BTC Market 101 – REDi_official
Hello supporters,
REDi went on Huobi Korea BTC market for the first listing in August 2019.
BTC market is not much intuitive compared to the currency market. This is one reason which impedes people to trade on BTC market.
Let’s see how BTC market works.
BTC= Bitcoin
USD= United States Dollar(currency)
For example, REDi token is 0.0015 USD and BTC is 10,000 USD.
What is the price of REDi token in BTC market?
0.0015USD / 10,000USD = 0.00000015 BTC
Thankfully, we don’t have to calculate the currency price every time. On BTC market page, the exchange nicely provides the currency price for you.
If we apply the same math to the price in the above image, BTC price would be 12,000,000 KRW. The math is quite simple however the price of Bitcoin is fluctuating very often.
We have another case.
James bought 10 dollars of BTC, and then purchase 5,000 REDi coin. After he purchased REDi coin, the price of REDi coin drops from 0.00000012 BTC to 0.00000011 BTC. James checks his asset value. Surprisingly his asset ( 5,000 REDi coin) is increased in the currency value.
This confusing situation happens because the price of BTC and the price of the token both affect the asset value. In this case, the increase in the price of BTC is larger than the decrease in the price of REDi coin. The price of REDi coin drops by 8%, and the increase in the price of BTC is larger than 8 %. As a result, the value of James’ asset could increase.
BTC market could be tricky at first, but once you understand the nature of the market. It’s not so difficult to use it. BTC market is commonly used in the top-tier global exchanges especially for international users. Hope this article helps you feel more comfortable with BTC market.
Stay tuned, and if you like what we are doing, please show us your support by clicking like or sharing this news to the greater community!
Published at Tue, 17 Sep 2019 06:56:19 +0000
Bitcoin Pic Of The Moment
✅ This image from Marco Verch (trendingtopics) is available under Creative Commons 2.0. Please link to the original photo and the license. 📝 License for use outside of the Creative Commons is available by request.
By trendingtopics on 2019-04-03 20:32:54
