Cryptocurrency payment platform BitPay has added the ability to convert digital assets into Dollar stabilini Gemini (GUSD) and Circle USD Coin (USDC). This will reduce the risks associated with high volatility of Bitcoin (BTC) and cash (BCH).
Platform BitPay automatically converts the digital assets of Bitcoin and Bitcoin cash in Fiat currency 38 countries of the world, then the money can be transferred to a Bank account. Thus, for the firms that accept payment for the goods or services for cryptocurrencies, eliminating the risk of loss of profit due to volatility of BTC and BCH.
However, the option of automatic conversion is not available for all Fiat money, so many companies from South America and Asia count losses in the event of a sharp fall in the value of digital assets. This problem is solved by using stable cryptocurrency Gemini Circle USD Dollar and Coin. From October 15, companies will be able to take advantage of the Bitcoin exchange and Bitcoin cash in GUSD or USDC. Course both tablconv pegged to the us dollar, so the risk of volatility associated with the change in the exchange rate of the national Fiat currency against the dollar.
2018 – a year of stable cryptocurrency
GUSD and USDC was released about a month ago, and now they give preference to in comparison with the other stable virtual currency – Tether (USDT). This is primarily due to doubts about the reliability of the company-Creator of token USDT Tether. There were rumors that a top cryptocurrency exchanges (including Binance) will soon conduct a delisting coins USDT and will use alternative stabilini. The basis for such statements was abnormal trading activity October 15: a bulk sale of tokens course Tether fell on some platforms to $0.87.
In 2018 was released 6 stable cryptocurrency: TrueUSD in January, Gemini Circle USD Dollar and Coin in September, in July the USD Stronghold from IBM, Paxos Standard and MKR from MakerDAO. Exchange Binance together with OKEx, Huobi Capital and Dunamu & Partners has launched a project called Terra, aimed at the development of the eponymous stablon. All stable digital assets serve two main purposes: to simplify the process of trading digital currencies, and reduce risk to business. However, not everyone is able to perform these tasks, the practice shows that not all stabilini equally reliable and stable.