What is Stable Coin ?
Stable coins are cryptocurrencies that are linked to currencies, gold, or other financial organisations. Stable coins were designed to provide an alternative to the extreme volatility of the most popular cryptocurrencies, such as Bitcoin (BTC), which has rendered such assets unsuitable for mass transaction use. Significance of a stable coin: 1. Stability in a volatile market: Stablecoins provide the same value for both cryptoinvestors and traders in the cryptomarket. Traditional investors might choose to invest in stable coins when cash, assets, or other crypto assets show rising volatility. 2. A Quick Move in the Crypto Market: Cryptoinvestors or traders are turning to stable coins due to the high volatility in the market. Investing in stablecoins allows you to stay current with the cryptocurrency market and move quickly between transactions without having to wait days for fiat money to be transferred. Uses of stable coins: 1. Cryptocurrencies are subjected to pric...