Topic: tied coin and other "stablecoins" (Read 148 times)
The platform you are talking about offers "All the benefits of a cryptocurrency without the price volatility!" which can be good if someone is in trading and/or just want to park his assets in cryptocurrency but without the risks of decreasing value but at the same time has no chance whatsoever of gaining anything. Good to hear that all coins are secured and really tied to a fiat currency held in escrow in a bank via an agreement with an Australian firm called Devisd Pty Ltd. I am aware that the stablecoin market is getting crowded and am sure there would be more entrants into this space soon, so I am hoping that TiedCoin can find its own niche market and would have a good adoption rate. Good luck.
FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?
If you pick Bitcoin, Ethereum, or any other top-ranked alt-coin, you’ll be exposed to extreme levels of volatility, compared to other assets.
And what if you need to move fast? Even if you’ve already set up your account, how are you going to fund it? If you use a debit or credit card, then, generally, you’ll have to pay a high fee, and you won’t be able to move that much fiat currency without your bank raising an eyebrow. What about a bank transfer? Yes, the fees are much lower than using a debit or credit card, but usually, a bank transfer takes a few days to clear into a cryptocurrency account — you could be waiting three to five days before your funds are available.
Remember the British pound to Australian dollar example earlier, if you wanted to take advantage of that situation in real-time, back in 2001, you had to have your cash ready to move — your account needed to be fully funded, ready for you to pull the trigger.
Yes, it is possible today to fund a cryptocurrency account and move your funds into a stable coin like Tether, But Tether has some yellow flags as discussed in the Powerball article.
One of the big issues with Tether is the proof of its collateralisation. Tether is supposed to be backed one to one with US dollars, but with a circulating supply of 1.8 billion, as recorded by coinmarkcap.com, there should be a bank account with $1.8 billion in it. The problem is no audit has proved this is true. If you sweep your cryptocurrency funds into Tether, you’re exposed to complete failure — if you’re unlucky enough to be holding it if news breaks that Tether is not fully backed by the US dollars it claims.
What if there was a way where you could move your fiat currency into a cryptocurrency exchange, transferring from US dollars, euros or Japanese yen, to a stable coin equivalent? A stable coin that is 100% verified, audited, and backed one to one with the underlying currency it represents?
What if there was a way to set up your cryptocurrency account so it’s ready to trade, safe in the knowledge your funds are protected from cryptocurrency volatility, while at the same time, having the protection of an asset that verifiably holds the underlying fiat currency in a vault.
There is. Tied coin, Tiedcoin.com, is a price-stable cryptocurrency that’s backed 1 to 1 with fiat currency. Tied coin is available in euros, US dollars, and Japanese yen. Each denomination is 100% collateralised by the corresponding currency it represents.
If you pick Bitcoin, Ethereum, or any other top-ranked alt-coin, you’ll be exposed to extreme levels of volatility, compared to other assets.
And what if you need to move fast? Even if you’ve already set up your account, how are you going to fund it? If you use a debit or credit card, then, generally, you’ll have to pay a high fee, and you won’t be able to move that much fiat currency without your bank raising an eyebrow. What about a bank transfer? Yes, the fees are much lower than using a debit or credit card, but usually, a bank transfer takes a few days to clear into a cryptocurrency account — you could be waiting three to five days before your funds are available.
Remember the British pound to Australian dollar example earlier, if you wanted to take advantage of that situation in real-time, back in 2001, you had to have your cash ready to move — your account needed to be fully funded, ready for you to pull the trigger.
Yes, it is possible today to fund a cryptocurrency account and move your funds into a stable coin like Tether, But Tether has some yellow flags as discussed in the Powerball article.
One of the big issues with Tether is the proof of its collateralisation. Tether is supposed to be backed one to one with US dollars, but with a circulating supply of 1.8 billion, as recorded by coinmarkcap.com, there should be a bank account with $1.8 billion in it. The problem is no audit has proved this is true. If you sweep your cryptocurrency funds into Tether, you’re exposed to complete failure — if you’re unlucky enough to be holding it if news breaks that Tether is not fully backed by the US dollars it claims.
What if there was a way where you could move your fiat currency into a cryptocurrency exchange, transferring from US dollars, euros or Japanese yen, to a stable coin equivalent? A stable coin that is 100% verified, audited, and backed one to one with the underlying currency it represents?
What if there was a way to set up your cryptocurrency account so it’s ready to trade, safe in the knowledge your funds are protected from cryptocurrency volatility, while at the same time, having the protection of an asset that verifiably holds the underlying fiat currency in a vault.
There is. Tied coin, Tiedcoin.com, is a price-stable cryptocurrency that’s backed 1 to 1 with fiat currency. Tied coin is available in euros, US dollars, and Japanese yen. Each denomination is 100% collateralised by the corresponding currency it represents.
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