🤔What are the main cryptocurrencies used in international trade🤔
The main cryptocurrencies used in international trade include:
1. Bitcoin (BTC): The first and most well-known cryptocurrency, often considered a store of value and widely accepted in international transactions.
2. Ethereum (ETH): Recognized for its smart contract platform, Ethereum is used in various decentralized applications and as a means of exchange in trade.
3. Tether (USDT): A stablecoin pegged to the US dollar, used to facilitate transactions and as a safe haven in volatile markets, especially in international trade.
4. Ripple (XRP): Designed to facilitate fast and low-cost transfers between financial institutions, XRP is used in international trade for cross-border payments.
5. Litecoin (LTC): With a faster transaction time than Bitcoin, Litecoin is used in some commercial transactions for its efficiency.
6. Bitcoin Cash (BCH): A fork of Bitcoin, BCH focuses on being an efficient means of exchange and is used by some merchants in international transactions.
7. Binance Coin (BNB): Used on the Binance platform, BNB is also being adopted in various commercial transactions and payments.
8. Stellar (XLM): Designed to facilitate money transfers and payments between different currencies, Stellar is used in international trade, especially in developing countries.
These cryptocurrencies are chosen for their ability to make fast, low-cost transactions and their growing acceptance globally, making them viable options for international trade.