Cryptocurrency

Exploring The Most Promising Stablecoins

Complete Details Exploring The Most Promising Stablecoins

Exploring The Most Promising Stablecoins: If you have firmly decided to become the owner of a cryptocurrency for savings and subsequent additional income from trading, then you should familiarize yourself with those options that are considered the most promising for 2022 and the near future.

It`s not necessary to study lots of the list of stablecoins — read our short review of the most attractive tokens and choose something to your taste.

Why Are They Stable?

Before analyzing various cryptocurrencies, let’s find out why they are more promising than the Bitcoin or other well-known values:

  1. Firstly, the token rate is pegged to a real currency (for instance, the euro or dollar).
  2. Secondly, the rate of some cryptocurrencies is pegged to the value of material assets or natural resources (for example, oil, gold, and precious stones).
  3. Thirdly, a stable exchange rate is supported by seigniorage obligations and the redemption of tokens thanks to the operation of smart contracts.

These factors will reduce volatility and prevent critical price fluctuations.

Tether

This is the very first stablecoin in the world, which was created in 2015 with a peg to the US dollar. At the beginning of the summer of 2022, the market capitalization of the token was at the level of $1.8 billion, which allowed USDT to systematically get into the top 5 and top 10 best cryptocurrencies. The system already supports the euro, and soon the launch of Tether linked to the Japanese yen is scheduled, too.

TrueUSD

The second most popular cryptocurrency, whose rate is also equal to the dollar. This value is not as popular as Tether, but it also has a large market capitalization (approximately 100 million dollars). At the moment, the issuer has emitted almost 200 million tokens and claims that each coin is backed by a currency that is stored in the company’s bank accounts. Based on Tether’s case, the brand also plans to launch euro- and yen-based coins, but no rough start dates have been announced yet.

EURS

This is one of the newcomers to the market, which quickly gained popularity among traders. The release of the first token took place in 2018 based on the Ethereum blockchain and the Stasis platform. The total number of coins issued by the summer of 2022 is 12 million. Interestingly, the creators position the coin as a unique project, equipped with a three-level asset verification. In addition, the platform allows you to tokenize real currencies, securities, and any other assets. Additionally, EURS is great for international payments.

DAI

MakerDAO recently created a DAI token on the Ethereum platform with the ability to use smart contracts. The cost of a coin is always equal to one US dollar, it`s created at the request of the user and is immediately burned when the token is returned to the platform when exchanged for Ethereum. Essentially, all the basic Ethereum wallets are suitable for storing these coins.

Thus, among promising stablecoins, you can find different options and each of them is worthy of attention — you`ll have to spend a little time on analysis to choose the most suitable variant.

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