Stablecoins are cryptocurrencies whose price is always equal to 1 USD. Fixed-price coins, also called DeFi tokens, are mostly used to protect assets. Unlike other kinds of cryptocurrencies, their value doesn’t fluctuate with uncontrollable volatility. In this post, we will take a closer look at the best stablecoins for you to invest in. Let’s get started.
The Best Stablecoins For You To Invest In
Stablecoins are actually very numerous. However, some of them are preferred more than others (you can invest in crypto using platforms like crypto genisus). Factors such as the fact that the project advertises more and is present in large exchanges make these coins more preferred. So, what are the most preferred stablecoins? Here are the 10 most preferred stablecoins.
1. Tether (USDT)
Founded in 2014, Tether (USDT) is known as the first stablecoin. The aim of the project is to create a digital dollar or a fixed value cryptocurrency. Tether, whose price is always equal to 1 USD, is the most preferred stablecoin in the market. Tether (USDT) is available on Binance, Huobi, Gate.io, KuCoin, Coinbase and many other global crypto exchanges.
How to Buy Tether (USDT)?
USDT, as we mentioned above, is a coin listed on many cryptocurrency exchanges. By becoming a member of one of the exchanges where it is listed to buy, you can exchange trading pairs. You can trade between BTC/USDT, ETH/USDT, XRP/USDT and other trading pairs.
2. USD Coin (USDC)
USDC Coin (USDC), which is jointly established by Circle and Coinbase, one of the world’s largest cryptocurrency exchanges, is another stablecoin. USDC, whose price is always equal to 1:1 USD, is also a cryptocurrency that investors generally use for the purpose of protecting assets. The purpose of USDC is similar to USDT, but it is evaluated in a wider range. Circle co-founders Jeremy Allaire and Sean Neville make a statement about USDC; It states that it was created with the aim of supporting cryptocurrencies that enable all people in the world to a more efficient and inclusive global market.
How to Buy USD Coins (USDC)?
USDC is listed on many global cryptocurrency exchanges; It is a trading coin on Coinbase, Binance, KuCoin, Kraken, and many other cryptocurrency exchanges. For trading or swapping, first register with one of the listed exchanges, then you can trade with the trading pairs it supports.
3. Binance USD (BUSD)
Among the stable coins, BUSD, which was established as a result of the cooperation of Binance cryptocurrency exchange with Paxos and approved by the New York State Department of Financial Services (NYDFS), is among the most preferred stablecoins. Priced on a par with 1:1 USD, BUSD provides more advantages as it is backed by Binance, unlike other stablecoins. Developed based on ERC20, stablecoin is the third most preferred stablecoin according to coinmarketcap data.
How to Buy Binance USD (BUSD)?
To buy or exchange BUSD, which is only available on the Binance.com cryptocurrency platform, you must first complete the Binance registration process. You can then trade or swap BUSD on all supported trading pairs.
4. TerraUSD (UST)
TerraUSD (UST), which is among the most preferred stablecoins, is a different project than other stablecoins. Developed with the aim of providing value to the Terra community and eliminating the serious scalability problem experienced in other stable coins such as Dai, TerraUSD (UST) was developed with the aim of providing a scalable solution for DeFi. It promises to deliver higher interest rates to users and scalability accuracy and cross-chain usage. In this respect, it is different from other stable coins.
How to Buy TerraUSD (UST)
TerraUSD (UST), which is listed on many global cryptocurrency exchanges, is a coin supported by trading pairs on cryptocurrency exchanges such as Binance, KuCoin, FTX, Huobi, Gate.io. It will be sufficient to become a member of one of the listed exchanges to purchase or exchange.
5. Dai (DAI) Coin
Dai, which is established on the basis of Ethereum and whose price is always equal to 1 US dollar, is among the stablecoins. The stablecoin, which is managed by the Maker protocol and the decentralized autonomous organization called MakerDAO, is mostly used to prevent assets from losing money in the face of fluctuations. Founded in 2019, the coin is managed by MakerDAO and the Maker protocol, meaning it is a decentralized coin.
How to Buy Dai (DAI) Coins?
Again, this stable coin is one of the cryptocurrencies listed on many global cryptocurrency exchanges. As listed on many exchanges such as Binance, Kraken, KuCoin, FTX, Uniswap (V2), ByBit, Dai requires being a member of one of the listed exchanges for purchase. It can then be easily purchased via barter in supported trading pairs.
6. TrueUSD (TUSD)
TrueUSD (TUSD), which was first offered to a limited number of investors in 2018 for the purpose of tokenizing the world’s assets, has achieved significant growth by 2020 to include approximately 400 million dollars worth of tokens. Equivalent to 1:1 USD like other stablecoins, TrueUSD is a coin designed to make increasing liquidity easier to use.
How to Buy TrueUSD (TUSD)?
Listed on many cryptocurrency exchanges, TUSD requires only being a member of the exchanges where it is listed for purchase. To buy stablecoins listed on exchanges such as Binance, Huobi, KuCoin, Bittrex, Poloniex, you can trade and swap in supported trading pairs after creating a membership in one of these exchanges.
7. Pax Dollar (USDP)
Working on the Ethereum blockchain, the Pax Dollar (USDP) is also among the stablecoins. The coin, which was first released in September 2018, aims to maintain liquidity and keep investors’ assets in their hands without loss, as in other stable cryptocurrencies. Developed by Charles Cascarilla and Rich Teo, Paxos Standard is a coin listed on many cryptocurrency exchanges.
How to Buy Pax Dollar (USDP)?
It is listed on exchanges such as Pax Dollar (USDP), Binance, Uniswap (V2), Coinbase, MEXC, WazirX, Bitrue, which are in operation on many cryptocurrency exchanges serving on a global scale. You can trade by registering on one of the listed exchanges in order to exchange or trade.
8. Neutrino USD (USDN)
Neutrino USD (USDN), one of the algorithmic crypto-backed stablecoins pegged to the US dollar, is equivalent to 1:1 US dollars like other stablecoins. The coin, which is traded on many global-scale cryptocurrency exchanges, is a stable coin designed to maintain liquidity and provide advantages to its users in different ways.
How to Buy Neutrino USD (USDN)?
Although not as much as other stablecoins, Neutrino USD (USDN), which is traded on considerable global cryptocurrency exchanges, is a coin listed on cryptocurrency exchanges such as KuCoin, Bittrex, MEXC, Curve Finance, Waves Exchange. To buy or trade, simply sign up for one of the listed exchanges.
9. Frax Protocol (FRAX)
Frax Protocol (FRAX), one of the stablecoins, is a stablecoin whose price is always equal to 1:1 USD. Distinguished from other coins by being the first fractional-algorithmic stable coin system, FRAX is built on a highly scalable, decentralized, algorithmic coin providing basis instead of fixed-source digital assets like BTC.
How to Get Frax Protocol (FRAX)?
It is a stable coin that is traded on cryptocurrency exchanges such as Frax Protocol (FRAX), Uniswap (V2), Gate.io, Curve Finance, Sushiswap, which is not included in large-volume cryptocurrency exchanges as it is new compared to others. To buy, you can become a member of one of these exchanges and exchange with the trading pairs it supports.
10. HUSD (HUSD)
HUSD, which operates as an ERC-20 token on the Ethereum blockchain, is also among the stablecoins. Developed with a focus on security, liquidity and convenience, the crypto money, released by Stable Universal in 2019 in accordance with US legal requirements, was developed to enable users to protect their assets, as in other stablecoins.
How to Buy HUSD (HUSD)?
HUSD, which is listed on global cryptocurrency exchanges such as Huobi Global, MDEX, Pionex, Gate.io, requires membership in one of the listed exchanges to purchase. After completing the membership process, you can exchange it with the trading pairs it supports.
What is a stablecoin?
Stablecoins are cryptocurrencies whose price is unchanged, always equal to 1:1 USD. The general purpose of these is to protect the assets of the investors in the US dollar, instead of the coins with constant price fluctuations such as BTC, ETH.
Are stablecoins reliable?
The only difference between stablecoins and floating coins is that their prices do not change. Many of these are reliable cryptocurrencies as they use the Ethereum-based blockchain system.
How do stablecoins work?
Stablecoins are cryptocurrencies designed to achieve price stability. Backed by a reserve asset, these coins eliminate volatility while ensuring security and privacy.