The term “cryptocurrency” encompasses all digital currencies that are built on the blockchain technology. Due to their potential for profitable trading, cryptocurrencies have gained immense popularity among the general population.
Furthermore, there are certain aspects of cryptocurrency that evoke caution and careful consideration among both current and prospective investors, such as its relatively high volatility and unpredictability. These aspects encompass smart contracts, cross-platform interoperability, and remarkably fast transaction speeds.
Moreover, there exist cryptocurrencies that exhibit minimal value fluctuations and are recognized for their stability when compared to Bitcoin, Ethereum, and other digital currencies. These particular coins are commonly known as “Stable Coins.”
To determine the stability of cryptocurrencies, their market capitalizations, which are usually pegged to the value of 1 United States Dollar, are utilized for ranking purposes. In this list of the most stable cryptocurrencies in 2023, we present the top 5 stable cryptocurrencies that are ideal for long-term investments.
Terra, a prominent blockchain platform, offers the stablecoin TerraUSD (UST), which is specifically designed to maintain a 1:1 peg with the United States Dollar (USD), ensuring that its value closely tracks that of one US dollar. With regards to market capitalization, TerraUSD currently holds the 31st position among the most valuable cryptocurrencies.
The main objective behind the creation of TerraUSD is to enable users to earn returns through Luna, a token system that facilitates staking and governance within the Terra ecosystem. Additionally, TerraUSD can be utilized to capitalize on arbitrage opportunities, thereby further enhancing its utility and potential for generating profits.
USD Coin (USDC) is another notable stablecoin that maintains a 1:1 ratio with the United States Dollar (USD). Launched in 2018, it is managed by Coinbase and Circle through the Centre Consortium, a partnership established by the two companies.
As the ninth most valuable cryptocurrency globally, USD Coin (USDC) holds a prominent position in the market. It operates under the principle that every USDC in circulation is backed by a combination of cash, cash equivalents, and US Treasuries, ensuring its stability and reliability.
Binance USD (BUSD) is a stablecoin provided by Binance, the largest cryptocurrency exchange worldwide. It is worth noting that BUSD has obtained approval from the New York State Department of Financial Services (NYDFS) for its usage.
The design of BUSD ensures that 1 BUSD is equivalent to 1 USD, enabling investors to transact with minimal fees when buying or selling this stablecoin. In the global rankings, Binance USD cryptocurrency holds the 19th position.
Tether (USDT) is recognized as one of the earliest stablecoins in the cryptocurrency market, with its inception taking place in 2014. Renowned for its stability, Tether holds the distinction of being the fourth most valuable cryptocurrency based on market capitalization.
The fundamental principle behind Tether is straightforward: each USDT token is equivalent in value to one United States Dollar (USD). This stablecoin maintains a fixed 1:1 peg to the USD. Tether assures that it possesses reserves comprising cash and cash equivalents to back each USDT in circulation.
RoboFi is a blockchain-based decentralized finance (DeFi) platform that provides a diverse range of staking services for various cryptocurrencies, including VICS and Ethereum (ETH). By utilizing RoboFi’s staking services, users have the opportunity to earn rewards on their staked assets.
The rewards obtained from staking with RoboFi are contingent upon the duration of the staking period and the specific cryptocurrency being staked. Generally, opting for longer staking periods yields higher rewards, while shorter periods offer increased flexibility and liquidity. This flexibility empowers users to select a staking strategy that aligns with their investment objectives and risk tolerance.
In addition to staking rewards, RoboFi extends its offerings to encompass other essential DeFi services like decentralized exchanges and liquidity pools. These services grant users enhanced access to cryptocurrency markets and multiple avenues to earn rewards. Overall, RoboFi serves as a comprehensive platform catering to the diverse needs of cryptocurrency holders, providing ample opportunities to generate passive income from their investments.
Robofi is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
I'm Carina, a passionate crypto trader, analyst, and enthusiast. With years of experience in the thrilling world of cryptocurrency, I have dedicated my time to understanding the complexities and trends of this ever-evolving industry.
Through my expertise, I strive to empower individuals with the knowledge and tools they need to navigate the exciting realm of digital assets. Whether you're a seasoned investor or a curious beginner, I'm here to share valuable insights, practical tips, and comprehensive analyses to help you make informed decisions in the crypto space.