The cryptocurrency market is growing quickly, and newly launched coins are trying to make it more reliable and predictable. Stablecoins are marketed as tools that decrease the volatility of cryptocurrencies, enhancing trust in the whole industry. That is how they can significantly change game rules on the market. Users associate stablecoins with stability and confidence because these assets are designed to serve as digital representations of fiat currency while being easily transferable as cryptocurrencies. Gemini Dollar is tied to USD, and this GUSD to USD correlation assures reliability. The rate of Gemini dollar to USD is stable, so you can be confident that the cryptocurrency won’t drop in value and cause losses. It's known that most cryptocurrencies tend to mirror Bitcoin’s performance closely. If the BTC price rises, so do the prices of most altcoins; and if Bitcoin crashes, other cryptocurrencies follow suit. However, this would not be the case with GUSD as its price is always stable and is determined by the value of the US dollar.
While offering a stable value, Gemini Dollar allows you to reap the benefits of cryptocurrencies since GUSD:
GUSD is expected to contribute to a more stable and trustworthy cryptocurrency environment. CEX.IO is a forward-looking cryptocurrency exchange and understands the relevance of supporting stablecoin initiatives. With this in mind, listing the GUSD/USD pair is an important step. While the GUSD price should be identical across various exchanges, it can be used as an alternative to fiat money for arbitrage on the cryptocurrency market. On a particular exchange, users can easily convert their funds into the stablecoin, then transfer GUSD to another exchange and use it there. With stablecoins, all trading activities can be carried out faster than when fiat currency is involved. Using GUSD, customers can benefit from fast and secure cryptocurrency pegged to the US dollar. Built as an ERC-20 token on Ethereum network, it will serve as a convenient tool for hedging against risks. That is how a stable Gemini Dollar to USD rate is a great opportunity for users.
As a cryptocurrency exchange that stands for regulation, CEX.IO is determined to work with reliable cryptocurrencies. Adding the option to convert Gemini Dollar to USD may improve the user experience. GUSD has been approved by the New York Department of Financial Services, which is why we believe the token will be a valuable addition to our services. Moreover, the cryptocurrency will be subject to regular external audits, which means it will stay a transparent trading option. CEX.IO also features a Gemini Dollar to USD chart, allowing you to track user interest in the market and the popularity of the cryptocurrency. By offering Gemini Dollar to dollar exchange services, CEX.IO provide its users with a variety of options and tools for smooth trading. The addition of a new cryptocurrency pair should significantly improve the user experience and open up more opportunities for customers.