Beginners guide to the Stablecoin Universe of cryptocurrencies

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Adriaan Admin

Administrator
Staff member
Jan 30, 2018
225
39
28
www.bitcoinforbeginners.io
#1
Hey everyone, I have been writing an overview of most of the relevant stablecoins that are out there and how they attempt to compete with USD Tether. Will new stablecoins help phasing out the systemic risk that Tether still imposes on the crypto markets with all the trust that we need to put into that one single company of which none of us can confidently say that they aren't in fact fractional reserve banking with their coin.

My article describes these competitors, main characteristics and their current position in the crypto market:
  • USD Tether (USDT)
  • TrueUSD (TUSD)
  • Paxos Standard Token (PAX)
  • Gemini Dollar (GUSD)
  • USD Coin (USDC) by Circle
  • DigiX token (DGX), gold backed
  • DAI token (DAI) by MakerDAO
  • Nomin token (nUSD) by Havven
  • Steem Dollar (SBD)
  • Basis Coin
We will divide those coins into 4 main categories of stablecoins:
  1. Fiat collateralized stablecoins: backed by fiat currencies
  2. Commodity collateralized stablecoins: backed by commodities
  3. Crypto collateralized stablecoins: backed by cryptocurrencies
  4. Algorithmic supply stablecoins: not backed by any assets; stability relies on mathematics
The article also describes the role of stablecoins in the crypto eco-system and future consequences of so many of these entering the market as of this year. The need for stablecoins has definitely increased, because the need to lock in profits has become painfully clear for many due to the bear market.

Read the full article and you will have a very well understanding of the concept of stablecoins and the position that they take in the cryptocurrency markets: https://www.bitcoinforbeginners.io/cryptocurrency-guide/stablecoins-explained-overview/
 
Likes: stellarowl12

stellarowl12

Administrator
Staff member
Jan 30, 2018
80
57
18
#2
Hey everyone, I have been writing an overview of most of the relevant stablecoins that are out there and how they attempt to compete with USD Tether. Will new stablecoins help phasing out the systemic risk that Tether still imposes on the crypto markets with all the trust that we need to put into that one single company of which none of us can confidently say that they aren't in fact fractional reserve banking with their coin.

My article describes these competitors, main characteristics and their current position in the crypto market:
  • USD Tether (USDT)
  • TrueUSD (TUSD)
  • Paxos Standard Token (PAX)
  • Gemini Dollar (GUSD)
  • USD Coin (USDC) by Circle
  • DigiX token (DGX), gold backed
  • DAI token (DAI) by MakerDAO
  • Nomin token (nUSD) by Havven
  • Steem Dollar (SBD)
  • Basis Coin
We will divide those coins into 4 main categories of stablecoins:
  1. Fiat collateralized stablecoins: backed by fiat currencies
  2. Commodity collateralized stablecoins: backed by commodities
  3. Crypto collateralized stablecoins: backed by cryptocurrencies
  4. Algorithmic supply stablecoins: not backed by any assets; stability relies on mathematics
The article also describes the role of stablecoins in the crypto eco-system and future consequences of so many of these entering the market as of this year. The need for stablecoins has definitely increased, because the need to lock in profits has become painfully clear for many due to the bear market.

Read the full article and you will have a very well understanding of the concept of stablecoins and the position that they take in the cryptocurrency markets: https://www.bitcoinforbeginners.io/cryptocurrency-guide/stablecoins-explained-overview/
Great article, I learned a TON!
 
Likes: Adriaan Admin