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Virtual currency: Getting to know stablecoin better

31/05/2021
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Stablecoins are cryptocurrencies that recall finance from the Wild West era. They operate on principles that are completely opposite to the rest of the crypto system.

Stablecoin, and in particular the most important of them, Tether, is booming. With 60 billion dollars in circulation, the latter is in third place on the cryptocurrency market, behind bitcoin and Ethereum. Stablecoins are cryptocurrencies that have a unit parity with the dollar, or with another traditional currency, whose value is based on the trust placed in their issuer.
Stablecoin has also become a central part of the cryptocurrency financial infrastructure. According to the data provider Crypto Compare, there is more trading between tether and bitcoin than between bitcoin and all fiat currencies. Note that they are the epitome of “free banking,” the loosely regulated and fraud-riddled system that had a number of small issuers of dollar bills and dominated American finance until government intervention after the American Civil War

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