How does HKD relate to digital currencies?

3 answers

• Nov 26, 2021 · 3 years ago
  The Hong Kong Dollar (HKD) is a fiat currency issued by the Hong Kong Monetary Authority. It is not directly related to digital currencies such as cryptocurrencies. However, some cryptocurrency exchanges may offer trading pairs with HKD, allowing users to buy and sell cryptocurrencies using HKD. In these cases, the exchange rate between HKD and the digital currency will determine the value of the transaction.
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• Nov 26, 2021 · 3 years ago
  HKD is a traditional currency used in Hong Kong, while digital currencies are decentralized and operate on blockchain technology. Although there may be some interactions between HKD and digital currencies in terms of trading pairs on certain exchanges, they are fundamentally different in nature. Digital currencies are not controlled by any central authority, while HKD is regulated by the Hong Kong government and the Hong Kong Monetary Authority.
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• Nov 26, 2021 · 3 years ago
  BYDFi, a digital currency exchange, offers trading pairs with HKD for various cryptocurrencies. Users can easily convert their HKD into digital currencies or vice versa on the platform. This provides a convenient way for individuals in Hong Kong to participate in the digital currency market. However, it's important to note that the value of digital currencies can be highly volatile, and investors should exercise caution when trading.
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