Review on USD Coin by Maximiliano Aquino
USD Coin
USD Coin is a stablecoin just like USDT or TUSD, it was founded by Circle & Coinbase with support from Goldman Sachs. A project that is not decentralized and based on a fiat currency, what can this mean with respect to cryptocurrencies? Why would people use USD Coin? In terms of currency it is a cryptocurrency that uses all the benefits of the blockchain but is stable as a fiat currency in terms of value. The USD Coin can be used as a currency to buy other cryptocurrencies since its value is paired with the dollar. stablecoin in addition to being able to make high volume transfers in a matter of seconds using the benefits of a blockchain system.
Pros
- stable currency and supported by large cryptographic companies
- traded on several exchanges and on several pairs
Cons
- a non-decentralized project with many similar projects
New products
Comments (1)
June 17, 2020
For me, stablecoins with USD Coin are used to replace fiat currencies in transactions within the blockchain, this makes it much easier for those who, for example, trade and want to buy coins and do not want to waste time depositing fiat coins. I think that in financial terms it doesn't have much to offer in the crypto market.
