Question of the Day

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Why are USD Stablecoins Popular? With their fixed value, USD stablecoins in particular offer traders a way to enter and exit positions in more volatile cryptocurrencies as they work as a store of value. Just like how the U.S. Dollar (USD) is the world's reserve currency, with Keto 90% of forex trading involving the USD, it's hardly surprising that USD-backed stablecoins are the norm. Before stablecoins, exiting a position meant traders had to go through the hassle and pay fees in order to convert their crypto assets into fiat currencies, repeating the process for every trade. While some exchanges offer wallets to hold USD in between trades, these are state/country-specific. If a trader’s region is unavailable, a sell order to cash out USD to a US bank account can take up to five business days, while cashing out to an EU bank account with SEPA transfer still mporchards a minimum of 1 working day. On top of the waiting time, there are also transaction fees for fiat withd