8 Stablecoins filter
USD Coin
★★★★★
4.8
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Base Currency
USD
-
Collateral Type
Fiat-Backed
-
Blockchains
Ethereum
-
Audit Frequency
Monthly
- Best For
- Pros & Cons
- Stablecoin Details
USD Coin (USDC) is a stablecoin pegged to the US Dollar. Issued by Circle, USDC is backed 1:1 to the US Dollar with customer funds held in segregated FDIC insured bank accounts. USDC is the second largest stablecoin by market cap and is exclusively issued as an ERC-20 on the Ethereum blockchain.
Pros
- Coinbase Featured Stablecoin - Coinbase has selected USDC as it’s featured stablecoin guaranteeing an exchange rate of 1:1 (USDC:USD). USDC can easily be withdrawn for USD to user bank accounts.
- Liquidity - USDC is the second most most liquid stablecoin behind USDT and is traded on a majority of the biggest cryptocurrency exchanges.
- Monthly Audits - Audits are performed regularly by accounting firm Grant Thornton to ensure that USDC is backed 1:1 by US Dollars in segregated bank accounts. Circle, Ltd. frequently publishes these reports.
Cons
- Centralized - USDC is minted, maintained, and operated by Circle, Ltd. Centralized stablecoins can be frozen or confiscated in cases where a user is deemed to have broken regulatory laws or acted in an illegal capacity with the asset.
- Purchase & Redemption KYC - In order to redeem USDC for fiat, users must undergo KYC and provide identity documentation to Circle, Ltd. This is very standard procedure, and only a negative for privacy focused users.
Current Price
$1.00
Volume (24h)
$1,152,688,834
Market Cap
$2,770,906,733
Circulating Supply
2,769,760,800
Exchanges
Binance, Coinbase Pro, HitBTC
Company
Circle Internet Financial Limited
Paxos Standard
★★★★★
4.5
-
Base Currency
USD
-
Collateral Type
Fiat-Backed
-
Blockchains
Ethereum
-
Audit Frequency
Monthly
- Best For
- Pros & Cons
- Stablecoin Details
Paxos Standard (PAX) is a stablecoin pegged to the US Dollar. Issued by the Paxos Trust Company, PAX is fully backed 1:1 to the USD. All client funds are audited, regulated, and held in segregated FDIC insured bank accounts.
Pros
- Regulated & Compliant - Paxos Trust Company, LLC is regulated by the NYDFS (New York State Department Of Financial Services).
- Liquidity - Audits are performed monthly by the Withum accounting firm to ensure that PAX is fully collateralized at 1:1 by US dollars. These reports are then published on the Paxos Trust Company website for public viewing.
- Monthly Audits - Audits are performed regularly by accounting firm Grant Thornton to ensure that USDC is backed 1:1 by US Dollars in segregated bank accounts. Circle, Ltd. frequently publishes these reports.
Cons
- Centralized - PAX can be frozen, confiscated, or censored by authorities in the event that they believe any illegal activity has occurred or terms and conditions have been broken.
- Privacy - Trading PAX in large amounts on cryptocurrency exchanges will require KYC. In addition to this, any user looking to purchase or redeem PAX with fiat will be required to undergo KYC and submit personal identification documents.
Current Price
$1.00
Volume (24h)
$108,815,513
Market Cap
$245,087,767
Circulating Supply
244,951,954
Exchanges
Binance, OKEx, Bitmax
Company
Paxos Technology Solutions, LLC
TrueUSD
★★★★★
4.3
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Base Currency
USD
-
Collateral Type
Fiat-Backed
-
Blockchains
Ethereum
-
Audit Frequency
Monthly
- Best For
- Pros & Cons
- Stablecoin Details
TrueUSD (TUSD) is a stablecoin pegged to the US Dollar. Issued and maintained by TrustToken, TUSD is recognized as the first stablecoin launched with a core focus on transparency. Users can purchase and redeem TUSD at a 1:1 rate on the TrustToken platform for US Dollars.
Pros
- Regulated & Compliant - Paxos Trust Company, LLC is regulated by the NYDFS (New York State Department Of Financial Services).
- Liquidity - TrueUSD trades with reasonable volume on several top exchanges, including Binance and Bittrex.
- Audited Regularly - Audits are performed monthly by the accounting firm Cohen & Company, ensuring customers that TrueUSD tokens are in fact backed 1:1 by USD.
- Multiple Currencies - TrustToken has issued TrueGBP, TrueAUD, & TrueCAD with more currencies planned in the future.
Cons
- Centralized - TrueUSD can be frozen or even confiscated in the event that TrustToken has reason to believe users have broken the terms and conditions of use, more specifically - the laws and regulations the company abides by.
- Privacy - Required for purchase and redemption. While we are hesitant to list this as a negative aspect, there are individuals in the blockchain space that believe privacy is mandatory.
Current Price
$1.00
Volume (24h)
$133,380,355
Market Cap
$286,889,595
Circulating Supply
287,433,840
Exchanges
Binance, HitBTC, Bittrex Global
Company
TrustToken, Inc.
DAI
★★★★★
4
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Base Currency
USD
-
Collateral Type
Crypto-Backed
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Blockchains
Ethereum
-
Audit Frequency
Public Smart Contract
- Best For
- Pros & Cons
- Stablecoin Details
DAI is a digital asset-backed, ERC-20 stablecoin pegged to the US Dollar. Issued by a smart contract platform on the Ethereum blockchain, DAI is governed and maintained by the MakerDAO Foundation.
Pros
- Censorship Resistant - DAI is governed by smart contracts and therefore is the only stablecoin that cannot be seized or censored by governments or regulatory agencies.
- Transparency & Auditability - DAI is collateralized by Ethereum which is immutably verifiable on the Ethereum blockchain.
- Privacy - Transacting with DAI does not require any account creation or KYC processes. It is by far the most private stablecoin available.
Cons
- Liquidity - DAI is only listed on a few major exchanges and does not have nearly as many trading pairs compared to centralized stablecoins such as USDT and USDC.
- Dependent On Ethereum Collateral - DAI is collateralized by Ethereum which is a far more volatile asset than the US Dollar. Ethereum is orders of magnitude more likely to flash crash than fiat, introducing a much greater risk for DAI holders vs centralized stablecoins that are collateralized by fiat.
- Peg Stability - DAI is exposed to greater USD price fluctuations compared to centralized stablecoins due to being collateralized by a volatile asset in Ethereum.
Current Price
$1.00
Volume (24h)
$192,986,274
Market Cap
$1,397,536,433
Circulating Supply
1,398,123,617
Exchanges
Coinbase Pro, HitBTC, Kraken
Company
MakerDAO Foundation
Paxos Gold
★★★★★
4
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Base Currency
GOLD
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Collateral Type
Commodity-Backed
-
Blockchains
Ethereum
-
Audit Frequency
Monthly
- Best For
- Pros & Cons
- Stablecoin Details
PAX Gold (PAXG) is a stablecoin that provides holders with tokenized ownership of gold bullion stored in secure Brink’s vaults. PAXG tokens are backed by the equivalent fine troy ounces (t oz) of London Good Delivery gold bars, and may be redeemed as physical gold or as USD at the prevailing gold market price. This stablecoin is issued by the Paxos Trust Company, a regulated financial institution and qualified custodian.
Pros
- Accessibility - PAXG provides access to fractional gold ownership with a low minimum of 0.01 PAXG, equivalent to about $15.
- Liquidity - PAXG is currently listed on several reputable exchanges, including Kraken.
- Regular Audits - PAXG is subject to regular financial audits from a third-party accounting firm in order to confirm that the tokens maintain a 1:1 parity with London Good Delivery gold. PAXG’s smart contract has been audited by three third-party blockchain security firms: Nomic Labs, Trail of Bits, and ChainSecurity.
Cons
- Asset Protection Role - PAXG issuers must comply with court orders or other legal processes, and are required to freeze or seize assets involved in illegal activity. The Asset Protection Role also compels the issuer to freeze, unfreeze, or eliminate a specified user’s PAXG balance when ordered by the appropriate authorities.
- KYC Requirements - Only verified users are able to buy, convert, or redeem PAXG tokens for USD or physical gold at approved locations. In the event that the issuer's Paxos Contractual Documentation is breached, they reserve the right to not issue, convert, or redeem a user’s PAXG tokens.
Current Price
$1,882.12
Volume (24h)
$7,831,410
Market Cap
$66,696,774
Circulating Supply
35,437
Exchanges
Kraken
Company
Paxos Technology Solutions, LLC
Gemini Dollar
★★★★★
3.5
-
Base Currency
USD
-
Collateral Type
Fiat-Backed
-
Blockchains
Ethereum
-
Audit Frequency
Monthly
- Best For
- Pros & Cons
- Stablecoin Details
Gemini Dollar (GUSD) is a stablecoin pegged to the US Dollar. Issued and maintained by Gemini Trust LLC, GUSD is audited monthly to ensure a 1:1 collateralization to the US Dollar with customer funds held in FDIC insured bank accounts. GUSD is the smallest centralized stablecoin by market cap and is exclusively issued as an ERC-20 on the Ethereum blockchain.
Pros
- Monthly Audits - Gemini Trust’s US Dollar account balances are audited monthly by BPM, LLP to ensure that GUSD is fully collateralized 1:1 to US Dollars.
- Regulated & Compliant - Gemini Trust LLC is fully regulated and licensed to operate GUSD by the NYDFS (New York Department Of Financial Services).
- Strong Institutional Backing - Gemini Trust Company, LLC was founded by billionaire investors Tyler & Cameron Winklevoss and is extremely well funded.
Cons
- Liquidity - GUSD does not have sufficient liquidity across the top cryptocurrency exchanges.
- Centralized - GUSD is a centralized stablecoin issued and maintained by the Gemini Trust Company, LLC. All centralized stablecoins are subject to regulations and can therefore be censored, seized, or confiscated in the event that activity or transactions deemed illegal has occurred.
- Redemption KYC - Privacy focused users should be aware that withdrawing GUSD for USD requires personal identification documents and passing of standard KYC procedures.
Current Price
$1.01
Volume (24h)
$3,039,451
Market Cap
$15,309,376
Circulating Supply
15,221,436
Exchanges
OKEx, Bitfinex, Gemini
Company
Gemini Trust Company, LLC
Tether Gold
★★★★★
3
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Base Currency
GOLD
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Collateral Type
Commodity-Backed
-
Blockchains
Ethereum
-
Audit Frequency
Never
- Best For
- Pros & Cons
- Stablecoin Details
Tether Gold (XAUt) is a tokenized version of gold issued by TG Commodities Limited. One XAUt token is equal to one troy fine ounce (t oz) of a London Good Delivery gold bar. Investors can redeem Tether Gold (XAUt) for physical gold bars or liquidate their tokens into fiat for USD wire transfers.
Pros
- Easily Accessible - Tether Gold (XAUt) may be acquired through Bitfinex (for limited volume) without needing to deal directly with the issuer, providing retail investors with easy access to XAUt.
- Verifiable Ownership - Tether Gold (XAUt) tokens are stamped with unique identifiers containing the serial numbers, weight, and purity of their physical gold equivalent. Using a gold allocation lookup service, holders can use this information to crosscheck the allocation and ownership of their tokens against the physical gold bars.
- Zero Custody and Security Costs - Physical gold is expensive to store and transport securely. Tether Gold (XAUt) provides holders with all of the benefits associated with gold without the attendant custody and security costs.
Cons
- Limited Trading Options - Tether Gold (XAUt) is currently only listed on Bitfinex. As Bitfinex has ceased service to US corporations and individual clients, this makes XAUt unavailable to US customers.
- Regulatory Risk - There’s no information on whether Tether Gold (XAUt) has been examined or approved by any regulator under the laws of any jurisdiction.
- Reserve Transparency - In the past, Tether Gold's (XAUt) issuer has been accused of lacking reserve management transparency. The fact that the issuer explicitly “reserves the right to modify and replace XAUt tokens from time to time in its sole discretion” in its whitepaper is a valid source for concern.
- Excess Fees - Tether claims that there are no custody fees associated with Tether Gold (XAUt) holdings. Despite this, Tether charges a 25 basis point fee of the gold's value, plus a delivery fee when you redeem the token for physical gold bars. The issuer also charges a 25 basis point fee on the value of the XAUt when redeemed for fiat.
Current Price
$1,869.92
Volume (24h)
$106,525
Market Cap
$0
Circulating Supply
0
Exchanges
Bitfinex
Company
iFinex, Inc.
Tether
★★★★★
2.5
-
Base Currency
USD
-
Collateral Type
Fiat-Backed
-
Blockchains
Ethereum
-
Audit Frequency
Infrequent
- Best For
- Pros & Cons
- Stablecoin Details
Tether (USDT) is a stablecoin pegged to the US Dollar. USDT is issued and maintained by Tether Holdings and was the first stablecoin to gain widespread adoption after launching in 2014. USDT tokens are issued on multiple blockchains and are redeemable at a 1:1 rate for US Dollars through the Tether platform.
Pros
- Liquidity - USDT is currently the most liquid stablecoin available on the market, traded on almost every major non-us facing exchange.
- Multiple Currencies - Tether also has EUR (EURT) and CNY (CNHT) stablecoins in circulation.
Cons
- Regulatory Risk - Tether has long been a topic of discussion for governments and financial regulators. Recently, the NY attorney general sued Bitfinex and Tether alleging that they provided services to NY residents after they agreed to cease operations in the country. Users should be aware that is entirely possible that Tether’s legal issues will continue.
- Transparency - Tether has not been transparent with their accounting throughout the years, causing many to doubt whether the stablecoin is actually backed 1:1 with US Dollars.
Current Price
$1.00
Volume (24h)
$65,314,204,657
Market Cap
$24,861,631,488
Circulating Supply
24,834,847,106
Exchanges
Binance, Huobi Global, OKEx
Company
iFinex, Inc.