What is the difference between CNY and CNH in cryptocurrency trading?

3 answers

• Dec 27, 2021 · 3 years ago
  CNY and CNH are both currencies used in cryptocurrency trading, but they have different roles and implications in the market. CNY refers to the Chinese Yuan, which is the onshore currency of China. It is regulated by the People's Bank of China and can only be used within mainland China. On the other hand, CNH refers to the offshore Chinese Yuan, which is traded outside of mainland China. It is freely convertible and can be used in international transactions. In cryptocurrency trading, CNY is often used for trading within China, while CNH is used for trading outside of China. The difference between CNY and CNH can have an impact on the liquidity and volume of trading in different markets.
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• Dec 27, 2021 · 3 years ago
  CNY and CNH are two different versions of the Chinese Yuan. CNY is the onshore version, which is used within mainland China, while CNH is the offshore version, which is used outside of mainland China. The main difference between the two is the convertibility. CNY is not freely convertible, meaning it is subject to strict regulations by the Chinese government. On the other hand, CNH is freely convertible and can be traded on the international market. In cryptocurrency trading, CNY and CNH can have different values and exchange rates, which can create arbitrage opportunities for traders.
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• Dec 27, 2021 · 3 years ago
  CNY and CNH are two different currencies used in cryptocurrency trading. CNY is the official currency of China and is used within mainland China, while CNH is the offshore version of the Chinese Yuan. The main difference between the two is the convertibility. CNY is not freely convertible, meaning it cannot be freely traded on the international market. CNH, on the other hand, is freely convertible and can be traded on the international market. In cryptocurrency trading, the difference between CNY and CNH can affect the liquidity and volume of trading in different markets. Traders need to consider the exchange rates and regulations associated with each currency when conducting cryptocurrency transactions.
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