Glossary - ChicksX

Stablecoin is a cryptocurrency designed to maintain a stable value, often pegged to fiat currencies like the US dollar.

Stablecoin is a type of cryptocurrency aimed at minimizing price volatility. It is often pegged to stable assets like fiat currencies (e.g., USD) or commodities (e.g., gold). This pegging ensures that its value remains relatively constant compared to more volatile cryptocurrencies like Bitcoin or Ethereum. Stablecoins are commonly used for trading, lending, and remittances, providing users with the benefits of cryptocurrencies without the risk of significant price swings. They facilitate easier entry and exit points in the crypto market. Stablecoins can be backed by reserves, algorithms, or other mechanisms to maintain their stability and trust.