ICYMI: Coinbase Adds a StableCoin - USDC
Hey everyone! Exciting news hit twitter yesterday as Coinbase announced that they are releasing a stable coin to their platform.
It's currently available on Coinbase.com (in certain regions), and it's set to hit Coinbase Pro sometime soon, I believe.
If you don't know what a stable coin is, then it's exactly what it sounds like. It's a coin that has a stable price comparative to 1 USD.
Ironically, stable coins have had a volatile track record. Especially recently. I'm sure you've heard of the issues with USDT and other stable coins.
The issue mainly comes down to FUD... It's actually quite funny to see because it helps me understand why crypto can be in such a long-term down trend - people are so on edge about all this stuff.
People are so on edge that they fear even a stable coin won't be stable. Kind of funny, right?
Anyways, I'm not sure if I'll really use USDC or not... Unless it has some way of being easier to transfer into STEEM than ETH (less fees or something), I don't really have a purpose for it.
I'd rather store my money in STEEM and other cryptos that I actually believe will moon in the long-run. An added benefit to STEEM is that you can actually earn more by having a vested stake (STEEM POWER).
Coinbase released a 2m video explaining USDC, but if you're too lazy to watch it, I screenshotted the main points, here ya go:
The more protection the market has from Tether the better.
If you are looking for less fess you may wanna try it trading on kucoin because they offers an almost zero fee on usdc and actually I enjoyed it I think it runs the whole month now. It's an ERC20 token an other exchanges will be able to add it easily, and the company has indicated that there is great interest in the token.