By “Market” we indicate in which currency we measure our investment.
Market is our unit of measure, your measure of value. Eg: How much is EUR or USD worth of Bitcoin (BTC)? but how much is Bitcoin worth Litecoin (LTC) or Ethereum (ETH)? From the possible Marketo’s, choose the one that suits you.
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If in everyday life we mainly use e.g. EUR, then we see and measure our revenue and expenses in EUR. We get paid in EUR, we pay invoices in EUR, in shops we pay in EUR, etc. In this way, we are set up with the currency value system in EUR, we perceive it as “our” monetary unit, our Market
When we travel to USA for example, we need US Dollar because people who live in USD area – use USD. At that time, we have to exchange EUR into USD, but when we pay for lunch in USD, we try to get the impression whether it is expensive or cheap, we still transform that cost into EUR, because EUR is our intimate Market. There are many currencies in the world, crypto currencies have now emerged. In this case, there are relationships between the two (EUR in USD, YEN in CHF, Croatian Kuna to Zambian Kwacha, BTC: USD, …). What should I choose for myself?
If your life is predominantly related to the EUR, then this should be your Market. So you want to measure the investment (value, growth, decline) in EUR, then we say colloquially that you are in the “fiat world”, because EUR is one of the so-called fiat currencies. In this case, you compare all investments, their growth or decline in EUR. Eg: BTC fell against EUR, ETH increased against EUR, we bought something for 100 EUR, later sold for 105 EUR, profit is 5 EUR (because EUR is our Market).
However, if you have decided that you believe in the development of crypto currencies, and plan to be a long-term investor in crypto, then your Market would be for example Bitcoin – at this moment leading crypto currency among crypto assets. With BTC you will buy, sell other crypto assets and also some fiat currencies, in BTC you will measure the performance of your management (because BTC is your Market). So for this purpose you have made the transition to the “crypto world” and as long as you only operate with crypto currencies (BTC and others) you will remain there.
On the other hand, you still pay for consumer goods (housing, food, fuel) in EUR. With PalmaBot you can easily sell (exchange) on the selected exchange (Stock Exchange) some BTC to EUR, e.g. you deposit into a bank account and pay with EUR, which you need, but with the majority you remain in crypto and are subject to the movement of the crypto market (because BTC is your Market and BTC is a crypto currency).
As we can see, the world is big and diverse. There are relationships everywhere. All we have to do is answer the question which relationships and “unit of measure” fits us.
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