Stablecoins are cryptocurrencies or digital currencies that are pegged to the fiat currency’s value of any country's national currency. Apart from that, they are backed by other cryptocurrencies, assets, and even gold to maintain a stable value. The central aim of Stablecoins was to give its holders high speed, the security of cryptocurrencies, and the stability of fiat currencies. Stablecoins strive to bridge the gap between the stability of fiat currencies and the beneficial nature of cryptocurrencies.
At Blockchain App Factory, we can help you set foot in the billion-dollar Stablecoin market with our services that hold the reputation of being proficient, maintaining international standards. We will assist in developing Stablecoins for various uses. Other services like white paper creation, marketing, landing page design, Smart Contract development, etc., will be undertaken and delivered promptly. Our professionalism and commitment to creating and launching projects within the Blockchain and Decentralized Finance landscape is sure to help you achieve your business goals and make profitable returns.
Stablecoins are digital assets pegged to fiat currencies and other crypto assets just so stability can be maintained. Stablecoins offer the best of both worlds by coupling the speed and security cryptocurrency offers with the stable value that fiat currencies hold. Stablecoins have a wide range of benefits in the likes of safety, speed, and peer-to-peer transactions.
Stablecoins are witnessing tremendous growth these past few years, with the Stablecoin market reaching a total supply of 12 billion. Over 200 Stablecoins have been announced, with more coins still under research and development. So why would someone need Stablecoins?
The cardinal need for Stablecoins is just one factor - Volatility. Global cryptocurrencies like Bitcoin and Ether are highly volatile, which means their value is constantly changing. For example, in 2017, the price of Bitcoin increased by $19,000. This is not sustainable for investors and traders who want the market to be stable. Hence, Stablecoins that can hold the un-volatile value of fiat currencies were created.
These cryptocurrencies functioning in a decentralized environment have other advantages like trust and adding value to the Stablecoins. Cross border transactions can also be made quickly with reduced additional costs.
Stablecoins are broadly differentiated into four types based on the type of collateral they are backed by. As an experienced and seasoned Stablecoin Development company, we can provide solutions in all these types that are sure to keep your users engaged.
Local currencies are susceptible to crashes. Stablecoin holders can trade in the crashed money for UDS backed or asset-backed Stablecoins that retain the value in such a calamity. This is an ideal escape from the instability of fiat currencies.
Stablecoins can be used as the equivalent of fiat currencies and utilized for day to day activities like paying for food, sending and receiving money, and most importantly, used to transfer money overseas without going through the strenuous process of changing currencies. All these activities can be done using a digital wallet with Stablecoins.
Cryptocurrency exchanges do not support fiat currencies. But thanks to crypto-fiat trading pairs, this obstacle can be overcome. This mode of exchanging cryptocurrencies will remove the fluctuation element that accompanies trading crypto like Bitcoin.
With smart contracts used for financial transactions, Stablecoins can be sent and received automatically-without rebutting third parties. This decentralized approach of transferring stable coins can be employed for loans, rents, salary, and subscription transactions.
The total value of Stablecoins has currently surpassed $20 million. The emphasis and gravity Stablecoins hold over the digital asset ecosystem is huge. Creating and launching your own Stablecoins in such a lucrative environment is prudent. If you are a business or entrepreneur looking to earn investors and eager traders’ trust, securing a reliable Stablecoin Development Company is vital.
At Blockchain App Factory, our expertise in all things blockchain and cryptocurrency are evident from our several years in the field and satisfied customers. We are adept at Stablecoin creation, White paper drafting, Stablecoin consultation, and Stablecoin marketing. Our team of dexterous blockchain engineers and tech wizards, market analysts, and designers are connoisseurs in their respective fields whose work guarantees prompt success. Stablecoins are rising to the moment and are providing modern solutions to financial problems, so now is the time to delve into this remunerative sector.
Connect with us soon to partner up and create Decentralized Stablecoins that will ace the crypto market.