The suspension of 80 non-dollar trading pairs on Coinbase was done to improve liquidity and made a lot of news. As you know, Coinbase is one of the most popular exchanges in the world and has many users. You can learn more about the aspects and reasons for suspending non-dollar transactions in this exchange from the digital currency website.
Non-dollar transactions refer to transactions that take place in currencies other than the US dollar. In other words, in this type of transactions, the base currency of the foreign exchange transaction other than the dollar is used. For example, we can refer to transactions that take place using euros, pounds sterling, or other currencies. In some cases, non-dollar transactions can occur due to political, economic or financial restrictions or influences in different countries.
Coinbase exchange is one of the famous and reliable exchanges in the world of digital currencies. This exchange was established in 2013 and its headquarters is located in San Francisco, California. Coinbase allows its users to trade with digital currencies by providing services for buying and selling digital currencies, including Bitcoin, Ethereum, Litecoin, etc.
Coinbase is known as an authentic and reliable exchange and provides high security for its users’ transactions. In fact, this exchange uses advanced risk management systems to prevent fraud and theft. In addition, Coinbase offers its users facilities such as a digital wallet, charting and educational tools, price charts and market information.
By trading in non-dollar pairs, you will have access to more variety and scope in your trades. This allows you to invest in different markets and currencies and take advantage of various opportunities. If you do all your transactions in US dollars, you will bear a risk called currency risk.
By trading in non-dollar pairs, you can reduce this risk and protect yourself from falling currency prices. Although the US dollar is used as the main trading currency, other markets also offer profitable opportunities.
By trading in non-dollar pairs, you can take advantage of profitable opportunities in other markets and increase your profits. By trading in non-dollar pairs, you can improve risk and have more diversity in risk management. This allows you to better manage the risks associated with a currency.
By trading in non-dollar pairs, you will have access to global markets. This allows you to be aware of the trends and developments of global markets and take advantage of international opportunities. In general, trading in non-dollar trading pairs can bring you diversification, risk protection, profitable opportunities, better risk management and access to global markets.
Crypto exchange Coinbase has removed dozens of trading pairs in an effort to improve liquidity on its platforms. Coinbase has suspended 80 non-dollar trading pairs, including those involving cryptocurrencies such as Bitcoin, stablecoins such as Tether, and fiat currencies such as the euro.
Announcing the news on October 16, Coinbase said the removal of trading pairs is aimed at improving the overall health of the market and stabilizing liquidity. These trading pairs were removed from the Coinbase exchange and other platforms as at 19:30 on October 16. The latest removal of trading pairs on Coinbase is in line with the exchange’s plans to suspend markets announced in early October.
Coinbase emphasized that users of the affected platforms can conduct their transactions using the exchange’s dollar balances. Coinbase has been researching improving the liquidity of trading pairs for some time. In mid-September, the exchange removed 41 other non-dollar markets citing similar reasons.