Crypto Academy Week 7 - Homework Post for [@yohan2on] || Stable coins - Part2

Hi everybody, it is another exciting week with this week course 7 part 2 on stable coins. I am delighted to write about another stable coin. The content put forth on this post is entirely based on my opinion and will welcome addition and subtraction of content in the comment section to make the post more meaningful. Thanks to our able Professor @yohan2on and the Steemit team for this great opportunity for us to learn about crypto currencies.

As per my last homework task, I did mentioned that this course on stable coin was timely given the fact that many individuals are in to crypto assets, and for anyone intending or has involved in to trading and investing on crypto assets should endeavor to go through this course in order to grasp the basics in trading and investing in stable crypto assets. This week, I will be writing on USD or USDC , one of the most valued stable coin.

STABLE COINS

This could be defined as those coins established on the blockchain network in order to reduce irregularities when it comes to value in exchange and value in use. This is so because they are attached to a stable asset. A good example of such stable coins is the USD coin.

Understanding USD or USDC

This is one of the stable coins operating on the ethereum network with preoccupation of digitalizing the US dollar. Many individuals have seen it as the most valued crypto asset when it comes to stable coin. The reason for this, one could say is as a result of the good attributes attached to USD coin, and equally the fact that the coin is attached to the US dollars.

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Also, USD is a decentralized crypto asset, meaning that 1USD is equivalent to $1. This coin came about in 2018, developed by a group of companies by name Center Consortium in partnership with Coinbase and Circle. What these companies does is that the Center consortium builds or developed the structure while Coinbase and Circle commercialized USD.

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According to data obtained from the coinmarketcap, USD has a marketcap of about $10billion , fully diluted marketcap of about $10billion, circulating supply of about $10billion, and total supply of about $10billion. USD could be traded on poloniex, Coinbase, binance amongst others.

Attributes of USD

These are features which makes the USD coin one of the most valued coins in the crypto market. Amongst them are:-
> USD is powered by the ethereum network.
> It is backed by the US dollars.
> It is easy to operate in terms of transfer and movement of money without any stress.

Advantages of USD

> The USD coin is in compliance with the legislation, that is the laws put in place by the government to regulate irregularities. This has helped to build trust and confidence for investors and traders of USD.
> In terms of security, the USD coin is powered by ethereum blockchain, which makes it widely adopted.

How to Store USD

From the attributes and benefits of USD coin, it is compatible with many ethereum- based wallets. As earlier mentioned, USD coin is powered by the ethereum network, making it secured to store your coins on any wallet supported by the ERC-20. Some of the secured ethereum wallet to store your USD coin could be desktop wallet, web wallet, mobile wallet etc.

In conclusion, USD is one of the most valued stable coins which is not highly volatile as compared to other crypto assets. Thanks once more to our able Professor @yohan2on and the steemit team for this wonderful opportunity for us to learn about stable coins. This has widened our knowledge on crypto currencies. It’s always a privilege to partake in your homework task, while waiting for your positive response, remain blessed🙏🏽🙏🏽🙏🏽

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