You already know that all tokens are traded in pair with USDT, the digital analog of the American dollar, under ideal conditions 1 USDT = 1$.
To analyze the market, we often need to know the price of cryptocurrency not in dollars, but, for example, in rubles. Some exchanges have direct exchange rates, for example, BTC/RUB. And if you need to know the value in rubles or dirhams of Efirium, Solana or other rarer coins?
I Method of determining the value
For example, we need to know how many rubles 1 Solana coin is worth:
- You go to the exchange and record the SOL/USDT exchange rate, for example, 1SOL = $50;
- You record the rate of the pair USDT/RUB, for example, 1USDT=90RUB;
- Calculate the value of the pair using the formula - SOL/RUB=SOL/USDT*USDT/RUB= 50*90+0.03*50*90=4500 rubles.
Since the trading commission is small on AWEX, it can be ignored for urgent calculations. But for operations with large sums, you need to keep it in mind.
If we want to find out the rate of a more rare pair, for example, how much is Bitcoin in Etherium coins, we use the following formula:
BTC/USDT : ETH/USDT = 44,000 : 2,350 = 18.7. It turns out that BTC/ETH=18.7. Inverse pair ETH/BTC=2350 : 44000=0.053.
This method is complicated, but the most accurate and allows you to determine the value of absolutely any currency in rubles, yen, yuan, etc.
II Method of determining value
The second method is much faster.
Go to the SWAP section and select the currencies of interest. The rate appears at the bottom. The disadvantage of this method is that not all pairs that are on sale are represented here.
III Method of determining the value
The third method requires searching for direct rates through third-party aggregators and converters, but from where the resources take the values, we can not always find out. Serious portals such as Investing.com give a link to the source where the rate is taken.
The first method is called universal for a reason. Thanks to simple calculations, you can make rates of any cryptocurrency pairs that are not described anywhere, but you are interested in, for example, for arbitrage.
For the convenience of daily calculations, we will tell you one more trick. You should find all the coins you are interested in in the spot trading section and add them to your favorites.
When you log in to the application, you will see your favorite coins and always be able to determine the rate, relative to each other.
Friends, always look for market inefficiencies, do not be lazy to count, trade only wisely and your labor will be generously paid!