Stablecoins Explained For Dummies! (Overview Of Cryptocurrency Stablecoins)
Stablecoins are an important part of the crypto world since they provide much needed stability and protection against the currently volatile nature of cryptocurrencies. There are 4 categories of stablecoins - fiat collaterialized, commodity collateralized, crypto collateralized, and algorithmically controlled supply. USD Tether (USDT) is the best known one, but there are actually over 30 stablecoins out there in the market. Most of them are young and have various differences in terms of their mechanism, but it should be interesting to see how they evolve and mature as time elapses. Some of the stablecoins covered in this video include: USD Tether (USDT), TrueUSD (TUSD), Paxos Standard Token (PAX), Gemini Dollar (GUSD), USD Coin (USDC) by Circle, DigiX token (DGX), gold backed, DAI token (DAI) by MakerDAO, Nomin token (nUSD) by Havven, Steem Dollar (SBD), Basis Coin.