Home Tech News What are digital dollars and how to save money with them

What are digital dollars and how to save money with them

What are digital dollars and how to save money with them
Dollar and Bitcoin. (Credit: Getty)

According to a survey carried out by CoinsPaid, a virtual cryptocurrency wallet, during the first 6 months of the year, 33.63% of respondents indicated that they could make more transactions if they found greater guarantees of security in these types of coins.

However, there are already some methods digital which are much more stable and less speculative than the cryptocurrencies better known as Ethereum, Bitcoin, Dogecoin, among others and that are aimed at the public that still has distrust of the digital system.

STOCK PICTURE.  Representations of virtual cryptocurrencies placed on US dollar bills in this illustration taken November 28, 2021. REUTERS/Dado Ruvic
STOCK PICTURE. Representations of virtual cryptocurrencies placed on US dollar bills in this illustration taken November 28, 2021. REUTERS/Dado Ruvic

What are digital dollars

digital dollars are virtual assets which work in a similar way to crypto, but which are backed by real money funds. Furthermore, instead of being a way of doing trading to generate profits based on market research, it serves more to save and be a bargaining chip with which to carry out Payments international and product purchases.

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According to Alex Robbio, CEO of Prontomás, people “seek savings and investment alternatives that are a safe and stable outlet, a way to maintain the value of their income and save money taking care of the value of your money”.

That is why to digital dollars or USD Coin (USDC) are known as coins stable, since they do not change their price in the way that other assets do digital. This allows more security paying for services even from other countries.

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Digital dollars are backed by real money funds.
Digital dollars are backed by real money funds.

How to save in digital dollars

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Regarding the methods of savingthese are based on the possibility that the digital dollars of not having to pay for commissions when making transactions through banks or financial applications. These digital assets can also be used to receive salary payments and progressively generate savings funds.

According to Airtm, a wallet of digital dollars, one of the most important recommendations to be able to generate savings within a bill of digital dollars is to analyze the economic situation. Like the coins local, the USD Coin can be used for any type of spent or investment as well as cash. “It is advisable to identify the expenses that reduce the ability to save when they receive income additions,” he says.

In addition, as is done with the accounts of money in local banks, users have to allocate a percentage of their income to saving and take it as a priority so that, in this way, the possibilities of the personal finances of each user can be increased. It is recommended that this percentage be one 10%.

The European Central Bank is preparing its cryptocurrency as an additional form of payment.
The European Central Bank is preparing its cryptocurrency as an additional form of payment.

The use of platforms digital is also useful for safeguarding the money and make it grow, although this also implies the use of cryptocurrencies to generate this complementary dynamic between the USD Coin stable and the virtual currencies with growth capacity. For this it will be necessary for people to be aware of the market crypto.

In the same way, it is also recommended that the Payments of debts through these digital dollars, so that bank commissions that could be generated are avoided. This could be beneficial to improve people’s borrowing capacity.

Finally, the USD Coins can be used as a means of payment for workers if the user is an employer or entrepreneur. This will make remuneration easier.

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