Every country wants to trade in its own currency at the international level, which increases the demand and circulation of that country and results in the shape valuation of money. In this race, the US dollar has taken a lead. Furthermore, it’s not possible for numerous countries. All the underdeveloped countries are bound to trade in the US dollar. This effect makes the dollar unbeatable and resistant.
Stablecoins have their own significant position in the crypto market as volatile cryptocurrencies. As the US dollar has a very stable place in the physical market as well as in the cryptocurrency market. The digital dollar is also important as the physical dollar. That’s why the stable currency comes into existence. They have the same ratio of 1:1. Despite that, there are also some valuable currencies in the physical market, that are excited to get into the online market.
Evolution of EURO coin
Euro is the biggest competitor of the US dollar in the physical market. Furthermore, it also rushes into the online market with the intro of the EUROC coin by Circle. Now the euro-backed currency is available in the crypto market and it gains a lot of popularity who like to trade in the euro.
EUROC coins are introduced first time in the market by the circle in June 2022 which receives a warm welcome from the market traders and investors. The market cap of the euro coins is 65.8 billion dollars. This huge volume of caping makes it prominent in the market for stablecoins.
Who can buy a euro coin
Every individual, businessman, or investor who has an internet connection can buy these coins without any harshness. You can just make an online account on the circle and get some coins as a reward. Some other cryptocurrency exchange also offer euro coins, of which kucoin is one of them. Kucoin has supported more than 22 languages and encourages more new users to invest in the crypto market. The kucoin has a mechanism to enlist any new crypto coin. In this way, the kucoin is verifying the details of the euro coin to enlist at their dashboard. After that, the users are allowed to trade and invest in that stablecoin. Kucoin takes precautionary and safety measures to protect its users from scams and frauds.
Reason for creatine EURO coin
The reason for creating the euro stablecoin just like USDT and USDC is that the people also trade online in the euro without any currency converting problems. Now people feel confident to buy daily routine items without carrying any fiat currency irrespective of the digital euro.
The stablecoin euro is equal to the physical euro. All the stablecoin currency of crypto euro is backed by the cash linked in the local bank’s accounts. That’s why the digital euro remains stable in the bearing states.
EURO coins reserves are audited
International audited agencies and reports raise a point of audited accounts whether the circle has enough funds that are kept in the banks to facilitate the euro coin in the digital market. In addition to that Grant Thornton LLP audited and check the statement of circle issued each month. The circle’s statement shows the euro coin reserves and Grant Thornton LLP attested to it. This increases the confidence of people in the circle as well stablecoin of the euro.
Investors prefer EURO stablecoin
Stablecoins have their own position in the crypto market. A lot of investor does not want to keep their investments in the conventional banking system. So they like the better opportunity and invest their assets at eh EURO coin or USDT at any exchange without fear of losing its value. They also don’t need to carry the euro in their pocket and have fear of theft or stealing. They just have to swap or scan the card or application to buy and sell the goods at any brand or mart.
In bottom lines
Conclusively, the above discussion suggests you invest in the euro stablecoin is also a safe option like other stablecoins. Euro coin is a zero volatile stablecoin currency that is bought from the cryptocurrency market and appreciates people to deal in it online or offline.