Everyone wants to buy and own Crytocurrency. We all are tempted to buy crypto but we all have different intentions. Some wants to make more money but people like me simply want to invest in the next generation of technology (Defi) without being subject to the highs and lows. There is finally an answer. Stay with me.
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The clear answer to our demands are stable coins. Stable coins are cryptocurrencies where the price is designed to be pegged to crypto, fiat money, or to exchange traded. commodity. A layman definition of it is simply a coin that is stable and not subject to volatility unlike the ordinary cryptocurrencies.
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Stablecoins are cryptocurrencies without the volatility. They share a lot of the same powers as other cryptos, but their value is steady, more like a traditional currency, i.e. the US Dollar.
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With stable coins, people can maximize the chances of protection from market flunctuations. This is the answer for people like me who want to invest into the blockchain technology without being subject to volatility.
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There are several types of stable coins. There is the Binance USD which is pegged on the US Dollar and is used yo buy bitcoin and trade on the platform.
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Going by my experience, I have noticed that of the four stablecoins; fiat backed, crypto backed, algorithm backed and exchanged commodity backed, the best to hold is a fiat backed currency as it is more stable than other types of stable coin.
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The truth is it might be called stablecoin but this doesn’t mean it won’t witness minimal flunctuation as research has shown that valuables can only be classified into assets and liabilities. It is either it witnesses an upgrade in value or a downgrade.
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I also recently found a stablecoin minting platform called Alkemy. What Alkemy does is to allow the usage of $DARC to mint a stablecoin pegged on multi-fiat currencies that will be used invest into novel crypto assets that would otherwise be very difficult to access.
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Overall, there is no reason to not invest in blockchain technology. Not all investors are subject to volatility as this is the common myth.