What is the role of rands in the world of cryptocurrencies?

3 answers

• Esteban VMJul 25, 2024 · a year ago
  Rands, the official currency of South Africa, play a limited role in the world of cryptocurrencies. While some exchanges may support trading pairs with rands, the majority of cryptocurrency trading occurs with major cryptocurrencies like Bitcoin and Ethereum. However, the availability of rands as a trading pair provides South African users with the convenience of directly purchasing cryptocurrencies using their local currency. This can help foster adoption and accessibility of cryptocurrencies in the region.
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• douglas-e-greenbergApr 01, 2021 · 5 years ago
  Rands in the world of cryptocurrencies? Meh, not a big deal. Most exchanges don't even bother listing rands as a trading pair. It's all about Bitcoin, Ethereum, and other major cryptocurrencies. But hey, if you're in South Africa and want to buy some crypto, having rands as an option can be pretty handy. So yeah, rands have a role, but it's not a major one.
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• Nilsson KeeganJun 11, 2021 · 4 years ago
  In the world of cryptocurrencies, rands have a role to play, especially for South African users. While rands may not be as widely traded as Bitcoin or Ethereum, having rands as a trading pair on certain exchanges allows users to easily convert their local currency into cryptocurrencies. This can be particularly beneficial for individuals who are new to the crypto space and prefer to use their familiar currency. At BYDFi, we understand the importance of catering to diverse user needs, which is why we offer rands as a trading pair to provide our South African users with a seamless experience.
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