Cryptocurrency Q&A
What is a stable coin on Phantom Wallet?
What is a stable coin on Phantom Wallet?
Giulia
Thu Mar 27 2025
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7
answers
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I'm exploring Phantom Wallet and I'm curious about stablecoins. Could someone explain what stablecoins are within the context of Phantom Wallet and how they work? Additionally, are there any specific stablecoins that are commonly used or recommended on Phantom Wallet?
7 answers
SamuraiWarrior
Fri Mar 28 2025
These assets can include traditional fiat currencies like the US dollar.
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TopazRider
Fri Mar 28 2025
They may also be pegged to commodities, which can serve as a store of value.
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Michele
Fri Mar 28 2025
Stablecoins represent a unique category within the realm of cryptocurrencies.
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KpopStarlight
Fri Mar 28 2025
Their primary objective is to stabilize their value.
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CryptoSavant
Fri Mar 28 2025
In some cases, stablecoins are backed by other cryptocurrencies.
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