6 BEST STABLECOINS IN 2021 YOU NEVER KNEW EXISTED.
Stablecoins are quite different from most cryptocurrencies like the popular Bitcoin. Would you like to know about some famous stablecoins out there? The best stablecoins in 2021 are those coins that have survived the waves and tides of the horrendous sea.
When you hear stablecoins, there is one major characteristic associated with them. It is how the value is being tied to something different from the normal algorithmic process. The attachment of a reserve is what makes it volatile proof.
So, there are plenty of stablecoins in the market and probably circulating. This post will handle the following 6 best stablecoins in 2021, which you never knew before.
1. PAXOS STANDARD TOKEN (PAX)
The Paxos Standard Token is short-called PAX. This stable coin was built as an alternative to the Tether crypto. Just like the most stablecoins, the PAX is backed by the US Dollar. This quality also makes it among the best stable coins in 2021 for investment.
Also, the PAX coin is stored in treasuries that operate under the government. This coin is also built to run on the blockchain platform for ethereum. It is one stablecoin that has gained the New York state’s approval, especially the financial department.
However, For the fast-developing crypto space, this has been perceived by many as a huge plus. In-fact the PAX stablecoin is not just one of the most used coins in the market. It is also one of the best stable coins in 2021 and beyond.
At the rate at which this coin is growing, it is soon to become the most popular in a short while.
Lots of individuals have also shown satisfaction concerning PAX being trustworthy. Some even believe that this coin is soon to replace the tether(USDT)
2. The TrueUSD (TUSD) STABLECOIN
True USD is one stablecoin that has kept the tough fight between itself and Tether(USDT). Surprisingly, this coin has not only competed favorably but seeks to overthrow the USDTcrypto
Additionally, as much as the TUSD is not circulating rapidly, this coin seems more promising regarding transparency. A collaboration with a United States Accounting group seems to be a smart move. This was done to enable close monitoring of assets.
This stablecoin can also serve as a second option for purchasing traditional FIAT. That is to say that individuals outside the US who wish to purchase Dollars can go for this second option. Lots of individuals have also voted this currency as one of the best stablecoins in 2021.
3. TETHER (USDT) STABLECOIN
This is also one of the best stablecoins in 2021 circulating presently. USDT also has the backing of the United States Dollar, which also makes it volatile proof.
This stable currency is one of the first stablecoins to have existed. Now over 94% volume of all stablecoin tradings is done with the Tether coin. Traders now prefer Tether, probably because it track-records their investments for them. Most merchants combine this currency with ethereum for utility. Generally, It is felt as a localized dollar.
Why is the tether considered the best stablecoin in 2021? It is because of its ability to be converted to other assets. It does not even need to pass through other cryptocurrencies like bitcoin.
The parent company of this cryptocoin is BitFinex, and this coin asset is not audited. As a result, lots of experts have raised objections, as this act is suspicious. However, nothing has come off it as even lawsuits came to nothing.
The tether is currently rated equal to the Dollar on a 1:1 ratio scale. All this proves that this is one of the best stablecoin in 2021 around the world.
4. THE BINANCE (BUSD)
The Binance crypto otherwise called BUSD is the brainchild of the Binance exchange company. This coin was set up by a collaboration of companies.
The most popular companies that had hands in this were the Binance Exchange and the Paxos trust company. The PAXOS Company is also the team that set up the earlier mentioned Paxos stablecoin.
This coin is one of the best stablecoin in 2021 powered by ethereum but has the Dollar as its asset. Merchants who trade with this coin have also expressed great satisfaction resulting from received discounts.
The news is now all over the place that benefits and discounts are attached to trading the BUSD.
This currency also helps in the payment of trading fees on the exchange. Probably that is why it is held in US banks that are FDIC insured. Not only is binance the largest exchange globally, but it is also one of the best stablecoins circulating in 2021.
Forgetting, not to mention, the BUSD permits you to earn just by stacking them up. So the longer funds are locked in, the more it increases its value by providing INTERESTS.
5. GOLDCOIN CRYPTO
The Goldcoin is one of the best Stablecoins backed by Gold assets. This cryptocurrency is backed by the Ethereum blockchain network, while it allows the purchasing and holding of assets. These assets are held form of the cryptocurrency.
You may start to wonder about the essence of buying Goldcoin instead of the traditional Gold asset. The reason why this should be preferred is because of how you need not worry about security. The Goldcoin allows the purchase of Gold in fractional units and still secures it in high-security vaults free of cost.
Should you demand payments in physical Gold Bars that Goldcoin guarantees? The only issue is the rigorous process where you will have to provide identity. This, however, discourages merchants from investing. Aside from this issue, the anonymous purchase of Gold through the Goldcoin is the fastest and safest means.
As a result of these qualities, calling the Goldcoin under the best stable coin in the 2021 group is verified.
6. FACEBOOK DIEM STABLECOIN
The Facebook Diem looks as if it might top the rank of best stablecoins in 2021. Although this stablecoin is not yet in circulation, there is no need for doubt with the preps being made.
This coin was known as the Facebook Libra in 2020 but changed to Diem in 2021. Since the world keeps growing smaller resulting from technological advancements, local currencies might be inefficient in time to come.
In a Global village, there should be a universally accepted currency. A lot of experts predict that cryptocurrency will be the new normal as regards easy exchange.
If the truth should be told, such statements are either true or not far from it.
If you have any questions left, feel free to drop in comments section for quick responses.