(ThyBlackMan.com) Cryptocurrencies are divided into types: coins, tokens, stablecoins, DeFi tokens, and NFTs. That is the most general classification of digital assets. Sharp and often fluctuations are typical for cryptocurrency rates. It opens enormous earning opportunities for crypto traders, who speculate on crypto prices and make a profit from their changes.
Stablecoins stand out from the crowd in the crypto market for their price is not subject to volatility. Let’s talk about stablecoin and why they are so special.
Popular Assets For Cryptocurrency Exchange
Crypto platforms provide services for cryptocurrency exchange and trading. Large and legitime platforms offer an extensive list of digital coins that can be converted to one another and even to fiat currencies. The most popular crypto on major crypto platforms:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- USD Coin (USDC).
The last two mentioned crypto assets belong to stablecoins. What does it mean? It means their rates are pegged to some fiat currency (US dollar, for example), and overall crypto market fluctuations do not impact them.
Stablecoins are often used for quick and cheap money transfers worldwide. They are preferable to other crypto assets because their value does not change as sharply and frequently as other crypto assets. So a sender and recipient have no misunderstanding about the amount sent.
Another reason why stablecoins are used is to hedge risks while trading. So when the market is dropping, many traders convert their crypto savings to stablecoins to avoid huge price fluctuations.
You can buy cryptocurrency on any large crypto platform like WhiteBIT, Binance, or Coinbase. These are legitime exchanges that offer convenient user interfaces and lots of trading tools. Besides, these platforms are reliable, so you can take advantage of their crypto wallets for fast, secure, and convenient transactions in crypto.
Staff Writer; Larry Harris
