Top stablecoins you should invest in 2019
Bitcoin (BTC) has once again proved how volatile it is as an investment after its price has dropped below USD $5,000. But for those who want to invest in cryptocurrencies but are afraid to get their hands on BTC, stablecoin is a good alternative.
This year’s BTC trend is the exact opposite of a trend last year as the infamous crypto value soared to historic highs when it almost reached USD $20,000. BTC’s value suddenly nosedived the following year and somewhat maintained its value within the USD $6,000 to $10,000 range. The lowest BTC price index as of November 22 is only USD $4,365.24 according to Cointelegraph.
Invest in any of these stablecoins in 2019
Crypto investor wannabes who are optimistic in the digital assets’ future may consider investing in TrustTokens or stablecoins, or the cryptocurrencies that are attached to any traditional assets like fiat currencies (USD) or gold bars. An article of Medium said that stablecoins have low volatility unlike BTC and other cryptocurrencies.
Here are some of the best stablecoins you may want to consider investing in 2019:
tether—is one of the most established stablecoins in the market today. Backed by the U.S. dollar, this stablecoin is recognized in most major crypto trading platforms. Its team comprises experienced fintech and retail professionals.
TrueUSD—is a regulated stablecoin that’s linked to the U.S. dollar. Each token has a value of USD $1.00 through an escrow for token owners to have full legal protection. TrueUSD uses open source smart contracts to ensure the consistency of the value of each token.
USD Coin—is another stablecoin that’s backed by the U.S. dollar. It’s a registered Money Services Business that converts USD to tokens and vice versa and can be used with any ERC-20 digital wallet. Well-known trading platform Binance recently said it would list the USD Coin to be paired with other cryptocurrencies.
DIGIX—is a stablecoin backed by physical gold. Each DIGIX (DGX) is equivalent to a gram of gold on the Ethereum platform. The gold bars that support the digital assets are kept inside a vault in Singapore.
EURS—is a stablecoin launched by STASIS that’s backed by the euro currency. Daily balance transparencies and across EURS accounts are ensured by three verification streams.
Stablecoins’ value may change if the value of the corresponding assets they are pegged at changes. The stablecoins mentioned above are just a part of the best stablecoins, rated and reviewed by Bitcoin Market Journal for 2019.
Although stablecoins are worth investing, prospective investors should do their own due diligence before making any move as the stablecoin market is very young. In the near future, stablecoins could also be listed in crypto margin trading sites.