High volatility is one of the major problems of the cryptocurrency, which prevents it from becoming a full-fledged replacement for fiat money at this stage. Cryptocurrency quotes are unstable and can change dramatically in a short period of time. Such price jumps can be observed not only in the first cryptocurrency, but also in all other digital money. This prevents them from being used in everyday life. The creators of cryptocurrencies come up with different ways to solve the problem of volatility. One of them is stablecoins, the main feature of which is exchange rate stability.
Stablecoin is a cryptocurrency pegged to less volatile external assets such as official currencies, precious metals, or oil. The value of a stablecoin can also be pegged to other crypto-assets or fixed by algorithms. Stablecoins retain the same value as the underlying asset and are not subject to sharp price fluctuations. The general idea behind a stablecoin is to maintain a stable value over a long period of time.
Stablecoins play a crucial role in the cryptosystem. They allow more people to access the benefits of blockchain without the risk of sharp price fluctuations. They also provide a solid basis for traders, investors, sellers, and other players who want to keep their profits or assets. Basically, backing a coin with less volatile conventional assets such as the US dollar or gold makes it more stable, thus providing a safer alternative for all players in the crypto community.
Most coins are built on the same principle – a centralized organization keeps assets in the target account and issues the corresponding tokens at the ratio of 1: 1 to the underlying assets. The advantage of USDZ Capital Group is that this company is more transparent in its activities, disclosure of information about its holding companies, reporting, and compliance with regulatory requirements.
USDZ Capital Group consists of professionals with extensive experience in the major companies in the world, such as Lloyds Banking Group, Wincor Nixdorf, Deloitte, Danske Bank. The core of the company consists of five people: CEO Robert Evans, CFO Richard Moore, CCO James Turner, CTO Sebastian Schneider, CMO Kirsten Larsen. USDZ stablecoins are issued on Ethereum blockchain as ERC-20 tokens, which means compatibility with most software, hardware wallets, exchanges, and other projects.
What is USDZ stablecoin?
USDZ was introduced in 2019. It is developed to become a simple, transparent, and reliable stable coin. For this reason, it does not use a hidden bank account or any special algorithm. Dollar collateral for each USDZ stablecoin is distributed among different bank accounts belonging to trust companies that are not affiliated with each other. USDZ Capital Group undertakes to publish monthly reports on backed assets and audits. Once the tokens reach your wallet, they can be used for anything you need. USDZ tokens combine the best features – stability, trust, low fees, and fast transfer times. This system uses multiple APIs and makes token management easy and superior to previous alternatives. The current fee for buying and exchanging USDZ to USD makes 0.1%.
USDZ stablecoin was created for:
– Traders and exchanges. USDZ stablecoin is an excellent tool to protect your money against volatility and enter the markets without buying BTC / ETH.
– Commercial companies. Every day people and companies can take advantage of the blockchain technology without significant price fluctuations.
– Emerging economies. Emerging markets can use stable currencies to trade.
– Long-term financial contracts such as loans, salaries, or market forecasts.
– Financial institutions that can use a reliable asset to trade with cryptocurrencies.
Advantages of USDZ:
– Security. USDZ Capital Group company publishes regular reports accompanied by reliable legal protection.
– Full collateral. One USDZ token is always collateralized with one USD, kept by the company responsible for escrow. New tokens are issued and burned under officially verified smart-contracts.
– Regular certifications. All deposit accounts are subject to regular certification which is published in public sources.
USDZ stablecoin is an ERC-20 token issued on the Ethereum blockchain. It can be stored in any wallet that supports the ERC-20 standard. The most popular options include MyEtherWallet, MetaMask, Mint, or Jaxx. In the nearest future, the team plans to release new cryptocurrencies, namely EUROZ, GPBZ, and GOLDZ. In addition, USDZ supporters can count on stable baskets of tokenized goods, such as precious metals or real estate.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Source: Bitcoin News