Crytocurrency Upside And Downside
Over a decade, creating and trading of digital assets (cryptocurrency) has proven to be a substitute to the usual traditional form of dealings in financial suites. Banks and other financial institutions experience a tremendous downstream due to a new means of wealth acquisition and storage.
Nevertheless, financial institutions still play a vital role in the smooth running and survival of cryptocurrency due to its dependency nature which is as a result of its volatility. To some extent, crypto assets can be a store of value but the fear of missing out is the root of its volatility as the market is unstable hence scaring investors away.
Just as cryptocurrency can bestow fortune overnight, so high also is its power to wreck. Over the years, since inception of Bitcoin, investors are having sleepless nights due to the fear of losing their funds. Even though there are smart ones with Bot power, many investors cannot fathom how to deal with the market complexities. This however accounts for less adoption of cryptocurrency.
a: Could there be solution?
ai - Using cryptocurrencies for everyday transactions is quite inconvenient because of the high fluctuations (i.e high volatility) in price. A good instance is spotted in 2018 market downturn where cryptocurrencies experienced serious crash in prices. Bitcoin for instance went from peak price $20,000 to as low as $3,800. Many lost heavily as there was no umbrella to shield the heavy downpour of loss. This is one big restrictions for investors who wish to be part of the game.
a-ii: Introduction Of StableCoin
src
A "stable Coin" is a cryptocurrency pegged to another stable asset, such as gold or the U.S. dollar. It’s a global currency in cryptospace not tied to a central bank and has low volatility. Its aim is to provide cushion against volatility effect where traders/investors can hide for safety in time of price hike until it recovers. It can be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities (such as precious metals or industrial metals). For Bitcoin and Ethereum for instance, it is usual to see 5% to 20% increase or decrease in daily aggregate price of each which makes it practically unpalatable and inconvenient for daily transactions. With stable Coin, the latter is reinstalled and volatility minimized.
QDAO is an ecosystem that provides one of its kind decentralized stable assets against volatility by providing collateral for cryptocurrencies in the platform's stable coin (s) (USDQ, KRWQ, JPYQ, PHPQ and CNYQ) while still helping investors/users of the platform retain their cryptos. To put out confusion you may experience with this, QDAO simply allows you collateralize your crypto and get a simple stable trading asset and after the trading, you give it back and return your crypto.
The minimum value for an investments cannot be guaranteed by popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) etc hence it would be a wise decision to protect one's investment in such ecosystem as QDAO's until he can be sure of stability of the crypto assets.
Some benefits of QDAO's platform and token issuance.
- QDAO's aasets can be traded on the secondary market as regular stable coins such as KRWQ which has a very minimal volatility helping traders be efficient in their daily trading activities. It also helps them be on the safer side irrespective of what may happen on the secondary market.
- On QDAO's platform, the environment is quite immaterial in price determination as threshold has been set where the coin cannot go below a certain pegged price. USDQ for instance is one of its kind ERC - 20 decentralized stable asset proposed to cap the stability in this regard where it is set as a standard contract backed by Bitcoin assets. Each of the assets on the platform is set against fiat currencies they represent - PHP, KRW, JPY, CNY, HKD and USD in ratio as displayed in image below. USDQ and KRWQ already issued and amount is shown below as at the time of writing this post while others are on the queue.
- Holding stable coin on the QDAO platform brings more benefits as : earning more money for the holders, conferring the right to community governance to the holder by participating in the system control using the QDAO token.
- The issuance of USDQ is to rip off the need of Banks as middleman in making some mythical deposit into private account, for real store of value and high transparency. With regards to the nature of decentralized stable coin, it can’t fall or take off with big fluctuations. It is coded with self-stabilizing algorithms where it acts utmost as in stability and the market itself will always keep the price stable.
QDAO USDQ Tokens are already listed and trading on BTCNEXT, BTC Alpha and HOTBIT.
Conclusion
With QDAO stable assets, the undoubtedly game changer, traders will be more effective in their crypto dealings, existing investors will have more confidence in cryptocurrency and new investors willing to come in. This however will have a multiple effect and subsequently shape global economy into better form.
Join QDAO Community. Click On Image
.jpeg)
.jpeg)
.jpeg)
.jpeg)
.png)
.jpeg)
.png)
.png)
.png)
.png)
That 2018 crash was a hit on me. I lost around $6300 and I almost commited suicide. I told a friend and he laughed at me. E fit small but to me, it's big. I sold the rest Btc and diverted into offline biz. Now I have rest of mind. But with this stablecoin, I think I want to come in again.
Meanwhile,the point of attraction here is that qdao's legacy isn't just a stable coin but a measure and store of value as well as providing collateral over undefined period as I read up there.l joined their Telegram, checked their social handles and it seems they have good social interaction which is good for the business. Lastly, they've got a governance token already listed and trading hence I am positive usdq will do better.
Thanks Bob.
Oops sorry to hear that bruh. That crash actually affect a larger part of cryptocurrency. Glad that you read this. Go but some QDAO and keep for 2years. But make you know say no be investment advice sha. DYOR
I think this stable coin is a good innovation which will attract more investors and make them to have more confidence in cryptocurrency, as threshold is going to be set where the coin cannot go below a certain price.
I think this idea of QDAO token will bring more people back into cryptocurrency system again.
Yes my friend. That's undoubtedly right of what you said. Mainstream adoption is the goal.
I saw QDAO taken listed on coinmarketcap.com . Is it same token? I don't understand
Yeah, it is @jully3722
Hey bro. Good to see your around.
Yes. It's QDAO . The first governance coin on the platform.
I love how u simplified the details and all...awesome!!!
Thank you for reading through
That's a swift breakdown, the effort is appreciated
Thank you @elpriist
The truth been told, the major problem of basically all coin are fact that are they all not fully decentralized as the word should be,
The bitcoin was really a game changer initially, but the unstable coin having shown the world the actually value of crypto as against banking section which is governed by centralization and having power over value.
By with what QDAO actually bringing stability to the world of crypto i believe this will a massive change to the crypto as a whole, but holders and trader will be rest assured of value to their coin regardless of price hike on other currencies...
Lovely concept and innovative way of making crypto to be a globalize asset..
You got the gist bruh. You can actually collateralise your crypto assets with QDAO stable coin, trade on secondary market with it and when done, you take it back and return your crypto. That as well makes QDAO different from other stable coins.
Waoh, this is nice and it goes a long way in solving many problems associated with cryptocurrency coins volatility.
Being pegged and trading at the same time in a market makes it the more sustainable.
Might check it up.
That's the beauty of the project. Now one can conveniently go to bed while leaving his portfolio in USDQ stablecoin. Issue resolved
Why don't QDAO give good bonus for holding stable coins. Like weekly percentage.
Nice Article.
There are benefits for holding any of the stable coins which you can see on usdq.platinum.fund and as I explained in this article. I am pretty sure more benefits will suffice in future.
It's a beautiful project.
We hope to have you in the studio soonest to help build quality contents for the QDAO community.
Oh my cryptoTv friend, good to see you here. I hope to be there shortly and have me attend to your questions. Thank you for showing up.
Congratulations @bob-elr! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPVote for @Steemitboard as a witness to get one more award and increased upvotes!
Greetings my friend! You have received 1% upvote, thanks for being active despite of the bear market.
We are group of people that rewards users like you who can watch and comment in our topic video explained by Brother Eli Soriano, you can check our latest post here @hiroyamagishi.
We have dedicated 30,000 #SteemPower to vote for all the interactions in our post. It wasn't much, it's our little way of giving thanks for watching our video.
Join our group - Discord https://discord.gg/vzHFNd6