Stablecoins are cryptocurrency designed to have a more stable value. The concept of stable crypto is gaining popularity as we live in the world highly conducive to the greater adoption of crypto money. Here are the main reasons why:
Many people still have no access to traditional financial instruments like credit and debit cards, loans, and investment. With the blockchain-based decentralized systems, the unbanked population may get broader access to finance.
Usually, any transactions require paying around 3% fees to banks or card issuers. Cryptocurrency allows cheaper transactions, expected to reduce intermediary fees by $15-20 billion per year by 2022.
Users are getting more distrustful towards mainstream banks as the centralized system of finance is controlled by the government. People have no control over centralized financial systems, while in decentralized systems they have more power and ownership.
Read more in our recent Guide to Stablecoins to know the main advantages and limitations of stable cryptocurrency implementation.