Learn when to enter and exit a trade in our comprehensive crypto trading guide.

 depends heavily upon correctly identifying entry and exit points, as these decisions can make or break a trader's success in the volatile cryptocurrency markets. Effective entry points support optimal positioning to maximize profits, while strategic exits help minimize losses and capitalize on gains. This comprehensive guide covers the key factors to consider before entering or exiting a trade, including 

 and how to use platforms like Bybit for seamless trade entry and exit.

Factors to Consider Before Entering a Trade

Before diving into a cryptocurrency trade, examine all the angles to keep your decisions in sync with your investment goals.

 helps in making calculated decisions and managing risks effectively when entering trades.

For Spot trading with Bybit, use the following steps to enter long or short positions.

Factors to Consider Before Exiting a Trade

Exiting a crypto trade requires careful consideration of various factors in order to make a wise decision. Here's a breakdown of what to think about.

Knowing when to exit a crypto trade is essential for maximizing profits and minimizing losses. Here's what to watch for.

Exiting a trade on Bybit is a straightforward process.

Risks of Misidentifying Potential Entry and Exit Points

Misidentifying potential entry and exit points in crypto trading can lead to several risks that may affect overall trading performance.

Like a surfer trying to catch a wave at just the right moment, timing is everything when it comes to optimal crypto trading. By carefully analyzing both technical indicators and underlying fundamentals, and by effectively managing risks, traders can position themselves for success. Failing to pinpoint these crucial points can spell trouble 

 missed chances, larger losses and the dreaded emotional roller coaster of trading. The key lies in discipline and continuous learning. 

Intermediate

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A Crypto Guide to Planning When to Enter and Exit a Trade

Tether Gold is a stablecoin backed by gold. One XAUt Tether Gold token is equal to one fine troy ounce of gold. Learn more here.

As one of the leading stablecoin companies in the world, Tether has a longstanding reputation for producing reliable cryptocurrencies. In addition to the popular USDT coin, Tether also offers Tether Gold. This intriguing form of stablecoin relies on gold to maintain its price. Why is this important, and what does it mean for investors? Explore this Tether Gold guide to find out more about cryptocurrency tokens. 

 is a stablecoin backed by gold. One XAUt Tether Gold token is equal to one fine troy ounce of gold. The gold backing for this crypto helps to create a more stable price that's not driven as much by market demand, and it also provides a convenient way to speculate in gold.

The primary goal of Tether Gold is to digitize the value of gold. During the company's research for the initial Tether stablecoin, it noticed that gold has long been one of the most trusted forms of currency. However, in the modern world, more and more fiat currencies are becoming unstable because they’re no longer backed by gold. 

Tether Gold aims to go back to the gold standard and create a neutral monetary asset. By backing its currency with gold, Tether Gold hopes to create a reliable, stable currency that has a value based on one of the most in-demand substances on earth. The company believes that a gold-backed stablecoin can combine the advantages of gold and crypto to create a product that’s trusted, stable and useful.

Tether Gold's structure is straightforward and easy to understand. On the technological side, Tether Gold is an 

 token. As an Ethereum token, it uses one of the most secure and flexible 

 spaces. Users can buy, trade and more with these tokens in a variety of 

Each XAUt token represents ownership of a piece of actual gold. Tether stores physical London Good Delivery physical gold bars in a vault in Switzerland. Every token stands for one single fine troy ounce worth of this gold, and the Ethereum address for each XAUt token is linked to a specific gold bar. 

 in a way that minimizes data storage. For example, if a user buys 400 ounces of gold from 50 different sellers, the system will recognize that multiple tokens are being linked to a single wallet. It will then automatically reallocate the tokens' Ethereum addresses to connect to a single, complete bar of gold. 

Tether Gold's simple design results in a lot of perks for buyers. People who hold this coin can access all sorts of helpful features.

If you want to buy or sell something, you can send Tether Gold tokens back and forth between wallets with ease. Unlike physical gold bars, you don't need to transport them to and from locations in order to use them. The crypto is entirely free of gas fees and takes advantage of Ethereum's rigorous security, so you don't need to pay extra to securely transfer gold bars.

Unlike fiat paper currency, it's easy to fractionalize Tether Gold. If an XAUt token is too valuable for your purchase, you can instantly divide it into smaller parts. This makes it a flexible choice, whether you're making big purchases or just need to transfer a small sum of money. 

A big problem for modern gold investors is that they don't always have access to 24/7 markets. Investors often lose out on major chances for profit because the only places to buy and sell gold in their regions are open solely during daytime hours. Tether Gold solves this issue because it’s instantly tradable at any time of day or night. 

Tether Gold is also a fully redeemable cryptocurrency. To further emphasize that owning Tether is just like owning gold, XAUt holders can choose to redeem their crypto. They can turn it in and withdraw the same amount of gold if they decide they're no longer interested in holding onto their crypto tokens. 

One of the major downsides of owning gold is that usually you have to store it. It's heavy and bulky enough that it won't always fit in standard storage areas, and it's valuable enough that rigorous security is necessary. Tether Gold simplifies the process by managing gold storage for its users. Owning the crypto token is no more difficult than with any other basic cryptocurrency, so storage is quick and easy.

Unlike some other gold-backed stablecoins, Tether Gold makes it easy to see how real physical gold is connected to their crypto. All assets are held in a fully compliant bank and ensured with regular audits. On the 

, users can enter the Ethereum address of their token and see which specific gold bar it's associated with. 

After launching its full token and collateral system in 2020, Tether is mostly satisfied with the current position of the XAUt token. There aren’t any publicly announced plans to change how the token currently operates. However, Tether Gold still has some exciting plans for the future, and aims to incorporate Tether Gold into many of its other projects. The company is currently in the process of designing a token mining system, whereby synthetic tokens will be collateralized by XAUt tokens. This will allow people to hold onto their Tether Gold while still using it as collateral for transactions. 

XAUt has a straightforward token design, with a total of 

, all of which have been distributed to the public and are in circulation. Though this is a scarce amount of tokens, its design does allow tokens to be divided into smaller fractions. XAUt can be fractionalized up to six decimal places, allowing users to purchase as little as 0.000001 (one millionth) XAUt on other trading platforms.

If you wish to buy XAUt directly through Tether Gold, it's necessary to go through a full identity verification process. Keep in mind that Tether Gold also has a minimum purchase amount of at least 50 XAUt at a time. However, XAUt's position as a digital token means that owners can then sell it on secondary markets, or use it as currency. For example, if you want a more convenient way to buy XAUt, you can purchase it as a 

. This lets users purchase digital assets simply by signing up, connecting their wallet and following a few simple prompts online. 

The redemption process for XAUt must be conducted through the official Tether website. Once users create and verify an account with TG Commodities Limited, they can exchange their crypto for its current value in gold. In order to redeem your gold, you must have enough XAUt tokens to stand for a full bar of gold (varying in size up to 430 fine troy ounces). After depositing your XAUt tokens with Tether Gold, they then liquidate your gold reserves on the Swiss gold market and send you the proceeds in U.S. dollars.

XAUt is a promising investment for any investor interested in diversifying their portfolio with investment in gold. It allows you to speculate on the price of gold without having to bother with storing and securing physical gold yourself. As with any other stablecoin, crypto market demand won’t affect the price of your XAUt. However, there’s still potential for profit as gold prices rise and fall. With industry experts predicting gold prices will reach 

, gold-backed stablecoins like XAUt are worth exploring. 

However, even if gold has a reputation for reliability, don't forget that some volatility is normal. To make the most of your investment, it's essential to research market conditions carefully before buying gold. It's also necessary to consider that Tether has a poor reputation for handling collateral. Its stablecoin business has been fined before for 

 that it told its investors it held, so some are wary of investing further with the company. 

Tether Gold is an exciting way for everyday investors to experiment with gold ownership. Its gold-backed digital asset makes it easy to speculate on the price of gold without needing to hold physical gold yourself. Furthermore, it can be a highly useful way of making online digital payments. Ultimately, gold-backed crypto assets such as Tether Gold play an intriguing and useful role in the modern DeFi space.

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Tether Gold (XAUt): Secure Digital Gold Ownership

Bybit Convert is an easy-to-use feature on Bybit that enables users to convert their crypto assets without incurring fees or slippage. Learn how it works!

Crypto traders often need to convert assets to take advantage of market opportunities, diversify portfolios or manage risk exposures. A quick, easy and cost-effective way to convert crypto assets is crucial to staying agile and responsive to the ever-changing market conditions.

Cryptocurrency trading platforms have significantly simplified the process of exchanging one digital asset for another. Bybit Convert is one such feature, offered by the popular cryptocurrency exchange. It allows users to convert their assets between different cryptocurrencies seamlessly and without fees. 

This article will discuss its unique features, answer some frequently asked questions and provide an in-depth guide to using Bybit Convert to swap your crypto assets.

 is an exciting new feature that allows users to seamlessly convert different cryptocurrency assets.

-free conversions for users looking to diversify their portfolios or trade various digital assets without having to go through the tedious process of placing multiple orders.

Using Bybit Convert, you can easily swap between different coins without leaving the platform or using a third-party service. 

 virtually all major cryptocurrencies, including BTC, ETH, EOS, XRP, USDT and more. The service is fast, convenient and secure — and as an added perk, it’s totally free.

 are two different mechanisms for exchanging or converting cryptocurrencies on the Bybit platform. 

Here are the main differences between the two.

Bybit Convert allows users to instantly exchange or convert one cryptocurrency to another by leveraging the exchange's order books. Bybit matches the user's request with an appropriate order, enabling a quick and seamless conversion without slippage.

Meanwhile, P2P trading entails users directly exchanging fiat currenc

 for cryptocurrency by placing buy or sell orders and finding willing counterparties within the platform. The exchange essentially serves as a marketplace for buyers and sellers to meet and trade without the intervention of a centralized order book.

When you exchange assets with Bybit Convert, the exchange rates for conversions are based on the best quote prices from several market makers, according to the current index price for the assets involved. Bybit Convert provides competitive rates, ensuring that users get the best possible price for their transactions.

On the other hand, prices in P2P trading are set by individual users. They can offer their preferred prices for buying or selling cryptocurrencies, and other users can choose to accept, negotiate or reject those rates.

As the conversion process on Bybit Convert is automated, and leverages the exchange's order book, transactions are usually completed instantly.

For P2P transactions, the transaction speed depends on how quickly you can find a counterparty willing to trade at your desired price, the negotiation process and the time taken to verify the transaction on the blockchain.

Converting cryptocurrencies with Bybit Convert is user-friendly and relatively straightforward You only need to specify the cryptocurrency you want to convert and the desired amount, and the exchange completes the transaction without any further input.

P2P trading can be somewhat more complicated, as it requires you to find suitable counterparties, negotiate prices and manage transactions manually.

Before you use Bybit Convert, please note that the service is currently available only through Bybit’s Spot, 

 Therefore, you must move your funds to any of these accounts before you start the conversion process.

Transaction limits for conversion vary, depending on the crypto. Once you choose a coin to convert, the minimum and maximum limits will be displayed below the field for the destination asset. However, you can find a complete list of all supported assets for conversion and their transaction limits 

Here are the easy-to-follow steps to use Bybit Convert.

To use Bybit Convert on desktop, visit the 

: The interface will redirect you to the 

To use Bybit Convert on the app, log in and follow these steps.

 button located at the bottom right-hand corner of the page. Then click on 

If you’re performing your conversion from the 

 trading page, please note that you must click on 

 to view the exchange rate before converting. If the real-time exchange rate and quoted rate differ by more than 0.5%, your order will automatically be canceled, and you’ll have to retry.

Yes, Bybit Convert is a free service that doesn’t charge any fees for asset conversions. 

Bybit Convert is available to all Bybit users, including those who wish to exploit market opportunities, diversify portfolios or convert small amounts of 

 (tiny amounts of crypto left in a user's wallet after trading) into more liquid assets. 

The service aims to provide a hassle-free and cost-effective solution for users looking to efficiently manage their crypto holdings.

Slippage doesn’t impact the final conversion rate, even in periods of high market volatility. Bybit Convert uses the exchange's order books to find the best conversion rate, and the conversion executes the instant you initiate it, eliminating time lag that could change prices.

Can I Convert My Crypto Dust Using Bybit Convert?

Yes, Bybit Convert allows users to convert their 

This feature is particularly beneficial for those who have insignificant amounts of multiple cryptocurrencies, and wish to consolidate them into a single, more tradeable asset.

Beginner

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How to Convert Crypto Assets Using Bybit Convert (No Fees)

Keen on learning about the differences between USDT and FRAX? These are the best stablecoins that you can buy to avoid volatility or try your hand at staking.

Looking for a list of top stablecoins? You're in the right place. From being backed by actual dollars in a bank account to relying on a decentralized protocol, stablecoins exist in various forms. This comprehensive guide to the best stablecoins will explain what stablecoins are, the different types to watch for, and some examples of the top stablecoins in the crypto market. 

Stablecoins are cryptocurrencies that have their price pegged to, and are backed by, a singular reserve or group of assets. These price stabilization reserves can range from fiat currencies and national currencies to algorithms or commodities. 

If you're new to crypto, you might be wondering about the use cases of stablecoins. Their most common form of utility is as a medium of exchange. 

Altcoins or even Bitcoin can appear extremely volatile. Their values can wildly fluctuate because of huge inflows and outflows of funds. This can be cumbersome if you're looking to use your crypto as a medium of exchange. Thankfully, with stablecoins, the value of your assets can be preserved as they're meant to maintain their dollar-pegged value. This makes it easy for investors and traders to on-ramp their fiat and convert it into crypto, as the exchange can be made with minimal price volatility.

On top of being a solid medium of exchange, crypto enthusiasts also use stablecoins to participate in 

 (DeFi) projects that involve the lending or staking of stablecoins. Doing this provides investors with passive, low-risk yield as they provide extra liquidity on the platform. This ultimately makes staking or lending stablecoins a viable option for investors during periods of high volatility and/or bearish sentiments.

Now that we've covered the basics of what stablecoins are and their various use cases, let's move on to the different types of stablecoins in the crypto space.

What Are the Different Types of Stablecoins?

Fiat-backed stablecoins are, as the name suggests, pegged to a 

. Fiat currency is essentially not backed by a commodity and is issued by a government. These types of stablecoins typically have a reserve of an equal amount of fiat currency to which they’re pegged. For instance, USD Coin is a top stablecoin that’s largely backed by the U.S. dollar. Fiat-backed stablecoins can be used for transactions, just like other cryptocurrencies, and are considered more reliable.

In essence, these stablecoins are backed by a group of cryptocurrencies. By relying on another cryptocurrency as collateral, the average investor may understandably fear that the crypto-backed stablecoin will be highly volatile. To relieve these worries, such crypto-backed stablecoins are generally overcollateralized to make sure they maintain their value throughout periods of massive price fluctuations.

Unfortunately, UST's implosion has smeared the reputation of the best algorithmic stablecoins, despite solid examples like FRAX and DAI maintaining solid track records. Also called non-collateralized stablecoins, 

 do not have standard fiat or commodity collateral. These decentralized coins are made to help boost stability in market prices without connecting a central authority. Algorithms include special stabilization measures, which are hardcoded on Ethereum smart contracts for the stablecoins. To combat periods of volatility, the supply of algorithmic stablecoins is highly responsive to market forces.

On a more technical level, an oracle contract is used to assist these algorithmic smart contracts in execution. These contracts help by retrieving pricing information for algorithmic stablecoins on other exchanges. Following this, the price periodically enters a rebasing contract to determine if supply should increase or decrease. The contract then analyzes the number of tokens to mint or burn from user wallets based on the information gathered. 

Some stablecoin teams have gone one step further to make their algorithmic stablecoins partially collateralized. For example, FRAX is partially collateralized by fiat-backed stablecoin USDC and FXS, the Frax protocol's governance token.

Like fiat-backed stablecoins, these stablecoins are backed by external assets that aren’t cryptocurrencies. In this case, commodity-backed stablecoins are pegged to precious metals like gold. While commodities also fluctuate in price, they tend to hold value better in times of economic inflation than other forms of assets.

Commodity-backed stablecoins are useful for investing in assets that aren’t always easy to source in a nearby geographical location. For example, physically buying and storing gold can be expensive and inaccessible in many places. However, by purchasing commodity-backed stablecoins, investors can gain access to a tokenized form of rare metals.

In order to determine the best stablecoins, we must first understand what makes a good one. On a fundamental level, the best stablecoins must provide transparency in their holdings. Also, top stablecoins need to have a high trading volume so they can act as a liquid medium of exchange. These two factors combined provide a base on which to build confidence with investors, who can trust the stability of the stablecoin, knowing that it’s backed by a credible reserve of assets and that it can be easily exchanged with other stablecoins.

From USDC to DAI, here are some of the best stablecoins you can consider including as part of your portfolio. 

If you're a crypto veteran, it's no surprise that 

 (USDT) tops our list of stablecoins. Originally known as Realcoin, the Tether stablecoin was officially released in 2014 and was one of the earliest stablecoins. It’s backed by multiple assets that include traditional currency and cash equivalents, ranging from bonds to commercial paper. 

Tether has faced scrutiny over its reserve transparency, but has since clarified that its reserves are backed 100% by the U.S. dollar, which can be verified via its 

In July 2024, USDT continued its steady growth, marking an 11th consecutive month of market capitalization increases to reach $114 billion, a 1.6% rise from the previous month. Despite a slower growth rate compared to some competitors, USDT maintains its stronghold in the stablecoin market with nearly 70% of market share, reflecting its pervasive use and trust within the crypto trading community. 

Additionally, Tether reported a record $5.2 billion in profits for the first half of 2024, demonstrating its profitability and significant impact on the stablecoin sector amid a challenging regulatory environment in Europe and a broader decline in trading volumes across the market.

USDT remains one of the top stablecoins, with a 24-hour trading volume of $36.5 billion and a market cap of $114.4 billion (as of Aug 2, 2024). If you’re looking to earn a passive income with USDT, you can consider staking USDT with Bybit Savings. Bybit is currently holding an 

 in which you can earn up to 300% interest for both fixed and flexible terms.

, composed of multiple well-known figures in the crypto world. The coin launched in 2018 and became one of the top stablecoins because it offered an alternative to USDT. While Tether's holdings remained a mystery at the time, USDC provided proof of its backing by assets derived from the U.S. dollar. This transparency and stability gained from its fiat backing led to USDC taking the number two spot in terms of the amount of USDC being traded every day.

In July 2024, USDC pairs experienced a significant boost in trading volume, reaching $135 billion on centralized exchanges and fueled by market inflows and the new EU Markets in Crypto-Assets (MiCA) regulatory framework. This surge coincided with a 5.4% increase in USDC's market capitalization, pushing it to $33.6 billion. Circle's early compliance with MiCA (becoming the first stablecoin issuer approved under these regulations) played a crucial role in this growth, highlighting the importance of regulatory readiness in the expanding crypto landscape.

USDC’s 24-hour trading volume is currently $8.8 billion, and its market cap is $33 billion (as of Aug 2, 2024). 

Stablecoin investors looking to earn a safe return can visit 

 to earn up to 500% APR on their staked USDC.

First Digital USD (FDUSD), launched by First Digital Labs in June 2023, is rapidly establishing itself as a top contender among stablecoins. Engineered to offer a seamless blend of stability and innovation, FDUSD is fully backed by the U.S. dollar, ensuring a 1:1 peg with the fiat currency. This financial structure is fortified by assets held in fully segregated, bankruptcy-remote accounts, providing robust security and trust to its users.

FDUSD's journey began under the auspices of First Digital Labs, a Hong Kong–based financial firm recognized for its pioneering efforts in digital asset custody and trust services. The introduction of FDUSD coincided with new crypto regulations in Hong Kong, positioning it as a stablecoin designed to cater to both regulatory compliance and user security. The stablecoin's launch was met with enthusiasm, quickly achieving a market capitalization of $1 billion, a testament to its acceptance and potential within the crypto market.

What sets FDUSD apart is its commitment to maintaining rigorous custodial arrangements and providing transparency through regular independent attestations of its reserves. These measures ensure that each token is indeed backed by a corresponding U.S. dollar, promoting reliability and stability. Moreover, FDUSD's programmable features allow it to support a range of financial applications, from escrow services to complex financial contracts, all without intermediaries.

For all of these reasons, FDUSD stands out as one of the best stablecoins because of its robust regulatory framework, high degree of asset protection and innovative approach to digital finance, making it a prime choice for users seeking stability in the volatile cryptocurrency market​. 

FDUSD’s current 24-hour trading volume stands at $7.3 billion, and its market cap is $2 billion (as of Aug 2, 2024).

) is emerging as one of the leading stablecoins in the cryptocurrency landscape, distinguished by its robust backing and seamless integration into the digital payments ecosystem. Launched by PayPal in collaboration with Paxos Trust Company, PYUSD is fully backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents, ensuring a stable 1:1 peg with the U.S. dollar. This backing is regularly verified through monthly attestations by an independent third-party accounting firm, thus adding an extra layer of transparency and reliability.

One of the key advantages of PayPal USD is its deep integration within PayPal's vast payment network, making it a practical choice for a wide range of transactions that include person-to-person transfers and commercial payments. PYUSD is designed to reduce friction in digital transactions, supporting seamless transfers on platforms like Ethereum and Solana, which enhances its utility in faster and cost-effective global payments. The PYUSD stablecoin is also engineered to support next-generation payment systems, allowing businesses and developers to leverage its stable value in innovative financial applications.

Moreover, PayPal USD’s rollout includes features that cater to both individual users and enterprises, offering functionalities such as easy conversion between PYUSD and other supported cryptocurrencies within the PayPal ecosystem. This broad accessibility — coupled with PayPal’s reputation and operational expertise in digital finance — positions PYUSD as a potent tool in the evolving digital currency space, promising stability, extensive usability and regulatory compliance.​ 

Its current 24-hour trading volume stands at $9.3 million and its market cap is $622.5 million (as of Aug 2, 2024).

 stablecoin in 2017 when the mere idea of a crypto-backed stablecoin seemed risky and unrealistic. While DAI was originally created to provide a non-volatile lending asset for businesses and individuals, Maker eventually gave governance of DAI to MakerDAO. 

One of the critical mechanisms that have ensured DAI’s stability is its overcollateralization strategy, primarily using Ethereum. This method has proven effective, especially during volatile market conditions, in helping DAI maintain its peg to the U.S. dollar. In recent updates, the MakerDAO community has been active, proposing strategic allocations of DAI into other stablecoin projects like USDe and sUSDe, indicating a proactive approach to diversification and yield optimization within the DeFi ecosystem.

DAI's supply has notably increased by 20% over the past three months, reaching a market cap of $5.3 billion (as of Aug 2, 2024). Its 24-hour trading volume stands at $205.3 million. This growth reflects its increasing adoption and the trust users place in its stability mechanisms. Additionally, DAI has been integrated into new blockchain initiatives, suggesting an expanding role beyond traditional DeFi applications. These developments underline DAI's adaptability, as well as the MakerDAO community's commitment to maintaining DAI as a fundamental component of the DeFi landscape.

 is emerging as a standout among stablecoins, leveraging innovative financial strategies to maintain stability and generate yield and positioning it as a leading choice for savvy crypto users. As a synthetic dollar, USDe distinguishes itself by operating entirely within the crypto ecosystem backed not by traditional fiat or commodities, but by a sophisticated arrangement of Ethereum and its derivatives. This structure allows USDe to offer a censorship-resistant, scalable and stable currency option, addressing the common stablecoin 

 — balancing decentralization, scalability and stability without sacrificing one for the others.

The core of USDe's stability mechanism is a 

 strategy that mitigates the volatility typically associated with crypto-backed assets. By creating short positions in derivatives alongside crypto collateral, USDe ensures that any drop in collateral value is counterbalanced, thus maintaining its peg to the dollar. This not only enhances its stability, but also provides a lucrative yield-generating opportunity through the derivatives market. These features make USDe an attractive option for users looking for a stablecoin that combines the benefits of traditional stablecoins with the potential for high returns, making it a compelling addition to the digital finance landscape.

Its current 24-hour trading volume is $98 million, while its market cap is $3 billion (as of Aug 2, 2024).

 network, aims to position itself prominently in the DeFi sector. Despite experiencing some volatility in April 2024, when it briefly 

 from its $1.00 target down to $0.97 amid broader issues in the crypto markets, USDD has demonstrated resilience through strategic enhancements to its stabilization mechanisms.

A significant upgrade to USDD has seen it transform into the first overcollateralized decentralized stablecoin. By securing its value with a robust collateral pool that includes highly liquid assets like BTC, TRX and USDT, USDD has bolstered its market position. The real-time collateral ratio maintained by the Tron DAO Reserve significantly exceeds the 100% mark, aiming to provide a stable and secure backing for the coin. This upgrade has not only enhanced trust in USDD's stability, but also its appeal as a secure digital asset within the volatile cryptocurrency market.

Furthermore, USDD is supported by a comprehensive ecosystem on TRON, one of the largest stablecoin networks. This support includes widespread adoption across multiple major blockchain platforms, as well as integration into numerous popular crypto exchanges and DeFi platforms. Backing by industry leaders and a high level of transparency in its operations contribute to USDD’s growing reputation as a reliable stablecoin, even as it navigates challenges common in the DeFi space​.

USDD’s 24-hour trading volume stands at $1.04 million, and its market cap is at $740.6 million (as of Aug 2, 2024).

FRAX initially made headlines in 2019 as the world’s first fractional algorithmic stablecoin. The coin maintains its peg by making use of two reserves: Fiat-backed USDC, and FXS, the Frax ecosystem's native token. The ratio of USDC to FXS depends on the collateral ratio, which varies the amount of USDC and FXS needed to mint $1 worth of FRAX. This makes FRAX a partial algorithmic stablecoin, since it has fiat backing on top of its algorithmic backing.

Over time, Frax has evolved to emphasize security and stability, shifting toward a fully collateralized model. This change was driven by community governance, reflecting a proactive approach to adapting to market needs and regulatory environments. The decision to fully collateralize FRAX underscores its commitment to reliability and trust, especially important in a landscape often shaken by volatility and uncertainty​​.

Recently, Frax Finance has announced ambitious plans to expand its reach and utility. It aims to achieve a total value locked (

 through its road map, signaling aggressive growth and expansion strategies. Additionally, Frax has integrated into new ecosystems, such as the Cosmos network, thereby broadening its interoperability and potential use cases across different blockchain environments​​.

The ongoing developments in Frax, including its full transition to overcollateralization and expansion into new blockchain territories, highlight its position as one of the top stablecoins by fostering a stable and secure option for digital asset transactions. These steps not only enhance the intrinsic value of Frax, but also contribute to its reputation as a robust and adaptable stablecoin in the competitive DeFi landscape.

FRAX’s current 24-hour trading volume stands at $27.5 million, and its market cap is $646.3 million (as of Aug 2, 2024). 

Tether Gold (XAUt), launched in January 2020, stands out as one of the premier gold-backed stablecoins. Each XAUt token is backed 1:1 by a fine troy ounce of physical gold held in secure vaults in Switzerland, providing token holders with the tangible security of gold combined with the liquidity and ease of a cryptocurrency. This gold backing is verified through regular audits, ensuring transparency and trust in the token's value.

What sets Tether Gold apart is its accessibility and ease of use. The token can be divided into increments as small as 0.000001 fine troy ounce, allowing for flexibility in investment sizes. Moreover, XAUTx tokens can be traded 24/7 on various exchanges, making them highly liquid compared to physical gold. For those looking to redeem their tokens, the process is straightforward, though it requires a minimum amount to redeem a full gold bar.

Recent developments have reinforced Tether Gold's position in the market. Tether Gold has expanded its accessibility by being listed on additional crypto exchanges such as BTSE, increasing its availability to a broader audience. This expansion is indicative of its growing popularity and trust as a digital alternative to traditional gold investments​​.

Overall, Tether Gold's blend of physical asset backing, digital flexibility and rigorous compliance measures make it a compelling option for investors seeking stability and security, akin to gold with the benefits of digital assets.

XAUt’s current 24-hour trading volume stands at $14.8 million, and its market cap is $604.6 million (as of Aug 2, 2024).

) was launched in September 2019 by Paxos, a regulated blockchain infrastructure platform. PAXG distinguishes itself by allowing users to own physical gold in a digital form, each token 

 with a troy ounce of a London Good Delivery gold bar stored in secure vaults. This unique approach to combining the stability of gold with the efficiency of blockchain technology makes Pax Gold one of the best stablecoins for investors seeking a safe haven asset in the digital space.

PAXG's adoption has grown significantly, reflecting in its integration into various platforms and the broadening of its usability. Recently, PAXG was integrated on the XPOS system by Pundi X and Scoin, facilitating the purchasing and transition between physical and digital gold in the South African market. This move not only enhances the liquidity and accessibility of PAXG, but also bridges the gap between traditional gold investments and modern digital finance solutions​. Such integration is a testament to PAXG's growing importance, as well as its potential to reshape how gold is traded and owned globally.

PAXG’s current 24-hour trading volume stands at $16.7 million, and its market cap is $456.4 million (as of Aug 2, 2024). 

To earn interest on any of the top stablecoins or cryptocurrencies, investors can use platforms like 

 for staking. On top of offering a competitive yield, Bybit offers the advantage of staking under both flexible and fixed terms. This gives investors the freedom and flexibility to pick a staking period that suits their risk appetite. 

 and get started on your passive income journey today.

 offers upgraded features and flexibility for participants to maximize their yields despite market volatility. Simply indicate your desired price to buy or sell your crypto assets based on the predicted market trend. You'll earn interest yields, regardless of your choice of market predictions, upon a predetermined settlement date. 

Decide on a base currency to start trading on the Bybit Spot or Derivatives market across thousands of asset pairs. Bybit offers a wide range of USDT, USDC and DAI-based crypto pairs as a base cryptocurrency that’s pegged with USD. Some of the popular crypto pairs include BTC/USDT, BTC/USDC, ETH/USDT, ETHUSDC, BITUSDT and more. 

 where you can participate in a total of four events through Aug 22, 2024, 10AM UTC. 

We hope our guide has helped you decide what the best stablecoins are and educated you as to their differences. The most popular stablecoins are likely to continue seeing favorable trading volume trends as more investors shift their interest to coins backed by some form of assets, which offer transparency when it comes to what they're backed by. 

Whether during periods of high volatility or steady market growth, stablecoins represent a crucial aspect of digital finance, offering a dependable store of value and a medium of exchange. Looking ahead, as the digital economy continues to expand, stablecoins are poised to play an increasingly significant role, bridging traditional finance and the burgeoning world of DeFi. 

Embrace the stability and potential of stablecoins as part of your investment strategy, and stay tuned for future developments in this exciting sector.

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10 Best Stablecoins to Look Into During Volatile Times (Updated)

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Explainers

Bybit Subaccount is a free smaller standalone account tied to the Bybit Main Account. Read to find out all about what it is and why you should use it.

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Every smart trader knows it’s crucial to create subaccounts to ensure greater trading efficiency. Subaccounts are mini-accounts under a main account that can help you compartmentalize your assets and investments, giving you better control over the management of your trades. 

Bybit also offers a Subaccount option for you to achieve your different trading objectives. Also, starting in July 2024, you can enter 

) using your Subaccounts, introducing a new level of organization and fairness to the competitive trading landscape. Curious to learn more about how Bybit Subaccount can help you with your trades? Read on to find out.

Bybit Subaccount is a smaller standalone account nested under the Bybit Main Account. 

You’ll first have to sign up with Bybit, complete Lv. 1 

 verification and open a Main Account before you can create a Subaccount. 

There’s no minimum balance required to keep Subaccounts active. In addition, no fees are required for creating and maintaining Subaccounts or for transferring assets between them and the Main Account. 

There are two main types of Bybit Subaccounts you can use: Standard Subaccount and Custodial Trading Subaccount. 

You can manage all of your trades directly under a Standard Subaccount, including 

, and transfer any of the coins listed in your 

 discounts awarded to your Main Account on your Subaccounts.

However, you won’t be able to invest in 

 products using your Standard Subaccount. As the P&L of Standard Subaccounts are separate from the Main Account, you’ll have a more streamlined tracking of your earnings and losses in each account. 

 that your total asset amount is automatically calculated and quoted in 

To create a Standard Subaccount, you’ll need to create a username. You can easily log in to your Standard Subaccount via the 

tab in your Main Account. You can also create a Custom Subaccount, for which you’ll need to create a username and password to log in directly to the Subaccount. 

You can create two Standard Subaccount types: a Standard Account or a 

 When you create a Unified Trading Account as your Subaccount, all of your 

 trading activities (except Inverse Derivatives) and all of your assets will be merged into a single account. This feature is useful for professional traders who wish to optimize their trading and maximize their asset use.

You can connect up to 20 Standard Subaccounts to your Main Account, allowing you to try out up to 20 trading strategies and tools and track their progress in different accounts. (

 isn’t required for Standard Subaccounts.) After creating your Standard Subaccount, you can bind it to Google Authenticator to boost your security, and delete it under the 

With a Custodial Trading Subaccount, you can entrust your assets to professionals to manage in order to enjoy a hassle-free trading experience. The choice of the professional trading team lies in your hands, giving you more control in choosing a trusted partner for yourself. 

, however, that the trading team you choose should be a current partner with Bybit.

Since the trading team executes the trades, you won’t be able to trade personally or view your trade and order history in the Custodial Trading Subaccount. This is in order to protect their trading strategies. However, your trades made in this account will benefit from the same VIP level and trading fee rates of the Main Account of the trading team. Also, just as with Standard Subaccounts, the P&L of your Custodial Trading Subaccount is distinct from the Main Account, and you can delete this Subaccount easily on the 

What Is a Bybit Subaccount and Why Should You Use It?

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What Is a Bybit Subaccount and Why Should You Use It?

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Compete for 2,500 USDT USDT Every Week

Grab Up to 5,000 USDT in Rewards