IS CHO A STABLE COIN?
A stablecoin is one type of cryptocurrency that is designed to maintain a fixed value over time.
Unlike normal cryptocurrencies, stablecoin can be pegged to assets such that some fiat currencies can be traded on exchanges, including the U.S. dollar or the Euro. Some stablecoins can be pegged to other types of assets, including precious metals, such as gold, and even other cryptocurrencies.
- Stablecoins are open to users worldwide with accessibility 24/7
- Stablecoins pursue price stability
- Stablecoins are fast and secure to transmit
- Stablecoins are programmable and digitally native
Is CHO stable?
There is no need to talk a lot about what stablecoins are. But the joke “is CHO stablecoin?” seems to longer be a funny quote but brings a serious discussion. What if it is?
Fast processing and low transaction fees make stablecoins a good choice for sending assets to any part of the world and CHO is a perfect match for that, isn’t it? Having a phone number or wallet address is more than enough to send CHO tokens through Choise.com APP to a friend or family member in a few seconds for no fee.
Right, I forgot to mention that CHO is currently listed on some top exchanges such as Gate.io, Kucoin, Huobi global, Coinbase, etc. Big names on the list bring the ability to an additional number of users and alternative to transactions with a small gass free.
Does it make CHO stable?
Trade or save assets.
Stablecoins have a fixed value on the market which makes them low risk assets. You know what you trade, get and keep.
Let’s have a quick look at CHO price market performance for the last month.
Hard to say what the future of CHO price will look like relying only on 30 days data, but I should note that token price hasn’t dropped under $0.9 for a month period and that is during so-called “hard times” or “crypto winter” . Surviving during this under the weather market is a hard thing to do, surprised by the fact that CHO token has remained to have a fixed value. Some of you may get indignant and name the reason - LISTING - but even after Gate.io listing CHO price has been stable as gold.
Does it sound right?
The value of cryptocurrencies like Bitcoin and Ether fluctuates a lot lately. An asset tied to a more stable currency is giving buyers and sellers confidence that the price of their tokens will not rise or fall unpredictably in the near future or a minute. That makes us come back to the CHO token. Starting from the price $0.4 and taking a look at the price of present days - CHO is a total winner here for me. I know what I hold and it is stable.
You may say ̶d̶o̶ ̶n̶o̶t̶ be so confident, you never know. Well, at least I know the approximate cost for tomorrow and the day after tomorrow. Can you do the same to BTC or ETH?
It does have some sense to call it stable…
I remember back to 2020 and 2021 people buying BTC and ETH with a hope to hold to invest, with a strategy buy-hold-sell-earn, but what has happened in 2022? No words needed because they bring pain. So called low risk was not that low.
I do believe that stablecoins are more suitable for investing, actually stablecons are safe for anything in the short or long term.
Is CHO token a good idea for earning on interesting accounts? I guess yes.
P.S. Highly appreciate your attention to the article and looking forward to continuing the discussion. Leave your comments and share your thoughts down below.