With the launch of futures contract on PCEX Member, C2USD becomes a topic of discussion for all good reasons. To solve all the questions that revolve around C2USD, here is an in-depth C2USD guide where we explain what is C2USD, its transaction volume, where it is going to be used, or more.
C2USD: A Brief Overview
Crypto to USD (C2USD) as the name signifies is a stablecoin that is pegged 1:1 to the US dollar. This fiat-backed stablecoin is simple in its formation and functioning and is backed by popular blockchain-ERC20. Issued by Panaesha Capital Pte. Ltd, C2USD gives users a more understandable, less complex, and straightforward approach to counter the fluctuations of the market, by offering higher stability as compared to Bitcoin and other altcoins.
C2USD notable stats (All stats from 28th January 2021)
- Total C2USD in circulation: 100,000,000 C2USD
- 55.33% of C2USD trades occur through PCEX Futures trading
- 44.67% of C2USD trades occur through spot trading on PCEX Member
What is Stablecoin?
A stablecoin is a new category of cryptocurrencies that are designed to bring price stability in the world’s most volatile cryptocurrency market and are backed by a reserve asset. USDT (Tether) was the first stablecoin in existence and remained as the sole stablecoin in the market until March 2018. After 2018, a lot of stablecoins are introduced by different exchanges to give users multiple options to start trading or investing in the most volatile market in the world. C2USD is one of the stablecoins that are currently listed only on Panaesha Capital Exchange. You can trade futures contracts of all popular cryptocurrencies using this stablecoin on PCEX Member.
Built with the same features as other popular cryptocurrencies, C2USD gained traction as they attempt to offer the best of both worlds- the instant processing and the volatility free stable valuation of fiat currencies.
Though all the transactions of C2USD are decentralized, C2USD is governed by a central authority to make sure that no more coins are issued against a fiat that is kept in the reserve and this enriches this stablecoin with centralized authority, regular audits, lesser risk, and trust factor.
C2USD is Based on One of The Most Popular Blockchain ERC20
When talking about investing in C2USD, it’s important to note that C2USD is based on ERC20, one of the most popular blockchain. This affects liquidity pools, trading volume, wallet storage, and ease of exit from C2USD. You can easily find buyers or sellers of this cryptocurrency while trading on PCEX Member.
Based on ERC 20, C2USD is somehow similar to cryptocurrencies like Bitcoin (BTC), Litecoin (LTC), etc like it has a value and can be sent and received. However, unlike other cryptocurrencies and altcoins, C2USD runs on the ethereum network. This means that CUSD tokens are stored and sent using ethereum network and transactions, and use gas to cover the transaction fee.
C2USD is available for buy and sell on all the coin trading platforms that are listed on Panaesha Capital Exchange as a trading member like PCEX Member in India. On PCEX Member, you can buy this stablecoin using fiat currencies like INR and USD. It too has a C2USD market which you can use to buy all popular cryptocurrencies without worrying about market volatility. Some of the important details that you need to consider about this new coin are:
- Total Supply: The total supply of C2USD in the cryptocurrency market is 100,000,000 C2USD. This simply means that you can trade this amount of C2USD in the crypto sphere.
- Decimals: It simply represents the value up to which a token can be divided. When it comes to C2USD, it offers a decimal value of 18 points to its users, which means that the minimum value that can be used to trade C2USD is 0.000000000000000001.
C2USD aka Crypto to USD is a great option for those who want to put their foot in the crypto universe with a little and more stable option. Being pegged to one of the most known fiat currencies like the US Dollar, it offers more stable and secure options to traders or investors than other altcoins to trade-in.