Among the myriad of stablecoins available, USDT stand out as one of the frontrunners in the market. In this article, we'll delve into what is stablcoin, USDT and USDC, and why you should choose USDT payout from Yetu as a non-US creator. What is Stablecoin? Imagine you have a digital form of money that can be used online, just like how you use physical cash or your bank card for purchases, but it's based on the technology behind cryptocurrencies like Bitcoin. However, unlike Bitcoin, whose value can jump up and down unpredictably, this digital money, called a "stablecoin," is designed to have a stable value. It achieves this stability by being pegged or linked to something stable in the real world, such as the US dollar, Euro, or even gold. This means that if you have 1 stablecoin pegged to the US dollar, the idea is that it's always worth 1 US dollar. This stability is a big deal because it combines the benefits of digital currency – like fast transactions and privacy – with the predictable value of traditional money. This makes stablecoins a popular choice for people looking to use cryptocurrency for everyday transactions, trading, or moving money across borders without the wild price swings associated with typical cryptocurrencies. Stablecoin as Payout If you are a non-US creator, most likely you are paying over 10% of your payout to currency exchange fees using a US platform like Patreon and Paypal. Receiving stablecoin as payout can solve this issue, total fee is under 1.5%. ● Blockchain enables 24/7 trading without geographical limits. ● Lower transaction fees than banks due to decentralized nature. ● Stablecoins offer financial services to unbanked populations. ● Facilitates global market access without needing a bank account. Trading with stablecoins for fiat currencies on crypto exchanges offers significant advantages over traditional bank exchanges. The speed and accessibility of transactions are greatly enhanced by blockchain technology, allowing for 24/7 trading without geographical restrictions. This is particularly beneficial for responding to market changes in real-time and for those without access to traditional banking. Additionally, the transaction fees involved in stablecoin exchanges are typically lower than those charged by banks, due to the decentralized nature of blockchain, which reduces the need for intermediaries and associated costs. The use of blockchain also ensures a higher degree of transparency and security. Every transaction is recorded on a public ledger, minimizing the risk of fraud and providing a clear transaction history. This security aspect is bolstered by robust protocols against hacking, offering peace of mind compared to traditional banking systems' vulnerabilities. Furthermore, stablecoins facilitate financial inclusion by providing access to financial services for unbanked or underbanked populations. This opens up opportunities for international trade and access to global markets without requiring a conventional bank account. Overall, stablecoins and crypto exchanges present a more efficient, secure, and inclusive alternative for currency exchange, aligning with the needs of today's digital and global economy. What is USDT (Tether)? Tether was introduced back in 2014, making it one of the first stablecoin in history. It's a bit like a promise where for every USDT out there, there's a real dollar or something of equal value held by the company that made USDT, to back it up. However, in 2021, it was discovered that they weren't completely transparent about what was backing USDT, leading to a fine of $41 million. Despite these issues, USDT remains the most popular stablecoin. It's widely used for trading digital currencies and is accepted in many places where digital currencies are used, thanks to being one of the pioneers in the stablecoin space. Risk in Trading Stablecoin There are a couple of insecurities in trading stablecoin: lack of regulation and market fluctuations. The perk of low currency conversion fees is mainly due to the lack of regulation. Not having banks and payment processors in between transactions mean that you are losing security and convenience; however, what you gain in return is a transaction with lower transaction fee and a real-time fiat exchange rate.