CoinWind Academy Series: 3 Minutes to Know $HUSD
There are terms and keywords that are used in different professions or fields. Such words define the work, process, and functionality of the profession. These terms, which could be confusing to a newbie, are what set each profession apart. Cryptocurrency equally has its own keywords that explain it and are easily understood by those in it.
There are plethora of these terms, however, there are some key words that are often used more than others in crypto conversation. The word stablecoin has found its way into the crypto lexicon and has since become a mainstay.
As a way of definition, stablecoin is a type of cryptocurrency whose value is tied to an asset which could be a fiat like the U.S. dollar or gold. This is done primarily to stabilize the price. Examples of these included but not limited to Tether (USDT), BUSD, PAX, and HUSD.
The volatility of cryptocurrency makes it expedient to do this as major ones like Bitcoin and Ethereum are not stable. The price fluctuations means a lot which thus makes stablecoins offering stability, the choice of many in storing assets.
WHAT IS HUSD
HUSD is a stablecoin launched on Huobi Exchange with its price fixed with fiat currency or gold. At its launch, it aims at aggregating four stablecoins which are Paxoz Standard, True USD, USD Coin and Gemini Dollars into one token on the Huobi Exchange. When any of the above four coins are deposited, users could withdraw HUSD. However, changes have been sought to this as it now operates concurrently in Paxos-owned bank accounts in the US.
WHY IS THE HUSD PREFERRED?
Among other things, and according to the official website, it aims largely at
* Eliminating the need to choose between various stablecoins.
* Saving costs when switching between stablecoins.
* Offering a safe and secured token.
* Offering a fast transaction at a reduced cost.
HUSB USE CASES
* Storing assets as it does not fluctuate like Bitcoin and Ethereum, hence having no risk of loss as it comes with price stability..
* It can be used for completing transactions.
* As a stablecoin, it is used to make payment for goods and services rendered
WHERE TO BUY HUSB
3. Hoo: https://hoo.com/spot/husd-usdt
4. Biki: https://www.biki.com/trade/HUSD_USDT
HUSB SOCIAL MEDIA LINKS
1. Website: https://www.stcoins.com
2. Twitter: https://mobile.twitter.com/stablecoin_husd