The most reliable currency-backed dollar stablecoins
Every day Bitcoin is increasingly gaining ground, especially in the area of payments where it is gradually being replaced by stablecoins.
Stablecoin is a cryptocurrency whose rate is pegged to one of the world currencies, the dollar, euro, Swiss franc, Japanese yen, etc.
It is understood that the cryptocurrency not only follows the exchange rate of the real currency, but it is also backed by the corresponding currency located in bank accounts.
Today, the most popular are dollar stablecoins; they have the highest capitalization and the majority of transactions take place with their participation.
At the same time, there are quite a lot of similar altcoins and new coins appear every day, so it is not easy to choose the most reliable stablecoin among dozens of others.
We identify the most reliable stablecoins based on the US dollar
Binance USD (BUSD) is a cryptocurrency created by the exchange of the same name, today it is considered the most reliable dollar stablecoin:
100% backed by real currency - funds received when purchasing BUSD are accumulated in accounts in American banks. That is, if the capitalization amount of Binance USD is currently 21.7 billion, then the same amount is in the bank account.
Regulated by the New York State Department of Financial Services - the presence of such control almost completely eliminates the risk of abuse.
Regular audits by auditors – reports of audits performed can be viewed at any time on the Binance exchange website
The most profitable way to purchase BUSD is to buy this dollar stablecoin on the exchange website - https://www.binance.com/ru/
Tether (USDT) is the most popular US dollar-based stablecoin today, with a market capitalization of $68.5 billion today and daily turnover exceeding $30 billion:
According to the developers, Tether is 74% backed by real funds, that is, in the event of an emergency, coin owners can expect to receive 74 cents per dollar. Therefore, if we talk about reliability, USDT is still much inferior to BUSD.
Cryptocurrency has high liquidity and is accepted as a means of payment almost everywhere where digital money is accepted.
Today, BUSD and USDT are the most reliable stablecoins, which are not only backed by real money, but are also highly popular, which ensures low settlement costs.
You can store purchased coins on your crypto exchange account or in individual crypto wallets.
I would prefer the storage option on a Binance account, since here you can still get additional profits of up to 8% per annum if you place stablecoins on a permanent deposit, Binance website - https://www.binance.com/ru/