CUSD — A cryptocurrency with a stable value

Enjoy the purchasing power of CUSD

What is a stable coin?

The major drawback of cryptocurrencies had been the volatile nature. The value of the coin depends on market trends and thus the purchasing power of a particular coin varies. A stablecoin is an innovative class of cryptocurrencies whose penultimate aim is to offer price stability. There is traction towards stable coins due to its ability to combine the advantages of cryptocurrency and fiat currencies. This stability is achieved by pegging its market value to some external reference. The most common ways are pegging the value of stable coins to either USD or precious metals like gold, or silver. This is called collateralization or backing.

Introducing CUSD

CUBE USD (CUSD) is a stable coin backed by USD. CUSD is a cryptocurrency with a stable value. CUSD at an initial stage is powered by ethereum platform and this makes CUSD accessible across all ERC-20 wallets. This gives the users, a wide variety of wallets to opt for, unlike some stable coins which are restricted only to few wallets. The key advantage of CUSD when compared to other stable coins in the market is its ease of access. Though CUSD is backed by USD, it is derivable to 192 national currencies of your choice. In layman terms, you can convert CUSD to either USD or other national currencies like GBP, SGD, PHP, INR & more through CubeX, a centralized, easy to use the crypto exchange. The CUSD is regulated by a global custodian and trustee. Hence CUSD can be used from anywhere unmindful of where you are located on the globe. This wide scope of operation will help you make seamless and borderless transactions. If you are from any part of the world, you can CubeX to convert your CUSD to your national currency in no time.

Need for stability

Though the cryptocurrency has occupied the market, the short-term volatility makes them unsuitable for everyday use. Apart from acting as a medium of monetary exchange, a good currency should be stable over longer time horizons. It should retain its purchasing power even after years of holding by the users. Only then, the coin is suitable for use. The inflation should be as low as possible to encourage spending of the coin in the real-time market.

When the value of fiat currencies move drastically, the governing bodies jump in and regulate the supply of currencies to maintain a stable price. But, this feature is lacked by most of the leading cryptocurrencies in the market. They neither have a reserve to back their value nor a controlling authority. This is where the need for stable coins like CUSD comes into the picture. CUSD bridges the gap between fiat currencies and cryptocurrencies.

CUSD — derivable to national currencies

CUSD is backed by the fiat USD reserve. CUSD has a value equivalent to that of a single USD and is backed by dollar deposits. Pegging against the USD literally means, CUSD maintains a 1:1 ration with the US dollar in terms of value. Once you step into the Cubex platform, you can convert your CUSD at a ratio of $1 for 1 CUSD. You can send this CUSD to anyone in the world or trade them or convert them back into USD through CubeX. CubeX also facilitates the users to spend them in their favorite national currencies. There are some countries whose regulations do not allow direct spending of cryptocurrencies in their market. Cubex helps them by making the conversion of CUSD to 192 national currencies possible. It is not just one or two, it is 192. You can literally enjoy the purchasing power of CUSD like never before. No coin in the market can be derived or converted to these many national currencies. This makes CUSD, the best stable coin the market has ever met.

CUSD makes the transactions transparent and lightning fast like a traditional cryptocurrency. Also, it inherits the involatile nature of fiat currencies. CUSD greatly improvises the current financial system and all transaction-related services as they make borderless transactions cheaper and faster. CUSD benefits both the end-users and the providers. CUSD aims to provide financial services to millions of unbanked people and people who are from underdeveloped nations who do not access to proper financial services.

Tokenomics

CUSD is a coin whose supply is variable. By regulating the supply, there is always a demand for the coin in the market. This makes CUSD, the most used coins in the market, escalating its value. The starting supply is set to 20M by the network and will vary accordingly. The CUSD has a decimal of 18. Decimal is nothing but a number of decimal places CUSD has. Decimal allows you to divide your tokens into an arbitrary amount. If you have 10 CUSD, the ethereum blockchain or EVM (Ethereum Virtual Machine) will not allow you to send only an integer number of tokens. If you wish to send 1.5 CUSD, it is not possible. This is where the decimal function proves useful. Typically all the ERC-20 tokens follow the decimal value of 18 unless they have any strong reason to not use it.

Closing thoughts

The potential of CUSD is luring many private and public organizations as well as the crypto players, either big or small. CUSD will break the global monetary system and will establish itself as a dominant player in the cryptocurrency world.

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