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What is BIDR coin and how does it work?

by Financial Economy

BIDR is a Rupiah-backed stablecoin issued by PT Digital Rupiah Indonesia. Supported 1:1 with Indonesian Rupiah. Especially after being listed on the world’s largest crypto money exchange Binance, it reached a large user base and made its name known. Information about some topics that what is BIDR coin, how does it work, how to buy it, on which exchange, how much is it, etc. is in continuation of the article.  You can browse here for information about Polkadex (PDEX) coin.

What is BIDR coin and how does it work?

BIDR is pegged to Indonesian fiat currency and runs on Binance Chain. Binance CEO Changpeng Zhao claims that this is the first stablecoin pegged to the price currency, and is possible thanks to the broad cooperation between the two exchanges.

BIDR coin reviews!

There are experts’ comments about BIDR, which is seen as one of the leading stablecoins in the cryptocurrency market. CZ, CEO of giant cryptocurrency exchange Binance, also said about BIDR Coin: “Stablecoins are an important channel for the diffusion of fiat money into the crypto ecosystem. BIDR is especially important in supporting our growing number of users who trade and buy cryptocurrencies with Indonesian Rupiahs.”

BIDR token advantages and disadvantages!

BIDR Coin advantages include:

  • Binance and Tokocrypto users can now trade BIDR against Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD), Tether (USDT), and Ether (ETH).
  • Users can directly purchase and redeem stablecoin at the rate of 1 Indonesian rupee each.

BIDR Coin disadvantages include:

  • As with other stablecoins, there are investment risks for BIDR Coin.
  • The BIDR coin held on exchanges or mobile wallets has a risk of being stolen by cyberattack.

Which exchange is BIDR coin on?

BIDR coin is listed on some cryptocurrency exchanges such as Hoo, Binance, etc.

How to buy BIDR coins?

BIDR coin can be purchased from listed cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.

BIDR coin supply!

Total supply of BIDR coin is 315.700.000.000 BIDR.

BIDR coin price!

As of May 23, 2022, at the time of the writing, 1 BIDR coin price is around $0,000068 (because of the volatility the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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