Notes

What is a stabilizecoin? how do I purchase one?
Russians started to buy stablecoins in large amounts shortly after the launch of a Ukrainian-specific operation. Let's find out why this currency is so well-liked, how to buy it and what it can do for us in the face of sanctions.

What is stablecoin?

The use of fiat currencies in the offline world to determine the price of products and services. However, the world of cryptocurrencies is characterized by its own measures - the volume of transactions on the blockchain and block size, hashrate, and the list goes on. We created a digital asset that is linked to fiat currencies and precious metals in order to add additional capabilities to the Blockchain.

Stablecoins can be described as digital coins whose value is linked to the US dollar (USD) in a ratio of 1:1. Tether issued the first stablecoin, USDT, in the year 2015. Tether also has other stablecoins, such as Circle's USDC or BUSD. These coins are issued by Binance, a crypto exchange. The company that created the coin is identified by the last letter.

Stablecoins let you convert your fiat savings into digital currencies that you can trade instantly or used to invest. Also, with the help of stablecoins, you will be able to make the most of your crypto-savings - in periods of high volatility in the market, cryptocurrency can be converted into stablecoins, and then wait for more favorable conditions. The main advantage of stablecoins is their capacity to act as a substitute for settlements when the exchange rate is not stable and it's difficult to acquire a foreign currency.

Why has the demand for stablecoins grown?

Russia has seen an increase in the demand for cryptocurrency as a way to safeguard savings over the past two weeks. In addition to the number of cryptocurrency users and the surge of deposits in rubles to cryptocurrency exchanges. Alongside bitcoin, stablecoins, especially USDT are the second most utilized cryptocurrency.

Based on statistics of visitors to different trading platforms, since the end of February, the volume of visitors has increased by 2-3 times. The interest in USDT surpasses the demand for bitcoins and other popular currencies, since the stablecoin is a substitute for money American dollars, which is not possible to purchase at present.

EXMO cryptocurrency platform witnessed an increase in the amount of rubles that are deposited. Binance has stopped accepting Visa as well as Mastercard cards that are issued by Russia by the exchange.

The cryptocurrency and stablecoins are great ways to transfer funds between countries, regardless of whether Russia is subject to Western sanctions. Stablecoins allow you to swiftly exchange your savings in rubles into foreign currency.

In order to facilitate transactions between people using cryptocurrency, the number of cryptocurrencies that are purchased and sold via the p2p platform has increased. The platform acts both as an intermediary or guarantor for the transaction. After buying a cryptocurrency, the user transfers it to his cryptocurrency wallet, and then to a bank card.

Instructions: how to buy stablecoins today

Crypto Exchanges

Buy stablecoins from a central exchange to be secure and guard yourself from scammers. Unfortunately, a lot of these websites have implemented restrictive measures and make it difficult or impossible for Russian passport holders. Decentralized cryptocurrency exchanges (DEX) which don't hold user money are a possible alternative. A commission for a particular blockchain is needed for each operation.

P2P platforms

This is a relationship model of equal-to-equal interactions. Many p2p websites connect people who wish to exchange or purchase stablecoins. Here are some great deals on buying cryptocurrencies for rubles. In addition the platform itself serves as a security for the transaction.

The transaction takes place in 2 stages:

The buyer gives the seller the amount that the buyer would like to buy stablecoins.

the seller sends the buyer a cryptocurrency to the buyer's crypto wallet.

Use only reliable and tested p2p platforms to ensure that you do not lose money. It is important to check the quantity of orders as well as the proportion of transactions that are completed prior to complete any transaction. The more of them more, the better, and it indicates that the seller is trustworthy. You won't be "thrown" if your rate of success is low however, the website is well-known and popular. But, you could be delayed or receive a delayed reaction from the seller.

Exchangers

There are two kinds:

Online: In the online exchanger users input their information into a particular form, receives payment details in rubles, makes an online transfer, and then receives cryptocurrency into his account.

Online exchangers will take care of the transfer. If you do not confirm the amount, the machine won't accept the transaction. To use the services of an exchanger, you'll have to pay a commission of 3-10.

Offline exchangers operate in similar to banks branches. You are able to make payments only through the exchanger.

How to get rid

In the face of a declining ruble and the inability to buy dollars or euros cryptocurrency is one of the best alternatives to preserve capital. Similar circumstances have been seen in Turkey and Venezuela.

https://cryptonewsru.com/ can be a good alternative to foreign currencies. They're essentially a digital analog of the dollar and do not be affected by volatility as other cryptocurrencies.

The majority of experts suggest using stablecoins to perform tasks that are not currently available in Russia because of the restrictions imposed. After completing https://play.google.com/store/apps/details?id=com.coinbase.android&gl=US is best to transfer stablecoins to cash or decentralized cryptocurrencies.


Here's my website: https://play.google.com/store/apps/details?id=com.coinbase.android&gl=US