RE: RE: All in crypto? Are stable tokens secure enough for our life savings?
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RE: All in crypto? Are stable tokens secure enough for our life savings?

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Regards esteemed friend dana-edwards@dana-edwards.

Stable refers to a value that remains constant or unchanged. Then c When we talk about stablecoins we must identify what is the form of support or reference taken to consider that stability.

Namely we can find three modalities:

  • Backed by Fiat.
    If we pretend to be "all in crypto" this type of backup would seem a contradictory option.

  • Backed by commodities or raw material.
    When we talk about Gold support, for example, this would be a sensible option. Especially when the companies that issue their tokens allow periodic audits to certify their reservations. In Colombia there is a startup with a stable token backed by "Emeralds".

  • Backed by Cryptoactives.
    Stabilization scheme widely used but based on a very complex economic system. However, this system has the vision of detaching itself from the centralism of supporting stablecoin using fiat currency.

Definitely, Stablecoins are a sensible alternative when it comes to safeguarding our assets and keeping us "all in crypto."

Thanks for sharing.

Your friend, Juan

@juanmolina: Regards esteemed | Ecency