Fiat-Pegged Cryptocurrency
By CoinGecko | Updated on Mar 03, 2020
Certain cryptocurrencies are pegged to an underlying asset, such as the USD Coin (USDC), which is a stablecoin by Coinbase. A USDC token is issued for every $1 kept in Coinbases' reserve.
A pegged cryptocurrency can be pegged to any asset and then issued on a blockchain. As long as the cryptocurrency can be redeemed for the underlying asset, it can be considered as a pegged cryptocurrency.
Related Terms
Buy the F***in Dip (BTFD)
An encouraging rally by asset/cryptocurrency supporters to buy during a price decline
Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
Private Keys
The alphanumeric string which allows transactions from the cryptocurrency address
Shitcoin
A coin with no obvious potential value or usage.
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