Few decades ago , I don't know that there are a lot more coins that exist in the crypto world. The funny thing is that I didn't know that BTC existed at that time. The only thing that I knew about BTC was that it was a scam, even though it was not (since I was one of the scam victims in fraud and money games years ago). It was sad that we didn't have good access to the internet at that time to get fast information; the only information that we got at that time was the newspaper, which sometimes gave false information.
STEEM is the first crypto that I learned about; I guess I only know 5% about it, and I only started digging into crypto after everyone started doing HIVE. After learning about HIVE, I learned there were terms for HIVE: HIVE POWER and HIVE DOLLAR.
- HIVE was listed as a crypto token that changes according to the current market.
- HIVE POWER was power that gave you value for every vote you had in the ecosystem. It also gives you mana, or power, to comment, post, or upvote on other users profiles.
- HBD, or hive dollar, gives value or is pegged between HBD and the dollar. It was still considered one of the undervalued stablecoins in the market until now.
What are stablecoins?
According to Wikipedia, a stablecoin is a type of cryptocurrency where the value of the digital asset is supposed to be pegged to a reference asset. In theory, 1:1 backing by a reference asset could make stable coin value tracking possible. However, stablecoin issuers have yet to be proven to maintain adequate reserves to support a stablecoin value.
This is the list that I consider the best stable coin in the market now and the stable coin that I trust and that is popular for the time being:
Tether (USDT)
Binance USD (BUSD)
and of course, Hive Dollar (HBD).
and the list goes on check the stablecoin list
It was sad that HBD is still not as popular as USDT and BUSD, which are being used in daily trading in many brokers.
Why stablecoins are important:
Let's see the bigger picture, which includes every stablecoin that is available on the market now. This is one point that makes stablecoins very important.
Access to cryptocurrencies
Stablecoins have been used to connect cryptocurrency with the traditional banking system. It was much easier to get USDT that has been pegged to 1 USD than to get 1 ETH, which has a different value in USD.Reducing volatility
As crypto was very volatile according to the world market, stablecoins tried to keep their value based on USD (most of them). This makes it much safer to keep digital coins using stablecoins than crypto.Lower fees.
Moving coins from one wallet to another might use a higher gas fee. It was much cheaper to transfer stablecoins from wallet to wallet.
CAN HBD BEING ON TOP 10 LIST OF STABLECOIN ?
I was said but true that HBD didnt even being listed top 10 stablecoins . This is the stablecoins that being listed in https://coinmarketcap.com/view/stablecoin/ .
I believe that HBD is ready for being use in market . It giving fast transaction between wallet , free transaction services and secure . It still undervalue stablecoins , but as HIVE being popular and known to everyone , it is not impossible that HBD will rise and become one par with other popular stablecoin.
Personally , i can count how many people know about HIVE in our community . It was our responsibility to bring this technology to our friend because marketing mouth to mouth is much faster to let everyone in community know about this than to learn by ourselves in the net .
Hope AND EXPECTATION
5 years from now, I believe everyone will know about HIVE. The leading social media platform in crypto The potential is huge for HIVE to become the most well-known crypto on the market. I hope there is a younger generation that is familiar with developing HIVE ecosystems to make it possible and simplify HIVE in our community.