The current state of the cryptocurrency market is a freezing cold landscape. Prices have tanked heavily since the FTX crash, and investor confidence across the market has been heavily shaken.
During tumultuous times like these, stablecoins like Tether (USDT) and USD Coin (USDC) are proving a popular choice with investors. Pre-sale coins like Big Eyes Coin (BIG) are also selling like hotcakes. In this article, I will be exploring why during the bear market you should look to pick up stablecoins and pre-sale coins to help you tide over the crypto winter.
What are Stablecoins?
Stablecoins are cryptocurrencies that are pegged to a stable asset, such as the US dollar or gold, to reduce price volatility. The goal of a stablecoin is to provide the benefits of a cryptocurrency (such as fast, cheap transactions) while maintaining a stable value. This makes stablecoins useful for storing value and conducting transactions that require stability, such as paying salaries or invoices.
There are several types of stablecoins, including those that are backed by a physical asset (such as gold or silver), those that are backed by a fiat currency (such as the US dollar or euro), and those that are backed by other cryptocurrencies.
The two most popular stablecoins are Tether (USDT) and USD Coin (USDC). Tether and USD Coin are both fiat-collateralised stablecoins, meaning it is backed by a reserve of fiat currency (such as US dollars) held in a bank account. Both Tether and USD Coin are widely used as a means of storing and transferring value on cryptocurrency exchanges and other platforms.
Why should you pick up Stablecoins during this Bear Market?
Stablecoins are more popular now than ever in this bear market, as they allow firm believers in the future of cryptocurrency to stay staked into the market, but also whilst not exposing them to the wild swings in price – investors are using them as a hedge against volatility.
Stablecoins are fantastic for this because they are designed to maintain a stable value, regardless of fluctuations in the market. For example, if you have a stablecoin that is pegged to the US dollar, the value of your stablecoin should remain relatively stable, even if the value of other cryptocurrencies is fluctuating. This can be useful if you need to store or stably transfer value, or if you are concerned about the risk of holding a highly volatile crypto asset.
In addition to their stability, stablecoins also offer many of the same benefits as other cryptocurrencies, such as fast, cheap transactions and the ability to transfer value peer-to-peer. This makes them a useful tool for conducting transactions and storing value in the cryptocurrency ecosystem.
That being said, it is important to note that while stablecoins are designed to be stable, they are not immune to price fluctuations. For example, if there is a sudden change in the value of the asset that a stablecoin is pegged to (such as a sharp drop in the value of the US dollar), the value of the stablecoin may be affected. It is also important to consider the potential risks of using any cryptocurrency, including the risk of hacking or fraud.
Pre-sale Coins are the way to stay warm this Crypto Winter
Big Eyes Coin (BIG) is a brand new meme coin on the Ethereum network that investors are flooding to invest in. Having sold over $13 million this past weekend, it’s not hard to see that its momentum will continue to snowball.
As Big Eyes Coin is in pre-sale, like stablecoins, it is not affected by the wild fluctuations of the market. Big Eyes Coin is set to launch later this year, so look into picking up as much Big Eyes Coin as possible during pre-sale! By picking it up at pre-sale price, not only will you be protecting your crypto investments from the market volatility, but you’ll also maximise your potential gains – the price of Big Eyes Coin is only headed up from here.
Stablecoins and pre-sale coins are one of the best ways to stave off the huge amount of uncertainty and associated volatility with the crypto market. Join the rest of the investors huddling together to keep warm in this harsh environment, and look into Tether (USDT), USD Coin (USDC), and Big Eyes Coin (BIG).
Use promo code BIGsave944 for bonus tokens at checkout!
Big Eyes Coin (BIG)
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido