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Join date : 2022-10-27
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Pros of USD coin Empty Pros of USD coin

Mon Nov 21, 2022 5:25 pm

• USD coin has many high-value and reliable partnerships with large firms, that give the project stability and credibility. These include Goldman Sachs, Bitmain and IDG Capital, and these high-profile links mean USD coin can be seen as trustworthy

• Transfers with USD coin only take roughly 15 seconds, compared to the minutes it takes for a fiat wire transfer or similar – this means it has a use case in transferring money across the globe quickly

• The cost of money transfers remains the same no matter the size – it is the Ethereum gas fee-, and this means for high-value transfers it can be cheaper than other fiat versions, which may take a percentage

• Compared to the US Dollar, you can earn a much higher interest on the coin with decentralised apps, so is more profitable when holding than fiat currency.

• It is backed 1 to 1 with the US dollar – one of the strongest and most reliable currencies in the world, so is also a very reliable stablecoin.

• USD coin can be used by those who don’t have access to traditional bank account due to age or location, so can still cash out other coins into an exchange
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