Stablecoins: What, Why & How To Buy Them | Binance Blog

Let's talk stablecoins. ​ ​ What, why & how to buy 👇

Blockchain Crypto Exchange, Cryptocurrency Exchange

1/21/2022 10:00:00 PM

Let's talk stablecoins. ​ ​ What, why & how to buy 👇

To put it simply, stablecoins are digital assets tied to the value of fiat currencies. Learn all about stablecoins and how to buy them on Binance today.

What Are StablecoinsStablecoins are a class of cryptocurrencies that attempt to offer price stability relative to unpegged cryptocurrencies like Bitcoin. Stablecoins’ market value is pegged to the value of a “stable” reserve asset like the US dollar or gold. For example,

, USD Coin (USDC) and Tether (USDT), are all backed on a 1:1 basis with the US Dollar. One BUSD or USDC or USDT is the same as one US dollar.Why Are Stablecoins Important?1. Stablecoins offers stability in a volatile marketStablecoins provide the same value to crypto investors and traders as fiat currency offers to participants in traditional markets—stability. For instance, while traditional investors might choose to allocate portions of their portfolios to cash or treasury bonds when volatility rises, crypto investors can move to stablecoins.

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Bitcoin Won't be Used For Payments Anytime Soon: Paxos CEOThe chief executive of stablecoin issuer Paxos has explained his reasoning why he thinks Bitcoin will not make it as a widely accepted form of payment.

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to start trading stablecoins and other tokens today. What Are Stablecoins Stablecoins are a class of cryptocurrencies that attempt to offer price stability relative to unpegged cryptocurrencies like Bitcoin. Stablecoins’ market value is pegged to the value of a “stable” reserve asset like the US dollar or gold. For example, , USD Coin (USDC) and Tether (USDT), are all backed on a 1:1 basis with the US Dollar. One BUSD or USDC or USDT is the same as one US dollar. Why Are Stablecoins Important? 1. Stablecoins offers stability in a volatile market Stablecoins provide the same value to crypto investors and traders as fiat currency offers to participants in traditional markets—stability. For instance, while traditional investors might choose to allocate portions of their portfolios to cash or treasury bonds when volatility rises, crypto investors can move to stablecoins. 2. A quick and efficient medium that lets crypto traders move fast in the crypto market Crypto investors or traders often turn to stablecoins under a volatile market climate. Turning to stablecoins allows them to stay in the and enables them to move faster between trades without waiting days to transfer from fiat money. 3. Stablecoins bring more liquidity and volume to the crypto market The stable and efficient nature of stablecoins inspires confidence in the crypto market. Meaning more people are now more comfortable with engaging in the market. The increased market participation has also grown the trading volume and market capitalization. This leads to more liquidity, which makes the crypto market more efficient. Increased efficiency also brings more accurate asset pricing, resulting in fairer asset prices,tighter bids and ask spreads. What Can You Do With Stablecoins? Minimize volatility Assets like stablecoins can give risk-averse buyers and sellers certainty that the value of their tokens won’t rise or crash unpredictably in the near future. For both beginners and seasoned traders, the stable and certain nature of stablecoins makes them a good asset to hold on to or invest in, especially during the bear market seasons. Earn interest Traders and investors can earn interest with stablecoins via lending and staking. When you lend stablecoins, you can earn interest payments from borrowers. Staking is the process by which crypto transactions are verified. And by putting your coins at stake, you have the chance to earn rewards. The more coins you stake, the more you can potentially earn. At Binance, we offer a suite of products to suit your financial needs. For crypto investors, you can choose to buy stablecoins such as