This is easily the most common method of buying cryptocurrency, but other fiat-to-coin trading pairs are not supported on most exchange platforms.
Why is this a problem? In most cases, traders are unable to purchase their preferred coin with their fiat currency. Usually, BTC is bought as an intermediate before trading for the desired altcoin. The same goes for cashing out. Turning your cryptoassets in to fiat follows this same measure. This is not the most advantageous process for investors for a number of reasons:
- It is excessively slow — using an intermediate is obviously going to take more time, but often it is not as simple as making two trades. Due to the lack of exchange options in my countries, traders have to use one exchange to buy BTC before transferring it to an exchange with the needed trading pair. A reversal of this process is required to cash out.
- It can be expensive — the volatility of the cryptomarket means prices can fluctuate wildly in just a matter of minutes. BTC is capable of dropping 2–5% in value in one hour. Traders holding bitcoin before their altcoin trade can lose significant assets due to this intermediary process. Some exchanges also charge fees for transferring cryptocurrency to another exchange.
- It ties altcoin value to BTC — as there are only a few options for entry and exit to the market (usually BTC, sometimes ETH, LTC), altcoins will be majorly affected by the fortune of the these dominant coins. When BTC price falls, altcoins are highly likely to fall, too. The lack of fiat-to-coin trading pairs straps altcoins on the BTC rollercoaster.
- Hard to keep funds secure — simply put, the greater the movement of assets, the greater the risk.
It’s important to keep liquidity in mind when creating fiat-to-coin trading pairs. Introducing a new pair for which there is no demand can discourage traders and leave your platform suffering from low liquidity.
With that in mind, a new exchange recently launched in Vietnam called FinanceX. We plan to introduce new fiat-to-coin trading pairs one step at a time.
The launch of FinanceX in Vietnam will allow traders to use VND to buy a range of coins. Before the end of 2018, FinanceX will open exchanges in Indonesia, Malaysia and the Philippines, prior to expanding in to Southeast Asia and the Asia-Pacific region.
New fiat-to-coin trading pairs will be available with the introduction of each new exchange creating an interexchange network favoring high liquidity.
What is FinanceX?
FinanceX exchange is a convenient, reliable and secure platform focusing on providing fiat-to-coin and coin-to-fiat trading pairs saving you time and money. Now Southeast Asian traders have direct access to their preferred cryptocurrency with quick cash-out.
Since launching, thousands of traders are registering on the FinanceX exchange at an exponential rate as word gets out about a superior trading platform in the region.
The FinanceX vision? To become the largest cryptocurrency exchange in Southeast Asia, and to firmly place themselves in the Top 10 in the Asia-Pacific region inside 3 years.
Unlike other startups who pitch their ICO’s on an idea, FinanceX have a functioning and proven product. FinanceX is developed on the trading core at the heart of the second biggest stock exchange in Vietnam, HNX, Hanoi Stock Exchange.
The trading core was developed by Chien Tran, a FinanceX co-founder, and his company, Navisoft, back in 2007. It took almost 2 years to create and has experienced 11 years of successful application.
FinanceX exchange has many payment methods, rapid deposits and withdrawals, and low trading fees (0.3%) with a transparent fee structure.
Trades are completed automatically in real-time at high speed with a user interface that is modern and intuitive. Customers never have to worry with a real-time monitoring system and 24/7 support.
FinanceX will release FNX Token, the official trading currency on the FinanceX crypto exchange. FNX Token is developed on the Ethereum blockchain technology base — ERC 20.
FNX will continuously increase in value as we open new markets in the region. Creating an interexchange network between countries in the Asia-Pacific region will be advantageous to users generating high liquidity and shaping an attractive playground for trading.
ICO begins on in November offering generous discounts to those fortunate enough to have discovered us early.
In 2019, FinanceX will build towards decentralization when their platform is used for a variety of purposes with the addition of new services in the future.
FinanceX wants to be as transparent as possible to ensure user confidence and to build strong relationships now and in the future. Comprising of experts with over 20 years of experiences in the financial industry, information technology, and stocks exchange, traders can trust the the FinanceX team to provide a superior product that ticks all the boxes.
#FinanceX #FNX
For further information, please visit:
★ Telegram ★ Facebook ★ Twitter ★ Reddit ★ Medium ★ Youtube ★
FinanceX — Exchange Made Simple.
