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Steve
@stevebeachy
Learning Crypto with /sense What is a stablecoin ? A stablecoin is a type of cryptocurrency that's designed to be stable in value, meaning its price doesn’t go up and down a lot like Bitcoin or Ethereum. Stablecoins are made to always be worth around $1.00 (or whatever currency they’re pegged to). How Do They Stay Stable? There are a few main types of stablecoins: Fiat-Backed Stablecoins These are backed by real money in a bank. For every 1 coin, there’s 1 actual dollar saved somewhere. Examples: USDC, USDT Crypto-Backed Stablecoins Backed by other cryptocurrencies (like Ethereum). Example: DAI Algorithmic Stablecoins No real money or crypto backing them. Use computer code (algorithms) to control the supply and demand to keep the price around $1. Why Do People Use Stablecoins? Send money fast and globally Trade on crypto exchanges without using banks Earn interest ( some platforms will pay you for lending them your stablecoins ) Protect against price swings in the crypto market
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IRina 🎩🟣🔵🧬
@iirina
Thank you, dear Steve , for very interesting information🤝😊
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Steve
@stevebeachy
Welcome dear friend ! 🥰
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