🧊 And when to use them wisely in your trades?
In the volatile world of cryptocurrencies, many users are looking for a safe haven to preserve the value of their money. This is where stablecoins come into play 💼
So what are stablecoins? And why do traders prefer them? What are the most famous types? Here’s the simplified answer 👇
🤑 What are stablecoins?
These are cryptocurrencies designed to maintain a stable value often linked to the US dollar (USD),
For example: 1 USDT = 1 US dollar (approximately).
✅ Its main advantages:
Reducing risks in a volatile market
Using them as a fast and low-cost transfer method
Protection against the decline in value of other cryptocurrencies
🔝 The top 4 stablecoins you should know:
1. Tether (USDT)
🔸 The most popular of all time
🔸 Backed by cash reserves
🔸 Supported on most platforms
🔹 Currency symbol: USDT
2. USD Coin (USDC)
🔸 Issued by Circle with greater transparency
🔸 Widely used in decentralized finance (DeFi)
🔹 Currency symbol: USDC
3. DAI
🔸 Fully independent and decentralized
🔸 Supported by smart contracts instead of direct dollars
🔸 Issued by MakerDAO
🔹 Currency symbol: DAI
4. True USD (TUSD)
🔸 Associated with a transparent project backed by audit reports
🔸 Available on multiple networks
🔹 Currency symbol: TUSD
📈 When to use stablecoins?
💼 When quickly converting profits
🛡️ To protect against market fluctuations
🔄 When transitioning between trades without withdrawing funds
💰 When wanting to earn returns through Staking or Yield Farming
⚠️ Note:
Not all stablecoins are equal in security and trust, so it's important to check their source and transparency before using them.
🔗 Do you want to start using stablecoins?
Try trading or holding USDT or USDC through your Binance account now 👇
