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21.11 - 19:35
Stablecoins: What Are Stablecoins And How Do They Work: Here's All You Need To Know About Stablecoins
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ndtv.comStablecoins may be better used as a form of digital cash rather than a speculative investment.
The cryptocurrency market is known for its volatility. This means that the prices of coins can rise and plummet abruptly, which makes it difficult for investors to zero down on a particular coin. However, stablecoin solves this issue. Stablecoins are digital currencies that are backed by assets such as fiat currency, other cryptocurrencies or gold. The stable assets make these coins less susceptible to fluctuations and keep their prices stable. Certain stablecoins also use a computer algorithm to keep their value comparatively stable.
Here's how stablecoins work:
1. The advantage of stablecoins is that they are built to withstand volatility in a way
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