Stablecoins have increasingly nestled themselves at the heart of the world of digital payments. As a result, they offer numerous advantages for merchants, individuals and investors. In this blog, we explore the benefits of paying with stablecoins, with a special focus on EURT (Euro stablecoin) and XAUT (commodity stablecoin).

Part 1: What are Stablecoins and How Do They Work?

Stablecoins are cryptocurrencies that derive their value from an underlying asset, such as fiat money, commodities or other digital currencies. This provides relative price stability compared to other cryptocurrencies, such as Bitcoin or Ethereum, which can have large price fluctuations.

Part 2: EURT as a euro stablecoin

EURT is a euro stablecoin, issued by Tether, which is linked one-to-one with the euro. This means that the value of EURT is equal to that of the euro, ensuring price stability. This allows users to benefit from the speed and low cost of cryptocurrency transactions, while enjoying the reliability of fiat currency.

The benefits of using EURT for payments are broad. First, it offers price stability, making it less risky compared to other cryptocurrencies. Second, its lower transaction costs and faster processing times make for a more efficient payment experience. Third, EURT can be easily traded with other cryptocurrencies, providing a platform for international money transfers, online purchases and access to other digital currencies.

Part 3: XAUT as a Commodity Stablecoin

XAUT, issued by Tether, is a commodity stablecoin linked to the value of gold. This means that each XAUT token is backed by a certain amount of physical gold in storage, thus maintaining a stable value.

There are a number of advantages to using XAUT. First, it serves as a hedge against inflation and economic uncertainty, as gold has traditionally been considered a safe haven in turbulent times. Second, XAUT allows users to gain exposure to gold without the complexity and cost of physical gold ownership. Finally, XAUT provides a digital asset with inherent value, meaning payments can be made without depending on price volatile cryptocurrencies.

Part 4: Using Knaken Settle to pay with EURT and XAUT

Settle is an innovative product developed by Knaken, which allows consumers to use their cryptocurrencies directly at checkout in online shops. With this system, users can seamlessly and easily make payments using various digital currencies, including EURT and XAUT. Settle allows customers to enjoy the benefits of these stablecoins, such as price stability and fast transactions, without first having to convert their crypto assets into fiat currency. This results in a simpler and more streamlined payment experience.

By implementing Settle in their payment options, online shops can appeal to a broader target audience of customers interested in using cryptocurrencies for their purchases. This allows them to reach a significant potential audience, especially within the growing crypto community. Moreover, Settle is designed to keep the payment process both secure and simple, allowing users to complete transactions with confidence. By seamlessly integrating stablecoins EURT and XAUT into the payment process, Settle ensures that customers can enjoy a reliable and efficient payment method that suits their digital lifestyle.

Conclusion

Stablecoins, such as EURT and XAUT, offer an attractive alternative to traditional payment methods, especially when it comes to combining efficient digital transactions with price stability, security and reliability. By embracing the advantages of stablecoins, we can take advantage of the growing possibilities of digital payments without the disadvantage of large price fluctuations.

Whether you want to make payments using a Euro stablecoin, such as EURT, or prefer to opt for a commodity stablecoin such as XAUT, opting for stablecoins will ensure a more reliable and cost-efficient payment experience. Moreover, this contributes to the future growth and acceptance of cryptocurrency in general.

In short, stablecoins have a bright future ahead of them, and by looking ahead, we can enter a world of digital payments that is both stable and efficient. Join this exciting and fast-growing world by familiarising yourself with stablecoins like EURT and XAUT and start exploring the many benefits they offer today.

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