Media Release
Jan 21: Cryptocurrencies are dominating the world currently. Thanks to the fact that they are superior to regular payment methods, millions of people are using them on a regular basis. Not only that, but many more are keen on diving into the crypto world by investing in these digital assets.
There are basically two types of cryptocurrencies – highly volatile and stablecoins. Cryptocurrencies with a high volatility rate are used for making a profit. The most popular digital asset of this type is Bitcoin, which has a price tag that is over $60,000 in November 2021. One other good example is Ethereum.
On the other hand, stablecoins are a bit different as they are not subject to massive changes. They are the topic that we wanted to discuss in this article. We are going to dive into the details and explain what makes stablecoins the perfect investment. Let’s start.
What are Stablecoins
As the name of the category itself suggests, stabecoins are the total opposite of highly volatile cryptocurrencies. They are not subject to price changes, or in other words, sudden rises and/or drops in value. On the contrary, they are extremely stable as they are tied to an outside asset. That asset can be a FIAT currency (ex: US dollar), precious metals (ex: gold), or another cryptocurrency.
Where Can You Purchase Them?
When it comes to purchasing stablecoins, the best option is trading sites. These platforms operate 24/7 and they can connect you with other traders from every part of the world. Not only that, but reputable sites are also extremely safe as they utilize the latest security system, meaning that their registered traders will be kept out of harm’s way.
To use the services of trading sites such as Quantum AI, you just need to register. Check out this Quantum AI review to learn more about the technology behind the platform. Otherwise, the registration is simple as you fill in an online application form with basic information. It lasts just 1-2 minutes. After that, you will be most likely to verify your account. In the end, all that is left is to visit the market and start trading.
The aforementioned site is also optimized for mobile use, which means that you can trade stablecoins at any time and place, just as longs as you are connected to the Internet.
Advantages of Stablecoins
Stablecoins might not be comparable to highly volatile cryptocurrencies when it comes to making a profit, but the reality is that they have an array of advantages as well. Their first and biggest advantage is stability. Stablecoins are not subject to market changes and that makes them extremely dependable.
The second advantage that comes is the fact that they are the perfect payment method. With highly volatile cryptocurrencies, you may end up paying for a service a lot more expensive if the crypto raises in value in the period after you’ve used it. Take a look at Bitcoin.
The first transaction with Bitcoin was used to purchase 2 pizzas at Papa John’s in Jacksonville, Florida. Their total cost was 10,000 Bitcoins, which in today’s value would be around $80 million. Talk about an expensive pizza, huh?
Finally, stablecoins have extremely low fees and due to their stability, they will always remain relevant and used for trading. Faster fees, bigger transparency, and privacy are also among those advantages.
The Most Dominant Stablecoins on the Market
There are quite a few stablecoins on the market, but if you want to reap all of the aforementioned advantages, you must make sure that you choose the best. With that being said, some of the most dominant cryptocurrencies of this type are Tether, USD Coin, Paxos Standard, and Binance USD.
Out of all of these, Tether takes the number 1 spot. It has a value of $1 and its outside asset is the US dollar.