This allows stablecoin holders to earn passive income with their investment at a rate of 10-14%. From now on, the investors can top up their Esketit investing accounts not only in EUR, but also USDC and USDT. After the transfer, the crypto will be converted to euros, and upon withdrawal, back to one of the stablecoins. Withdrawing funds with Esketit is free.
The diversification of accepted currencies opens the doors of P2P lending to a wider variety of investors. Not all investors use fiat as an investment, and by accepting cryptocurrency, it broadens the opportunities for crypto investors to grow wealth.
Crypto holders can reportedly benefit from using their stablecoin to invest in Esketit as the platform provides transparency of ownership. The anonymity of many project owners has led to several crypto projects abruptly closing and invested currency disappearing, with an estimated USD 7.7 billion lost to crypto scammers to date. With a clear ownership structure, Esketit offers accountability to its investors, the company states.
USDC and USDT are stablecoins that are pegged to the US dollar price; thus 1 USDC/USDT = 1 USD.
USDT or Tether was the first stablecoin in the crypto market, and it is the largest stablecoin in terms of market capitalisation, worth over USD 64.5 billion. As of 2021, USDT is the most traded stablecoin in the market, as the ability to quickly switch blockchains holds many advantages without getting involved in volatility. It primarily operates on the Ethereum blockchain and exists on other blockchains, such as Tron, the official press release concludes.
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