Among the crypto sphere, we may be able to find different options when looking to keep our money “safe” from dumps. This is one of the reasons why stablecoins appeared first in 2014 (read article). But not every stablecoin is a success, and many of them have failed to prove any real backup or the necessary technology/development during their existence, becoming in just another dead coin. Let’s take a look at the top stablecoins on the market:
USDT, The king:
Beyond all the controversies around Tether.io and Bitfinex, there is no doubt about USDT dominance over its competitors is remarkable.
Having near to 10x the amount of market cap than its competitors and more than 100x the daily volume, it has proven to be the mainstream of stablecoins. (source: stablecoins.live)
USDC, The main competitor:
Centre.io (founded by Coinbase and Circle) has issued its stablecoin that claims to have a fully transparent economy. They are the resistance among the top stablecoins.
“CENTRE stablecoins are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency. Top tier and trusted exchanges accept this cryptocurrency for trading, and vital services providers use it for lending. For more information, check https://stablecoins.live/usd-coin/summary.
TUSD, The first regulated stablecoin fully backed by the US Dollar:
TrustToken takes transparency as their top perk. They have implemented a real-time proof of funds in an escrowed bank account. This means that theoretically, every TUSD circulating is 1:1 against fiat USD.
Their source code is also available for the public on GitHub.
DAI, the world’s first unbiased currency:
MakerDAO focus on a decentralized governance system where community members (Token Holders) can decide about the development of their stablecoin DAI.
With a simple UI hosted on the web, users can vote by staking their tokens.
BUSD: The non-sleeping giant
Paxos and Binance combined forces to launch what they claim to be the most secure and stable cryptocurrency on the ecosystem. They have achieved to issue one of the top stablecoins at the moment.
With Paxos technology and background, and Binance dominance over the market and its popularity, we couldn’t keep them out of the list. It’s a relative new stablecoin yet, but gaining traction with these two companies behind will be easy, and it will be just a matter of time to get a massive adoption of this coin.
No matter what your choice is, always read about the product before using it. To keep track of this top stablecoins and more, visit stablecoins.live