The market is dumping currently, and all of us are trying to save our funds, one of the best ways to not get REKT is to convert your cryptocurrencies into the stable coins.

This post is a brief about stable coins - A stablecoin is a new class of cryptocurrencies that attempts to offer price stability and are backed by a reserve asset. Stablecoins have gained traction as they attempt to offer the best of both world’s—the instant processing and security or privacy of payments of cryptocurrencies, and the volatility-free stable valuations of fiat currencies.

This information might be a common knowledge for many of you, where you are using stable coins for trading everyday. But I am assuming a good no. of people do not know about the basics, technical and lacks the core information about them.

• USDT - Tether (USDT) is a cryptocurrency with a value mint to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars, but on 14 March 2019 changed the backing to include loans to affiliate companies.
  There has been a lot of controversy around USDT, which is they claimed to have got their security audit done, tether claims that it intends to hold all United States dollars in reserve so that it can meet customer withdrawals upon demand, though it was unable to meet all withdrawal requests in 2017.  Tether purports to make reserve account holdings transparent via external audit; however, no such audits exist. In January 2018 Tether announced that they no longer had a relationship with their auditor. The value of USDT as the say is not stable, and it keep varying. You can see the following charts for that -
  
  
  
• USDC - USD Coin (USDC) is a type of cryptocurrency that is referred to as a stablecoin. You can always redeem 1 USD Coin for US$1.00, giving it a stable price. Each USDC is backed by one US dollar, which is held in a bank account.
  
  Price of USDC Coin -
  
  
  
• PAX Token - The PAX token aims to solve the stability issue by being linked to one of the oldest, most stable and well understood assets around: property. The purpose of having the value, stability and security of tangible assets behind the PAX token is to instill confidence and help counter the volatility seen in other cryptocurrencies.
  
  Price of PAX Coin -
  
  
  
  
• DAI - Single Collateral DAI(SAI) and Multi-Collateral DAI(DAI)
  
  If you see the charts DAI is one of the most stable coins present -
  
  
  
  You can convert your Bitcoins to DAI using CoinSwitch Exchange - https://coinswitch.co/coins/bitcoin/bitcoin-to-dai