Short Introduction to Stable Coins

Published on: 28 Jun 13:27

In our last blog post, we touched briefly upon what a stable coin was. In this blog post, we’ll give you just a little bit more information on a stable coin and how it is benefiting cryptocurrency trading as a whole.

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WHAT IS A STABLE COIN?

In essence, a stable coin is stable — stable as currency can get. A stable coin is a cryptocurrency that is a hybrid between regular cryptocurrency (digital money) and fiat money (or what you commonly think of as currency that is physical and tied to a central banking system). A stable coin is pegged to another stable asset, such as gold or the United States dollar.

WHAT IS THE PURPOSE OF A STABLE COIN?

The purpose of a stable coin lies in its name — to be stable, which then translates to giving the cryptocurrency market stability. This is the main purpose of stable coins. However, an alternative purpose is that stable coins give people a way to enter the cryptocurrency market without all of the inherent volatility the cryptocurrency markets carry.

WHAT ARE THE TYPES OF STABLE COINS?

HOW DO STABLE COINS HELP CRYPTOCURRENCY?

WHAT IS THE FUTURE OF STABLE COINS?

Many cryptocurrency experts see the development of stable coins as vital to the growth of cryptocurrency. If a stable coin can appear that can have a reliable price that can be exchanged, you will see stability come into the cryptocurrency markets. If we are to achieve the original vision of a digital currency that is completely decentralized, we need a stable coin and thus a stable cryptocurrency market to achieve the end of hyperinflation, central government monetary systems, and mismanagement of the economies of some nations.

HOW CDUEL CAN HELP

cDuel is the best online trading simulator for cryptocurrency. We believe our service is much needed. People need to learn about cryptocurrency in a safe manner and experience what the cryptocurrency market is like. We offer cryptocurrency trading using real time market values, so you can experience the market volatility. You’ll compete against others and have fun doing so. Our mission is to spread the word about cryptocurrency. Help us achieve this goal. Visit our website today for this free cryptocurrency simulator!