Some Interesting Stablecoins you should Evaluate

In particular, a state government in the United States regulates the Gemini Dollar. Specifically, the New York State Department of Financial Services (NYDFS) approved the Gemini Dollar, Fortune reports.

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Stablecoins as the Future of Cryptocurrency?

However, Stablecoins have a very odd characteristic. Interestingly, dollar-pegged stablecoins’ often trade for more than $1 on many cryptocurrency exchanges. 

For instance, Tether’s (USDT) Coin Price was $1.01 on 4 March 2019. Meanwhile, USD Coin’s (USDC) Coin Price was $1.02 on the same day according to CoinMarketCap. Moreover, BancorX gave CarbonUSD (USD) a Coin Price of $1.02 on March 4, 2019.

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Five Myths about Stablecoins

“When an investor focuses on short-term investments; he or she is observing the variability of the portfolio, not the returns – in short, being fooled by randomness.” – Nassim Nicholas Taleb.

Therefore stablecoins, like most cryptocurrencies are a purely speculative asset. Stablecoin speculators bet that these assets will work as advertised. If stablecoins fail the speculators will lose their money.
Thus, stablecoins are an inherently risky asset based on unproven technologies and business models. Thus only people who can afford to lose money should buy stablecoins.

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