As I'm always trying to produce educational crypto content, I thought I'd write this post up explaining how trading against BTC, ETH (or BNB on Binance) works.
The idea behind this post came about when a friend had asked me how to trade coins against other coins as opposed to with stablecoins. An example of this would be trading LINK for BTC. At the time of writing this, the value is "0.00120532."
Now if you're like me when I first started trading crypto, you're probably wondering what that number means and how that number's derived.
I don't blame you as numbers like that are obscure and not very concrete.
Having said that, I've created this short 4 minute video explaining why coins are traded against other coins besides stablecoins, and how these numbers are derived.
I hope that the video was able to give you a better understanding of why coins are traded against coins and how those numbers are derived.
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