What's the Point of Stablecoins? Understanding Why They Exist

What's the Point of Stablecoins? Understanding Why They Exist
You might already know that stablecoins are basically dollars in digital form. Except that’s not exactly true because stablecoins can also be algorithmically tied to any type of fiat (government) currency – including the euro, Australian dollars and others – as well as other forms of physical assets, like gold.No matter the type, stablecoins exist to make cryptocurrency more predictable. While predictable cryptocurrency may sound like an oxymoron, stablecoins – like their name suggests – were designed to counter crypto’s hallmark volatility and provide a convenient way for crypto traders to preserve their fiat value without having to cash out…