Cryptocurrencies were originally envisioned as a decentralized payment means, independent of fiat money rates and not tied to traditional valuable assets.submitted by bestchange_pr to bestchange [link] [comments]
This peculiarity adds cryptocurrencies a characteristic feature — high volatility of the rate. Many folks gain thanks to this feature, but the possibility that the rate can dramatically drop or leap hinders the usage of cryptocurrency as a full-fledge payment means.
In order to regulate the rate, it was decided to tie up cryptocurrencies to stable assets that have long been established in the economy. Thus, they began to tie up the value of cryptocurrency to fiat money, gold and oil. Digital currencies can be tied up to any valuable asset or commodity which can make their value more stable.
Cryptocurrencies pegged to physical assets have a lower rate volatility and became known as stablecoins. Stablecoins are a compromise between fiat money and cryptocurrencies.
Most often, the value of a stablecoin is pegged to fiat money. The value of these coins is equal to that of fiat currency and represents a sort of a promissory note. Every coin is leveraged to one unit of fiat money, for instance, dollar, which acts as a guarantee and provides for the value of the currency.
--- --- --- --- ---
We will briefly tell about the most popular stablecoins:
Tether (USDT) is the most famous stablecoin, and it is represented in the majority of exchanges. However, Tether Limited company which belong to Bitfinex crypto exchange, has regular problems with its audit. The main discontent is about issuing a colossal amount of USDT (equivalent to hundreds of millions of dollars) during the periods of bitcoin pumps. Anyway, the coin is stable and for the last 2 years it has been traded within the range of 0,96$ — 1,06$.
USD Coin (USDC) was created with the participation of the company that bought Poloniex crypto exchange in 2018. This is a classic stablecoin which is backed by dollar equivalent in relation of 1 to 1. The proof of the project’s transparency is its monthly audits performed by an independent party.
TrueUSD (TUSD) is a coin which is also backed by US dollar in relation of 1 to 1. Financial flows are regulated by trust companies, while the developers do not have access to accounts. TUSD is created on Ethereum platform, the work system is based on smart contracts. Reports are published monthly and they prove correspondence between issued coins are real funs in the company’s accounts.
Paxos Standard Token (PAX) is a stablecoin approved by Department of Financial Services of New York. It is backed by dollar equivalent in the relation of 1 to 1. PAX is also developed on Ethereum platform. We have recently added this token to our monitoring BestChange.com
Dai (DAI) is an unusual stable coin. Its value is backed not by an account with an equivalent amount in US dollars, but by a system of guarantees from several famous and specially created cryptocurrencies. Its advantage is decentralization.
--- --- --- --- ---
It’s worth noting that Binance exchange, a leader by the trade volume, is going to issue its own stable coins within the coming two months. The management of the exchange says they are planning to launch stablecoins pegged to various currencies. According to them, from the user’s point of view, dollar is used only in several parts of the world, while other users use different currencies. They think that this must be reflected in their stablecoins
--- --- --- --- ---
What do you think about the future of new stablecoins from Binance and how would they influence today’s leader Tether?
Binance is planning to launch new types of tokens with values pegged to Bitcoin (BTC), and in the future, to other leading coins. The reason for pegging assets to other coins is the need to trade ... As per the announcement, the newly-released BEP2 token will probably be exchanged on Binance and are also around on its own de-centralized counter-part Binance DEX. What’s more, this advantage is just one among a streak of cryptocurrency-pegged tokens that the business plans to release Binance Chain. The article says that BTCB are 100% supported by […] Binance, one of the largest cryptocurrency exchanges by volume, is issuing a bitcoin-backed token, the firm announced in a blog post on Monday.The post Binance launches bitcoin-pegged token on ... Binance desires to have more cryptocurrencies transitioning to its Binance Chain protocol. One of the initial tokens will be a Bitcoin-pegged token that will have the symbol BTCB in a few days ... Binance’s Token Issuance & Listings page said on October 17 that the platform was preparing “to list BCH-1FD, a pegged token that tracks the value of the native asset of the Bitcoin Cash ... Popular cryptocurrency exchange Binance has announced it will be launching a Bitcoin-pegged token to be released on Binance Chain. The news was announced in a recent Binance blog post which ... Bitcoin is not a native asset of the Binance Chain, this is why the coin needed to be pegged to a specifically created token on the Binance blockchain. The company expects the liquidity and trading volume on the DEX to increase as new trading pairs are added on the platform.
[index]          
Binance Margin Trading Live 1:38:50 The Trump Dump Professional Mentors, Exclusive Signals and Setups, Custom Indicators & Strategies, Educational Material, and much more. $1.75 BILLION in Crypto Stolen Bitcoin Pegged ETH Token Binance Adds Visa + Mastercard - Duration: 5:54. BTC Sessions 992 views. 5:54. Language: English Location: United States ... Binance Has Been Hacked Jumping on live to discuss what is going on with the Binance Bitcoin Hack! #Binance #Bitcoin #Hack. Firstly, thanks for watching I appreciate your support! Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q Computer I Use To ... Binance.us Update!!! Tether launches gold and oil backed Stablecoin ----- Check out my other crypto channels: My other channels and subscrib... #Binance Launching New #Crypto Asset Pegged to #XRP Narrated by The Cryptocurrency Portal on Friday Oct. 4th, 2019 If you like this content, please consider subscribing to our channel: https://www ... #Binance Reveals Visa Debit Card in Push to Bring #Bitcoin (BTC) and #Crypto Payments Worldwide Narrated by The Cryptocurrency Portal on Sat. March 28th, 2020 👌If you like this content, please ...