3 safe and low-risk cryptocurrencies for beginner traders – The ₿log

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Tether (USDT)

If you, as a beginner, are worried that the volatility of the crypto market is affecting your wallet negatively, then Tether is the solution for you. It is a stablecoin backed by the US dollar. That is, the value of the crypto market, especially Bitcoin, remains stable relative to the fluctuations.

Most crypto exchanges like Biance allow you to buy coins directly. USDT by credit card or bank transfer. So you buy crypto without being exposed to the volatility of this market. Your 1000 USDT remains equal to 1000 dollars.

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Tether is also an important part of the cryptocurrency ecosystem. according to website slateAn estimated 7% of Bitcoin transactions are made in Tethers (BTC/USDT pair). This represents a daily trading volume of approximately $21 billion.

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PAX Gold (PAXG)

To enter the crypto market smoothly, you can choose to trade with synthetic tokens that are less volatile than classic cryptos like the one below. to the left where Polka-dot.

most PAX Gold (PAXG) It is a particularly interesting cryptocurrency. Backed by gold. It is a commodity-backed stablecoin. The company that published it is Paxos, headquartered in New York. Paxos maintains a physical gold reserve to support the PAX Gold crypto.

and also #Bitcoin It was established after the 2008 crisis. Nothing and no one can control it, its inflation is regulated and provided by its code. It will never be more than 21 million. And for those who fear its volatility, there are stablecoins backed by eg $ or gold = $PAXG

— Risitov (@Risitov) 24 November 2020

Each PAXG token can be redeemed for one ounce of gold held in the coffers of Paxos and its partners. With PAXG, investors are exposed to the price of gold, which is much less volatile than with regular cryptos.

Additionally, PAX Gold is an ERC20 token running on the Ethereum blockchain; therefore interchangeable for other Ethereum tokens in DEXs change.

Binance Coin (BNB)

most Binance Coin It is the native cryptocurrency of Binance, the largest cryptocurrency exchange with a daily trading volume of approximately $2 billion. BNB often remains in the top 5 of CoinMarketCap, with a market cap of around $70 billion as of April 13.

BNB can be used to pay for products and services, pay transaction fees on the Binance Smart Chain, and participate in ICOs of new projects.

There are several advantages to holding BNB and using the Binance platform:

  • trade : Binance Coin can be exchanged for other cryptos with low fees.
  • Reducing transaction fees on Binance.
  • Payment method for traders: merchants can accept BNB for their products and services through: Binance Pay Trader.
  • Travel booking : Some websites can use BNB to book hotels and flights.
  • BNB can be staked or loaned On Binance and earn passive income.

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Alm Maye has been a trader and analyst since 2013. He specializes in stock markets, Forex and cryptocurrencies. He is the creator of Almvest.com and Imveste.com, two sites dedicated to personal finance. He participates in the development of featured articles on specialized sites such as actions-boursieres.fr and the international network of Finixio.com.

Source From: Google News

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