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Understand the decentralized stable types
In recent years, decentralized stables have emerged as a popular alternative to traditional fiduciary currencies. These digital assets are designed to maintain stable value, as well as gold or other precious metals, while allowing peer transactions and generalized adoption. However, with so many different types of available decentralized stable, it may be excessive for new investors to navigate the market. In this article, we will deepen the main characteristics and characteristics of various popular types of decentralized stable.
1. Tether (USDT)
Tether is one of the best known decentralized stables on the market. Run in 2014, Tether uses the US dollar as a backup asset and takes it to the value of the euro at a fixed rate or 1: 1. This means that when buying or selling bonds, it is buying or selling euros for dollars. Stablecoin de Tel is considered one of the most traded and accepted stables in the market.
2. USD COIN (USDC)
USD Coin was launched in 2018 by Circle Internet Group, a company that also issued USDT. Like Tether, Usd Coin uses the US dollar as a backup asset and takes it to the value of the euro at a fixed or 1: 1. 1. and cryptocurrencies, allowing perfect transactions on different platforms.
3. DAI (DAI)
Dai is another popular decentralized stable that uses the US dollar as a backup asset, but has a slightly different approach. DAI is linked to the value of 1/100,000 or a bitcoin (BTC). This means that when you buy or sell DAI, you are buying or selling BTC for dollars. Dai Stablecoin is considered one of the most innovative and promising market.
4. USDP (USDP)
USDP is another decentralized stable launched by Circle Internet Group, similar to USD Coin. However, USDP uses a different approach to USD currency, setting its value to 1: 1 with other cryptocurrencies such as Ethereum (ETH). This makes it more compatible with the growing Defi platform ecosystem (decentralized finance).
5. Binance dollar (BNB)
Binance Dollar is another popular decentralized stable that uses a cryptocurrency basket, including Bitcoin, Etheum and others, to maintain its value. Unlike other stablcoins, BNB does not have an explicit support asset and, on the other hand, is based on the collective value of participating cryptocurrencies.
6. Stablecoin standard paxos (PAX)
Pax is another popular decentralized stable that uses a coin basket, including Bitcoin, Ethereum and others, to maintain its value. Like other stablcoins, Pax does not have an explicit support asset, but is based on the collective value of participating cryptocurrencies.
7. CRACKING USD STABLECOIN (kiss)
Kraken USD is another decentralized stable that uses a basket or coins, including Bitcoin, Ethereum and others, to maintain its value. Kus does not have an explicit support asset, but is based on the collective value of participating cryptocurrencies.
Understand the risks
While decentralized stables sacrifice many benefits, there are also risks associated with them. These include:
* Volatility: Decentralized stable can be volatile, which means that its value can fluctuate rapidly.
* Liquuidity: Some decentralized stable may have a lower outcut than traditional cryptocurrencies, which makes it difficult to buy or sell them.
* Regulatory risks: The regulatory landscape for decentralized stables continues to evolve and uncertain.
Conclusion
Decentralized stables offer a promising alternative to traditional fiduciary currencies while maintaining the stability of their assets breathed.
