I heard a new term - stablecoin. It turns out that cryptocurrency is also divided into levels according to the speed of losing their real money, such as: super fast / fast / medium / slow =)))
I'm a typical hamster, I can make mistakes and I'm trying to figure it out using USDT as an example.
I was convinced that USDT is an analogue of USD and should be considered 1 to 1. That is, in my understanding, USDT = USD = 1 and this is a constant. This is an analogue))
We open a well-known program where there is information about all crypto coins and look at the TOP3 position, that is, USDT. Where is it written that for the entire time the price was minimum $0.5683 and maximum $1.215. Wow volatility, more than 50%. But what about the constant that is 1 to 1?
Well, okay, let's say this is a long period. Let's take a period of less than 1 year, and we see that the minimum is $0.9971 and the maximum is $1.0036. Not a bad analogue)))
The claim that USDT is the same thing as USD is fake. USDT is the same crypto coin as the others on the market.
The statement that USDT is an analogue of USD, if compared with other coins, then at the moment it can be argued that this is true, that USDT is only an analogue, but it is not USD.
I have doubts that the company that issued USDT has one real USD behind each coin. Hence there are very real risks that the USDT rate is controlled manually and can change at any time.
My understanding of the value of an asset is that I can exchange this asset 1 for 1 with what the asset is equal to. This is not the case with USDT. For example, now the USDT rate is $0.9991, which means that for my $100 I will receive only 99.91 USDT. And with reverse conversion, if the rate falls, I will withdraw less than $100. And if the rate increases, I will withdraw more than $100. But, so that speculators do not have joy, there are commissions that, in any case, make this operation unprofitable for me.
In the case of USDT, the situation is not particularly critical. The statement that this is only an analogue is relatively true. That is, I can exchange USDT for real USD with minimal losses. But this is not the same thing, completely different.
And they tell me that $XAUT is an analogue of gold. And this is stablecoin. Since this is an analogue of gold, where can I exchange my $XAUT for gold?
All crypto coins are speculation and nothing more. There is no real value behind any coin. Yes, here you can earn a lot of real money, and you can lose everything. This is a market of trading and speculation.
Stablecoin, memcoin, altcoin, btc, etc. - this is all a digital asset for speculation. High volatility, high risk and no real value. And it doesn’t matter what category the coin belongs to. The only difference is the speed at which losses increase from “super fast” to “slow”.
Hamsters, take care of your money and multiply it correctly.
Good luck to everyone at the auction, except for the “whales”))))
ps I don’t know anything in this area yet. I'm trying to understand, reason, and I could be wrong. I hope that if I made a mistake, they will correct me in the comments ;)
