Lorenzo
Sat Jun 08 2024
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7 answers
1718
What is the digital currency in Spain?｜A new digital currency backed by the euro began testing this January in Spain under the supervision of the Bank of Spain. Called , this "stablecoin" was developed by Spanish fintech startup MONEI and aims to facilitate faster and cheaper payments.EURM
Could you please elaborate on the new digital currency being tested in Spain? This January, a euro-backed "stablecoin" known as EURM commenced its testing phase under the Bank of Spain's supervision. Could you tell me more about this initiative? Developed by the Spanish fintech startup MONEI, what are the primary objectives of this digital currency? How does it intend to facilitate faster and cheaper payments? Is it targeted towards a specific segment of the population or is it meant for widespread adoption? Also, what are the potential risks and challenges associated with this new digital currency?
CryptoKing
Fri Jun 07 2024
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7 answers
1585
Why is USDT so expensive?｜1. : During periods of high market volatility, traders may prefer to hold their funds in a stablecoin like USDT rather than a volatile cryptocurrency like Bitcoin. This can lead to increased demand for USDT, as traders seek to protect their funds from potential losses.Market volatility
Why exactly is USDT priced so high? Could you please elaborate? Firstly, it seems that during times of intense market fluctuations, traders tend to favor holding their assets in stablecoins like USDT instead of volatile cryptocurrencies like Bitcoin. This behavior presumably spikes the demand for USDT as traders strive to safeguard their capital from potential losses. Could market volatility be a significant factor driving up the price of USDT?
HanRiverWave
Fri Jun 07 2024
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5 answers
906
Is USDT a cryptocurrency?｜Tether (USDT) is what's known as a “Stablecoin” – designed to provide a stable price point at all times. The USDT cryptocurrency was created by Tether Limited to function as the internet's Digital Dollar, with each token worth $1.00 USD and backed by $1.00 USD in physical reserves.a cryptocurrency
Is USDT really a cryptocurrency? I've heard that Tether, or USDT, is actually categorized as a "Stablecoin". Could you elaborate on what that means? Is it designed to maintain a constant price? Also, who created USDT and what's the purpose behind it? I've heard that it's meant to serve as a digital equivalent of the US dollar. Does that mean each USDT token is worth exactly $1.00? And is this value backed by actual physical reserves?
Arianna
Fri Jun 07 2024
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5 answers
1345
Is USDT backed by real money?｜USDT is the symbol for Tether, a cryptocurrency that is pegged to the U.S. dollar. This means USDT is a stablecoin, fluctuating in value with the U.S. dollar and .backed by Tether's dollar reserves
Could you please elaborate on the backing of USDT by real money? I understand that USDT, as a cryptocurrency, is pegged to the U.S. dollar, indicating its stability in value. But what exactly does it mean when it's said to be backed by Tether's dollar reserves? Are these reserves actual physical dollars, or some other form of financial assets? Could you provide more insight into the mechanics of how this backing works and ensures the stability of USDT?
GeishaWhisper
Wed Jun 05 2024
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5 answers
1134
Is a stablecoin a derivative?
Could you please clarify for me whether a stablecoin qualifies as a derivative? I'm curious about how its structure and functionality might align with or differ from traditional derivative instruments. Would it be accurate to categorize a stablecoin as a derivative due to its pegged value to a real-world asset, or does its operational mechanism differ significantly enough to merit a separate classification? I'm eager to understand the nuances involved in this classification and how it impacts the overall cryptocurrency landscape.
