Introduction

A stablecoin is a type of cryptocurrency that’s designed to have a more stable value than other cryptocurrencies such as Bitcoin. With Sorted, they describe their supported stablecoins as part of its everyday-money offering, alongside Bitcoin.

Stablecoin, in its simplest form

A stablecoin is a digital asset that is designed to maintain a relatively stable value, which is usually linked to an asset such as a flat currency. For example, USDt, or USDT is designed to represent roughly the value of one US dollar.

This is why Sorted refers to USDt as “digital dollars”. The whole idea is for people to use a dollar-dominated digital asset for sending, receiving, storing, and where it is supported, cash out money into whatever local currency.

How Sorted uses stablecoins

Sorted is a non-custodial crypto wallet that supports Bitcoin and stablecoins. Users are able to receive supported stablecoins from other wallets or exchanges, send them to other wallets or exchanges, and to also use certain services with the Sorted platform.

Sorted currently supports USDT on Ethereum, BNB Chain, Celo, Polygon, Tron and TON. The network is very important because the sender and the recipient need to use the appropriate supported network.

One important point to note:

The word “stable” doesn’t mean risk-free or guaranteed to remain exactly US$1. Sorted’s terms warn that virtual assets and cryptocurrencies involve risks and that users can still lose value.

This article is sponsored by Sorted Wallet. 

Learn more about sorted: https://www.sorted.io/

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