Stablecoins

in #blockchain6 years ago

Stablecoins

Hello, dear stemians. Many talk about the volatility of cryptocurrencies, however there are a few currencies called #Stablecoins, as they maintain a relatively stable value within the ecosystem of cryptocurrencies. In this new post I will talk about the most common.

Crypto currencies are known as stablecoins that seek to maintain a unique value in the market, thus counteracting the instability that criptodivisas usually present. Some of these stable currencies seek to have a value based on fiat assets (dollar, for example) gold, or another type of support.

The volatility of the market in cryptocurrencies means that many investors choose not to invest. Some detractors argue that it is a risk to invest a large sum of money in a cryptoactive without any guarantee.

Meanwhile, the detractors of stable currencies argue that by depending on a fiat asset or another, its fixed value would be subject to the banking bureaucracy and other emporiums that would not allow to maintain a certain flexibility and decentralization.

The creators see in stable currencies an ideal way for traders, since they can set the prices of their products, as well as they can be useful to send remittances, they can be used as a portfolio of savings and also as a form of protection before the ups and downs of the cryptocurrencies. Many people want to invest but need security and protection of their investments and the Stablecoins provide a safe and guaranteed way of investment.

In this way stable coins or stablecoins present the best of two worlds: cash, globalization, decentralization and low volatility. In 2014 the first cryptoactive stablecoins was created: BitShares was commissioned, tried to back their currencies with assets, however this experiment has not worked very well in the market. Despite this experience, the amount of stablecoins is growing, below is a brief series of stable currencies.

Tether, this coin has been designed to have a value close to the dollar. The Company has issued statements in which it ensures that its currencies are backed by dollars held in a reserve. Its stability has allowed users and platforms to invest in it, thus allowing the exchange of other cryptocurrencies.

NuBits, like the Theter bases its active fiat on the dollar, and can be exchanged. The company has indicated that the funds invested are stored in a system registered in #blockchain, where each user has control of their investment.

TrueCoin, another currency backed by the dollar. Your funds remain in escrowed accounts that only investors access, they can be exchanged in TrueUSD tokens for dollars saved in accounts.

Basecoin, is another stable currency and it seems strange, but this currency has the support of some of the most recognized cryptocurrency investors: Pantera Capital, Polychain Capital, MetaStable Capital and others, there it is observed that there is some confidence to invest in this type of coins.

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