Understanding stablecoins for Wraith Wallet users

Stablecoins are cryptocurrencies designed to keep a stable value, usually pegged to a fiat currency like the US dollar or to assets such as gold. Unlike volatile cryptocurrencies such as Bitcoin, stablecoins aim to hold steady, making them useful for transactions, savings, and acting as a bridge between traditional finance and crypto.

For Wraith Wallet users, stablecoins offer a reliable way to store value, send and receive payments, and access decentralised finance (DeFi) platforms without the price swings of regular crypto assets.

Common stablecoins

Here are some of the most widely used stablecoins available in the crypto ecosystem:

Tether (USDT)

Pegged to: US dollar (1:1)

The most widely adopted stablecoin, known for its liquidity and support across major exchanges and blockchains such as Ethereum, Tron, and BNB Smart Chain.

USD Coin (USDC)

Pegged to: US dollar (1:1)

Issued by Circle and Coinbase, USDC is transparent and widely used in DeFi thanks to its strong cross-chain support.

Dai (DAI)

Pegged to: US dollar (1:1)

A decentralised stablecoin created by MakerDAO. It is backed by crypto collateral and maintained through smart contracts on Ethereum.

All of these stablecoins are supported in Wraith Wallet, enabling users to store, send, and receive them securely across different networks.

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