What is the impact of the CHF symbol on the cryptocurrency market?

3 answers

• Dec 15, 2021 · 3 years ago
  The CHF symbol, which represents the Swiss Franc, has a limited impact on the cryptocurrency market. Since the CHF is a fiat currency and not directly linked to cryptocurrencies, its influence is mainly seen in the trading pairs involving CHF and cryptocurrencies. Traders who wish to buy or sell cryptocurrencies using CHF can do so through exchanges that offer CHF trading pairs. However, the overall impact of the CHF symbol on the cryptocurrency market is relatively small compared to major fiat currencies like USD or EUR.
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• Dec 15, 2021 · 3 years ago
  The CHF symbol doesn't have a significant impact on the cryptocurrency market. Cryptocurrencies are primarily traded against major fiat currencies like USD, EUR, and JPY. The CHF symbol is mainly relevant for traders who are interested in trading cryptocurrencies with Swiss Franc. However, the trading volume and liquidity of CHF trading pairs are generally lower compared to other major fiat currencies. Therefore, the impact of the CHF symbol on the overall cryptocurrency market is limited.
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• Dec 15, 2021 · 3 years ago
  The CHF symbol plays a role in the cryptocurrency market through its availability as a trading pair on certain exchanges. For example, BYDFi offers CHF trading pairs for various cryptocurrencies. This allows traders to directly exchange cryptocurrencies with CHF. However, it's important to note that the trading volume and liquidity of CHF trading pairs may be lower compared to other fiat currencies. Therefore, the impact of the CHF symbol on the cryptocurrency market is relatively minor.
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