Although cryptocurrency volatility may represent an excellent earning opportunity, it lacks the security of legal tender. The price fluctuations make crypto unsuitable for day-to-day payments. In 2014, an antidote to BTC volatility was introduced in the crypto market.
The new token was supposed to be fairly stable so it was named after its primary feature — a stablecoin. Stablecoins are cryptocurrencies whose value is pegged to traditional assets. Those assets could be fiat currencies — USD, GBP, or EUR, or commodities such as oil, gold, or silver.
Stablecoins track the value of the asset they’re pinned to, and are therefore resistant to unpredictable price changes in the crypto market. Stablecoins’ stability allows them to be used beyond trading and investing. As a token holder, you can use these altcoins in various real-world situations.
With them, you can save both money and time. Stablecoins spare you from wasting your money on exorbitant fees when changing one fiat currency into another. They save your time you would typically waste on cross-border transfers, as they may take a few days to complete.
With stablecoins, not only are fees for such transfers minimal, but they are also finished instantly. Why stablecoins? These altcoins can be used for everyday payments due to their stability.
The blockchain-based technology they use makes them pretty secure — double-spending transactions are impossible. They also help protect your portfolio against price fluctuations. Some of the stablecoins you can trade or invest in on the CEX.
IO platform include, but are not limited to, Tether (USDT), Binance Stablecoin (BUSD), Gemini Stablecoin (GUSD), Coinbase Stablecoin (USDC), PAX Gold (PAXG), AurusGOLD (AWG), and AurusSILVER (AWS). Visit CEX. IO for more!
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