Stablecoins are cryptocurrencies whose market value is tied up to another currency or to external references. They are more useful than being more volatile cryptocurrencies as means of exchange . Stablecoins are fasten to the U.S currency that is dollar also to a commodity like gold.
Stablecoins try to get price stability by maintaining to keep for later use asset as collateral or through algorithmic formulas which are suppose to control supply.
It aims at providing and offering a choice to high volatility of most popular cryptocurrencies including Bitcoin.
I could remember a stable coin that I saw that worth not less than $2 and I now remember that such kind of project can never last long.
Many time scammers try to create stablecoins luring investors that know nothing about the crypto market to invest there fund and later the coin disappears. We just have to be at an alert and take cautions so that we don't put money in a projects that would crash immediately and left us with nothing. The crypto market is a very good place we could make money for ourselves but any stablecoin that is not backed by a currency should be ignored.