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Buy and Sell AUDX on eToroX Cryptoasset Exchange
AUDX is the tokenized stablecoin of the Australian Dollar (AUD), launched in 2019 by eToro and listed on eToroX crypto exchange. This is yet another example of the vision of eToroX to open up the global markets to all, a big part of which is taking the traditional financial markets into the world of cryptocurrency.
The AUDX exchange on eToroX provides an avenue to trade the AUD against similar stablecoins, such as the USD and EURX. AUDX can also be used to trade other conventional cryptocurrencies.
Trading AUDX on eToroX offers:
- The ability to trade the same market fundamentals that affect the Australian Dollar’s value, such as the price of gold and Chinese GDP data
- Trading with a company with a solid track record, running an exchange from the only country where cryptocurrencies are regulated within a well-defined and market-specific framework
- Easy interchange with conventional cryptocurrencies such as Bitcoin and Ethereum
You also benefit from professional customer support. The team behind the exchange can be reached easily and are trained to provide a dedicated service.
Learn about AUDX Exchange
Conventional cryptocurrencies can sometimes be volatile, and less suitable as a store of value. As with any investment, it is not always clear when profits made trading cryptos will increase or decrease in value from one day to the next. Stablecoins reduce this volatility factor. AUDX is a stablecoin that bridges the traditional forex asset and merges it with the cryptocurrency space. Some features and benefits of the two can therefore be merged for the ultimate benefit of the trader.
What benefits can you get when you buy or sell AUDX?
- Combine the privacy and anonymity of crypto trading with the ability to get stable pricing and manageable volatility
- Follow the news that moves the Australian Dollar and trade AUDX accordingly
- Trade AUDX against other stablecoins, much like when trading Australian Dollar pairs in forex
Recently, opportunities for trading Australian Dollar pairs arose in response to key data from Australia, including retail sales, interest rate decision and the employment change. Australia also exports a lot of raw materials to China to service its industries, therefore data regarding Chinese manufacturing and economic growth is also likely to impact AUDX and provide trading opportunities. This is data that has great market impact on the AUD, and similarly also on the AUDX.
The above content is for informational purposes only and should not be construed as financial or any other type of advice. All trading involves risk of capital loss. Digital Assets trading also involves additional special risks not generally shared with official currencies, goods or commodities. For more information on the risks please refer to our Risk Disclaimer.