By pegging their value to an underlying asset, such as the US dollar, stablecoins offer a sense of familiarity and reliability to investors and users alike.
However, not all stablecoins are created equal and amidst this rapidly evolving landscape, a controversial figure has taken centre stage: Tether (USDT).
Thanks for this. Still processing what I read but it's good to know the better alternatives like USDC and HBD.
#stablecoins have emerged as a vital component in the ever-expanding world of cryptocurrencies.
They act as a bridge between the more volatile cryptocurrencies like Bitcoin or Hive, and the fiat in your regular bank account.
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By pegging their value to an underlying asset, such as the US dollar, stablecoins offer a sense of familiarity and reliability to investors and users alike.
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However, not all stablecoins are created equal and amidst this rapidly evolving landscape, a controversial figure has taken centre stage: Tether (USDT).
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Tether is currently the largest stablecoin in circulation, commanding a significant share of the crypto market.
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Yet, its operations have been shrouded in controversy, casting doubts on its claims of stability and transparency.
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On the blog today, I discuss the issue and take a look at what is Tether actually backed by?
https://peakd.com/hive-167922/@forexbrokr/what-is-tether-usdt-actually-backed-by
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Interesting. It has always been a concern for many and they have almost collapsed a few times over the years.