MORE ON STABLECOINS

Here’s another way to describe stablecoins according to Coinbase dot com:

“A stablecoin is a digital currency that is pegged to a “stable” reserve asset like the U.S. dollar or gold. Stablecoins are designed to reduce volatility relative to unpegged cryptocurrencies like Bitcoin.”

FACTS ABOUT STABLECOINS:

  • They are stable because they are asset-backed.

  • They are cheap and secure to transmit.

  • Stablecoins are accessible to anyone with internet, 24/7.

  • They are pegged to a stable currency and that gives users the assurance that the value of their coins won’t crash suddenly.

  • You can easily transfer them from one person to the next without expensive fees. (People have sent as much as a million dollars worth of USDC with transfer fees of less than a dollar, according to Coinbase dot com.)

  • The USDC is a stablecoin that is backed by US-regulated financial institutions and currently operates on the ethereum (ETH) blockchain.

  • If you don’t trust cryptocurrency right now, after working with stablecoins for a while it should be easier to move from stablecoins to cryptocurrency.

Send me your stablecoins questions and I’ll try to respond as best as I can. If I don’t have the answer, I’ll find it for you.😀 Let’s learn and grow together!

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Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.

Sherma Felix