bitFlyer is the number one cryptocurrency exchange by Bitcoin
volume in Japan and offers an array of cryptocurrency assets to trade. The exchange is designed with two trading platforms, ‘Easy Exchange’, a simple and user-friendly design primary for the exchange between JPY and BTC and ‘bitFlyer Lightning Platform’, built and designed for advanced cryptocurrency traders in mind.
Both inflation and deflation need to stay under control. For a currency to work, it has to reliably store value. Savers need to feel confident that the amount of money they put in the bank on Monday will reasonably reflect their wealth on Friday.
As of August 2016, the exchange had over $160 million transactions per month. Coincheck has a license to operate as a digital currency exchange in Japan and is audited by the Japan Blockchain Association. Coincheck is one of Asia’s biggest cryptocurrency exchanges and processed the highest volumes of Bitcoin trading in Japan over the course of 2017. It’s also a member of the Japan Virtual Currency Business Operator Association and the General Association of FinTech.
Fiat-backed stablecoins offer better stability, especially compared to crypto-backed stablecoins. While cryptocurrencies come with wild price fluctuations, fiat-backed stablecoins come with minimal price fluctuations, as there’s a trusted currency behind them. Fiat-backed stablecoins are associated with a particular fiat currency: US dollars, Euros, etc.
As the name suggests, these are stablecoins "backed" by other crypto assets. Because cryptocurrency prices can be volatile, crypto-backed stablecoins are overcollateralized (meaning they keep extra crypto in reserves, in case of a market crash).
In this case, the more likely scenario is a test of the mirror level at $25,400 by the end of the current month. From the midterm point of view, the main cryptocurrency is about to close the weekly candle bullish, confirming buyers' presence.
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Dollar The team backing Paxos is a mixed-bag with a wealth of expertise from tech and finance backgrounds PAX is backed 1:1 by a reserve of USD. held in an escrow account by third parties. With only two minor deviations, the price has remained stable within $0.02. 5 True USD True USD is a one-to-one stable currency that pegs its value to $1 U.S. 4.5 USD Coin USDC is a full reserve dollar stablecoin issued by the CENTRE Consortium. Dollar The young team behind this project boasts some of the most impressive technology names in the field, albeit with little financial experience Escrow: Each True USD is backed by $1 U.S. invested in an owned account. Qualifying institutions can participate in the True USD system, eliminating the need for trust in a central project (albeit replacing that with the need for trust in third-party accounting). While the oversight of CIRCLE can insure against value fluctuation, allowing third parties to independently issue the USDC does invite potential concerns of individual error or bad actors. Dollar The CENTRE and CIRCLE team have founded and helped run numerous high-profile technology companies including Brightcove and Macromedia. Dollar at a 1-to-1 ratio. Collateralized: Each USDC token has a corresponding $1 U.S. 4.5 Dai Dai is a decentralized stable currency which is pegged to the U.S. It has made up for this lack by hiring other executive-level talent with a deep bench of relevant experience. Decentralization will be ensured by allowing numerous different projects to join a network of USDC issuers overseen by the CIRCLE project, each of which maintains its own cash reserves to stabilize the tokens it issues. Collateral Against Ethereum: To create Dai tokens users have to purchase and stake an equal value (in U.S. As the price of Dai rises, users will be incentivized to create more. As the price falls, users will be incentivized to sell their assets back to the pool. Dollars) of Ethereum tokens. 4.5 GUSD Created by Gemini cryptocurrency exchange, the Gemini USD stablecoin claims to be the first U.S. Dollar-backed stablecoin to receive approval from a U.S. Name Description Year Founded Number of social followers Stabilized Asset Quality of Team Stabilization Mechanism Score PAX Standard Paxos Standard Token is a payment platform complete with the PAX stablecoin backed 1:1 to the U.S. Collateralized: GUSD is backed 1:1 by real dollars in reserve, with monthly audits. The utility of this over purchasing gold outright or an options contract remains uncertain, but the mechanism is sound. Dollar MakerDao's Founder has almost no experience, having graduated in 2014. Dollar Gemini was founded by Tyler and Cameron Winklevoss, two Bitcoin billionaires with a rich background in business.This trickles down to the team who collectively possess high levels of experience. 4.5 Digix Digix takes the idea of a blockchain gold standard literally, promising that each DGX token represents 1 gram of actual, solid gold in a vault in Singapore. Asset-Backed: cryptocurrency A Digix token is minted once the underlying Proof of Provenance protocol confirms that a corresponding ounce of gold is in the vault. 2016 17,600 Gold Digix is run by a team with extensive experience in both finance and blockchain development at some of the world's largest firms. regulator and aims to be the most transparent stablecoin on the market. Dollar As the world's leading cryptocurrency exchange, Binance in partnership with Paxos have a wealth of industry-leading expertise. Collateralized: Each BUSD is backed 1:1 by a reserve of dollars held in the Paxos account. 4 Binance USD Developed by Binance, one of the largest cryptocurrency exchanges in the world, BUSD is a fully-regulated stablecoin backed by U.S. Collateralized: Every HUSD token is backed by U.S. 2020 736,600 U.S Dollar Singapore-based exchange Huobi has relished a market-leading position for some years. dollars, issued via the Paxos Trust Company. 4 Huobi USD Huobi is one the Asia's largest cryptocurrency exchanges, and in partnership with Stable Universal, the firms issued the HUSD stablecoin token as a means to uncouple for pre-existing 3rd party stablecoins, as well as gain exposure in DeFi markets and platforms. The company's founders have a range of professional experience, ranging from fintech to retail. Dollar Bloomberg, among other outlets, has published very serious questions regarding the accounting practices of Tether. invested in an owned account. The price has fluctuated within approximately 25 percent since inception. Collateralized: Each Tether token has a corresponding $1 U.S. As per the website, each token is backed by one fine troy ounce (t oz) of a gold bar. dollars held in reserves by a regulated trust company. While serious questions have been raised as to the company's accounting practices in this regard, the token's price has remained stable within $0.05. 4 PAX Gold (PAXG) PAXG is an Ethereum-based digital asset backed by gold. 4 Stably USD Stably is a cryptocurrency pegged to the U.S. In this case, if you own PAXG, you also own the gold that backs it. The team backing Paxos is a mixed-bag with a wealth of expertise from tech and finance backgrounds. 4 Tether Tether is one of the most well-known, valued, crypto and reliable stablecoins on the market. Collateralized: Stably will hold $1 U.S. While they have little background in blockchain, cryptocurrency their c-level leadership has worked with impressive firms in this space.