What alternatives are available for users looking for stablecoins after Tether's decision to cut ties?

3 answers

• Dec 17, 2021 · 3 years ago
  One alternative to Tether is USD Coin (USDC), which is a stablecoin backed by the US dollar. It is issued by Circle and Coinbase, two reputable companies in the cryptocurrency industry. USDC provides transparency and regular audits to ensure the stability of its value. Users can easily trade USDC on various exchanges and use it for transactions or as a store of value.
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• Dec 17, 2021 · 3 years ago
  Another stablecoin option is Dai, which is a decentralized stablecoin on the Ethereum blockchain. Dai maintains its value through a system of collateralized debt positions (CDPs) and smart contracts. It is governed by the MakerDAO community and is considered to be more decentralized and transparent compared to Tether. Dai can be obtained by locking up Ethereum as collateral, and it can be traded on decentralized exchanges like Uniswap.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a popular decentralized finance platform, also offers stablecoin options for users. They have their own stablecoin called BYD, which is pegged to the US dollar. BYD provides stability and can be used for various DeFi applications, such as lending and borrowing. Users can easily access BYD on the BYDFi platform and trade it on supported exchanges.
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