Customer Balances
In the world of cryptocurrency, customer balances refer to the amount of money a customer has stored in their digital wallet. This is typically expressed as an asset balance and/or fiat currency balance.
Asset Balance: An asset balance refers to how much cryptocurrency – such as Bitcoin, Ethereum or another type – that a user owns at any given time. Asset balances can be checked by accessing the public blockchain associated with each particular coin or token using tools like Etherscan for Ethereum assets and Blockchain explorer for Bitcoin-based assets.
Fiat Currency Balance: A fiat currency balance is simply how much cash (USD, EUR etc.) you have on deposit in your crypto account which can then be used to buy more cryptocurrencies if desired. Fiat currencies are usually deposited via bank transfer into designated accounts held by exchanges where they are kept until withdrawn again as either cash or converted into different coins/tokens depending on what exchange services are available.
It’s important to remember that there may be other types of deposits associated with specific exchanges such as margin trading funds and loyalty points so it’s always best practice to check your individual platform before making large investments!
