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Stablecoins: The Price Volatility Solution In The Cryptocurrency Market
What are stablecoins? Is Stablecoins the solution to the rampant price volatility in cryptocurrencies? This is the question in every crypto investor’s mind. Stablecoin cryptocurrencies development is key in regulating the high price volatility experienced in the cryptocurrency market. Traditionally, the prices of cryptocurrencies have been very unpredictable. This has made them unreliable for both the users and merchants. As the name suggests, Stablecoins have a consistent valuation. To achieve this, their prices are usually pegged on an existing financial asset. Examples include; Normal Money (Dollar, Euro) Commodities (Gold, Silver) Cryptocurrencies Commercial papers This means that their price correlates with the asset valuation. Pegging up their value reduces volatility. These…
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Tether (USDT), A Cryptocurrency Stablecoin Full of Success and Controversy
Since its launch in 2014, Tether has had a journey filled with a mixture of both success and controversy. Launched as a stable coin (cryptocurrencies that are pegged to the fiat currencies and commodities), Tether is currently the 3rd biggest cryptocurrency in market valuation. It is also the most successful and largest stable coin. The creators of Tether envisioned developing a cryptocurrency on top of the bitcoin layer. After its creation, it was pegged to the dollar at the rate of 1 USDT: $1. Since then, Tether has mostly maintained this value to date though occasionally there are slight deviations. Initially, it was known as “Real coin” however, the name…
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6 Top Cryptocurrencies You Need To Invest In 2021
A decade has passed since the first cryptocurrency was created. Since then, cryptocurrencies remain as some of the most lucrative investment assets available in the market today. Over the years, there have been changes in both regulatory and technological development. Currently, there are thousands of cryptocurrencies in the market. Every crypto is developed to fulfill a specific need in the market. This is one of the factors to consider while choosing the right options to invest in. In the long term, not all cryptos succeed. However, some have maintained a good performance since creation. Investing In Cryptocurrencies Due to the number of cryptocurrencies in the market, it is difficult for…
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