Cryptocurrency

Crypto Gets A Unique Stablecoin, Here Comes EURST From Wallex

Crypto Gets A Unique Stablecoin, Here Comes EURST From Wallex
Written by Arindam
Crypto Gets A Unique Stablecoin, Here Comes EURST From Wallex

Stablecoins are not a new phenomenon in the market. They are now part of every single aspect of the crypto industry. There have however been concerns about these stablecoins and their longevity in the space. Some like Tether have had various run-ins with the law that have often threatened their existence. This is why the need for better, unique stablecoins has arisen and this is where the EURST stablecoin enters the picture.

EURST stands for EURstablecoin and is the first representative Euro stablecoin to hit the market. It is effectively pegged to the real currency of the Euro in USD. The stablecoin is live audited and 100% backed with fiat funds. This physical, real-time audited, and redeemable U.S. Dollar reserves make it one of the most stable cryptocurrencies available today. As the roles of stablecoins in crypto become more important, so does the offering of EURST.

The stablecoin uses a proven centralized model to fully back all tokens issued with the unit equivalent of a real currency, for example, the U.S. dollar. It is a transparent reserve currency that is managed by Wallex Trust. Wallex is the central issuer of EURST tokens.

How To Get EURST Tokens

EURST is the only stablecoin available on demand for users. Verified users are able to mint the tokens on the Ethereum blockchain either using a bank transfer or directly with their card. There are no pre-minted EURST tokens, something that clearly differentiates it from every other stablecoin in the market. Since it is an ERC-20 token, it is easy to spend EURST tokens. Furthermore, the tokens can be used for crypto trading, as well as a reliable store of value.

EURST users also qualify for FDIC insurance up to $250,000. This applies when the registered user chooses to keep their fiat currencies in the custodian accounts provided on the website. Withdrawing funds to another bank account is an available option which is an instant transaction that attracts low fees.

This institutional-grade digital euro currency is the most reliable stablecoin. Additionally, the utility for EURST tokens is vast. They can be used as a mode of payment, for trading, savings, escrow, and for institutional use. It is basically a digital version of the euro that works just like its physical counterpart.

Trusted, Safe, Reliable

The need for stablecoins in the crypto space cannot be overestimated. In a market that is categorized by intense volatility, stablecoins can provide a much-needed reprieve for investors who do not want to take a chance on the crypto market but still want to hold crypto assets.

EURST tokens provide this and more to users. Its live audit process ensures consistent transparency by enlisting an independent accountant who collects audit evidence and publishes a public report that includes the findings from this data.

The token is built to the highest ERC-20 standard on the Ethereum blockchain which is the most used and tested blockchain in the space. A third party also regularly checks the workflow of EURST to ensure that it is always safe to use.

To learn more about EURST, visit

 

 

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Arindam

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