Which are the Top 5 StableCoins?

As a crypto investor, there are quite a few thoughts that run through your mind at the point of getting involved with coins. For the most part, there’s a good chance of considering their volatility (a big misunderstanding in the cryptosphere). In essence, you might feel like all cryptocurrencies lack stability. Well, no one is going to blame you for that, but you should be aware that not “all” coins are volatile. In fact, some cryptocurrencies are linked to real-world assets like gold or the dollar. And if you ever want to get involved with them, we’ll recommend you sit tight as we explore just about everything you need to know.


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First Things First — What Cryptocurrencies Are We Talking About?

Well, we’re referring to Stablecoins. As the name implies, these are cryptocurrencies that are resistant to volatility. In other words, they are coins with a stable value. For the most part, Stablecoins comes with most if not all the features that make Bitcoin or Ethereum so appealing to crypto investors. But of course, these coins offer something more — they’re not volatile.

Are you ready to learn more? If yes, be sure join us as we explore up to five of the best stablecoins that are huge right now.

Tether

Looking to enjoy the joint benefits of blockchain technology and traditional currency? Just enter Tether — a cryptocurrency that’s designed to maintain the same value regardless of what goes on in the crypto markets. Essentially, Tether is linked to traditional fiat currencies and every tether token is backed 1:1 by traditional currencies held in its reserves. So basically, 1 USD₮ is equal to 1 USD, 1 EUR₮ is equivalent to 1 EUR and of course, 1 JPY₮ is 1 JPY — no volatility whatsoever.

For the most part, Tether’s mission is to allow users enjoy everything from ease of transfer to record keeping as well as other benefits associated with converting blockchain-based digital currency to traditional fiat currencies. With Tether, merchants, as well as traders, will be able to convert digital currency to their fiat value and transfer fiat-pegged tokens with ease. They’ll even get to price products or services in traditional currencies without worrying about the cost of converting digital currencies into fiat currencies.

It’s also good to know that Tether is as transparent as can be. In essence, their reserve holdings are published regularly and also subject to frequent professional audits. What’s more, Tether is readily available for sale or use at some of the most popular exchanges including Bitfinex, GoCoin, Shapeshift and more.

GlobCoin

Coming with the goal of bringing stablecoins to the next level, GlobCoin is a virtual currency that merges the best aspects of cryptocurrencies and fiat currencies. First off, GlobCoin has a lot of things going for it. And perhaps the biggest highlight is its link to currencies in 15 of the world’s biggest economies. But that’s not all — this cryptocurrency is also linked to 5% gold!

It’s also good to point out that the value of this digital currency mirrors the world economy. And even maintains a balance of currency from western economies.

On GlobCoin, investors will get to enjoy flexibility; in essence, they’ll be free to express a view on a particular country or group of currencies. With much emphasis on stability, GlobCoin’s first basket (yet to be launched) will allow it’s holders to switch to the most stable instrument; which happens to be more stable than the Swiss Franc. And with the GCP pure utility token, holders can access the services of issuing or exchanging tokens representing the platform’s currency basket. In a nutshell, GlobCoin is one of the best options for anyone looking to send or receive money in a cheap, safe, fast and highly secure way.

Carbon

Next in line is Carbon — a price stable cryptocurrency that’s run on a trustless ecosystem. This cryptocurrency project is pegged to the US Dollar and fully compatible with smart contracts. For the most, Carbon has an elastic supply policy that only adjusts the supply of the coin in response to its demand on the market. Of course, the ultimate goal is to maintain the value of each carbon token and keep it pegged to the value of the USD. 

As you probably expected, the Carbon system is built on a blockchain-like technology — Hedera Hashgraph. Of course, Hedera is pretty similar to blockchain in the sense that it’s also built on a distributed ledger. It’s however important to note that Hedera Hashgraph stands out in a way; it provides unprecedented throughput and speed! In essence, with Hedera, Carbon will be able to process over 100,000 transactions per second — incredible!

Dai

Still looking for a safe and solid investment in the cryptosphere? If yes, check out Dai. Of course, the ultimate goal of this coin is stability and everything is going to be market-based. With Dai, people will have the freedom to invest in a money that maintains its purchasing power and worry less about volatility. Essentially, the value of Dai will be reflective of that of the US Dollar; the primary reserve currency in the world.

The platform works by scanning the traditional currency market, monitoring fluctuations and imitating the changes to keep the coin stable. Although Dai won’t get as valuable Bitcoin anytime soon, we know for sure that it’s less likely to lose a good chunk of its price in one day. Be sure to invest when you can!

Basis

Last but definitely not the least is this cryptocurrency founded by three Princeton graduates. As with other stablecoins on the list, Basis’s aim is to offer a cryptocurrency that’s free of volatility. This platform looks to track the value of a fiat currency like the USD or consumer price index, all with the aim of making people invest with peace of mind. At this point, it’s good to point out that Basis makes use of up to three tokens including Basis, Bond tokens, and Share tokens. It’s however important to note that only Basis tokens are pegged to the USD and of course, they can be used as a medium of exchange. To sum it up, just about anyone with an internet connection can get started with Basis — highly recommended.

Conclusion

And that’s it. Although at a high level, it might seem impossible to have a trustless, fiat-free stablecoin, these solutions are attempting to change things up. Now, with the emergence of these stablecoins, new investors can enter the cryptosphere and rest easy knowing that everything is going to be perfect. There’s no doubt that stablecoins are here to stay and even likely to challenge the legitimacy of weak governments throughout the world. Don’t hesitate to join the movement today!

7 Comments

  • Yu Yan June 2018 - Reply

    I only know of Tether which is indeed a very stable coin that I have invested some money into. I will have to do more research on the others and see if any or all have potential.

  • Cecil Pearl June 2018 - Reply

    So it make sense to find out what is backing up your coin before you get to deep into investing? I have heard of a few that are backed by oil. That cannot be a bad thing right?

  • Tom McCombs June 2018 - Reply

    At first I thought, there is no such thing as a stable coin. However, the way you explain it as one being backed by something as good as gold, I get the terminology.

  • Ethan Martinez July 2018 - Reply

    I have heard of tether and know many people who have used it. This is a good one for people just getting more comfortable with cryptocurrency.

  • Oliver Williams July 2018 - Reply

    This is a great list for any reader. I am actually glad to see my top choices on this list. Great article! I am sure it will be very helpful for many.

  • Ben Amstutz July 2018 - Reply

    I had no clue that some cryptocurrencies were actually linked to physical currency like the dollar or gold. That adds a good sense of security while investing!

  • Josh Sprunger July 2018 - Reply

    I really love the security of having a physical value as well as the crypto currency in this! Really good information in this blog!

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