Since https://myspace.com/tokenvdhn265 of an exclusive operation in Ukraine, Russians began to purchase stablecoins in large quantities. Let’s see why this cryptocurrency is so popular, how to get it and what it has to offer to us in the wake of sanctions.
What is a Stablecoin?
To calculate the price of products and services in offline environments, people use fiat money. But the world of cryptocurrencies comes with its own set of metrics, such as the volume of transactions on the blockchain and block size, hashrate, and the list goes on. We have created digital assets that are linked to fiat currencies, precious metals to help understanding of the features of blockchain.
Stablecoins refer to digital coins that are linked to USD (the value of the US currency) in a ratio of 1:1. Tether introduced the first stablecoin in the year 2015, USDT. There are also other stablecoins that are available, like Circle’s USDC or BUSD issued by Binance cryptocurrency exchange. The creator company is marked by the letter ‘C’.
With the help of stablecoins, savings in fiat can be easily converted to digital currency that can be immediately exchanged or invested. Stablecoins are also a great way to save money on your cryptocurrency savings. During periods of high volatility, you could convert cryptocurrency into stablecoins to wait for better conditions. Stablecoins offer the benefit that they are able to be used during situations when the exchange rate is not stable and buying one is difficult.
What is ada криптовалюта why demand for stablecoins risen?
Over the past two weeks, the demand for cryptocurrency as a means to protect savings has jumped in Russia. The number of cryptocurrency users has increased as and the volume of ruble deposits made on exchanges that deal in cryptocurrency. Stablecoins, particularly USDT are the second most popular cryptocurrency, after bitcoin.
Statistics from various trading platforms indicate that the volume of customers has increased from 2 to 3 times over the last three months since February. Because the stablecoin is a replacement for money American dollars (which it isn’t able to buy right now) The demand for USDT has outpaced the demand for bitcoins and the other prominent cryptocurrency.
EXMO the cryptocurrency exchange platform reported an increase of huge amounts of ruble deposits. Binance has stopped accepting Visa and Mastercard Russian banks cards.
The ease of using cryptocurrency and stablecoins to facilitate transfer of money between countries is a big advantage for Russians who have visited to other countries. Stablecoins permit you to swiftly exchange savings in rubles to foreign currencies.
Individuals who make transactions using cryptocurrency have increased in the volume and value on platforms for p2p. The platform serves as an intermediary or guarantor for the transaction. After buying cryptocurrency, the customer makes the transfer directly into his crypto account before transferring it to his bank card.
Instructions: How to buy stablecoins right now
Crypto Exchanges
The best way to safeguard yourself from fraudsters is to invest in stablecoins via an exchange that is centralized. Some of these exchanges have put in restrictions that make it difficult or unusable for Russian passport holders. You can also use crypto exchanges that are decentralized (DEX), which don’t keep the funds of users. A commission for a particular blockchain is required for every operation.
Platforms for P2P
This is a relation model of equal-to-equal interaction. Many p2p platforms allow users to connect and buy or trade stablecoins. Here , you can find fantastic offers on buying cryptocurrency for rubles. It also serves as a security for transactions.
The transaction can be accomplished in two stages:
The buyer pays the seller the amount that he would like to purchase stablecoins.
The seller transfers the buyer’s cryptocurrency into his crypto wallet.
Use only reliable and tested p2p platforms to ensure that you do not lose money. Before you complete any transaction make sure you verify the order’s number and percentage of completion. It indicates that the seller is trustworthy if there are more orders. While a low percentage of success and a site that is well-known cannot guarantee that you’ll be “thrown”, it is possible to experience delays and slow responses from the seller.
Exchangers
There are two types if cryptocurrency exchangers.
– Online: The online exchanger allows the user to input his personal information, receive payment details, perform a transaction and receive cryptocurrency in his wallet.
The online exchangers will process your payment automatically. You must confirm the amount before transferring rubles. In the event that you do not, the robot might not recognize your payment. If you want to use the services of an exchanger, you’ll have to pay a commission of 3-10.
Exchangers online are the same as branches of banks. That means you can perform transactions when you visit the exchanger.
How to get rid
In the face of a declining ruble and the inability to buy euros or dollars, cryptocurrencies are one of the most effective alternatives for capital preservation. Similar circumstances are also present in Turkey and Venezuela.
As a substitute for other currencies, stablecoins can be the best option, because they’re essentially an electronic version of the dollar, and they are not susceptible to fluctuations, as are other cryptocurrencies.
Stablecoins are generally favored by experts to be used to perform operations that are not available in Russia due to restrictions. After performing these operations, it is better to transfer stablecoins to cash or decentralized cryptocurrencies.