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🦧 my favorite stablecoins
www.wiseape.fyi

🦧 my favorite stablecoins

Ape of Omaha
Jun 28, 2022
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🦧 my favorite stablecoins
www.wiseape.fyi

šŸŖ™ what makes them ā€œstableā€

stablecoin: a family of cryptocurrency that’s supposed to provide a stable price through one way or another

  • most stablecoins are pegged to the us dollar one-to-one, meaning 1 stablecoin means $1, at all times, theoretically

  • like in the image above, there are so many different stablecoins that claim to be 1:1 ratio with the us dollar

i only buy these two stablecoins and here’s why:

  • $usdc: for the $55.8B worth of usdc lying around as of writing, there is proof that real us dollars are backing them, 100% of it. that’s right, some ā€œstablecoinsā€ fail to provide that evidence. (#tether)

    • i’ve seen a lot of my friends hold onto usdc on the onjuno app to earn 6% in annual interest, which is far higher than any savings account i can think of

  • $gusd: gemini platform's own stablecoin, still 1:1 ratio

    • yields 6.9% APY

    • i mean, might as well. for beginners, i think that gemini is the easiest platform to pick up on crypto in terms of its user interface design.

that’s it for today! there can only be so many stablecoins i can trust!


šŸ’” just curious…

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šŸ™ closing comments

all of this is just one ape’s thoughts, but I would love to hear what you want to know about! happy trading!




as always, just another ape's thoughts and opinions – i am no financial advisor! (i am no substitute for professional financial services)

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🦧 my favorite stablecoins
www.wiseape.fyi
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