Yes I agree. And they can easily derail stablecoins with stringent regulations. This affected e-Money, the company that issues, EEUR forcing them to unwind. But it also highlights the importance of these stablecoins being truly backed. In e-Money's case, it didn't affect EEUR peg at all thanks to team's ingenuity. A common ground will be found eventually.
I hold USDC and BUSD. I used to have EEUR, the e-Money's Euro backed stablecoin but the team announced that they are unwinding the stablecoin. The stablecoin can be redeemed which is why I prefer fully backed stablecoins as opposed to algo or partially backed stablecoins.
EEUR was gradually gaining ground before the unwind, it's sad that it had to go. It's down to the latest EU Mica regulation which doesn’t favor stablecoin issuers. On the good side, e-money still issues other fully collateralized stablecoins like ENOK, ECHF, EDKK, etc. I guess the attention will shift to them soon.
2023 is not the year we moon... But it could be the year we start accumulating. Been saying it since last year and will keep saying, this is the time for chilling in stablecoins. BUSD, USDC and EEUR reigns supreme for now.
Circle is not audited. They only offer attestation. I have heard of EEUR, but its market volume is very (very) low and it is not even pegged to the euro, resulting in an average loss of 6% upon conversion due to its average value of 0.94€. In addition, their audit document only displays Proof of Funds, and does not include a complete ledger (liabilities, etc)
Nope. There are other Euro stablecoins that are audited. EEUR by E-money is one of them and Euroc by Circle as well. EEUR is audited quarterly by [Ernst & Young](https://medium.com/e-money-com/published-e-moneys-proof-of-funds-report-by-ernst-young-8912e170a66d) to ensure Proof of Funds.
1. Explore more passive income streams, especially the tested and proven ones in order to stay afloat. 2. DCA more often and save more stablecoins (EEUR & BUSD). 3. Do more research on cross-chain technology as it looks like one with great potential.
NGM is largely undervalued and I think it's only a matter of time before it blows up. I’ve seen the recent partnerships with Leap super wallet and Axelar Network to enable secure cross chain asset transfers. It’s also nice to see more platforms adopting the fully collateralized stablecoins, especially EEUR being at the forefront of adoption.
I feel many coins in the Cosmos ecosystem are undervalued. The likes of JUNO, NGM, EVMOS, SCRT, etc. I’m particular about e-money (NGM), the E-Money service is driven by multiple currency-backed tokens, one for each supported fiat currency, which will represent a proportional value of the bank reserve. EEUR, ENOK, ECHF, etc. Additionally, E-Money uses the NGM (New Generation of Money) token for staking and rewards.
The market is gradually recovering but it's been a little bit slow recovery. Regardless, I’m DCAing as much as I can on projects like BNB, NGM, ADA, etc. I am bagging as much NGM as I can and I saving up my bags in stablecoins like BUSD & EEUR. There is so much confidence when you know your stablecoin is fully-collateralized.
Stablecoins and cold wallets are not comparable, one is a coin and the other is a wallet for storing cryptocurrencies. I used to stake BUSD on Binance but since the fud started, I took my BUSD off the exchange and now hold it in my wallet. The only stablecoin farming I'm currently involved in is on Osmosis Dex where I'm farming EEUR. They have a number of liquidity pools with EEUR pairs.
More like the same here, trying to accumulate 1 BTC and altcoins. I’ll most likely go all in at 10k, I don’t see it dropping lower than that. I’m currently keeping stablecoins like EEUR and BUSD, I’m happy to DCA into BNB, NGM, DOT & LINK if prices fall further.
I'm not surprised at all. If I have learnt anything this year, it would be to stear away from algo stablecoins. There is nothing stable about them, only a matter of time before the inevitable happens. My advice to anyone looking into stablecoins is to consider USDC, BUSD, EEUR and EEURC which are 100% collateralized, audited regularly and are redeemable.
I have never heard about this particular stablecoin before and I doubt it's fully collateralized. One thing UST crash taught me is that only collateralized and audited stablecoins such as USDC, BUSD and EEUR are sustainable in the market.
I'd never heard of it before. Who invests in stablecoins like this? What did they promise you in order to entice you to invest in algo stablecoins like this? People just like to learn in the hard way. For us, UST was an eye-opener. I hope it's too late to start investing in fully-reserved and audited stablecoins, such as USDC, BUSD, EUROC, EEUR, etc.
They are all collateralized assets so I trust them. I know there's been FUD around USDT and USDC but there isn’t to that. EEUR is another fully collateralized stablecoin. Issued by e-money, EEUR is interest-bearing and backed by the Euro. It also gives exposure to the EUR.
I trust USDC the most. It's audited and fully reserved. It has an edge over BUSD in terms of availability on multiple chains. Another stablecoin I trust is EEUR, which helps mitigates the risk of single-dollar stablecoin exposure.
For me, stablecoins are trustworthy if they are fully collateralized in real assets and are regularly audited. The only stablecoins I know that check these boxes are USDC, BUSD, EEUR and EURC. I mostly use USDC, BUSD and EEUR depending on the exchange.
Stablecoins are generally trustworthy, especially the fully collateralized ones like USDC, EEUR, BUSD, etc. The ones that come with doubts are the algorithmic ones like UST, USDD, etc. Being fully collateralized means there’s money in the bank for every unit minted.
Some are some are not. Stay away from algorithmic. 100% backed stablecoins are way better. USDC and BUSD seem to be the safest dollar stablecoins for this reason. And outside dollar, EEUR for Euro. There might be others in not aware of.
This wouldn't have been necessary if the stablcoin was fully collateralized in a real asset. My advice is to stay away from algo stablecoins and stick to either USDC, BUSD, EEUR, EURC or any other fully collateralized and audited stablecoin.
After getting burned by UST's 19% APY, I have decided to stop chasing yields in stablecoins. These days I only keep stablecoins to buy crypto with and they must be fully backed and audited stablecoins like USDC, BUSD, EEUR and EURC.
There are many options depending on where you're residing. P2P seems to be a viable option in many countries right now. I'm also using e-Money's payment platform to on-ramp fiat into crypto. The platform enables the purchase of EEUR, one of its euro-based stablecoins with a debit or credit card.
This should have happened a long time ago. I'm surprised it takes this long to depeg. I just hope that people learn from all of these algo stablecoins and switch to audited and fully-reserved stablecoins like EEUR, USDC, and BUSD.
Diversification is key. Haven't had these concerns about USDC and BUSD before. I use them both mostly and EEUR on cosmos. Also, integration and adoption leads to some stablecoins being more used and therefore more trusted.
BUSD and EEUR are looking like the most reliable ones in the pack, take nothing away from USDC & EURC. EEUR is one of the 5 fully collateralized and interest-bearing stablecoins being issued by e-Money. It is only a matter of time before it gains mainstream adoption.
Stablecoins are very important in the crypto ecosystem and there are several options out there. For me, I go for fully-backed and regulatory-complaint stablecoins like BUSD, USDC, and the ones issued by E-money; EEUR, ENOK, EDKK, ESEK & ECHF From the quarterly audit by E&Y to the compliance with European regulations, the stablecoins seem to tick all boxes.
I'm not willing to bet on it. At some point this year, many people thought Terra was too big to fail until it did. Same as FTX and many other multi-billion dollar projects that have crashed this year. My choice for stablecoins remain USDC, BUSD, EEUR and EURC which are fully collateralized and audited regularly.
This is making the choice of stablecoins very difficult. As I understand only USDC, BUSD, EEUR and EURC are the only fully backed and audited stablecoins. Who knows if the recent drama sorrounding Cricle has anything to do with their reserves.
I'm here for both the technology and the rewards. I send funds using crypto payment platforms such as e-money which has EEUR stablecoin in Europe, and I'm enjoying the juicy APYs available in the crypto space while waiting for the bull run.
>Stable coins are typically pegged to the USD I think people miss the point of stablecoins to a large extent. My country just announced a ridiculous cash withdrawal limit, and many businesses will be limited/crippled. I send money out a lot to Europe. Sometimes getting Euro or Dollars can be a real pain in the ass so I use USDC/BUSD or EEUR. Fast, convenient, close to zero fees, and able to use them on-chain make stablecoins really useful.
I'm in it for the profit and also for the use cases. I use EEUR for international transfers and BUSD to fund my crypto card for payments. I also use Osmosis Dex for DeFi. Some of my participating liquidity pools include USDC/OSMO, NGM/OSMO and EVMOS/OSMO.
USDC still remains one of the best stablecoins alongside BUSD, EEUR and EUROC which are fully backed and audited. Any decrease in supply could be attributed to investors redeeming their USDC for fiat which is how it was designed.
I'm not surprised. Stablecoins offer a number of advantages especially in payments or as a store of value. I would recommend the fully backed and audited stablecoins like USDC, BUSD, EEUR, and EURC. Also avoid algorithmic stablecoins.
Stablecoins are like the backbone of the entire crypto ecosystem. They’e the bridge between fiat and other cryptocurrencies and that's why it's almost impossible to ignore them. Also, there is a need for regulatory compliance for stablecoins and that's how e-money set of stablecoins like ESEK, EEUR, EDKK, etc. became popular.
There's a trend among Gamefi projects which is adopting and integrating e-money suites of European stablecoins like EEUR, ENOK, EDKK, etc. The likes of MetaBays, AirNFTs, Gamerse, three kingdoms, Babylons, 11 Minutes, Wizardia, etc are already adopting these fully collateralized stablecoins to ease payments on their platforms.
Apart from being easy to transfer, stablecoins like USDC, EUROC, EEUR, etc are 100% backed by native fiat money and government bonds. So they are more representative of fiat money on the blockchain. And the good thing is they transcend borders and banking hours.
>"Bitcoin (BTC); Ethereum (ETH); Cardano (ADA); Solana (SOL); Binance Coin (BNB)." Nice one! Hopefully, they'll add stablecoins soon. Will be very important to have EEUR or any other solid Euro stablecoin especially.
To survive the Crypto winter, don't invest more than you can afford to lose, consider buying the dip of your long-term projects and staking them, hold stablecoins that can be staked or farmed, pay interest, and serve as a store of value, such as EEUR. Finally, get a cold wallet to keep your tokens in.
You can keep stablecoins in noncustodial wallets like every other crypto. I use Trust Wallet to store USDC and BUSD while I have EEUR on Keplr ready to be deployed in the market. USDC, BUSD and EEUR are my favourite stablecoins because they're fullt- collateralized and audited.
Stablecoins exist for a reason, you take profits, sit in them then when the bear comes you start buying. Was always converting chunks of profit to either BUSD, USDC or EEUR depending on which chain or exchange I was trading on at that moment. Thanks to that, I have dry powder for DCA now.
Stablecoins appear to be the backbone of the entire crypto ecosystem and that’s everyone is threading carefully while picking which one to use. Also, there is a need for regulatory compliance for stablecoins and that's how the e-money’s set of fully collateralized stablecoins like ENOK, ECHF, ESEK, EEUR, and EDKK have been garnering traction lately.
The FTX crash has been an eye opener to this and many other things. I think EEUR is the only stablecoin that's redeemable on every blockchain it supports. It's still in its early stages compared to more established stablecoins like BUSD, USDC and USDT.
For EEUR minted, there’s one EUR kept in the bank. Unlike most existing stablecoins, which aim to maintain a static 1:1 peg with their underlying assets, the value of e-Money’s currency-backed tokens continually shifts in line with the interest accrued on the reserve assets.
This year, I believe I am one of the lucky investors. I don't have any of these crypto projects, nor do I use any of the crypto platforms that crash. Even though UST is the most popular stablecoin in the Cosmos community with a high APY, I chose EEUR, which proved to be a wise decision.
>To really maximize the potential of Crypto-Currency you have to learn, understand and grasp the fundamentals. Learning never stops. And I've noticed that the more I learn, the more money I make in the crypto space. Learning about technology has also shown me how to send money across borders using stablecoins such as USDC and EEUR rather than the more expensive traditional method.
I use Osmosis too because of low fees and high yields. It's the only Dex I know with $0 transaction fees. Liquidity mining rewards are very good on the DEX especially pools with superfluid staking enabled such as EVMOS/OSMO, USDC/OSMO, NGM/OSMO, WBTC/OSMO, EEUR/OSMO, and so on.
It seems everyone is accumulating as much as possible given that prices are ridiculously cheap. I’m also keeping fully collateralized stablecoins like EEUR, USDT, etc. in order to keep DCA-ing in case the prices tank further.
I will keep 30% in EEUR stablecoin DCA in case the market drops further. 20% will go into ETH, 15% will go into ATOM, 10% will go into OCEAN, which I will also use to participate in data farming, 10% will go into NGM, 10% will go into MATIC and 5% for degen into low cap gems.
You're completely right. Despite the fact that I've been in stablecoins for the large part of 2022, I'm still up over 50% when I convert to my local currency. It's actually a financial advice to buy stablecoins over here. But not the likes of UST and USDD actually. Rather BUSD, USDC, EEUR since they're all backed 100% by fiat and don't have any issues.
No problem, ofc do your DD. Not all cryptos are available there, but BTC ETH DOT for example are, and there is Axelar bridge to move it all around, and connect with AVAX Poligon etc. try take a look. Bridge always scare me tho. There are USDC EEUR and I think also USDT DAI as stable coins to trade.
Diversify. No one knows the future. Spread across ETH and BNB maybe. Also, you can consider withdrawing through ETH L2 chains like Polygon, Optimism or Arbitrum. Another option is spreading a few to cosmos. I spread my stables out in that manner, some BUSD on bnbchain, some USDC on eth,op,arb, some EEUR and USDC on cosmos.
This is just another avenue for the government to mint more money but this time on the blockchain. There are already existing stablecoins such as Circles Euro Coin and e-Money's EEUR stablecoin which are backed by EUR. I'd rather keep these than a CBDC.