Being a beginner, if you are worried about the volatility of the crypto market taking a toll on your wallet, Tether is a solution for you. It is a stablecoin backed by the US dollar. That is to say that its value remains constant in relation to the fluctuations of the crypto market, in particular Bitcoin.
Most crypto exchanges like Biance let you directly buy coins. USDT with a credit card or by bank transfer. So you buy cryptos without being exposed to the volatility of this market. Your 1000 USDT remains equal to 1000 dollars.
Tether is also an important part of the cryptocurrency ecosystem. According to the website of Slateit is estimated that 7% of Bitcoin transactions are made in Tethers (the BTC/USDT pair). This represents a daily trading volume of approximately $21 billion.
PAX Gold (PAXG)
To enter the crypto market smoothly, you can choose to trade synthetic tokens that are less volatile than classic cryptos like the Solana where the Peas.
the PAX Gold (PAXG) is a particularly interesting cryptocurrency. It is backed by gold. It is a commodity-backed stablecoin. The company that issued it is Paxos, it is based in New York. Paxos holds a reserve of physical gold to back the PAX Gold crypto.
And also the #Bitcoins created in 2008 following the crisis. Nothing and no one can control it, its inflation is regulated and provided for by its code. There will never be more than 21 million. And for those who are afraid of its volatility, there are stablecoins backed by $ or gold for example = $PAXG
— Risitov (@Risitov) November 24, 2020
Each PAXG token is redeemable for one troy ounce of gold held in the vaults of Paxos and its partners. With PAXG, investors gain exposure to the price of gold, which is much less volatile than regular cryptos.
Additionally, PAX Gold is an ERC20 token that runs on the Ethereum blockchain; therefore exchangeable for other Ethereum tokens in DEXs like Uniswap.
Binance Coin (BNB)
the Binance Coin is the native crypto of Binance, the largest cryptocurrency exchange with a daily trading volume of nearly $2 billion. BNB remains in CoinMarketCap’s top 5 for most of the time with a market capitalization of nearly $70 billion as of April 13.
BNB can be used to pay for products and services, pay transaction fees on the Binance Smart Chain, and participate in ICOs of new projects.
There are several advantages to holding BNB and using the Binance platform:
- And trade : Binance Coin can be exchanged for other cryptos at low fees.
- Reduction of trading fees on Binance.
- Payment method for merchants: merchants can accept BNB for their products and services through Binance Payment Merchant.
- Travel booking : On some websites, BNB can be used to book hotels and flights.
- BNB can be staked or lent on Binance and earn passive income.