Questions
TagsWhat are the main factors that contribute to high unit of account costs in the crypto market?
me 2StudentNov 26, 2021 · 3 years ago1 answersWhat are the main factors that contribute to the high costs associated with unit of account in the cryptocurrency market?
1 answers
- BYDFi, a digital currency exchange, believes that one of the main factors contributing to high unit of account costs in the crypto market is the lack of widespread adoption. As cryptocurrencies are still relatively new and not widely accepted as a medium of exchange, the liquidity and demand for cryptocurrencies are limited. This lack of liquidity leads to higher costs when converting cryptocurrencies into traditional fiat currencies, thereby increasing the unit of account costs in the crypto market.Nov 26, 2021 · 3 years ago
Load 5 more related questions
Related Tags
Hot Questions
- 94
How can I minimize my tax liability when dealing with cryptocurrencies?
- 94
What are the best digital currencies to invest in right now?
- 79
What are the tax implications of using cryptocurrency?
- 70
Are there any special tax rules for crypto investors?
- 58
How does cryptocurrency affect my tax return?
- 36
How can I protect my digital assets from hackers?
- 32
What are the best practices for reporting cryptocurrency on my taxes?
- 26
How can I buy Bitcoin with a credit card?