Over 1% of active Redeeem users have already swapped bitcoin for USD stablecoins to protect profit margins, despite record-low volatility in Bitcoin over recent months. According Cryptoslate, stablecoins are worth $21 billion in market cap—about 5.9% of the entire crypto market. Stablecoins are widely used across decentralized finance (defi) protocols for lending and borrowing, and provide necessary stability in such a volatile crypto market. Tether (USDT) is ranked as the #3 most popular cryptocurrency overall behind only Bitcoin and Ethereum, with a market value of $15.38 billion. USD Coin (USDC) comes in a distant second at $2.54 billion, DAI (DIA) is valued at $933.84 million, Binance (BUSD) is valued at $519.71 million, and True USD (TUSD) is valued at $508.58 million. Redeeem added support for stablecoins in September and has already seen about 1% of active users swap bitcoin for USD stablecoins. Please note, stablecoin tokens will not be available for gift card trading or withdrawal, as they will be locked in a smart contract on Ethereum, secured by your Redeeem password and wallet keys with 2fa security. Each swap (in either direction) will cost just 0.0003 BTC (~$3.40) in mining fees with 0% commission.

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