What is the purpose of a stablecoin?

The primary purpose of stablecoins is to provide a crypto asset that maintains a stable value within a volatile market. This stability makes stablecoins useful in facilitating transactions making them cheaper and faster especially across borders. Furthermore, stablecoins enable the movement of crypto between different exchanges.

What is the benefit of a stablecoin?

The main benefit of a stablecoin is to provide price stability in the crypto market since its value always remains constant. Since they lack volatility, they are great for borrowing, lending, and making payments especially abroad. They also provide immense liquidity to DeFi projects, and they bridge the gap between fiat and crypto as they are backed by real assets with real value.

How many stablecoins are there?

At the time of writing, there are approximately 200 stablecoins. The most popular stablecoins are tether (USDT), USD coin (USDC), binance dollar (BUSD), and dai (DAI). These coins are well known due to their market capitalization as well as their utility in financial markets.

Primi passi

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Cos’è una stablecoin? Guida per principianti

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