You might be pretty familiar with the cryptocurrency markets, but sometimes stablecoins can still feel a bit elusive. They’re a type of cryptocurrency that are designed to reduce price fluctuations. It’s essentially a coin which has its value pegged to another asset, like fiat. We’ll be taking a look at how and why to buy stablecoins in 2020. Let’s dive in.
What is a stablecoin?
Most people imagine stablecoins as a coin that’s connected to fiat currency, like the US dollar. While this may be the case for some stablecoins like Tether (USDT) and TrueUSD (TUSD), it’s not true for all of them. You can create a stablecoin that’s pegged to pretty much any asset, including precious metals, other cryptocurrencies, or even a combination of the two.
Ultimately, the goal of a stablecoin is for it to be worth the same as the asset backing it. So, a stablecoin that’s pegged to the US dollar, will always have its value sit at around $1.
Why buy stablecoins?
A lot of people are enamored by the volatility of the cryptocurrency markets, but others find it pretty stressful. Maybe you fall somewhere in the middle: You’re a crypto-fanatic, but all of the volatility in the market gives you a headache.
Stablecoins allow you to stay in the crypto-game, while combating the (sometimes wild) price fluctuations that occur in this exciting industry.
Stablecoins also allow you to use fiat like crypto. They’re pegged to fiat, so it makes it pretty simple to invest USD on crypto exchanges. Stablecoins can also provide perspective to those unfamiliar with the way the cryptocurrency market works. Most people will want to compare crypto value to fiat prices, so they can use stablecoins to do so on exchanges that don’t support fiat.
Stablecoins also provide the security and low transaction fees that are indicative of the nature of the crypto asset market. Stablecoins are a great way to achieve fast and affordable transactions of fiat-like assets. You’ll have the speed and cheap transaction fees associated with crypto, and you’ll also know the value of the stablecoin you’re using is the same as the fiat (or other asset) that it’s linked to.
How to buy stablecoins
Tether (USDT) currently has a market cap of $4,129,579,780, the fourth largest according to CoinMarketCap (at the time of writing). TrueUSD (TUSD) has a market cap of $161,707,769 USD at the time of writing. They’re both doing pretty well at the moment. Luckily, getting in on the how and why to buy stablecoins in 2020, also provides you with some insight into the buying process on Vertex.Market, a peer-to-peer marketplace where users can launch their own offerings. You’ll find both of the stablecoins available on the marketplace, with some pretty fantastic deals. Simply sign up, and do your thing. No KYC necessary.
Why stablecoins?
Stablecoins were initially invented as a way to combat the volatility of the cryptocurrency markets, and they’re doing a pretty stellar job of fulfilling their purpose.
So, how and why to buy stablecoins in 2020? It’s pretty simple: you’ll be incorporating a solid digital asset into your portfolio, that is backed by a major asset, and you’ll still receive all of the perks that come with other cryptocurrencies (like low transaction fees and fast transaction speeds). Find offerings on Tether (USDT) here, and TrueUSD (TUSD) here.
https://medium.com/@official_83664/how-and-why-to-buy-stablecoins-in-2020-46212a6546ab
What is a stablecoin?
Most people imagine stablecoins as a coin that’s connected to fiat currency, like the US dollar. While this may be the case for some stablecoins like Tether (USDT) and TrueUSD (TUSD), it’s not true for all of them. You can create a stablecoin that’s pegged to pretty much any asset, including precious metals, other cryptocurrencies, or even a combination of the two.
Ultimately, the goal of a stablecoin is for it to be worth the same as the asset backing it. So, a stablecoin that’s pegged to the US dollar, will always have its value sit at around $1.
Why buy stablecoins?
A lot of people are enamored by the volatility of the cryptocurrency markets, but others find it pretty stressful. Maybe you fall somewhere in the middle: You’re a crypto-fanatic, but all of the volatility in the market gives you a headache.
Stablecoins allow you to stay in the crypto-game, while combating the (sometimes wild) price fluctuations that occur in this exciting industry.
Stablecoins also allow you to use fiat like crypto. They’re pegged to fiat, so it makes it pretty simple to invest USD on crypto exchanges. Stablecoins can also provide perspective to those unfamiliar with the way the cryptocurrency market works. Most people will want to compare crypto value to fiat prices, so they can use stablecoins to do so on exchanges that don’t support fiat.
Stablecoins also provide the security and low transaction fees that are indicative of the nature of the crypto asset market. Stablecoins are a great way to achieve fast and affordable transactions of fiat-like assets. You’ll have the speed and cheap transaction fees associated with crypto, and you’ll also know the value of the stablecoin you’re using is the same as the fiat (or other asset) that it’s linked to.
How to buy stablecoins
Tether (USDT) currently has a market cap of $4,129,579,780, the fourth largest according to CoinMarketCap (at the time of writing). TrueUSD (TUSD) has a market cap of $161,707,769 USD at the time of writing. They’re both doing pretty well at the moment. Luckily, getting in on the how and why to buy stablecoins in 2020, also provides you with some insight into the buying process on Vertex.Market, a peer-to-peer marketplace where users can launch their own offerings. You’ll find both of the stablecoins available on the marketplace, with some pretty fantastic deals. Simply sign up, and do your thing. No KYC necessary.
Why stablecoins?
Stablecoins were initially invented as a way to combat the volatility of the cryptocurrency markets, and they’re doing a pretty stellar job of fulfilling their purpose.
So, how and why to buy stablecoins in 2020? It’s pretty simple: you’ll be incorporating a solid digital asset into your portfolio, that is backed by a major asset, and you’ll still receive all of the perks that come with other cryptocurrencies (like low transaction fees and fast transaction speeds). Find offerings on Tether (USDT) here, and TrueUSD (TUSD) here.
https://medium.com/@official_83664/how-and-why-to-buy-stablecoins-in-2020-46212a6546ab
