StealthEX to List Tether Gold and Euro Tether Stablecoins
Cayman Islands
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April 14, 2023 08:49 AM Eastern Daylight Time
StealthEX is a platform that allows instant crypto swaps continuously, starting in 2018. Since then, it has collaborated on several crypto projects. Another one is joining the long list - the largest stablecoin issuer Tether (USDt). What does this mean? StealthEX listed two of the company's cryptocurrencies: EURt and XAUt.
What Are Stablecoins?
Stablecoins are a digital currency tied to a reserve asset, which is often the US dollar (but, as it turns out, not always).
Stablecoins - as the name suggests - are supposed to be stable. Most cryptos are very volatile assets, and this is one of their biggest drawbacks. It makes it hard for them to become widely accepted means of payment. Stablecoins, meanwhile, are intended to have low volatility - similar to a fiat currency like the USD (e.g. USDt) or EUR (e.g. EURt).
However, it is worth noting that stablecoins do not have to be pegged to a fiat currency. They can also reflect the price of other assets - like Tether Gold (XAUt) reflects ownership of physical gold.
So what unique features do the two new stablecoins that can now be traded on StealthEX have?
EURt: Euro on the Blockchain
The EURt is a Tether cryptocurrency pegged to the euro exchange rate. So why is it better to own a digital version than its traditional counterpart? There are at least several reasons for this:
Convenient payments and value storage - Crypto investors can conveniently pay with stablecoins for Bitcoin, Ethereum, Litecoin, and thousands of other virtual assets. They can also hold them securely in their cryptocurrency wallets - outside the control of any institutions. Stablecoins like EURt are also increasingly used to pay for goods and services. For some time now, crypto exchanges have issued VISA or Mastercard crypto payment cards that make it easier. In addition, stablecoins are being integrated into mainstream platforms like social networks or messaging services.
Paying tax later - Using stablecoin is also associated with advantages in accounting investment profits. According to current regulations, in most countries, the tax obligation only arises when the crypto is exchanged for traditional currency, goods, and services. Therefore, using stablecoin, you can exit the crypto market and realize profits without paying taxes.
Tether Gold (XAUt) - Crypto Gold
Tether Gold belongs to a group of gold-backed stablecoins built on the ERC-20 standard and is the group's leader. XAUt market cap currently stands at nearly $500 million.
One XAUt token represents ownership of one pure troy ounce of London Good Delivery gold. The bars in Tether's reserve are identified by serial number, purity, and weight. XAUt holders can check the details at any time via the website.
Moreover, they can apply to redeem gold in physical form if they have a minimum amount of XAUt and undergo verification. For now, physical gold can only be delivered within Switzerland. However, token holders can instruct the company to attempt to sell their gold and receive cash from the sale (minus fees).
But why are investors buying "digital" gold instead of physical gold? There are at least several reasons for this:
Gold in token form has substantial liquidity on crypto exchanges.
XAUt can be bought in fractions, which allows you to invest in gold with small capital.
XAUt token can be converted into physical gold or cash.
XAUt and EURt on StealthEX
The two above-described coins (and USDt on many blockchains) can be bought directly on StealthEX platform. What does this mean?
You buy digital gold or euros with a few mouse clicks.
You don't need to go through KYC verification to complete the transaction.
You keep more privacy.
Conclusion
Stablecoins can change the world of finance. However, they need wider adoption. StealthEX is undoubtedly contributing to the popularity of this kind of cryptocurrency. The integration of EURt and XAUt expands Tether's offerings, inviting users to explore the diverse possibilities and real-world applications these stablecoins provide.
About StealthEX
StealthEX is an instant cryptocurrency exchange for limitless swaps. The service is free from registration and does not store user's funds on the platform. StealthEX is the best place to buy cryptocurrency. 700+ assets are available for quick and easy exchanges. Data privacy and security is a top priority for StealthEX, so all the swaps are non-custodial, and forever will be.
Contact Details
StealthEX
Vadim Taszycki
Company Website
