Everything You Need To Know About A Stablecoin
Today, cryptocurrencies are synonymous with uncertainty. A factor propagating this belief is their highly volatile prices. Take, for example, the case of Bitcoin. This digital tender launched by the enigmatic Satoshi Nakamoto is notorious for its very fickle rates that change without any prior intimidation. This is very notable in the bull run the Bitcoin experienced during 2017 where the price went from $900 to an astounding $20,000. Unfortunately, all was not well as in the following year as the prices crashed to $3000. However, is it possible to feature a cryptocurrency with a steady value? The answer is yes, and it can be achieved by using stablecoins. A stablecoin is best described as a digital currency which draws its value from real-world assets or other fiat currencies or even a basket of cryptocurrencies. By pledging a currency against real-world assets, for instance, gold or other bullion helps “stabilize” its price. This is because these assets have an assured value and