Greetings SoMee Family
Today I will be teaching STABLECOINS. It's a topic you must be familiar with but there's always something to learn
1. WHAT ARE STABLECOINS?
One thing that makes me like the Crypto world, is that most of its related terms are self-explained. Just like most crypto terms, stablecoins can be easily defined as stablecoins. In a more professional manner, I would define stable coins as a crypto asset that was created in a specific way that makes them far less volatile and unstable when compared to other cryptocurrencies.
Using a commonly used term I would say stablecoins are usually pinned or pegged to an external asset, for example, the famous USDT is said to be pegged to an external currency the USD, This helps the Crypto market strive for a great height. Stablecoins are very important because it's used to perform a special skill in the crypto market.
2. Why were stablecoins created and how are they useful?
The stablecoins give the market a structure and format in which transactions would occur on the market, this is what other coins can't assure you. Stablecoins also help reduce chances of losing your money accidentally, for example just imagine there were no stablecoins and someone wants to send money into his Crypto exchange. This user doesn't have a coin in mind to buy but she wants to credit her crypto wallet, if this user buys a volatile coin, in the next 1hour the worth of the user's money would definitely flutate and cause a big loss to this innocent user.
3. What are the most popular stablecoins? Which do you use more and why?
3a. HBD (Hive-Backed Dollars)
3b. USDT
3c. BUSD
Thank you all I hope you enjoyed this lecture. See you tomorrow.
#SME #SoMee #AweSME #someeofficial #crypto #stablecoin #learning #trading Greetings SoMee Family
Today I will be teaching STABLECOINS. It's a topic you must be familiar with but there's always something to learn
1. WHAT ARE STABLECOINS?
One thing that makes me like the Crypto world, is that most of its related terms are self-explained. Just like most crypto terms, stablecoins can be easily defined as stablecoins. In a more professional manner, I would define stable coins as a crypto asset that was created in a specific way that makes them far less volatile and unstable when compared to other cryptocurrencies.
Using a commonly used term I would say stablecoins are usually pinned or pegged to an external asset, for example, the famous USDT is said to be pegged to an external currency the USD, This helps the Crypto market strive for a great height. Stablecoins are very important because it's used to perform a special skill in the crypto market.
2. Why were stablecoins created and how are they useful?
The stablecoins give the market a structure and format in which transactions would occur on the market, this is what other coins can't assure you. Stablecoins also help reduce chances of losing your money accidentally, for example just imagine there were no stablecoins and someone wants to send money into his Crypto exchange. This user doesn't have a coin in mind to buy but she wants to credit her crypto wallet, if this user buys a volatile coin, in the next 1hour the worth of the user's money would definitely flutate and cause a big loss to this innocent user.
3. What are the most popular stablecoins? Which do you use more and why?
3a. HBD (Hive-Backed Dollars)
3b. USDT
3c. BUSD
Thank you all I hope you enjoyed this lecture. See you tomorrow.
#SME #SoMee #AweSME #someeofficial #crypto #stablecoin #learning #trading
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