{"id":145984,"date":"2018-10-29T09:11:41","date_gmt":"2018-10-29T09:11:41","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=145984"},"modified":"2023-11-12T18:17:19","modified_gmt":"2023-11-12T18:17:19","slug":"stablecoins","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/cryptocurrency\/stablecoins","title":{"rendered":"What is a stablecoin?"},"content":{"rendered":"<div id=\"ukfcyfixeddisclaimer\" class=\"visible no-margin-top\" data-template=\"masthead-two-columns\">\n<div id=\"ukfcyfixeddisclaimerbody\" class=\"text-center fin-text-white\" data-nosnippet><strong>Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <u id=\"ukfcydscmdl\" onclick=\"ukfcyshowmodal();\">Take 2 mins to learn more<\/u>.<\/strong><\/div>\n<\/div>\n<style>\n@media (max-width: 767px) { .fixeddisclaimerbody { letter-spacing: -0.4px; } }\n@media (min-width: 1350px) { #page, #side-nav-container { padding-top: 24px !important; } .gn svg.w-\\[16px\\].h-\\[9px\\] { margin-top: 24px !important; } }\n@media (max-width: 1349px) and (min-width: 701px) { #page, #side-nav-container { padding-top: 48px !important; } .gn svg.w-\\[16px\\].h-\\[9px\\] { margin-top: 48px !important; } }\n@media (max-width: 700px) and (min-width: 481px) { #page, #side-nav-container { padding-top: 68px !important; } }\n@media (max-width: 480px) and (min-width: 381px) { #page, #side-nav-container { padding-top: 86px !important; } }\n@media (max-width: 380px) { #page, #side-nav-container { padding-top: 102px !important; } }\n#ukfcyfixeddisclaimer { top: 0; left: 0; position: fixed; right: 0; width: 100%; z-index: 40001; text-align: center; }\n#ukfcyfixeddisclaimerbody { line-height: 1.2; background-color: #6c7881; overflow: hidden; letter-spacing: -0.2px; padding: 4px 3px 5px 3px; }\n#ukfcymodal { z-index: 40002; }\n#ukfcymodalclosereal { z-index: 40003; position: fixed; left: 0; right: 0; top: 0; bottom: 0; }\n#modal-content { z-index: 40004; }\n.gn .nav-slideout--active { top: auto !important; }\n.gn .fixed { position: static !important; }\n#ukfcydscmdl { cursor: pointer; }\n<\/style>\n\n\n<div class=\"docsModal\">\n<section class=\"luna-modal\" aria-hidden=\"false\" role=\"dialog\" id=\"ukfcymodal\" aria-labelledby=\"modal-heading\" aria-describedby=\"modal-content\" tabindex=\"-1\">\n<div class=\"luna-modal__content\">\n<button id=\"ukfcymodalclose\" class=\"luna-modal__close\" type=\"button\" aria-label=\"Close modal\">\n<svg class=\"luna-icon\" aria-hidden=\"true\"><use xlink:href=\"#close\"><\/use><\/svg>\n<\/button>\n<div id=\"ukfcymodalclosereal\"><\/div>\n<div class=\"luna-modal__body\" id=\"modal-content\">\n<div class=\"luna-modal__wrapper\">\n\n<p><strong>Estimated reading time: 2 min<\/strong><\/p>\n\n<p>Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.<\/p>\n\n<h4 id=\"modal-heading\">What are the key risks?<\/h4>\n\n<p>1. You could lose all the money you invest<\/p>\n\n<ul> \n<li>The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.<\/li>\n<li>The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.<\/li>\n<\/ul>\n\n<p>2. You should not expect to be protected if something goes wrong<\/p>\n\n<ul>\n<li>The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime \u2013 in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS <a href=\"https:\/\/www.fscs.org.uk\/check\/investmentprotection-checker\">investment protection checker<\/a>.<\/li>\n<li>The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection <a href=\"https:\/\/www.financialombudsman.org.uk\/consumers\">here<\/a>.<\/li>\n<\/ul>\n\n<p>3. You may not be able to sell your investment when you want to<\/p>\n\n<ul>\n<li>There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.<\/li>\n<li>Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.<\/li>\n<\/ul>\n\n<p>4. Cryptoasset investments can be complex<\/p>\n\n<ul>\n<li>Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.<\/li>\n<li>You should do your own research before investing. If something sounds too good to be true, it probably is.<\/li>\n<\/ul>\n\n<p>5. Don't put all your eggs in one basket<\/p>\n\n<ul>\n<li>Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.<\/li>\n<li>A good rule of thumb is not to invest more than 10% of your money in high-risk investments.<\/li>\n<\/ul>\n\n<p>If you are interested in learning more about how to protect yourself, visit the FCA's website <a href=\"https:\/\/www.fca.org.uk\/investsmart\">here<\/a>.<\/p>\n\n<p>For further information about cryptoassets, visit the FCA's website <a href=\"https:\/\/www.fca.org.uk\/investsmart\/crypto-basics\">here<\/a>.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n<script>\nfunction ukfcyshowmodal() {\nvar infomodal = document.getElementById(\"ukfcymodal\");\ninfomodal.classList.add('is-visible');\ninfomodal.setAttribute(\"aria-hidden\", \"false\");\ndocument.getElementById(\"ukfcymodalclosereal\").addEventListener('click',function()\n{\nvar infomodal = document.getElementById(\"ukfcymodal\");\ninfomodal.classList.remove('is-visible');\ninfomodal.setAttribute(\"aria-hidden\", \"true\");\n});\n};\n<\/script><p>Bitcoin and nearly all other cryptocurrencies are infamously volatile, capable of experiencing double-digit price swings in less than 24 hours. While this is an attractive feature for speculators looking to profit from price movements, it also remains one of the biggest barriers to the widespread adoption and legitimacy of cryptocurrency.<\/p><p>Enter stablecoins. These fixed-price digital currencies provide stability and a much wider range of everyday use cases than cryptocurrencies currently enjoy, and there are now more than 50 stablecoin projects being developed around the world.<\/p><p>Keep reading to find out how stablecoins work, the benefits they offer and why they\u2019re important.<\/p><h3>What are stablecoins?<\/h3><p>A stablecoin is a cryptocurrency with a fixed price. While the price of most cryptocurrencies is determined by supply and demand, stablecoins are designed to achieve a constant, stable price.<\/p><p>The most common method stablecoins use to achieve price stability is to peg the value of their coin to a real-world asset, for example gold or the US dollar. However, there are also a couple of other approaches for designing stablecoins, and we\u2019ll explore all the options in detail a little further down the page.<\/p><div class=\"fin-video fin-video--horizontal\" data-player-type=\"youtube\" data-video-id=\"8qI3g3wCJec\" style=\"\">\n    <div class=\"fin-video__container\">\n                    <img decoding=\"async\" class=\"fin-video__thumbnail\" src=\"https:\/\/img.youtube.com\/vi\/8qI3g3wCJec\/maxresdefault.jpg\" data-fallback-sd=\"https:\/\/img.youtube.com\/vi\/8qI3g3wCJec\/sddefault.jpg\" data-fallback-hq=\"https:\/\/img.youtube.com\/vi\/8qI3g3wCJec\/hqdefault.jpg\" alt=\"\" loading=\"lazy\">\n                            <div class=\"fin-video__duration\">4:28<\/div>\n                        <div class=\"fin-video__play-btn\" role=\"button\" aria-label=\"Play video\"><\/div>\n                <iframe allow=\"autoplay\" class=\"fin-video__player\" id=\"ytPlayer-8qI3g3wCJec\" title=\"Video player\"><\/iframe>\n    <\/div>\n        <\/div>\n<h3>Compare stablecoins side-by-side<\/h3><div class=\"tableui has-padding-bottom-x-small clearfix\">\n    <div class=\"form__panel content-area-grey tableui__panel\">\n                <div class=\"form__group-inline clearfix\">\n            <label for=\"tableui0000000000\" class=\"fin-text-blue form__label-inline\">Search by coin name<\/label>\n            <input id=\"tableui0000000000\" class=\"js-table-search pull-s-right form__input-text form__input-text--long\" type=\"text\" data-table=\"table:eq(0)\" placeholder=\"e.g. Tether\">\n        <\/div>\n                    <\/div>\n    <\/div>\n<table class=\"luna-table js-tablesorter luna-table--responsiveList\">\n    \n        <thead class=\"luna-table__header\">\n        <tr>\n                    <th scope=\"col\">Coin name<\/th>\n                    <th scope=\"col\">Issued by<\/th>\n                    <th scope=\"col\">Launched<\/th>\n                    <th scope=\"col\">Type of stablecoin<\/th>\n                    <th scope=\"col\">Features<\/th>\n         \n        <\/tr>   \n    <\/thead>\n    \n        <tbody class=\"luna-table__body\">\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>AAA Reserve<\/b><\/td>\n                                    <td data-title=\"Issued by\">Arc Fiduciary Ltd<\/td>\n                                    <td data-title=\"Launched\">2017<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by cash, gilts and AAA-rated credit investments<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>AUDRamp (AUDR)<\/b><\/td>\n                                    <td data-title=\"Issued by\">OnRamp Technologies<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by and pegged to AUD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>A-Euro<\/b><\/td>\n                                    <td data-title=\"Issued by\">Augmint<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Crypto backed<\/td>\n                                    <td data-title=\"Features\">Pegged to EUR and backed by ETH<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Bridgecoin (BRC)<\/b><\/td>\n                                    <td data-title=\"Issued by\">Sweetbridge<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">To be backed by fiat, crypto, IPs, physical assets and more<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Basis<\/b><\/td>\n                                    <td data-title=\"Issued by\">Basis<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Seigniorage shares<\/td>\n                                    <td data-title=\"Features\">Prices kept stable by algorithmically adjusting supply<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>BitUSD (BITUSD)<\/b><\/td>\n                                    <td data-title=\"Issued by\">BitShares<\/td>\n                                    <td data-title=\"Launched\">2014<\/td>\n                                    <td data-title=\"Type of stablecoin\">Crypto backed<\/td>\n                                    <td data-title=\"Features\">Backed by BTS and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Boreal<\/b><\/td>\n                                    <td data-title=\"Issued by\">Aurora<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Crypto backed<\/td>\n                                    <td data-title=\"Features\">Backed by ETH and various cryptocurrencies<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>CarbonUSD<\/b><\/td>\n                                    <td data-title=\"Issued by\">Carbon<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Seigniorage shares<\/td>\n                                    <td data-title=\"Features\">Coin supply algorithmically adjusted based on demand. Pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Digix Gold Token (DGX)<\/b><\/td>\n                                    <td data-title=\"Issued by\">Digix Global<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by gold. Each token represents 1g of gold<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b><a href=\"how-to-buy-dai\" target=\"blank\">Dai (DAI)<\/a><\/b><\/td>\n                                    <td data-title=\"Issued by\">MakerDAO<\/td>\n                                    <td data-title=\"Launched\">2017<\/td>\n                                    <td data-title=\"Type of stablecoin\">Crypto backed<\/td>\n                                    <td data-title=\"Features\">Backed by ETH and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>EURS<\/b><\/td>\n                                    <td data-title=\"Issued by\">STASIS Foundation<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by and pegged to EUR<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>eUSD (EUSD)<\/b><\/td>\n                                    <td data-title=\"Issued by\">Havven<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Crypto backed<\/td>\n                                    <td data-title=\"Features\">Backed by ETH and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>\u03bcFragments<\/b><\/td>\n                                    <td data-title=\"Issued by\">Fragments<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Seigniorage shares<\/td>\n                                    <td data-title=\"Features\">Pegged to USD. Supply inflates and deflates in response to demand<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Gemini Dollar (GUSD)<\/b><\/td>\n                                    <td data-title=\"Issued by\">Gemini<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Globcoin (GLX)<\/b><\/td>\n                                    <td data-title=\"Issued by\">RCS<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Pegged to a basket of 15 fiat currencies and gold<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>HelloGold (GOLDX)<\/b><\/td>\n                                    <td data-title=\"Issued by\">HelloGold Sdn Bhd<\/td>\n                                    <td data-title=\"Launched\">2017<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by gold. Each token represents 1g of gold<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>kUSD (KUSD)<\/b><\/td>\n                                    <td data-title=\"Issued by\">Kowala<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Seigniorage shares<\/td>\n                                    <td data-title=\"Features\">Pegged to USD. Supply expands and contracts depending on market conditions<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Monerium<\/b><\/td>\n                                    <td data-title=\"Issued by\">Monerium<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by USD, EUR and other currencies<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>NOS (Nollar)<\/b><\/td>\n                                    <td data-title=\"Issued by\">NOS<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by EUR, pegged to USD\/other fiat currency<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>nUSD (NUSD)<\/b><\/td>\n                                    <td data-title=\"Issued by\">Havven<\/td>\n                                    <td data-title=\"Launched\"><\/td>\n                                    <td data-title=\"Type of stablecoin\">Crypto backed<\/td>\n                                    <td data-title=\"Features\">Backed by nomins (Havven\u2019s native currency) and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Paxos Standard (PAX)<\/b><\/td>\n                                    <td data-title=\"Issued by\">Paxos Trust Company<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Rockz<\/b><\/td>\n                                    <td data-title=\"Issued by\"><\/td>\n                                    <td data-title=\"Launched\"><\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by CHF<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Saga (SGA)<\/b><\/td>\n                                    <td data-title=\"Issued by\">Saga Foundation<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Pegged to the International Monetary Fund's special drawing rights (SDR), which is in turn tied to an underlying basket of currencies<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>StableUSD<\/b><\/td>\n                                    <td data-title=\"Issued by\">Stably Blockchain Labs<\/td>\n                                    <td data-title=\"Launched\">Not yet launched<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Stronghold USD<\/b><\/td>\n                                    <td data-title=\"Issued by\">Stronghold<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>SwissRealCoin<\/b><\/td>\n                                    <td data-title=\"Issued by\">SwissRealCoin<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by a portfolio of Swiss commercial real estate<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>Terra<\/b><\/td>\n                                    <td data-title=\"Issued by\">Terraform Labs<\/td>\n                                    <td data-title=\"Launched\">Scheduled for Q4 2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Seigniorage shares<\/td>\n                                    <td data-title=\"Features\">Price stability ensured by algorithmically expanding and contracting supply. Backed by Luna, Terra\u2019s own asset<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b><a href=\"how-to-buy-tether\" target=\"blank\">Tether (USDT)<\/a><\/b><\/td>\n                                    <td data-title=\"Issued by\">Tether<\/td>\n                                    <td data-title=\"Launched\">2014<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>TrueUSD (TUSD)<\/b><\/td>\n                                    <td data-title=\"Issued by\">TrueCoin LLC<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>USD Coin (USDC)<\/b><\/td>\n                                    <td data-title=\"Issued by\">Circle<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>USDVault<\/b><\/td>\n                                    <td data-title=\"Issued by\">Vault<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by gold and pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>White Standard<\/b><\/td>\n                                    <td data-title=\"Issued by\">The White Company<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Pegged to USD<\/td>\n                            <\/tr>\n                    <tr>\n                                    <td data-title=\"Coin name\"><b>X8Currency<\/b><\/td>\n                                    <td data-title=\"Issued by\">X8 Currency<\/td>\n                                    <td data-title=\"Launched\">2018<\/td>\n                                    <td data-title=\"Type of stablecoin\">Fiat backed<\/td>\n                                    <td data-title=\"Features\">Backed by eight fiat currencies and gold<\/td>\n                            <\/tr>\n            <\/tbody>\n    \n<\/table><h3>How do stablecoins work?<\/h3><p>How do stablecoin creators achieve the price stability they desire? There are three different types of stablecoins, each with its own approach for ensuring minimal price fluctuations.<\/p><ul class=\"luna-accordionGroup accordionGroup\"><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000000\" data-toggle=\"collapse\" data-target=\"#accordion0000000000\">\n        <span class=\"luna-accordion__title\">Fiat-collateralised stablecoins<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000000\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>This is the simplest method of creating a stablecoin and is used by <a href=\"https:\/\/www.finder.com\/uk\/tether\">Tether (USDT)<\/a>, one of the best-known stablecoins in existence today. Fiat-collateralised stablecoins are backed by a real-world asset, most commonly the US dollar or some other fiat currency but also a traditional asset such as gold. That asset is owned and held by a central entity, with each unit of the stablecoin backed by a corresponding unit of the fiat currency.<\/p><p>For example, a stablecoin issuer accepts deposits in USD and issues one unit of stablecoin for every dollar it receives \u2013 the digital currency is effectively an IOU issued on that asset. If you decide you want to cash out 1,000 units of stablecoin, the coin issuer transfers you US$1,000 and \u201cburns\u201d 1,000 stablecoins.<\/p><p>While this method is reasonably easy to understand and implement, its main downside is that it requires a high level of trust in the central entity that controls USD deposits and issues the stablecoin.<\/p><p>And trust can be hard to come by in the crypto world. For example, Tether has long been the subject of accusations that not only is it used to prop up the price of Bitcoin, but also that the company behind the currency (Tether Limited) doesn\u2019t have sufficient USD reserves to back up the supply of Tether. At time of writing (October 2018), rumours of Tether\u2019s insolvency continue to circulate online.<\/p><p>As an example of how a fiat-backed stablecoin works, check out the Tether price graph relative to the value of the USD below.<\/p><figure class=\"luna-figure\"><img decoding=\"async\" class=\"luna-image aligncenter\" src=\"https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/tether-price-chart.png\" alt=\"\" width=\"621\" height=\"409\" srcset=\"https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/tether-price-chart.png?fit=180 180w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/tether-price-chart.png?fit=360 360w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/tether-price-chart.png?fit=600 600w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/tether-price-chart.png?fit=900 900w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/tether-price-chart.png?fit=1200 1200w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/tether-price-chart.png?fit=1863 1863w\" sizes=\"(max-width: 1863px) 100vw, 1863px\" loading=\"lazy\"><figcaption class=\"luna-caption\" align=\"center\">USDT\u2019s price relative to the value of the US dollar <span class=\"luna-caption__credit\">Coincodex<\/span><\/figcaption><\/figure><p><b>Pros and cons of fiat-collateralised stablecoins<\/b><\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><p><b>Pros<\/b><\/p><ul class=\"list-4\"><li>Easy to understand<\/li><li>Stablecoin\u2019s value should match the value of a real-world asset<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><p><b>Cons<\/b><\/p><ul class=\"list-13\"><li>Required trust in third party to hold sufficient fiat collateral<\/li><li>Auditing required to make sure appropriate amount of collateral is being held \u2013 this can be slow and expensive<\/li><li>Uses a centralised structure that somewhat negates one of the key principles of cryptocurrency \u2013 decentralisation<\/li><li>Relies on traditional fiat currency payment systems, which are slower and more expensive than cryptocurrency<\/li><\/ul><\/div><\/div><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000001\" data-toggle=\"collapse\" data-target=\"#accordion0000000001\">\n        <span class=\"luna-accordion__title\">Crypto-collateralised stablecoins<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000001\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>The concept of crypto-collateralised stablecoins is fairly similar to that of fiat-collateralised stablecoins, but with the obvious difference that they\u2019re backed by digital currency (or a basket of digital currencies).<\/p><p>They also need to account for the volatility of the cryptocurrency being offered as collateral. So while fiat-collateralised coins are backed on a 1:1 ratio by fiat deposits, crypto-backed stablecoin issuers hold crypto deposits of a ratio higher than 1:1. For example, you may need to deposit $500 worth of Ether (ETH) to access $250 worth of a stablecoin.<\/p><p>Because crypto-backed coins can be managed on-chain, there\u2019s no need to worry about entrusting your deposit to a third party. However, the biggest concern is the volatility of the underlying collateral, so the coin issuer must hold a substantial amount of collateral to protect against significant price drops.<\/p><p><b>Pros and cons of crypto-collateralised stablecoins<\/b><\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><p><b>Pros<\/b><\/p><ul class=\"list-4\"><li>You don\u2019t have to entrust custody of your collateral to a third party \u2013 instead, collateral is locked up in a smart contract on the blockchain<\/li><li>Conducted on-chain, which ensures transparency and removes the need for third-party auditing that fiat-backed coins have<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><p><b>Cons<\/b><\/p><ul class=\"list-13\"><li>Requires extra collateral to be secure against cryptocurrency volatility<\/li><li>Risk of the asset collateralising the stablecoin experiencing a significant decline in value<\/li><li>If backed by a basket of cryptocurrencies, selecting the right currencies to ensure price stability can be difficult<\/li><\/ul><\/div><\/div><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000002\" data-toggle=\"collapse\" data-target=\"#accordion0000000002\">\n        <span class=\"luna-accordion__title\">Seigniorage shares<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000002\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>These stablecoins are controlled by an algorithm designed to match supply with demand in order to achieve price stability. Using smart contracts, supply is increased when the coin\u2019s price goes up and decreased when it goes down, thereby maintaining the price at a steady level.<\/p><p>For example, if the price of the stablecoin is trading at above $1 per unit, the algorithm issues additional units to increase overall supply until the price returns to $1. The profits collected in this process are known as seigniorage.<\/p><p>If the price falls below the $1 mark, the algorithm is designed to use seigniorage to buy up some of the coins, thereby decreasing supply and pushing the price back up to $1. If the price is still below $1 and there are no more profits left to buy more of the coin\u2019s supply, seigniorage shares are issued. These are basically bonds that raise funds for the coin issuer and promise future seigniorage profits to buyers.<\/p><p><b>Pros and cons of seigniorage shares<\/b><\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><p><b>Pros<\/b><\/p><ul class=\"list-4\"><li>No collateral required<\/li><li>Theoretically protected against the volatility of other cryptocurrencies (however, a wider market downturn could lead to decreased demand for seigniorage shares)<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><p><b>Cons<\/b><\/p><ul class=\"list-13\"><li>More complicated than other structures<\/li><li>Relies on future growth in demand for the stablecoin in order to be successful \u2013 if there is no seigniorage left and seigniorage shares can\u2019t be sold to raise funds, the price of the stablecoin could plummet<\/li><li>Largely unproven<\/li><\/ul><\/div><\/div><\/div>\n  <\/div>\n<\/li><\/ul><figure class=\"luna-figure\"><img decoding=\"async\" class=\"luna-image aligncenter\" src=\"https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/Screen-Shot-2018-10-31-at-5.43.55-pm.png\" alt=\"Taxonomy of stablecoin types\" width=\"583\" height=\"221\" srcset=\"https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/Screen-Shot-2018-10-31-at-5.43.55-pm.png?fit=180 180w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/Screen-Shot-2018-10-31-at-5.43.55-pm.png?fit=360 360w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/Screen-Shot-2018-10-31-at-5.43.55-pm.png?fit=600 600w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/Screen-Shot-2018-10-31-at-5.43.55-pm.png?fit=900 900w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/Screen-Shot-2018-10-31-at-5.43.55-pm.png?fit=1200 1200w, https:\/\/www.finder.com\/finder-au\/wp-uploads\/2018\/10\/Screen-Shot-2018-10-31-at-5.43.55-pm.png?fit=1749 1749w\" sizes=\"(max-width: 1749px) 100vw, 1749px\" loading=\"lazy\"><figcaption class=\"luna-caption\" align=\"center\">A taxonomy of the main stablecoin types <span class=\"luna-caption__credit\"><i>The State of Stablecoins<\/i>, Blockchain.com<\/span><\/figcaption><\/figure><h3>Why are stablecoins important?<\/h3><p>While Satoshi Nakamoto\u2019s vision for Bitcoin was as a form of electronic cash, the world\u2019s biggest cryptocurrency is rarely used as a medium of exchange on a day-to-day basis. Rather, its volatility and high fees mean that Bitcoin is impractical for everyday transactions, and is instead used more as a store of value.<\/p><p>The same can be said for most other digital currencies. Because prices fluctuate significantly from one day to the next, holding and using crypto in the same way you do pound sterling (getting paid a salary, paying for food, buying a coffee etc) simply isn\u2019t viable. Think about it \u2013 why would a business accept Bitcoin as payment when 1 BTC might be worth $10,000 today, but tomorrow its value could have dropped to $9,000?<\/p><p>And this is, in theory at least, where stablecoins offer a key advantage. Not only do they offer all the benefits of cryptocurrency, including cryptographic security and the ability to transfer value digitally, but they\u2019re designed to have the low volatility for which fiat currency is famous. The end result is a digital currency that can theoretically be used as a daily medium of exchange in the real world.<\/p><h3>Stablecoin uses<\/h3><p>What can stablecoins be used for? A price-stable cryptocurrency could potentially have a wide range of purposes, including:<\/p><ul class=\"list-7\"><li><b>Medium of exchange.<\/b> A successful stablecoin could be used as a medium of exchange for everyday spending in the same way we currently use pound sterling.<\/li><li><b>Protection against market volatility.<\/b> When the crypto market is experiencing a downturn, shifting your money out of traditional digital currencies and into a stablecoin can help hedge against market volatility. This can be particularly useful if you <a href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/exchanges\">use a crypto exchange<\/a> that doesn\u2019t support fiat currency.<\/li><li><b>Financial products.<\/b> Stablecoins could potentially form the basis for a new financial ecosystem, including everything from crypto-backed loans and global remittances to insurance, as they provide the long-term stability required for many financial functions.<\/li><li><b>Prediction markets.<\/b> If you place a bet on the outcome of an event with a long timeframe, using a stablecoin allows you to minimise the impact of market volatility.<\/li><li><b>Global access to a stable currency.<\/b> In countries where the local currency is plagued by hyperinflation, holding a decentralised stablecoin could allow people to protect their wealth.<\/li><\/ul><h3>Bottom line<\/h3><p>There\u2019s little doubt that a working, trusted stablecoin is a key stepping stone on cryptocurrency\u2019s path to mainstream acceptance. However, this goal is still some way off.<\/p><p>There have been numerous examples in recent years of stablecoin projects that have simply failed to stand the test of time. Even Tether, the world\u2019s largest (in terms of market cap) stablecoin and one that\u2019s been around since 2015, has been plagued by accusations that it doesn\u2019t have sufficient US dollar reserves to back up the amount of USDT in circulation.<\/p><p>In <a href=\"https:\/\/www.blockchain.com\/research\" target=\"_blank\" rel=\"noopener noreferrer\"><i>The State of Stablecoins<\/i><\/a>, a report from wallet provider Blockchain released in September 2018, the authors summed up the current situation in the stablecoin market by saying:<\/p><blockquote><p>\u201cWhile there is a great deal of excitement surrounding stablecoins, the technology is still nascent and it is highly unlikely that the perfect stablecoin design exists at present; further experimentation (and innovation) is expected.\u201d<\/p><\/blockquote><p>While some stablecoins have been able to demonstrate short-term stability, only time will tell whether they\u2019ve got the goods to provide long-term reliability. Until that happens, don\u2019t assume that any cryptocurrency will be able to provide the same stability as good old-fashioned fiat currency. And if you\u2019re thinking of putting any of your hard-earned cash into a stablecoin project, make sure you thoroughly research it first.<\/p><h3>Frequently asked questions<\/h3><ul class=\"luna-accordionGroup accordionGroup\"><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000003\" data-toggle=\"collapse\" data-target=\"#accordion0000000003\">\n        <span class=\"luna-accordion__title\">Where can I buy stablecoins?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000003\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>This depends on the coin you want to buy. While well-known stablecoins like Tether and Dai are listed on a <a href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/exchanges\">wide range of cryptocurrency exchanges<\/a>, many other coins are less widely available. Do your research to find out where you can buy your chosen currency.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000004\" data-toggle=\"collapse\" data-target=\"#accordion0000000004\">\n        <span class=\"luna-accordion__title\">How and where can I buy Tether?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000004\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>You can find step-by-step instructions on this in our guide to <a href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/coins\/how-to-buy-tether\">how to buy USDT<\/a>.<\/p><\/div>\n  <\/div>\n<\/li><\/ul><article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\"><p class=\"has-margin-bottom-xsmall\">*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.<\/p><p>Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.<\/p><\/div><\/article>\n\n\n<div class=\"newsletter\">\n    <form method=\"post\" action-xhr=\"\/wp-json\/notification-service-proxy\/v1\/track\" class=\"form-signup js-ns-newsletter\" data-form=\"OnPageEmbed\" data-niche=\"FCY-CAMPAIGN-CRYPTOCURRENCY\" data-page-niche=\"GXFCY\" data-form-type=\"newsletter\">\n<input type=\"hidden\" name=\"eventName\" value=\"newsletterSubscribed\">\n<input type=\"hidden\" name=\"payload[submitNiche]\" value=\"FCY-CAMPAIGN-CRYPTOCURRENCY\">\n<input type=\"hidden\" name=\"payload[submitUrl]\" value=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/stablecoins\">\n<input type=\"hidden\" name=\"payload[submitForm]\" value=\"OnPageEmbed\">\n<input type=\"hidden\" name=\"payload[submitDomainCountry]\" value=\"AU\">\n        <div class=\"form-signup__group\">\n                            <label class=\"luna-label\" for=\"ns-newsletter\">Get the crypto newsletter read by 6,000+ investors \ud83d\ude80<\/label>\n                        <div class=\"form-signup__field\">\n                <div class=\"luna-inset luna-inset--left js-email\">\n                    <input name=\"email\" class=\"luna-input\" type=\"text\" aria-describedby=\"ns-subscription-privacy-generic\" placeholder=\"Enter your email address\" id=\"ns-newsletter-generic\" required>\n                    <span class=\"luna-icon\"><\/span>\n                <\/div>\n<small class=\"disclaimer-text\" id=\"ns-subscription-privacy-generic\">\n    <input class=\"luna-checkbox\" type=\"checkbox\" id=\"checkbox-privacy-policy-generic\" required>\n    <label class=\"luna-label\" for=\"checkbox-privacy-policy-generic\">\n    <small>\n        I agree to the <a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"\/uk\/privacy-policy\">Privacy and Cookies Policy<\/a>, <a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"\/uk\/terms-of-use\">finder.com Terms of Use<\/a> and to receive emails from Finder \n    <\/small>\n    <\/label>\n<\/small>\n                <button type=\"submit\" class=\"luna-button luna-button--action relative has-overflow-hidden\" id=\"newsletterCTA\">\n                    <span class=\"btn__content\">Join for free<\/span>\n                    <span class=\"btn__success icon-tick\"><\/span>\n                <\/button>\n            <\/div>\n        <\/div>\n<div submit-success>\n    <template type=\"amp-mustache\">\n      Success! 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work, what they\u2019re used for and why they\u2019re 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This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>30+ stablecoins compared and explained | Finder UK<\/title>\n<meta name=\"description\" content=\"Your detailed guide to stablecoins, what they are, how they work and how they could impact on the future of cryptocurrencies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/stablecoins\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is a stablecoin?\" \/>\n<meta property=\"og:description\" content=\"Your detailed guide to stablecoins, what they are, how they work and how they could impact on the future of cryptocurrencies.\" \/>\n<meta property=\"og:url\" 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