An Intro to Stablecoins You Can Forward to Your Noob Friends
Stablecoins are cryptocurrencies that have their price pegged to or backed by a stable asset, or group of assets. Most are pegged to fiat i.e. real currency, but some may be pegged to the price of commodities such as gold, or even other cryptocurrencies. Stable coins are generally very stable because of the high stability of the asset they’re pegged to. The market needs to have trust in the asset the coin is pegged to, such as US dollars, gold and oil.
Bybit is one of the fastest growing cryptocurrency derivatives exchanges, with more than a million registered users.
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