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What is a currency and how is it used?

Currency is simply one, tangible form of money. Money is used in a variety of ways, all related to its future use in some kind of transaction. For example, money is a store of value. This means that it has and maintains a certain value that supports ongoing exchanges.

Is money a currency?

Money can be something determined by market participants to have value and be exchangeable. Money can be currency (bills and coins) issued by a government. A third type of money is fiat currency, which is fully backed by the economic power and good faith of the issuing government.

What is a currency & why is it important?

Currency can be termed as that money that brings the latter to life. Currency must be in circulation to be traded and grow. At the same time, money is intangible and can be easily circulated anywhere. Currency has its limitations.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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