Cobinhood, a zero-fee cryptocurrency exchange, lists four new stablecoins, which will be available to users from tomorrow: the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX) and TrueUSD (TUSD).
Representatives of Cobinhood comment:
"The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange so the community understands that their voices have been heard and stability is being made possible," says Co-Founder Wei-Ning Huang. "Our mission is to make the space more approachable for anyone who wants to participate."
GUSD, DAI, PAX, and TUSD will be available on Cobinhood for depositing or withdrawing and trading for all users. Each stablecoin has a unique set of functions that are aimed at obtaining the same result: to increase the stability of the crypto market. Ordinary cryptocurrencies can highly change their rate, often changing their value by 20-30% within a few hours.
Existing stablecoins were created to reduce the high volatility of the crypto market since their value is pegged to a fixed currency: USD, EUR, CNY or JPY, sometimes even to gold or oil.
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