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Today, December 18, 2019, the Youtube channel Coin Bureau has published a new content with the title Top Stablecoins Compared Side by Side. If you want to watch this video in streaming, you have come to the right place!
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For your information, you can find below the description of the video Top Stablecoins Compared Side by Side published by the Youtube channel Coin Bureau:
► Top 8 Stablecoins: https://www.coinbureau.com/analysis/best-stablecoins/
► DAI Overview: https://www.coinbureau.com/education/what-is-dai-coin/
► USDC Overview: https://www.coinbureau.com/education/what-is-the-usdc-stablecoin/
► PAX Overview: https://www.coinbureau.com/review/paxos-standard-pax/
► Tether Overview: https://www.coinbureau.com/education/what-is-tether-usdt/
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⏰ Time Stamps ⏰
1:00 Introduction
2:39 1️⃣ USD Coin (USDC)
5:27 2️⃣ Paxos Standard (PAX)
6:48 3️⃣ Dai Stablecoin (DAI)
9:30 4️⃣ TrueUSD (TUSD)
11:38 5️⃣ Tether (USDT)
14:00 Conclusion
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⛓️ 🔗 Website Links 🔗 ⛓️
► Centre Consortium Website: https://www.centre.io/
► Paxos Website: https://www.paxos.com/pax/
► MakerDao Website: https://makerdao.com/en/
► TrustToken Website: https://www.trusttoken.com/
► Tether Website Website: https://tether.to/
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📱️ Helpful Links 📱
► Tether 74% Backed: https://bit.ly/2PA4MFG
► Bloomberg Businesweek Article: https://bloom.bg/34BschS
► Bloomberg Bitfinex Issues: https://bloom.bg/2M9kLIv
► How DAI Stablecoin Works: https://medium.com/tokenanalyst/measuring-maker-dai-stability-f74c23108128
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1️⃣ USD Coin 1️⃣
USDC is one of the largest stablecoins in regards to market capitalization. You’ll usually find it hovering around the top 30 of all coins on CMC.
The coin has seen significant growth since launching in 2018. It was launched by the Centre Consortium, a collaboration of Circle Internet Financial and Coinbase.
USD Coin is backed by a 1:1 fiat currency reserve, which is regularly audited to confirm that proper reserves are available in the appropriate escrow accounts.
USD Coin is an ERC-20 token on Ethereum’s blockchain. As a result, the tokens are easily integrated with Smart Contracts, which lends itself well to lending, investing, payments, and trading.
It’s centrally controlled. You have to place your trust with Circle and Coinbase, which some people are hesitant to do.
2️⃣ Paxos PAX 2️⃣
Paxos started out as an exchange in 2012, but moved toward offering crypto services and products in 2015. A few years later, in September of 2018, PAX coin launched.
PAX has a regular audit to ensure that the company has a reserve balance that lines up with the number of PAX coins in circulation.
PAX typically resides comfortably within the top 50 of all cryptocurrencies based on market capitalization, and is usually one of the top five stablecoins on the market.
PAX was also issued on the Ethereum blockchain which means that it is an ERC20 token.
3️⃣ MakerDAO DAI 3️⃣
DAI is not issued by any centralized authority, and the project does not have control over the coin. DAI does not use fiat currency to back it. The stablecoin uses smart contracts, which are backed by collateralized crypto debt.
DAI is created when a Collateralized Debt Position is created, which locks Ethereum into a smart contract. The contract holds the staked coins, creates DAI, which can then be unlocked at a later time using DAI.
DAI was built by the MakerDAO development team on the Ethereum blockchain. As a result, the stablecoin is secure, verifiable, and most of all, decentralized.
4️⃣ TrueUSD 4️⃣
TrueUSD maintains a 1:1 ratio of its digital coins to the fiat currency it holds in reserve.
TrueUSD also offers complete disclosure regarding how much USD it holds in its reserves.
TrustToken partners with many banks and accounting companies. These partnerships often require third-party auditors to confirm balances, which the company releases to its users.
You’ll typically find TrueUSD in the top fifty of all cryptocurrencies in regards to market capitalizaiton
TrustToken also offers TrueGBP, TrueCAD,TrueHKD and TrueAUD.
It’s also an ERC20 token so you will find it just as easy to send or store as the others we have mentioned.
5️⃣ Tether USDT 5️⃣
Tether was one of the first stablecoins and remains one of the most popular. It's usually in the top 5 in terms of market cap and has extensive market liquidity.
Tether is also quite a controversial coin as there have been many who have questioned whether it is fully fiat backed. There are also concerns that Bitfinex may be tied to it.
Despite some trying times in 2017 and 2018, it has always managed to bounce back to the dollar peg.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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