Stablecoins are digital assets whose value is pegged to the value of another currency, commodity, or financial instrument. Stablecoins are designed to provide an alternative to the excessive volatility of the most popular cryptocurrencies, such as Bitcoin (BTC), which has been deemed for widespread usage in transactions.
Though Bitcoin remains the most popular cryptocurrency, its price, or exchange rate, is highly volatile. For example, Bitcoin’s price surged from an intraday low of just over $4,000 in March 2020 to almost $65,000 in April 2021 before plunging nearly 50% in the next two months.
All of this volatility is excellent for traders, but it makes everyday transactions like purchases into a risky bet for both the buyer and the seller. A currency that isn’t legal tender must be somewhat stable to function as a medium of exchange, convincing people who accept it that it will maintain purchasing power in the short run.
Moreover, investors want to earn profits which is why they are always looking for the best cryptocurrencies to invest in, especially stablecoins. This is much more critical for a novice investor. We’ll go through the top ten USD-pegged stablecoins for first-time crypto investors in this post.
In a short period of time, Bitcoin has become a household brand and one of the most commonly traded cryptocurrencies. People are ready to invest in this digital coin because of the high returns it has guaranteed to its investors. A newcomer might also consider purchasing this cryptocurrency if market volatility is not a major issue.
After Bitcoin, Ethereum is unquestionably next on the list. This second-largest cryptocurrency by volume has all of the positive characteristics that make it an excellent investment. Thanks to its prospective uses, at least. One of the most compelling reasons why a novice may invest in this cryptocurrency without hesitation is because of the smart contract feature.
USDT, the catalyst of stable coins, has launched on nine major public blockchains, including Bitcoin, Ethereum, Solana, and Tron. As a result, the future of stablecoins is in USDT’s hands, and will soon be in the hands of its users. With the ever-increasing innovations in the blockchain world, Tether Limited and Bitfinex have announced the launch of Tether Miner, a new and revolutionary phase in the blockchain world.
Tether Miner, which is mostly active on the Ethereum blockchain, will operate as a middleman between buyers and sellers for circulating USDT, balancing its supply and demand. This game-changing development will decentralize USDT on the footprint of Satoshi’s aim of having a decentralized currency. Anyone may now participate in the future of stablecoins by purchasing one of Tether’s devices for mining at www.tetherminer.com.
An active Tether Mining device provides anywhere between 100 to 10,000 USDT monthly, depending on which version of the Miner is being used. Due to the liquidity mass and the volume size of USDT in the cryptocurrency market, a limited number of devices will be available for pre-ordering.