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Different stable coins

After the discovery of cryptocurrency, you can trade with stable currencies as an alternative to hard cash. Mostly, cryptocurrencies are marketed in many cryptocurrency exchanges as there are numerous cryptocurrencies to choose from. In this article, we are going to explore some of the popular stable coins.

• Thether

AT present, the most popular crypto signals in the market of all times are Tether. Thether has been active in the cryptocurrency exchanges and has been gaining immense popularity. Studies show that Tether is the 8th most popular cryptocurrency in the world. It is known to have a market capitalization of $2.83 Billion. The currency has been pegged to USD in a 1:1 ratio - meaning 1 Tether = 1 USD.

• Basis

This is another non-collateralized stable coin. It is said that Basis is perhaps the most famous such type of crypto signals telegram in the market. Foundation, which was formerly known as Basecoin, is also gaining rapid popularity. The currency maintains its stability with the help of an algorithm. A smart contract keeps this algorithm. The supply of Basis expands and contracts based on this algorithm.

• True USD (TUSD)

This is another popular stable coin. True USD has one advantage over Tether which is True USD is more transparent. Both the cryptocurrencies are pegged 1:1 with the US Dollar. True SD’s market cap is 73 Million USD. It stands ranked 88 compared to tether, which is ranked 8th as previously discussed.

• Dai

Dai is another stable coin that comes from Maker. This is a Decentralized Autonomous Organization (DAO). The currency is pegged against the US Dollar. Each Dai is worth USD 1. The system helps to maintain the price stability making is safe to use. However, it should be noted that Dai is bound to bounce higher once Ethereum’s prices rise again.