🦧 my favorite stablecoins

🪙 what makes them “stable”

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 “stablecoins” 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!

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💡 just curious…

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🙏 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!

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