• Latest
Stablecoins Continue To Make Waves As Businesses Seek Crypto Solutions

Stablecoins Continue To Make Waves As Businesses Seek Crypto Solutions

January 30, 2020
Bitcoin Turns Beautiful Over $50K, Why BTC Extend Its Rally

Bitcoin Turns Beautiful Over $50K, Why BTC Extend Its Rally

March 8, 2021
How to Evaluate Your Investing and Financial investment Good results

How to Evaluate Your Investing and Financial investment Good results

March 7, 2021
Why Bitcoin Price tag Could Start Strong Boost Over $50K

Why Bitcoin Price tag Could Start Strong Boost Over $50K

March 7, 2021
Ethereum Climbs previously mentioned $1,600, Why ETH Could Quickly Check $1,720

Ethereum Climbs previously mentioned $1,600, Why ETH Could Quickly Check $1,720

March 7, 2021
Bitcoin nerves, Tesla told to dump crypto, NFT madness

Bitcoin nerves, Tesla told to dump crypto, NFT madness

March 6, 2021
Ripple Secures 15 New Contracts With Banking Institutions Regardless of Ongoing Lawsuit Battle

Ripple Secures 15 New Contracts With Banking Institutions Regardless of Ongoing Lawsuit Battle

March 6, 2021
Ethereum and Bitcoin Search “Bullish” Right after Withstanding “Macro Beating”

Ethereum and Bitcoin Search “Bullish” Right after Withstanding “Macro Beating”

March 6, 2021
Bitcoin Loses Bear Market Trendline Against Altcoins

Bitcoin Loses Bear Market Trendline Against Altcoins

March 5, 2021
How Paradox Group Is Assisting DeFi

How Paradox Group Is Assisting DeFi

March 5, 2021
What does the frog meme? – Cointelegraph Magazine

What does the frog meme? – Cointelegraph Magazine

March 5, 2021
Aim Remains on Greenback and Yields

Aim Remains on Greenback and Yields

March 5, 2021
Cryptocurrency exchange Bybit shuts up shop in British isles in compliance with FCA ban

Cryptocurrency exchange Bybit shuts up shop in British isles in compliance with FCA ban

March 5, 2021
  • Home
  • Coin Market Cap
  • ICO Live
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • ICO
  • Business
CoinNewsDaily
  • Home
  • Coin Market Cap
  • ICO Live
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • ICO
  • Business
No Result
View All Result
  • Home
  • Coin Market Cap
  • ICO Live
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • ICO
  • Business
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Alt Coin

Stablecoins Continue To Make Waves As Businesses Seek Crypto Solutions

coinnewsdaily by coinnewsdaily
January 30, 2020
in Alt Coin
0
Stablecoins Continue To Make Waves As Businesses Seek Crypto Solutions
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Gemini Review | Crypto-News.net

Gemini Review | Crypto-News.net

September 29, 2020
Crypto market crash may have been the result of market manipulation

Crypto market crash may have been the result of market manipulation

August 2, 2020

As platform development rapidly accelerates, stablecoins continue to occupy a unique place within the blockchain space. These digital currencies, which are backed by hard assets, are widely derided by crypto purists. Nevertheless, as a means of storing and transferring wealth their popularity is growing rapidly. Now a number of recent moves indicates that they are becoming legitimate competitors to standard cryptocurrencies.

Most stablecoins are anchored to either a strong fiat or gold. As such, their owners cannot expect to enjoy quick profits if their popularity grows. This fact also ensures that these digital currencies remain immune from the price volatility that is endemic to the crypto market. One key advantage of stablecoins is that there is no financial incentive to hold them, and thus they are far more likely to be spent by their owners. A wide range of financial institutions are taking notice, even those that focus on the crypto space. For example, payment processor Bitpay has begun to integrate stablecoins into its service offerings. Stablecoins are also increasingly available at crypto ATMs, and a number of remissions-based services have begun to embrace them.

There appears to be a growing acceptance of stablecoins from businesses and retailers, who wish to embrace cryptocurrency yet recognize that their customers remain tied to fiat. Booking.com now accepts Tether, as does adult video site PornHub. The later has embraced Tether as a result of a ban by PayPal, thus demonstrating the advantages offered by decentralized currencies. The legacy financial space, which thus far has largely shunned blockchain assets, is beginning to warm to the idea of stablecoins, primarily because these digital assets are much more capable of integration into current economic frameworks. A number of economists have recently begun to speak positively of their potential to eliminate friction in areas such as international transfers, as well as their ability to securely store value, much as precious metals have done for centuries.

As is the case with standard cryptocurrencies, stablecoins are presently unregulated. Many are centrally controlled, and most have yet to prove the existence of their backing funds via independent audit. These shortcomings introduce very real risk to investors. Notably, Tether, the most popular, is extremely secretive about its secured assets, and is presently the subject of multiple class action lawsuits over this issue. Long-term success of stablecoins will certainly require legal recognition, along with regulations designed to protect investors and prevent fraud. Nevertheless, such moves also draw the ire of many crypto advocates, who assert that regulating digital currency could quickly lead to censorship and government overreach. This is the same criticism leveled at central bank digital currencies (CBDCs) as well as the current electronic banking system.

The growing popularity of these unconventional digital assets demonstrates the tremendous diversity of the crypto space. There is no single platform that can presently claim superiority, and promoters of stablecoins as well as those of conventional cryptocurrencies both have valid arguments to support their positions. Moving forward consumer behavior and the free market will ultimately decide their fate.

 

Featured Image via BigStock.

Credit: Source link

Share76Tweet47
Previous Post

Nomura Launching Benchmark for Japan’s Crypto Assets

Next Post

Few Banks Will Touch Crypto Firms, but Silvergate Wants to Touch Bitcoin Itself

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Gemini Review | Crypto-News.net
Alt Coin

Gemini Review | Crypto-News.net

September 29, 2020
Crypto market crash may have been the result of market manipulation
Alt Coin

Crypto market crash may have been the result of market manipulation

August 2, 2020
Lebanese Bitcoin Scammer’s Identity Revealed After Two Years of Covert Cybersecurity
Alt Coin

Lebanese Bitcoin Scammer’s Identity Revealed After Two Years of Covert Cybersecurity

July 3, 2020
Bitcoin Offshoots: Bitcoin Cash, Bitcoin Gold and Bitcoin Private
Alt Coin

Bitcoin Offshoots: Bitcoin Cash, Bitcoin Gold and Bitcoin Private

June 10, 2020
Tezos can settle ICO related lawsuit for $250 million in cash
Alt Coin

Tezos can settle ICO related lawsuit for $25 million in cash

June 8, 2020
Tezos can settle ICO related lawsuit for $250 million in cash
Alt Coin

Tezos can settle ICO related lawsuit for $250 million in cash

June 2, 2020
Load More
Next Post
Few Banks Will Touch Crypto Firms, but Silvergate Wants to Touch Bitcoin Itself

Few Banks Will Touch Crypto Firms, but Silvergate Wants to Touch Bitcoin Itself

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • Ripple
  • Tech
  • Trading

What New here?

  • Bitcoin Turns Beautiful Over $50K, Why BTC Extend Its Rally
  • How to Evaluate Your Investing and Financial investment Good results
  • Why Bitcoin Price tag Could Start Strong Boost Over $50K

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2020 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • ICO Live
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • ICO
  • Business

© 2018-2020 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$51,001.00
  • ethereumEthereum(ETH)$1,754.38
  • cardanoCardano(ADA)$1.16
  • tetherTether(USDT)$1.01
  • rippleXRP(XRP)$0.469153
  • litecoinLitecoin(LTC)$192.04
  • bitcoin-cashBitcoin Cash(BCH)$523.54
  • stellarStellar(XLM)$0.416398
  • dogecoinDogecoin(DOGE)$0.056542
  • nemNEM(XEM)$0.71
  • moneroMonero(XMR)$210.31
  • vechainVeChain(VET)$0.057519
  • eosEOS(EOS)$3.90
  • tronTRON(TRX)$0.051801
  • iotaIOTA(MIOTA)$1.33
  • neoNEO(NEO)$39.69
  • dashDash(DASH)$217.72
  • zcashZcash(ZEC)$131.63
  • zilliqaZilliqa(ZIL)$0.118978
  • ethereum-classicEthereum Classic(ETC)$11.74
  • iconICON(ICX)$1.90
  • wavesWaves(WAVES)$10.12
  • ontologyOntology(ONT)$1.05
  • iostokenIOST(IOST)$0.045131
  • omisegoOMG Network(OMG)$5.15
  • loopringLoopring(LRC)$0.57
  • nanoNano(NANO)$5.22
  • qtumQtum(QTUM)$6.31
  • siacoinSiacoin(SC)$0.011365
  • bitcoin-goldBitcoin Gold(BTG)$29.43
  • liskLisk(LSK)$3.22
  • vergeVerge(XVG)$0.022201
  • statusStatus(SNT)$0.088587
  • bitcoin-diamondBitcoin Diamond(BCD)$1.06
  • steemSteem(STEEM)$0.455841
  • bitsharesBitShares(BTS)$0.056344
  • stratisStratis(STRAX)$1.52
  • bytomBytom(BTM)$0.086543
  • wanchainWanchain(WAN)$0.87
  • populousPopulous(PPT)$2.86
  • aionAion(AION)$0.194110
  • aeternityAeternity(AE)$0.254755
  • hshareHyperCash(HC)$0.65