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May 25, 2020
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Bitpreço explores advantages provided by stablecoins

The so-called stablecoins have been gaining confidence and popularity among all investor profiles. With that in mind, Bitpreço offers interesting options for its users.

The advantages of using stablecoins are numerous. However, first of all, we need to understand the purpose of these coins a little better. Firstly, stablecoins are mostly backed by fiat currencies, which makes it possible to trade cryptocurrencies and at the same time seek stability outside the traditional financial system. In addition, transactions are made on the blockchain and do not need to follow bank expedients.

Some years ago, certain projects took advantage of the strength of the US dollar and developed stablecoins backed by Uncle Sam’s currency. Among the most widely accepted projects in the world, we can mention Tether’s USDT and TrustToken’s TrueUSD (TUSD). So far so good, but what about the Brazilian market?

The need for Real-backed stablecoins

Assuming that exchange rate fluctuation fatally affects Brazilian investors, it is essential to have a stablecoin backed by the real. With that in mind, the Bitprice – well-known Bitcoin and Ethereum marketplace – also provides stablecoins backed by good old BRL. Exchange currently supports four projects, CryptoBRL (cBRL), BRZ, RealT and RAS (Real Asset Service).

Bitpreço options available for BRL-backed stablecoins

It is worth remembering that at Bitpreço it is not necessary to buy stablecoins directly. Just ask for them when withdrawing in Reais.

Still looking for greater usability, there are good partnerships in progress – such as that of CryptoBRL with Alterbank, where the user can withdraw their cBRL to the fintech account 24 hours a day, 7 days a week, with zero withdrawal fee and guarantee of parity with the Real (1 cBRL = 1 BRL).

Central operations involving stablecoins? Yes, it is possible

The marketplace idea for the two largest cryptocurrencies on the market has already proven to be effective. So, why not repeat the strategy now targeting stablecoins? In this sense, a specific term emerges that promises to make noise from now on: the concept of StableHub.

For André Hamada, co-founder of Bitpreço, the unification of this operating environment is strategic:

With Stablehub, Bitpreço aims to unite the different stablecoins in one place, so that the user can easily exchange them for other currencies, or even for real ones, bringing more ease and flexibility to the use of stablecoins.

This is, in fact, another step towards a better user experience for your customers.

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