What are types of Stablecoin?

[Developcoins]

Stablecoin is the sort of cryptocurrency which is widely used for stabilizing the cryptocurrency value. And there are six major types of stablecoin, they are,

Fiat-backed Stablecoin, Crypto-backed Stablecoin , Commodity-backed Stablecoin, Asset-backed Stablecoin.

These stablecoin is also aid to earn money by creating it and more than 200+ successful stablecoin are out there in market and the best example among them is Tether. To, create your own stablecoin development, ping us!!

 

[sincerem]

I never knew that stable coins have gotten to 200+ coins. I only know about few of them, especially those ones representing the US dollar in the digital world. Like the, USDT (Tether) coin, USDC, BUSD, Binance USD etc. They are the ones i van remember at the moment. Assume you'll help us here, and list the remaining, so we'll be familiarize with them all.

 

[Yugocean]

USDT (Tether) coin, USDC, BUSD, Binance USD etc.

These are Fiat/Asset-backed Stablecoins, they are backed by United States Dollar. There are many other which are backed by different real currency.
The example of Crypto-backed Stablecoin is Wrapped Bitcoin, it remains as high/low with Bitcoin.
Digix Gold (DGX) is example of Commodity-backed Stablecoin; value of every DGX is based on Gold price per gm.

 

[lesnik_utsa]

Now a lot of different chains with their own stablecoins appear. I recently got acquainted with xDAI and I really liked the small commissions required for transactions

 

[btaliat]

I never knew that stable coins have gotten to 200+ coins. I only know about few of them, especially those ones representing the US dollar in the digital world. Like the, USDT (Tether) coin, USDC, BUSD, Binance USD etc. They are the ones i van remember at the moment. Assume you'll help us here, and list the remaining, so we'll be familiarize with them all.

In fact information is truly power, I never know as well until I read this article. However, many people don't want to be conversant with stable coins because they don't really know its usefulness. Just that it doesn't rise nor low, they have assumed it may not be useful. And assuming people know how much these coins are useful, the bearish moment may have been averted.

 

[sincerem]

In fact information is truly power, I never know as well until I read this article. However, many people don't want to be conversant with stable coins because they don't really know its usefulness. Just that it doesn't rise nor low, they have assumed it may not be useful. And assuming people know how much these coins are useful, the bearish moment may have been averted.

That's why the marketcap, trading volume, and circulating supply of USDT (Tether) coin jump to a higher volume. Because those expert traders or investors utize it a lot during the bearish market to keep their coin's value away from dipping. I even did that, i stored my coins using USDT coin and it helped me to safeguard from losing its value.

 

[Suba]

You said there are six major types of stablecoins, but unfortunately you only described four stablecoins. Because the value is stable, stablecoins are widely used as crypto trading pairs, and will also get regulatory approval, such as in New York. Also often my friends use stablecoins as transfers between / across countries, because it is easier and faster than using a bank account.