The crypto market is often associated with high volatility, wild swings in prices, and stories of rags to riches as well. It’s therefore very hard to look at crypto-assets as serious stores of wealth. But there are actually some coins that can help preserve your money without you taking so much risk: Here is how:
The crypto market these days has Stablecoins which are typically pegged on real assets.
Some crypto assets have minimal volatility too, including the mega caps.
You can buy crypto assets pegged on things like gold and other precious metals.
In case you are searching for coins that can offer you some stability in crypto, we have three here below to check out.
Pax Gold (PAXG)
As noted above, there are stablecoins in the market that are pegged on gold. Pax Gold (PAXG) is one of them. This is basically a crypto asset whose value is directly based or correlated with the price of gold.
Data Source: Tradingview
In essence, you get to store your asset in decentralized systems while getting the assurance of gold as a store of wealth. Many investors look at gold as the ultimate safe haven during times of volatility. PAX Gold helps you rely on gold in its crypto form.
PAX Dollar (USDP)
The Pax Dollar (USDP) is a stablecoin that is pegged on the US dollar. Just like the PAX Gold coin, its price is directly correlated with the US dollar. So, if you don’t want to put your money in fiat form, you can ditch the bank and store your dollars in crypto form.
Tether (USDT) is also backed by the US dollar. However, unlike PAX Dollar, it actually has much more trade volume and market cap. In fact, Tether is the most popular USD-based stablecoin in the world. It will let you store your dollars in the blockchain easily.