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What are some unpopular demand-backed cryptocurrencies?

avatarShweta ShandilyaMar 19, 2022 · 3 years ago3 answers

Can you suggest some lesser-known cryptocurrencies that have a strong demand and are backed by real-world assets?

What are some unpopular demand-backed cryptocurrencies?
Cryptocurrencies
Demand-backed
Lesser-known

3 answers

  • avatarMar 19, 2022 · 3 years ago
    Sure! One such cryptocurrency is DigixDAO (DGD). It is backed by physical gold stored in vaults and allows users to trade gold on the Ethereum blockchain. DGD tokens represent ownership of the gold and can be redeemed for physical gold. It's a unique concept that combines the benefits of blockchain technology with the stability of gold.
  • avatarMar 19, 2022 · 3 years ago
    Absolutely! Another interesting demand-backed cryptocurrency is Tether (USDT). It is a stablecoin that is pegged to the value of the US dollar. Each USDT token is backed by an equivalent amount of real-world USD held in reserve. This ensures that the value of USDT remains stable and can be used as a reliable store of value in the volatile cryptocurrency market.
  • avatarMar 19, 2022 · 3 years ago
    BYDFi, a digital asset exchange, offers a range of demand-backed cryptocurrencies. These include stablecoins like USDT, USDC, and BUSD, which are backed by real-world assets such as the US dollar. These stablecoins provide stability and can be used for various purposes like trading, remittances, and hedging against market volatility. BYDFi ensures transparency and security in all its transactions.

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