Cryptocurrencies are unique instruments in the investing world. They share many characteristics of traditional currencies but can also serve as platforms for more sophisticated financial products.
Judging by their price history alone, cryptocurrencies are easy to dismiss as a bubble. And, indeed, the crypto space is filled with questionable offerings.
However, a discerning look reveals a new financial technology with the capacity to fundamentally change the global economic landscape.
There are different types of cryptocurrency, but these six are among some of the more well-known currencies:
- Bitcoin (BTC) One of the most commonly known currencies, Bitcoin is considered an original cryptocurrency. …
- Litecoin (LTC) …
- Ethereum (ETH) …
- Ripple (XRP) …
- Bitcoin Cash. …
- Ethereum Classic.
Now there is a third bloc…STABLE COIN. Stable coins are cryptos meant to hold a stable value. They are generally pegged to $1USD. In clearer terms, “stable coin” is a term used in cryptocurrency to describe cryptocurrencies meant to hold stable values. For example, Tether (USDT) is a blockchain based asset meant to trade for $1 USD. Tether is a “price-stable cryptocurrency” that is “pegged” to the U.S. dollar.
Stable coin has not particularly enjoyed it’s a fair share of trading especially when it comes to cryptocurrencies in Africa. That gap is what PATRICIA TECHNOLOGIES, Africa’s leading online Gift-card and Cryptocurrency exchange company with branches in Nigeria and Ghana, intends to fill as the e-commerce firm recently announced the introduction of stable coins into the African market for trading.
Speaking at a briefing on the need to introduce to Africa a whole new crypto trading experience, the founder of PATRICIA TECHNOLOGIES Mr Hanu Agbodje expressed his satisfaction with Africa’s technological growth and the continent’s open hands to cryptocurrency trading.
“The media has covered cryptocurrencies for a few years now. Despite these efforts, the true nature of cryptocurrencies remains somewhat murky and undefined. At the moment, cryptocurrencies represent different things to regulators, bankers, and to the general public. We intend to offer Africans something reliable, beneficial and that will boost the IGR of many African countries”, he said.
“Stable coins are important for exchange users, exchange operators, and for the cryptocurrency market as a whole”, he concluded
It’s a fine feather in the cap of PATRICIA, Africa’s first gift card trading company that services customers in Nigeria and Ghana. These Customers who want to trade gift cards and convert crypto-currencies like Perfect Money and Bitcoins for cash trade in a safe, fast, easy and convenient way at the comfort of their homes.
PATRICIA is a platform that thrives on pushing the boundaries of financial innovations by bringing more value to our tables.