Stablecoins pegged to the U.S. dollar are known as the “crypto dollar.” USDT, USDC, and DAI are the most recognized examples.

Because of the technical jargon and lack of information, the crypto world can seem a bit intimidating to people who have never used digital assets in their lives. But the reality is that the cryptocurrencies are solving more and more everyday problems, and they are becoming a very interesting option for many Argentines.

Stablecoins, for example, are key for belo to offer the simplest service for receiving money from abroad and using it afterward in the country: without so much delay, at a good exchange rate, and from a single app. So, now, what are stablecoins and what benefits do they offer for receiving money from abroad? We'll tell you everything in this article.

What is crypto dollar: USDT and USDC

In recent years, the term “crypto dollar” has become popular to refer to stablecoins pegged to the dollar's value. Unlike other cryptocurrencies such as Bitcoin (BTC), whose value is volatile, stablecoins are designed to maintain a stable value, making them an ideal option for those looking to protect themselves from inflation and devaluation.

USDT, USDC, and DAI stand out as the most famous stablecoins on the market, and they maintain a 1:1 relationship with the dollar; hence the alternative name of “Crypto Dollar”.

Receiving money from abroad: how to do it with crypto dollar

The options in belo are:Receive cryptocurrencies (USDT, USDC, DAI, BTC or ETH) from anywhere in the world through a blockchain network or by belotag.Use any other method of receiving money from abroad with belo (PayPal withdrawals, Payoneer, SEPA transfers…) and have the funds credited to your wallet as USDC.

USDT to pesos: how to convert crypto in belo

Once you have stablecoins (USDT, USDC, DAI) in your belo account, you'll be able to convert them to pesos in a single click, with the “Swap” button, on the app's main screen.

Otherwise, you can keep the balance in crypto, since in belo it generates real-time yields and serves to pay at any merchant in the world through the belo Mastercard.

Benefits of crypto dollar for receiving money from abroad

1. Speed and Efficiency

Unlike the international bank transfers, which can take several days and be subject to high fees, transfers in stablecoins are almost instantaneous and generally cheaper. This means you can access your funds quickly and efficiently.

2. Stability and a good exchange rate

Stablecoins allow you to receive payments in a strong currency, at parity with the U.S. dollar. In addition, the crypto balance generates automatic yields in the belo wallet.

3. Ease of Conversion

Stablecoins can easily be exchanged for Argentine pesos within the same app.

4. Global Access

Stablecoins are not limited by borders, which means you can receive payments from anywhere in the world without the barriers that traditional financial systems usually impose.

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