A Detailed Dive Into Stablecoins #010

jueco (76)in Tron Fan Club • last year

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Hello great minds,

It is a beautiful day and I trust you are doing perfectly fine and you are enjoying your activities in the community.

It is a with a heart filled with joy that I humbly come before you all today to discuss on an issue if great importance in the cryptospace.

We started the journey of giving a detailed explanation on stablecoin, and from there, we dived deeper into it's types and also some key terms associated with it.

Finalizing at a key word known as Fiat currency, we are here to discuss some of it's benefit in the world we live in, please stay tuned.

ADVANTAGES OF FIAT CURRENCY

There are numerous advantages of fiat currency and some of them are.

DURABILITY:

Fiat currency has a good durability, this means that fiat currency has the ability to last for a long period without getting damaged.

This attributes contribute to the reason fiat currency can be stored for a longer period of time without fear of it getting damaged.

DIGITAL TRANSACTIONS:

This is another beautiful advantage of making use of fiat currency.

Despite the fact that it is popularly known to be bank notes, it can also be used to facilitate digital transaction.

It is accepted as a medium of payment in the digital world provided it is being done through electronic banking system.

CONTROLLED SUPPLY:

The fact that fiat currency can be controlled is another advantage of it serving for stability in the cryptospace.

It is due to this feature that the fiat currency is able to maintain it's stability in the cryptospace.

When it's circulation is becoming excess which will lead to a reduction in it's value, it's circulation will be controlled by the government to ensure it remains stable and maintains its original price.

CREDIT AVAILABILITY:

This is yet another interesting advantage of fiat currency.

Fiat currency allows for the borrowing and lending of cash, unlike the normal cryptocurrency that is not suitable for this, as a result of it's highly volatile price.

Due to the stable nature of fiat currency, you can borrow and lend money without having fear of price volatility.

CONCLUSION

We have examined the advantages of fiat currency and this has aid our understanding on why it is being used to back most stablecoin.

In our next meeting, we shall learn more things in the cryptospace.

#tronfanclub #steemit #fintech #steem #nigeria

last year in Tron Fan Club by jueco (76)

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