Besides the cryptocurrency tether, what else is a stable coin?

Blockchain Hat
1 min readMar 1, 2022

--

A “Stable Coin” in THEORY is a cryptocurrency that is backed or pegged to another asset, primarily a FIAT currency. The core problem with 99% of them including Tether is that there is often no way to verify the reserves backing them.

There is also the perennial problem of liquidity — you will always have to find an exchange will to convert them.

Be VERY cautious about investing or using anything claiming to be a “stable coin’ — they are still very likely (illegal) unregistered securities and simply calling it something else will not change that view by the regulators.

Blockchain Hat

Blockchain Hat provide personalized blockchain technology service and solution in a very smart way. We provide enterprise blockchain solutions all over the world. Our popular services are ICO/ST/IDO Development, DEFI Development, NFT Development, Tokenization, Dapp Development, Crypto Marketing service, and many more. Start your decentralized business with Blockchain Hat.

--

--

Blockchain Hat
Blockchain Hat

Written by Blockchain Hat

The first global lost and found blockchain network

No responses yet