Stablecoin, what are they?
What are the stablecoins?
Stable currencies are a type of cryptoactive where their price will not vary due to market fluctuations and volatilities; otherwise, they will remain and offer a certain stability, because their tokens will be backed by objects from the physical world, such as fiduciary money, gold or oil.
For some the idea of having tokens in the market of backed or centralized cryptocurrency is often a contradiction, since its main value is to be decentralized, but in itself its funds are, its tokens are, only that its support to the time something goes wrong will be in a bank account that is constantly audited to make sure that the number of tokens circulating in the network are backed up in these accounts.
What are the stablecoins for?
Given its stability and low volatility, they serve to make transactions reducing the risks; for example, I acquired 100TUSD, deposited in a bank the amount of dollars that this amount of TUSD equals me (in this case it would be $ 100) and my criptodivisas were transferred to my favorite wallet or exchange, which given its stability can change to others cryptoactive
On the other hand, they also help purchases within the internet, since a token of these will equal 1 $ or a barrel of oil or certain quantities of grams of gold. This would be in theory a 1-for-1 exchange, where we will convert fiat money into cryptocurrency.
Examples of stable currencies:
Backed in fiat money:
In the market pairs are already obtained where their counterpart with which the price will be equivalent are fiduciary currencies, these are the case of TUSD and USDT, which will face the price of the BTC or ETH and will appear in exchangers in this way BTC / TUSD ETH / USDT.Backed in oil:
Recently, the Venezuelan government launched its cryptoactive; The Petro. A token whose price is based on the price of a barrel of oil in the market, in addition to being backed by Venezuelan oil and other minerals of this country. For many; The Petro, is another fraud of the national government and is thought to have other hidden interests. But in itself, the idea of having a cryptoactive backed by minerals from a country so rich in them, is an excellent idea. Besides wanting to establish little by little the use of new technologies in this country, only that in my opinion it was not the right time to launch it, due to the crisis that this country is going through.
These are some examples of cryptoactives backed by real-world physical objects, if you can call it that.
Stable currencies are an excellent idea to meet various objectives, depending on the cases in which they will be used, since it has a hundred percent reliable and auditable support that will protect investments when it comes to a failure within the system, call hacks, etc.
Coins mentioned in post: