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All you need to know about the second largest stablecoin

All you need to know about the second largest stablecoin

You cannot think of modern life without technologies, especially the Internet. The breakthrough in technology with the development of the Internet has changed many aspects of our lives. For instance, the financial and economic spheres. Namely, the emergence of cryptocurrency as a separate method of payment. So today’s topic is cryptocurrency, and the largest stablecoin

The economic sphere has not been left out either, where settlements between the participants play an important role. It is quite clear and natural that the idea of ​​creating a digital currency arose in the digital world. This idea originated in 1997 when engineer Wei Diyem proposed the concept of B-money in his article. It was about creating a digital currency, which should be based on anonymous monetary pseudonyms. The successor, Nick Sabo, has considered an alternative information currency that should replace existing currencies. His idea was to create a decentralized cryptocurrency. Of course, these ideas became the basis for future cryptocurrencies, but have not been directly implemented.

The history of the real crypto market begins in 2009, this year Satoshi Nakamoto offered the world the first block of the Bitcoin network. If you want to buy crypto with a Visa debit card, read this brief article till the end.

USD coin.

With the advent of the first cryptocurrency, the trend became quite clear. The emergence of new and new cryptocurrencies on the market turned out to be natural. The most famous today are the following cryptocurrencies: BitCoin, USDcoin, NameCoin, LiteCoin, and PPcoin. Note an important detail, all these cryptocurrencies are unsecured. Except one.

What about USD Coin? How is this cryptocurrency different from others? The main feature of this currency is that it is actually a digital analog of the national currency of the United States of America. Thus, the exchange rate of this currency directly depends on the exchange rate of the US dollar. This type of currency is called stablecoins, and the currency on which the stablecoin exchange rate depends. USD Coin does not depend on other cryptocurrencies.

The easiest way of buying crypto

  • To create a crypto card wallet you need to check the card to see whether it supports cryptocurrency purchases and what costs it imposes. (For more information, see the cash-advance penalty section.)
  • Find a cryptocurrency exchange that accepts credit card purchases. Some of the bigger ones don’t.
  • Input your credit card details and link the card to your exchange profile to fund your crypto account. It’s comparable to the procedure of buying services or goods online and filling out the payment form at the checkout.

Who is the inventor of the USD Coin?

Officially, the USD Coin was launched only in 2018. Thus, this cryptocurrency is the youngest of the stablecoin currencies. USD Coin is a product of Center Consortium, which in turn combines the efforts of two companies – the cryptocurrency exchange and Circle IF.

And now about the benefits of USD Coin

USD Coin offers complete dependence on the United States dollar.

USD Coin is a token that makes it almost impossible for sellers and buyers to lose assets. The USD Coin is always equal to 1 US dollar. Of great importance is the reliability and reputation of the partners who ensure the functioning of USD Coin. This is a kind of additional security and guarantees for the participants in the process. The advantage of the USD Coin over the real dollar is its immutability. That is, buying 1 USD Coin, in the future and selling it for 1 USD.

All these advantages allow USD Coin to rapidly increase its share in the cryptocurrency market.

How does the modern world react to the emergence of cryptocurrencies?

It should be noted that the governments of modern states are ambiguous and somewhat wary of the emergence of new currencies that have replaced electronic ones.

What does not allow you to easily accept the emergence of a new world of calculations? The main concerns can be formulated as follows:

-instability of cryptocurrency prices, which potentially threatens risks to buyers

-the danger of storing crypto assets

-the anonymity of the crypto-asset market, which contributes to the development of the shadow market

-lack of tax schemes in this area

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