Cryptocurrency Q&A
What is pips in Binance?
What is pips in Binance?
Claudio
Mon Aug 19 2024
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7
answers
1401
I don't understand this question. Could you please assist me in answering it?
7 answers
HanRiverVisionary
Wed Aug 21 2024
In the realm of cryptocurrency trading, the concept of pips plays a crucial role in determining profit or loss. A pip, or percentage in point, represents the smallest change in value that a currency pair can make.
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DondaejiDelight
Wed Aug 21 2024
For instance, when we consider the BTC/USDT pair, every incremental move in the value of Bitcoin against Tether is measured in pips.
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EmilyJohnson
Wed Aug 21 2024
Suppose the BTC/USDT pair transitions from 25,000 to 25,100. This signifies an appreciation of 10 pips, indicating a notable increase in the value of Bitcoin relative to Tether.
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CryptoAce
Wed Aug 21 2024
Conversely, if the pair shifts from 25,000 to 25,050, it means a movement of 5 pips, reflecting a smaller but still discernible change in the value of Bitcoin.
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SsamziegangStroll
Tue Aug 20 2024
Understanding the pips value is essential for traders as it directly correlates to their potential earnings or losses in a trade.
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