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What means adding fiat trading pairs form Binance?
Editorial Team

Binance is the number one cryptocurrency exchange with the highest trading volume per day, around $2.11 Billion in daily trading. On Binance, the following crypto coins are trading in that order: Bitcoin (BTC), Ethereum (ETH), Tron (TRX), Ripple (XRP) and Zilliqa (ZIL).

Bitcoin with $330.47 Million in trade volume and when paired with USDT is leading the pack; Ethereum ranked second when paired with USDT with $90.6 Million and $88.55 Million when paired with Bitcoin.  Tron, Ripple, and Zilliqa have trade volumes of $88.3 Million, $84.362 Million, and $59.16 Million respectively and all paired with Bitcoin.

From above, it is easily concluded that the news about Binance adding fiat as an option in the selection of trading pairs, will bring much-anticipated action to the largest crypto exchange. This is because USDT (Tether), which is pegged to the US Dollar, is only paired with Cardano (ADA), Bitcoin Cash (BBC), Binance Coin (BNB), BTC, ETH, LTC, NEO, and QTUM. This means that if an investor is trading any other coin or token and the market starts to tank, he/she will have to trade to BTC then to USDT very fast to avoid losses.

As Binance now is trading 304 coins and tokens, a trader always has to rely on BTC, BNB or ETH as a “middle-man” coin, to stash his/her profits in USDT. Using these coins so, the investor loses time and is charged with an additional transaction fee to get to USDT.

In the recent December crash, investors in Bitfinex with its USD paired with all the coins and tokens on the exchange managed to avoid losses. When the crypto market dipped, the USD was not affected and investors could hold their loot safely in fiat as the crypto did all the “tumbling” in the markets, only needed on a transaction to be safely back to USDT.

 

 

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