Cryptocurrency Q&A
What cryptocurrency is backed by USD?
What cryptocurrency is backed by USD?
Sara
Wed Sep 11 2024
|
5 answers
1051
Excuse me, could you please clarify which cryptocurrency is specifically backed by the United States Dollar (USD)? I understand that there are various cryptocurrencies in the market, and some of them are designed to maintain a stable value relative to a fiat currency like the USD. But I'm particularly interested in knowing the one that is explicitly backed or pegged to the USD. Is there a specific name or brand that you can mention for such a cryptocurrency?
5 answers
KimchiQueen
Thu Sep 12 2024
Additionally, BTCC offers futures trading, providing traders with the opportunity to speculate on the future price movements of cryptocurrencies, potentially amplifying their returns. The exchange's wallet service further enhances user convenience, enabling secure storage and management of digital assets.
Was this helpful?
189
20
amelia_doe_explorer
Thu Sep 12 2024
USD Coin (USDC) is a prominent stablecoin that operates with full backing from U.S. dollars and dollar-denominated assets. It's crucial to note that USDC's issuance does not stem from the U.S. government, underscoring its independence as a financial instrument.
Was this helpful?
393
25
Maria
Thu Sep 12 2024
Another notable stablecoin in the cryptocurrency landscape is Tether (USDT). This digital asset is firmly anchored to and supported by traditional fiat currencies, particularly the U.S. dollar, ensuring stability and reducing volatility for investors.
Was this helpful?
248
74
BlockProducer
Thu Sep 12 2024
The term 'altcoin' encompasses a broad spectrum of cryptocurrencies and tokens that operate outside the realm of Bitcoin (BTC). These alternatives offer diverse functionalities and investment opportunities, catering to the varying needs and preferences of the crypto community.
Was this helpful?
70
56
CryptoWanderer
Thu Sep 12 2024
Among the myriad exchanges catering to the cryptocurrency market, BTCC stands out as a top player. Its comprehensive suite of services includes spot trading, allowing users to buy and sell digital assets at current market prices.
Was this helpful?
151
34
