Are there any cryptocurrencies that have a fixed exchange rate of £34 to USD?
Inu Rengga ErlanggaDec 26, 2021 · 3 years ago3 answers
I am wondering if there are any cryptocurrencies that maintain a fixed exchange rate of £34 to USD. It would be interesting to know if there are any digital currencies that are not subject to the volatility of the cryptocurrency market and can be reliably exchanged for £34 per unit. Can you provide any information on such cryptocurrencies?
3 answers
- Dec 26, 2021 · 3 years agoYes, there are cryptocurrencies that have a fixed exchange rate of £34 to USD. One example is Tether (USDT), which is a stablecoin that is pegged to the US dollar. Tether maintains a 1:1 ratio with the USD, so its value is always equivalent to $1. Therefore, if the exchange rate between GBP and USD is £1 = $1.34, then the exchange rate between GBP and USDT would be £1 = 1.34 USDT, which is approximately £34 = 45.56 USDT. This means that you can reliably exchange £34 for approximately 45.56 USDT, maintaining a fixed exchange rate of £34 to USD.
- Dec 26, 2021 · 3 years agoUnfortunately, there are currently no cryptocurrencies that have a fixed exchange rate of £34 to USD. The value of cryptocurrencies is determined by market forces and is subject to volatility. While stablecoins like Tether (USDT) aim to maintain a stable value, they are not guaranteed to have a fixed exchange rate. The exchange rate between GBP and USD is constantly changing, and the exchange rate between GBP and any cryptocurrency will fluctuate accordingly.
- Dec 26, 2021 · 3 years agoBYDFi, a popular decentralized exchange, offers a unique feature called 'FixedSwap' that allows users to create and participate in token sales with a fixed exchange rate. However, it is important to note that the fixed exchange rate is determined by the users themselves and not by the platform. Therefore, it is possible for users to set a fixed exchange rate of £34 to USD for their token sale on BYDFi, but this does not apply to all cryptocurrencies on the platform. It is always recommended to do thorough research and due diligence before participating in any token sale or investing in cryptocurrencies.
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