Cryptocurrencies were created with a vision to provide everyone in the world with financial freedom and independence from centralized monetary system. We are gradually moving towards the goal however, there is still perhaps quite a long way to go before we can actually materialize the vison. One of the reasons that is inhibiting the adoption of cryptocurrencies in our day to day life is the volatility of the value of crpytocurrencies. Mass adoption is not possible with such volatility. For everyday usage, these assets need to be more stable in terms of its value. No merchant would agree to accept cryptocurrency if its values change a lot. Thus, Stablecoin cryptocurrencies came into existence.
Stablecoin cryptocurrencies are a new type of cryptocurrency whose prices are stable as opposed to the volatility of other cryptocurrencies like Bitcoin and Ethereum. These cryptocurrencies are pegged to real-world currencies such as USD, EUR, etc. We have outlined a few top stablecoins currently available in the market as well as their contenders below.
Disclaimer: The purpose of this list is not to pick the ” best ” cryptocurrency. The fundamental purpose of this list is to encourage community engagement and intellectual debate among the supporters of different cryptocurrency projects. By bringing supporters of different projects together, we hope to unravel the actual value and sentiment of each project via civilized debates. p.s. Nothing in this article should be treated as financial advice.
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