Whats up steemit que lo que!
Jumping right into it a stablecoin is exactly what the name implies.
It is a cryptocurrency meant to be far less volatile that your typical one. In order for a coin to be dubbed a stablecoin it must be backed by a financial asset such as the USD, EURO,or what Venezuela is trying, oil. They are meant to bring security in a market where there isn't a lot of it. Currently a couple to name are TrueUSD, DAI, and Tether.
Just like any other cryptocurrency please make sure you DYOR and don't go throwing all your hard earned money into them. Tether one of the bigger players in the stablecoin market, earlier this year cancelled their audit. Although it may sounds frivolous, but when it is the 15th biggest crypto with a market cap of over 2 billion at this moment... Yeah its a big deal and if they don't have the funds they say they do it can become a huge problem. Well im going to end this on a positive note to prevent people from yelling FUD by posting this cute cat celebrating his birthday.
Just a disclaimer I am not a financial adviser just a guy who loves crypto.
Comment below your thoughts on stablecoins and where you see them taking the market.
