TiedCo announces the launch of Tiedcoin, the world’s first Japanese Stablecoin which is an exclusive partnership with the BeaXchange trading platform. The world’s first currency which is collateralized by the Yen and the Euro was announced by Tesco. This is the first of its kind as it is a Yen-denominated cryptocurrency.
The coin is called a Tied coin and it is a stable coin. TiedCo partnered with the exchange on this currency which can be repurchased for a value close to the face value by TiedCo. This cryptocurrency has a greater liquidity potential as it has a unique market.
Depending on the currency your tied coins are tied to (Euros or Yen), the company has claimed to provide a 100% buyback value guarantee which means, and these are easier to sell. The partnership with Beaxchange also permits the trading of bitcoins, Ethereum and other cryptocurrencies to get the tied coins and vice versa. These transactions do not require a fee, unlike others.
This means one can convert their unstable currencies to stable coins for free. On selling a tied coin, the money’s worth is immediately returned back to you. The emergence of Stablecoin in the cryptocurrency exchange market has made it more attractive. Many investors have hitherto held off their joining the ecosystem due to the instability of the currencies, which used to be a major problem.
The stablecoin is a Fiat-backed and so they reduce the risk involved in trading
This is similar to the protection that Central Banks have as the trading is linked to the Euro and Yen reserves such that when a Tied coin is purchased, the money’s worth goes to the Euro or Yen reserves, depending on which it is tied to Investors are more at peace knowing that they can buy and sell the currencies at will.
The traditional cryptocurrencies do not have the advantage of stability. The partnership between TiedCo and beaXchange affords investors the ability to convert their unstable coins to stable ones.
Stablecoin is being operated based on two models. One model has no backing and can move from being valuable due to its stability to being worthless. They are influenced by algorithms or market shifts.
The other model has backups which may either be in the form of properties or assets kept by the companies selling them or fiat currency. Stable coins operated based on the latter principle are usually safer to invest in and the market is regulated by demand and supply.
TiedCo Principles are Operated Based on the Latter
The market is large and enables easy liquidity in a safe environment which is monitored by the company to ensure only lawful practices are involved in by customers. It is even more preferred because it provides a platform for trading of unstable coins like Bitcoins to stable coins like Tied coins.
Last month, the bitcoins made a bullish advance overnight which caused their cryptocurrency cousins the altcoins to become extremely bearish. The altcoins were still experiencing massive gains until the bitcoins which had been relegated to the back after their bullish regime in December 2017.
The present boost in the bitcoin market has super-ceded that of 2017. Some cryptocurrency analysts postulate that this nuking of the altcoins will only make the next bullish advance season of the altcoins a sweet experience. Some others do not think so.
Trading in of the Stablecoin is obviously unpredictable and risky. There are still some profits from the altcoins but they are rather too small. This kind of instability is what makes the idea of trading in Tied coins very attractive to investors. It is expected that more investors will trade in their bitcoins and altcoins for Tied coins in years to come.
373 total views, 1 views today
- How to Invest in Property: A Beginner’s Guide - Jul 29, 2021
- 5 ReactJS Security Vulnerabilities – How to Fix Them - Jul 29, 2021
- 6 Best Remote Work Ideas to Make Money Remotely - Jul 29, 2021