Stablecoins occupy a special place in the cryptocurrency market. The vast majority of cryptocurrencies are not backed by any assets that have real value. Their exchange rate depends primarily on the balance of supply and demand.
The price of stablecoins is pegged to the price of another asset. The collateral asset can be sovereign fiat currencies, precious metals, or other cryptocurrencies. That is, stablecoins are nothing more than tokenized assets, such as the US dollar. The most famous coin backed by real dollars is the USDT.
Stablecoins act as a link between the traditional financial system and decentralized finance or between technically incompatible blockchains.
What are stablecoins used for?
In the cryptocurrency market, stablecoins perform the same role as fiat currencies in traditional markets. They provide stability during periods of extreme volatility.
In addition, stablecoins make trading easier. You do not have to look for Solana to USD converter, and then wait for the fiat currency transfer. By using stablecoins, traders can stay in the market and keep trading.
There are several digital coins backed by the US dollar on the market. These are USDT, the EPC-20 TUSD standard token, the stablecoin of the Binance BUSD, and the USDC system, which is issued by the Coinbase crypto exchange. Their exchange rate to the dollar is set at a ratio of 1:1, although in practice there may be deviations in the third or fourth decimal places.
Where to convert SOL to USDС
USDС is the native stablecoin of the Coinbase system, which recently entered the TOP-10 largest cryptocurrencies and now ranks 4th in terms of market capitalization. However, the coin is also supported by other crypto exchanges. Let’s consider them in more detail.
The exchange has been operating since 2012. The registration procedure is very simple, the interface is intuitive even for beginners. There are several ways to replenish the deposit, including PayPal and bank transfers. Trading fees within the standard, the size is calculated depending on the volume of trades.
Among the shortcomings, users often name the slowness of technical support.
The exchange has been functioning for a relatively short time, but during its existence, it has become a leader. For this, it has everything: a simple, intuitive interface, low commissions, a huge selection of trading pairs and deposit replenishment methods, and a high level of security.
The site promptly responds to the appearance of new coins and adds promising assets to the listings. When registering an account, verification is required.
The platform was launched in 2018. The exchange is available to traders from all over the world, with the exception of Iran, Cuba, and a few others.
The exchange works anonymously, verification is not required. No commission is charged for depositing funds, while the miner’s commission is provided for the withdrawal.
An fast cryptocurrency exchange service where you can exchange coins without registration and KYS. The platform is available to users from all over the world and supports over 300 coins and tokens.
The site has been operating since 2014. The exchange is licensed in the US and supports margin and spot trading. In total, about 200 cryptocurrency pairs are available.
The exchange is available in most countries of the world. The procedure for registering an account is standard, verification is not required.
To trade on the Raydium decentralized exchange, you just need to connect your crypto wallet to it. The platform supports 216 cryptocurrencies.
Limit orders are available to users. The minimum amount of transactions is not set, the maximum depends on the liquidity reserve. There is no built-in option for depositing and withdrawing fiat currencies.
The exchange has existed since 2013 and is available in most countries of the world. The platform supports margin and spot trading. Among the advantages of ZB.com. – high liquidity, convenient toolbar, and low commissions.
A well-known crypto exchange, which is famous for its reliability. The interface is convenient for both beginners and experienced traders. The platform supports about 150 coins.
New users must create an account, identity verification is not required. Please note that Crypto.com Exchange does not work with fiat currencies.
The exchange was founded in 2014. This platform specializes in trading options and futures and therefore is more suitable for advanced users.
Quite a popular cryptocurrency exchange service. Registration is not required to access the service.
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