What are the types of stablecoin?

Developcoins

New member
Stablecoins are generally known for its name, its a sort of cryptocurrency which is used to stabilize the cryptocurrency value. These stablecoins are formed by pegging the tokens with some real-world asset like fiat, gold, etc.

Generally, there are four types of stablecoins they are,

  • Fiat-backed Stablecoin
  • Commodity-backed Stablecoin
  • Crypto-backed stablecoin
  • Non-Collaterlized stablecoin
Know more about stablecoin development in detail, click Developcoins.
 

Godslamp

Active member
Stablecoins are useful for investors who want to keep their assets in the crypto space. Switching from crypto to fiat currency can be expensive and time consuming. Stablecoins give investors the best of both worlds a stable asset within the crypto space with an advantageous transactional speed.
 

Daykas

Active member
Actually i thought I know much about stable coin but this write up of yours has enlightened me more about stable coins.
Commodity-backed Stablecoin
Crypto-backed stablecoin
Non-Collaterlized stablecoin
This are mainly the ones have heard about and I only had enough knowledge on crypto backed stablecoin.
Thanks this was really helpful
 

Sotherefore

VIP Contributor
Every cryptocurrency in the cryptocurrency space has its own uses, a stable coin is useful if you have a prediction that there will be a sharp decline in the price of cryptocurrency you can convert all your cryptocurrency to a stable coin which the movement of other cryptocurrency does not have effect on them.
 

Ralphjoe

Active member
The stablecoins that I have most trust and faith in are the stablecoins that are backed by Fiat currency of countries because this one's actually have a real real fiat on the ground that back anyone's investment in the cryptocurrencies unlike other forms of cryptocurrencies that doesn't have a physical cash that is backed with the cryptocurrency. Take for instance, the USDC is backed by $1 in the US economy so therefore no one can loose by transferring their Fiat money into USDC.
 

btaliat

VIP Contributor
It took me some time before I could even knw the relevance of stable coins. But having realizing the usefulness, I know it is very important for investors that wants to save his coin because he doesn't want the volatility of unstable coins to affect his profit. I am only aware of usdt. But I have not invested in any stable coin.
 

PICKFORD

Verified member
In cryptocurrency I don't think there's anything like stable price it can decrease and increase at any point in time that is how the market works in cryptocurrency there has never been any stable coin so far. if you're looking for a particular coin to get you can go for the ones that are trending like that of doge coin, Tron coin, Xrp coin, savemoon coin, Australian Shepherd coin fegtoken etc you can acquire all this coin at huge unit like in million/billion pieces if you have smart chain bnb.
 

sincerem

VIP Contributor
Stable coins have enabled us to save the value of our funds the same for long time and never lose its value base on fluctuation of price of the coin. It works in such a way that if the investor is panicked he or she can just switch its coin to stable coin and calm the tempo of losing bit part of his or her coin due to bearish run.
 
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