What is a stablecoin?

A stablecoin is a type of cryptocurrency that is designed to maintain a stable value relative to a particular asset or group of assets, such as a national currency or a commodity. This is achieved through various mechanisms, such as pegging the stablecoin's value to an external asset or using algorithms to adjust supply based on demand.

Which stablecoins can I use on the Revix platform?

We currently offer Tether (USDT) on the Revix platform. Tether (USDT) is pegged to the US dollar and is widely recognised as trustworthy and reliable in the cryptocurrency industry. USD Coin (USDC) deposits are accepted on the Revix platform and are auto converted into Tether (USDT).

What risks are present in holding stablecoins?

While stablecoins are generally considered to be less volatile than other cryptocurrencies, they are not risk-free. Some of the risks associated with holding stablecoins include:

  • Counterparty risk: the risk that the issuer may not be able to maintain the pegged value,
  • Regulatory risk: changes in government regulations could impact the value or availability of stablecoins, and 
  • Technological risk: potential vulnerabilities in the blockchain or smart contracts used to support the stablecoin.

As with any investment, it is important to conduct your own research and understand the risks involved before investing in stablecoins.

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