Which Fiat Currencies can you trade in exchange for Bitcoins?
Today’s world has become more focused on the benefits and positive aspects of digitalization. The monetization ecosystem has been changing ever since the invention of the best digital currency in the world, Challenges Of Brexit. Bitcoins’ high blockchain technology development has led to its high demand in the cryptocurrency trade market. People are going gaga over these digital cryptocurrencies because of their firm beliefs on blockchain technology’s progress and security factors with a tint of cryptographic problems.
Millions of people have started investing a high amount of money in bitcoins to earn millions of dollars as profitable returns. The increasing acceptance of bitcoins in various federal and private sectors has brought high demand for cryptocurrencies like bitcoins. If you are a firm believer in the digitalization of currencies, you can invest your assets in Bitcoin Era, one of the bitcoin trading platforms. The following article will help you figure out which fiat currencies you can use for funding purposes to get bitcoins!
What are various Fiat Currencies that you can use for funding?
If you want to invest or trade in bitcoins, then your first target should be to buy bitcoins from the trade market. However, you need to choose a trading platform, sign up for that and finally fund your digital wallet with various fiat currencies via online transfer or debit card used for getting your hands on your digital assets, as in, Bitcoins!
Here are some of the fiat currencies that are being widely invested in Bitcoin.
If you talk about fiat currencies to invest in buying Bitcoins, then USD would be the first name to pop up in your mind. If you do thorough research and check out different survey results, it would take you no time to figure out that almost 85% of the total transactions in the cryptocurrency trade market are based on US Dollars.
You might be thinking of the possible reasons behind such happenings. Is that when Bitcoins started gaining popularity in the cryptocurrency trade market, most people in America took a high interest in the bitcoin investments. Thus, today, the fiat currency ranks first on the list!
JYP, or Japanese Yen, ranks second in the fiat currencies used to buy bitcoin in the present trade market. Japan people were one of the top investors in bitcoins when Satoshi Nakamoto first launched it. Japan used to rank number one in the trade market regarding bitcoin investments. However, years later, China started banning various cryptocurrency trading platforms, taking no steps or interest in stepping into the world of digitalization.
All these events somewhere affected Japanese bitcoin investors badly. But the Chinese bitcoin trading platforms eventually shifted to Japan, which made the fiat currency of Japan secure the second position after the USD in the list of fiat currencies used for buying Bitcoins. Now Yen has got 5% of the total bitcoin market share in today’s world!
Another important fiat currency that you can buy bitcoins is none other than Euro or EUR. This fiat currency holds about 4.75% of the market share in bitcoin trading and ranks third on the list. However, various crypto enthusiasts say that Euro could have organized better but for the countries present in Europe who have rigid thoughts regarding bitcoin investments. However, several countries like German and Netherlands have taken several initiatives to raise the utilization of bitcoins and acceptance of digital currencies as signs of modernization!
Korean WON ranks fourth in the market of bitcoins trading in terms of fiat currency investments. WON had been embarking towards the first rank back in 2017. Still, soon later, the government bodies and crypto radiators interfered in the success and banned several trading platforms as they did not want to entertain bank less transactions. However, a few years later, the finance minister declared that he did not want to destroy the bitcoin trade market in South Korea. Thus, Korea was the first country to take the initiative to make separate cryptocurrency laws to better Bitcoin utilization.
Besides the above fiat currencies, several other fiat currencies are in constant competition topped the fiat currency list in the 21st century. However, China stands rigid on its banning policies!