WHAT ARE STABLECOINS?
LET'S TALK ABOUT STABLE COINS!
LET'S TALK ABOUT STABLE COINS!
With all of the price action of crypto lately, it seems like this would be the perfect time to shift our cryptocurrency thoughts (and our assets) to stable coins, so let’s chat about what they are and what they can do.
Stablecoins are cryptocurrencies with a fixed value and are often expressed in dollars. What that means is that the value of the cryptocurrency shouldn’t fluctuate as frequently as in normal cryptocurrency assets, so we have a chance to increase our opportunities to protect our coins from the volatility of the market.
PC Mag dot com says it like this: “Stablecoins are designed to combat the volatility of conventional cryptocurrencies by fixing their value to that of a fiat (traditional) currency like the US dollar or a physical asset like gold. As long as the value of the asset a stablecoin is tied to remains stable, that coin will also remain stable.”
The 2 things I hear a lot from people who are considering adopting cryptocurrency are:
(1) Lack of knowledge about it; and
(2) Price volatility.
I can help you with the knowledge part of it😀 just click the link to join and HIT THE DCX BUTTON! When you come on board you’ll find that a lot of information is available on how you can BEST MANEUVER THE VOLATILITY! Just hit DCX!🤸🏿♀️
I’m sure you have experienced crypto prices shifting from month to month or especially if we’re talking about BTC, they can shift minute by minute! So I understand why casual investors are leery about adopting currency that could be here today and gone tomorrow as far as price action. And that is where stablecoins come in.
We already know that crypto isn’t affiliated with any government, firm, or political party. They aren’t depending on the economy to rise or fail; they depend entirely on supply and demand in the market. A lot of the volatility we see or experience has to do with the lack of trust in cryptocurrency as well as (we discussed yesterday), crypto purchasers coming into the market without knowing much, looking to make a quick buck; they jump quickly out of the market either when they make the quick buck, or if they lose money - because they don’t quite understand what’s happening. This all leads to volatility.
If you’ve been trading in the market for a long time and you know what you’re doing, stablecoins may not be for you because you’re probably following the hour by hour (or minute by minute😳) market fluctuations of cryptocurrency and using graphs and other data to receive some type of revenue regardless of what the prices are doing. However, if you don’t have that experience, haven’t been in the crypto market for a considerable length of time, and/or you’re unsure of what you’re doing, you may want to shift your attention to stablecoins.
Some examples of stablecoins are: Tether (USDT), USD Coin, Dai, Pax Dollar, Terra USD and Binance USD. Check them out on coinmarketcap dot com or coingecko dot com and familiarize yourself with them. We’ll chat more on stablecoins tomorrow, and in the meantime, you can JOIN ME HERE TO LEARN MORE ABOUT CRYPTO AND STABLECOINS!
All you need to do is to CLICK ON DCX and jump in (for a limited time only, until May 23) for only $185 to get started, and a $175 monthly subscription for the learning and growing experience! See you there!✌🏾🌻
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.