Investment is key!
You work day and night to earn money and your hard-earned money should work for you.
Investing is the practice that allows you to take charge of financial security. Investment helps you to grow wealth and earn a passive money stream if required ahead of retirement. There are several ways to invest such as bonds, stocks, real estate and more. Among all the investments, cryptocurrencies are the secured investment. With cryptocurrency, you can either become rich or lose your money. But, investing in popular stablecoins such as Tether and True USD is extremely profitable. Let’s have a look at the best stablecoins to invest in.
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Tether (USDT)
Tether (USDT) is the popular block-chain based digital currency. These stablecoins in the circulations are almost equivalent to fiat currencies such as Euro, Dollar and more. Tether stable coins are the native coins of the Tether network. These tokens are traded with the USDT symbol.
USDT is the popular stablecoin in the cryptocurrency market. Tether is the secured stablecoin, the value of the token is pegged to dollars. Simply put, the value of the U.S Tether coin is $1 every time. The combined power of academia and science is the result of Tether. When you observe clearly, Tether (USDT) doesn’t get affected by cryptocurrency market fluctuations. The stable coin could be more helpful while performing exchanges into USD. Finally, Tether is considered as a safe and secure stable coin to purchase.
True USD (TUSD)
The stablecoin True USD is also called TUSD. True USD is one of the leading US dollar-backed tokens that are most liquid in the crypto market. The True USD value is $0.998.
When compared to fiat currencies, cryptocurrencies such as Bitcoin, Litecoin and Ethereum offer low transaction charges and high-interest rates on digital assets. TrueUSD is administered by its parent company “TrustToken ”, the destination for tokenizing the digital currency. True USD units are built or created whenever TrustToken’s selected partner banks or institutions are paid.
The ultimate goal of TrueUSD is to maintain a proper balance of utility and stability. These two are the key use cases of all the stablecoins. TUSD is a member of the ever-expanding stable token market. Currently, TrueUSD incorporates a massive number of USD-backed digital assets.
Paxos Standard (PAX)
Pax Dollar (USDP) is the popular flat-collateralized stablecoin introduced in 2018. The Pax Dollar stable coin was founded by Rich Teo and Charles Cascarilla. USDP minimizes the volatility of the stablecoin value, relative to certain stable coins or assets. Similar to other coins, USDP is pegged to virtual currency or fiat money. Few cases, Pax Dollar can be traded or exchanged for commodities. Sounds amazing right! Pax Dollar (USDP) provides a handful of benefits of transacting with the blockchain virtual assets via minimized value risk.
The Pax Dollar price is $1. USDP stable coins are issued as “ERC-20” on Ethereum. These coins are collateralized “1:1” through the USD that is held in Paxos-owned bank accounts. Investors can easily exchange U.S dollar – Pax Dollar stable coins. The primary aim is to stabilize the U.S dollar with blockchain technology.
Binance USD (BUSD)
Binance USD is also called BUSD. It is considered a 1:1 USD-backed token issued by the Binance. BUSD was launched in September 2019, approved by NYDFS (New York State Department of Financial Services). The price of the Binance USD is $1. Traders can view their audit report every month on Binance USD official website.
According to the value stability, BUSD plays a key role while processing the transactions, settlements and DeFi.
Let’s have a look at Binance USD use cases
- Within a couple of minutes, traders can transfer their digital dollars with low value.
- Trade Binance on multiple exchanges.
- Deposit Binance to make money through the interest rate.
- Pay Binance stable coins as payment mode while purchasing products or services.
- Traders can use BUSD as a loan asset.
Goldcoin (GLC)
GoldCoin (GLC) is the p2p cryptocurrency founded by an anonymous user in 2013. Similar to Bitcoin (BTC), Goldcoin has no owner or organization. GLC is a decentralized and p2p network that belongs to people around the globe. Goldcoin is one of the popular Ethereum-based stablecoin. GLC is backed by “Gold”. GLC can be used to acquire or maintain digital assets.
Great news!!! With Goldcoin (GLC), investors can acquire real bullion delivered directly at their doorsteps. Keep a note, if you’re planning to get Goldcoin (GLC), you need to submit identity details. Otherwise, you should buy a gold unknown person with this stable coin.
Goldcoin (GLC) blockchain run on POW consensus, the algorithm used in Bitcoin and Litecoin. GLC is offering attractive features than Bitcoin, let’s have a look at it
- GLC has 2 minutes block interval. Bitcoin and other crypto has a minimum of 10 minutes of block interval period,
- The block size of Goldcoin is 32 MB. Bitcoin has just a 2 MB block size.
- On-chain scaling is attracting millions of investors worldwide.
- The network capacity of Goldcoin is 1120 transactions per second. Whereas, Bitcoin is just 7 transactions per second.
- Goldcoin offers instant transactions.
Can you buy stablecoins?
It’s an open fact that stablecoins such as Tether, Goldcoin, Paxos Standard and other coins are secure when compared to other cryptocurrencies. if you’re putting all your savings into stablecoins in the hope to become millionaires, that could be a risk and dangerous bet. Stable coins are designed to stay stable. If you’re curious about investing in stablecoin, start investing with the leftover money after you’ve paid for all your expenses.
Conclusion
Stablecoins are the popular cryptocurrencies type that is specially designed for stability. The stablecoin can be backed by digital assets such as dollar or gold. It’s absolutely the user’s choice. There are other popular cryptocurrencies such as Bitcoin that cannot be pegged to the stable coin or asset. Simply put, the value of stablecoins are determined by connecting software-driven cryptography and p-2-p technology. The ultimate aim of stablecoins is to connect the virtual asset or digital currency and fiat currency by allowing investors to have their cup of tea. Hope the above-mentioned stablecoins in the list are helpful for you. Take time and invest in stablecoin that meets your need and requirements.
