How does the term 'gon' relate to digital currencies in Japan?

3 answers

• Dec 17, 2021 · 3 years ago
  Certainly! The term 'gon' is actually short for 'Yen' in Japanese. In the context of digital currencies, it refers to the Japanese Yen being used as a base currency for trading cryptocurrencies. Many cryptocurrency exchanges in Japan offer trading pairs with the Yen, allowing users to buy and sell cryptocurrencies using their national currency. This makes it easier for Japanese investors to enter the cryptocurrency market and trade with familiar currency. The term 'gon' is commonly used by traders and enthusiasts in the Japanese cryptocurrency community.
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• Dec 17, 2021 · 3 years ago
  The term 'gon' is a slang term used by cryptocurrency traders in Japan to refer to the Japanese Yen. It's similar to how 'bucks' is used to refer to the US Dollar. In the Japanese cryptocurrency market, you'll often see trading pairs like BTC/JPY or ETH/JPY, where JPY represents the Japanese Yen. So when people say 'gon', they're simply referring to the Yen. It's a convenient and informal way to talk about the Japanese currency in the context of digital currencies.
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• Dec 17, 2021 · 3 years ago
  As an expert at BYDFi, I can tell you that 'gon' is a term commonly used in the Japanese cryptocurrency market. It refers to the Japanese Yen and its role as a base currency for trading cryptocurrencies. Many Japanese investors prefer to trade with the Yen as it provides a familiar and stable currency for their transactions. The term 'gon' has become popular among traders and enthusiasts in Japan, and you'll often see it being used in discussions and analysis of the Japanese cryptocurrency market.
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