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Digitalization has changed our lives by affecting every aspect, including future of digital finance with stablecoins. Many contents, such as social media, cryptocurrencies such as stablecoins, smart mobile phones, 3D visuals, and virtual reality, are reflections of digital and technological developments.
Thanks to these reflections, many changes are taking place in financial technology. We see that cryptocurrencies, stablecoins, blockchain networks, tokenization, and many different investment instruments, have become popular.
This popularity continues with technology in an ever-increasing way. It is not possible to regress because, as technology continues to develop, digitalization in every field grows sustainably.
Maybe at the end of about 15–20 years, flying cars, teleportation, and crypto payment entirely will be in question. Developments that seem like dreams now may be one of the phenomena that make our lives easier in the future.
20 years ago, it was possible to think that video chatting with someone in another country in the world with smartphones would be nonsense. At this point, the world order has reached other levels.
Therefore, join us in this blog as we examine stablecoins, which are seen as the future of money, in detail. In this way, you will have a comprehensive idea about stablecoins, types of them, how they work, and why they are important, and how they will cover all areas in the future.
Stablecoins are cryptocurrencies that have a value that is tied to another currency or financial instrument. They are a low-risk option to popular cryptocurrencies, which change in value frequently.
Stablecoins are not only stable and transparent but also risk-free. The risk is high in cryptocurrencies with rapid changes. To prevent this situation, stablecoins indexed to real-money value come into play.
The transparent transactions of stablecoins, which are kept on a public blockchain, show how transparent money flows could change the way financial markets work. There are some types of stablecoin options.
Euro stablecoin is a type of stablecoin that is 1:1 pegged to euro. EURK is a great and reliable example. To summarize in a simple way, the person who buys 1 EURK stablecoin owns a digital currency worth 1 Euro.
If the investor decides to sell EURK, he/she/they will sell at the current value of the euro. Therefore, it is one of the safest systems that prevents fluctuations, risks, and losses and provides fast, secure and easy access.
We see that stablecoins are divided into some types within themselves. Generally, there are four types of stablecoins that are commonly seen.
As the name suggests, it is a stablecoin type that utilizes algorithms. Since it does not have a very common usage area, it will be a little difficult to come across.
Stablecoins can be equivalently indexed to many assets. The most common equivalence and indexation will be against real, physical, or tangible currencies.
This is the type that corresponds to real money values at a 1 to 1 ratio. It can be indexed to the dollar, euro, sterling, yen, TL, peso, and all other currencies that come to mind. It is widely preferred due to its one-to-one correspondence and security.
It is a type of stablecoin where cryptocurrencies are preferred for collateral use. Therefore, it will move in parallel with cryptocurrencies in value.
Some metals and minerals have a valuable structure. For example, we see that gold, silver, and various types of metals are used for investment purposes.
Commodity-backed stablecoins will correspond to these metals and have a valuable structure. It is also found as a stablecoin type used in some types of real estate tokenization.
Cryptocurrencies have different and specific working systems. According to these systems, types such as crypto coins, crypto tokens, altcoins, and stablecoins are encountered.
All of them offer different advantages and features. It is seen that they appeal to different audiences due to their different operating systems.
For this reason, the number of people wondering how their working systems work is quite high. We often come across questions, such as how stablecoins work.
Stablecoin’s working system is different from other cryptocurrencies. Like its name suggests, it has a stable structure. In order to avoid price fluctuations in a short time, it has a price value equal to real and tangible currencies.
For example, if we take the value of 1 Bitcoin, the value may increase or decrease very quickly during the day. As a result of this situation, there is a possibility of high earnings. However, it is possible to see big losses in the case of decreases.
Therefore, Bitcoin, which is available as a cryptocurrency, is not available as a stablecoin. To give an example of stablecoins, let’s take EURK, indexed with the Euro.
Since the value is completely equal to the real currency, the euro, changes and waves are not seen. It will also be less risky due to earnings such as interest. The reduced risk may reduce the profit margin compared to cryptocurrencies.
However, it reduces the possibility of loss to almost zero and provides security. As a working system, it would be correct to think of it as barter or exchange. The people who buy EURK invest in digital euros and exchange cash euros for digital euros. Therefore, equal values such as 1:1 arise.
Stablecoins have a very important role in cryptocurrencies. The main reason for this importance is that some people want to invest in cryptocurrencies but have reservations. People are not willing to dare or to risk too much.
Here, stablecoins come into play and help with their risk-free, transparent, and ultra-reliable structure. We have explained in detail above the functioning of stablecoins, so there is a direct equivalence with real currencies such as euro or dollar.
For this reason, they play an important role for hesitant investors and individuals who do not like risk. Stablecoins are of great importance for individuals who are satisfied with interest income.
Furthermore, they provide an option to avoid huge price fluctuations during global payments, e-commerce payments and cross-border payments for businesses and individuals.
Stablecoins such as the euro and dollar are among the most widely used types. The Euro-based stablecoin EURK, which has the same value as the euro, is one of the most widely used options.
EURK stablecoin is provided by Cryptobunq and has reserves both in Switzerland and The Dominican Republic. Cryptobunq is a reliable one-stop shop crypto service provider for all your crypto service needs.
Euro stablecoin EURK, built on multiple blockchains, enables innovation, reliability, and efficiency, while offering fast, secure, and transparent transactions. Check our articles “buy/sell EURK” and “transfer EURK” if you decide to invest in stablecoins and benefit from the advantages.
While the future of cryptocurrencies is being wondered about, it is equally curious how alternative coin types will take shape in the future. Alternative coins that have emerged recently have very common areas of use. It is known that the first cryptocurrency to emerge was Bitcoin.
Emerging in 2009 and making a big splash in the world, the digital money was issued by an individual named Satoshi Nakatomo. As a result of the year’s progress, Bitcoin gained value while alternative currencies were born.
In addition, it is seen that stablecoins, which have a structure preferred by investors who do not like risk, have widespread use. The fact that they are less volatile than cryptocurrencies and are equivalent to real money increases interest.
With the increase in interest in stablecoins, normal foreign exchange investments have declined. When people buy digital currencies, they also invest equivalent amounts in foreign currencies. Therefore, stablecoin is much more practical and easy to use.
Fast transaction options, transparency, and global usage opportunities keep the future of stablecoins bright. Especially stablecoins such as EURK, which has a euro-backed stablecoin structure and is indexed 1 to 1 with the euro, will attract more and more attention every day.
As a result of research conducted in 2023, 5 percent of the world’s population is included in cryptocurrencies. For this reason, the fact that the figure is too high will also give us an idea about the future of stablecoins.
Probably at the end of about 20–30 years, cash coins will disappear and stablecoins corresponding to the same value will be used completely digitally. If you want to step into the future of digital finance with stablecoins, contact us.
Explore the future with EURK by investing in euro stablecoin. You can easily buy EURK from our reliable partners, such as Speedy, The Guardian Bank, The Kingdom Bank, Reisbank and CBQ, and get ready for the future of payments!
