Many crypto enthusiasts might argue that the crypto verse is still young but not many people understand the right coins to stake on or keep in their wish list. Apart from Bitcoin, there are so many choices in the market and stablecoins popularity is taking the digital money market by storm.
The beauty of stablecoins is you do not have to worry about the market volatility; you are covered since their prices remain stable even when the crypto market is bleeding. Tether (USDT) was the first to hit the market giving it a head start in visibility. However, its association with dollar backing has raised eye brows in the in the crypto sphere and users are shifting focus to new shiny projects and DAI is among the beneficiaries.
Tether (USDT) Stablecoin
Tether (USDT) as the first coin in the stablecoin class t grace the crypto verse and this has pushed it to the top ten coins globally. The coin is collateralized and backed by the US green buck at a ratio of 1:1. Simply put, the USDT value will remains equivalent to that of the dollar.
USDT has an edge over other stablecoins because of its huge market capitalization which makes it easy to adopt. However, the digital coin is easily manipulated and this is set to cost the platform the market share in the coming days.
MakerDAO (DAI) Stablecoin
MakerDao (DAI) market entry has turned many heads. Its uniqueness is based on its autonomy and decentralization and is not pegged to any fiat including the USD. Instead the stablecoin is Ethereum backed making it the only coin in the globe so far to be backed by another crypto.
As a crypto collateralized digital asset, many digital money market players have seen to be promising despite its complexity. However, the coin is getting tested by the user and the future looks bright. The coin adoption is on the rise now compared to same time last year.
TrueUSD (TUSD) Stablecoin
Like Tether (USDT), TrueUSD stablecoin is fully collateralized by the US dollar but beats the USDT because it legally protected and audited. The level of transparency is public and anyone can peruse through their reports adding to its stability.
Apart from cushioning users from the crypto volatility, the team behind the project has worked in high profile firms including UC Berkley, Google and PwC. TUSD has is poised to push for crypto volatility cushioning and it market capitalization has been rising steadily. The success of the coin is based on their support to micro businesses, currencies and real estate among others.
With the current crypto awareness, MakerDAO (DAI) stablecoin is headed for a bright future now that merchants are turning to stablecoins that protect them from crypto volatility. USDT already surrounded by controversies and a lapse in their auditing might see it shed its popularity as users look for true stablecoin like MakerDAO (DAI).