Not long ago, the release of Tiedcoin was announced by Tiedco. Basically, it is said to be a new stablecoin which would undergo collateralization by Yen and Euro, making it the world’s foremost Yen controlled cryptocurrency. Likewise, altcoin is tied with the bitcoin. Usually, altcoin rates fluctuate with the variation in bitcoin. Therefore, when you are trading then you make the bitcoin as a base currency to control the cryptocurrency.
Now, it was made known to the public that, Tiedco struck a partnership with beaXchange, where they token would be traded on the cryptocurrency trading exchange. Basically, the agreement terms were quite straightforward, as Tiedco was to play the role of the market producer of the coins, and also to remain in the market, so as to buy-back all the coins which were given at a near face worth.
This innovative market making, alongside with the buy-back feature, is unique and none like no other, making Tiedcoin, the world’s number one stablecoin from Japan, to have admittance to additional liquidity. Also, those who hold it, would be able to change the coins to fiat currency, in the most effortless and evident means.
Modus Operandi of Tiedcoin
Currently, there are two options for Tiedcoin, which are Tied2JPY, financed by the reserves available for Japanese Yen, and Tied2EUR, financed by the reserves available for Euro. Hence, for each of the above listed stablecoins in the market, either a Yen or a Euro, will be conserved in a tier-one bank.
Expatiating further on how this works, Tiedco explained that when you purchase T2JPY, the Yen you pay, is taken to the vault. However, when you sell T2JPY, the Euro is removed from the bank and given to you.
TideCo made a press release not too long ago promising 100% buyback on all stablecoins that are issued. With this, prospective traders can be sure that there is a stable future whenever they either want to buy or sell the token.Hence, both T2JPY and T2EUR can be purchased directly from TiedCo, and also third parties as well.
Another benefit of the partnership with beaXchange is, it would work both as extra value and also crypto aid. Any transaction carried out with T2EUR and T2JPY, would be immediate, which also includes the sales of either your Ethereum or Bitcoin, in replacement for these tokens.
Also, it was stated that Tiedcoin also has cross-platform wallet operation in stock. This implies that, your Tiedcoin can be exchanged for Ethereum, Litecoin, Stellar and Bitcoin through BeaXchange, offering zero cost.
Pros of Tiedcoin
In the release, it was mentioned that, for the exchange of Tiedcoin to any cryptocurrency, it happens promptly, as against the impediment which is experienced when exchanging fiat to crypto. They further mentioned that one of the key deliberations which an investor would consider before making any investment in the crypto market, would be the conversion fee.
They also pointed out that, a good number of banks and exchanges usually request a fee whenever you want to purchase or make sales, which implies that your profits would be slightly affected, most times in cases when the sales of asset happens quite soon. However, when it comes to Tidecoin, no fees are incurred with transfers on beaXchange.
Hence, for every ETH, BTC or any prominent crypto you purchase with either T2JPY or T2EUR, you can be sure that no fees are incurred. The same also applies when your main crypto for tied is sold, you are not required to pay any fee.
The advent of Stablecoins
Basically, there are two operational and functional models for stablecoins. The first one works with algorithm, whereby the stablecoins are generated and sold with the algorithm which is aimed at keeping the coin at a specific value.
The second type comes with backups. These backups are issued by the companies who issue them out, and they can either be in properties which have values or fiat currencies.
According to Kryptomoney, it is a mainstream fact that the crypto market is volatile, and it is one of the delays which are preventing investors from launching into the ecosystem. Since it is obvious that this volatility is still in the picture, investing with fiat-backed stablecoins gives you a risk-free environment, where the investor can enter and leave the market as he likes.