Crypto Academy Week 6 Homework Post for @yohan2on: Stablecoin

darwinking (59)in SteemitCryptoAcademy • 3 years ago (edited)

stable currencies were created in order to appease the high volatility of the crypto market, and as a security method to keep assets in standby mode, in the fiat world the USD amaracino dollar maintains a stable value compared to other currencies of other countries that are devalued rapidly in the case of Venezuela is a country where the country's currency is devalued daily, then people resort to the US dollar in cash. It is almost the same with digital currencies for example with the BTC it can reach record highs but it can collapse spontaneously and become worth much less. Stable currencies were created to avoid a tragedy in your finances.

El Steem Dolar

is a stable coin designed to be worth 1 USD and be changed to Steem at any time is a coin that was born in steemit.com this coin is decentralized can not be mined as it works with Graphene, but we see something very particular the coin that was designed to cost 1 dollar now at this time has a value of $ 6 then we see that supply and demand positively affect the SBD.

Source

SBD stabilize the blockchain and always keep the value stable but this will depend on the market capitalization which makes the price have changes in final value.

how to get the SBD

The SBD is the second currency used in steemit, it is with what your post will be paid after dividing the profits with the curators and with the voting power there remains a% that becomes SBD these can be exchanged for steem within the same platform, you can also get buying steem in any exchange platform for example I use binance that is comfortable for me and buy steem with btc those steem I send them to the steemit platform and within the steemit.com platform change to SBD to save the assets.

Source

Currently this stable coin remains well above its stable competitors which is being very well seen by the community this makes the currency grow and has a positive value for both the market and to give prestige to the platform also I want to note that this open source currency is backed by steem.