Steemit Crypto Academy - Topic 7 - Homework Post for @yohan2on by @azizulhassan

OK I will try to explain it as easy as possible stablecoins are are cryptocurrencies with stable price if you look at the big cryptocurrency like Bitcoin surprised change is every 10 seconds there is a lot of fluctuation and volatility that is why the creators of stable coin came up with the idea that should be  cryptocurrency  with stable price  Now every stable coin is pegged or backed by Something it can be a US Dollar or Euro  and it can be cryptocurrency itself  you will take an example of of US Dollar  to let suppose there is a coin  pegged with  USD  that coin always be  the same price as  USD that is basically stablecoins in simple words

Is coin is is completely Fiat backed US dollar collateralized Table coin which was released by paxos trust company  in 2018 Most of stable coins these days are are in alternative to to the famous    stable coin tether And there are many coins like this in the market and they are trying to fulfill the same purpose this coin  Is a US Dollar pegged coin so it mean that  The price of this coin will always be $1 

It is  erc20 token which was issued on the  ethereum blockchain Now as I said this token will always be  1 US Dollar  It means that you can use this for your trading without converting your cryptocurrencies into fiat   currencies  
It only remains in circulation until There is a US Dollar held in reserve  when pax Token are redeemed  for US dollar the tokens are immediately destroyed

As I told you in the beginning that this is a erc20 token so you can use any erc20 wallet to keep this coin  we have talked about erc20 token and wallet is well in the previous lectures but just for example I will give you a few wallet name that you can try for this coin but it will work on any erc20     capable  wallet mtamask
Is my personal favourite because it's very simple and if you don't know how to use it you can go to my post last week I told you how to create a metamask  account so you can give it a try and yes you can also use  myetherwallet  this is also nice one and there are many other wallets but these are the only that I have   personal experiences

Market detail

rank #91

market cap 856,569,394

volume 74,957,963

Circulating Supply 854,139,237 PAX

Now if you look at the graph it is been quite stable all his  time and if you look at the ranking it's also really good bye think this coin is really good for trading and there is a   bright future for this coin in other words I would say this is very example of a table find its completely fixed  to $1

When the first benefit is that it is pagged with  US dollar there is a zero volatility issue means is a cryptocurrency with zero volatility

You can change it anytime to Physical assets rapidly  you can change it back to digital currency anytime   anywhere

The best advantage is that pax  allow you to to convert your fiat  currency   into digital  without any fee that's the most beautiful advantage in my news

As far as stablecoins go, PAX is on the more regulated end of the spectrum. They have far more licenses and trust agreements than some options like USDC and USDT, but for the same reason took a while to gain traction. They have a few more hoops to jump thru regulation-wise, but have a pretty good reputation in both the States for US Regulated entities as well as Asia for overseas flow. Overall, I like PAX.

The image of this coin is really good and if you look in cryptocurrency and character is everything   we will take the example of   tether  I mean it is a beautiful but if you look at that it's not that could that's why so many coins came  to the market

this coin has a bright future it can maintain the price and its image there is no looking back I think it's still in the line  it will take a little bit more time to get popular like other stablecoins but overall I think it's really nice  coin

Special mentions to @steemcurator01
@steemcurator02 To get their support