Cryptocurrency Q&A
What currency is Bidr?
What currency is Bidr?
Dario
Mon Aug 19 2024
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7 answers
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Could you please clarify for me what currency is Bidr exactly? I've heard of various cryptocurrencies, but I'm not familiar with Bidr specifically. Is it a decentralized digital currency like Bitcoin or Ethereum? Or is it more akin to a stablecoin, pegged to the value of a traditional fiat currency? Could you provide some background information on its origins, purpose, and how it functions within the cryptocurrency ecosystem?
7 answers
Ilaria
Wed Aug 21 2024
The stablecoin is issued in a 1:1 ratio with the Indonesian rupiah, meaning that 1BIDR is equivalent to 1IDR. This ensures that the value of BIDR remains stable and predictable, making it an attractive option for those looking to invest in digital currencies without the risk of volatility.
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SolitudePulse
Wed Aug 21 2024
BIDR, also known as BinanceIDR, is a stablecoin that is designed to maintain a stable value relative to the Indonesian rupiah (IDR). It is a digital currency that is pegged to the IDR, providing users with a reliable and stable alternative to traditional fiat currencies.
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SsangyongSpirit
Wed Aug 21 2024
The creation and support of BIDR is a collaborative effort between Binance, one of the largest cryptocurrency exchanges in the world, and Tokocrypto, a regulated digital currency exchange operating in Indonesia.
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JejuJoyfulHeartSoul
Tue Aug 20 2024
Another notable aspect of BIDR is its connection to BTCC, a top cryptocurrency exchange that offers a wide range of services to its users. BTCC provides a platform for trading a variety of digital currencies, including BIDR, and also offers services such as futures trading and cryptocurrency wallets.
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Alessandra
Tue Aug 20 2024
The stability of BIDR is achieved through a combination of factors, including the backing of the Indonesian rupiah and the support of Binance and Tokocrypto. This ensures that the value of BIDR remains closely tied to the value of the IDR, providing users with a reliable and stable digital currency option.
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