The most reliable dollar-backed stablecoins

Bitcoin is gaining ground every day, especially in the payment space, where it is gradually being replaced by stablecoins.

A stablecoin is a cryptocurrency whose exchange rate is pegged to one of the world's currencies: the dollar, euro, Swiss franc, Japanese yen, etc.

The implication is that cryptocurrency not only follows the exchange rate of a real currency, but is also backed by the corresponding currency held in bank accounts.

Today, dollar stablecoins are the most popular; they have the highest capitalization and are used for the majority of transactions.

At the same time, there are quite a few similar altcoins, and new ones are appearing every day, so it’s not easy to choose the most reliable stablecoin among dozens of others.

We identify the most reliable US dollar-based stablecoins

Binance USD (BUSD) is a cryptocurrency created by the exchange of the same name and is currently considered the most reliable dollar stablecoin:

100% backed by real currency – funds received when purchasing BUSD are accumulated in US bank accounts. This means that if Binance USD's market capitalization is currently 21.7 billion, the same amount is held in a bank account.

Regulated by the New York State Department of Financial Services, the presence of such controls virtually eliminates the risk of abuse.

Regular audits – audit reports are available at any time on the Binance exchange website

The most profitable way to acquire BUSD is to purchase 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 and daily turnover exceeding $30 billion:

According to Tether's developers, Tether is 74% backed by real funds, meaning that in the event of an emergency, Tether holders can expect to receive 74 cents per dollar. Therefore, in terms of reliability, USDT is still significantly inferior to BUSD.

Cryptocurrency has high liquidity and is accepted as a means of payment almost everywhere that digital money is accepted.

Today, BUSD and USDT are the most reliable stablecoins, not only backed by real money but also enjoying high popularity, ensuring low transaction costs.

You can store your purchased coins on a crypto exchange account or in individual crypto wallets.

I prefer the option of storing it on a Binance account, since you can also get an additional profit of up to 8% per annum if you place stablecoins on an open-ended deposit. Binance website - https://www.binance.com/ru/