What Makes EURST Different?

What Makes EURST Different?

What Makes EURST Different?

As of August 2021, stablecoins accounted for over 5% of the total crypto market cap with a valuation of over $115 billion. Ever since their genesis in 2014, stablecoins have become immensely popular, providing people an easy on-ramp to the world of crypto but without the volatility. The value of these coins is usually pegged to an underlying asset such as gold, real-estate, or most popularly, fiat currencies, which helps the coins maintain a stable price.

 

They also facilitate instantaneous payment processing across the globe without the need for legacy financial systems. Even VISA, the world’s biggest payment processing solution is now allowing users to settle payments in dollar-backed stablecoins. This automatically opens new dimensions in banking the unbanked sector of our world and the way forward only looks bright.

 

On that account, the crypto world now has a new stablecoin called Euro Stable Token (EURST) created in an effort to revive the “flawed economic system” of countries within the European Union.

 

 

Fixing Flawed Economic Systems

 

EURST is essentially among the world’s first live audited ERC-20 tokens pegged to the US dollar. This means that EURST attempts to maintain a constant value of one euro at all times. The team behind the project believes that people from around the world can benefit from the project as they would be able to keep savings in Euro without the hassle of opening a bank account in Europe.

 

The platform processes crypto and fiat payments making it easy for people across the globe to send and receive payments with little friction. The need for intermediaries and banks can be efficiently reduced with users being able to store their stablecoins on the platform itself in their custodian accounts. And because the platform is built on the Ethereum mainnet, users can be rest assured that their assets are secured cryptographically.

 

How to Buy EURST

 

EURST allows for the minting, redeeming, and transferring of tokens directly through its dashboard. As of now, EURST is available on FMFW.io and HitBTC, but if you’re looking to directly mint EURST, here’s a simple procedure you can follow:

 

Step 1: Visit the official website of EURST

 

Step 2: Click on the get EURST button on the home page and you will be prompted to either login or signup.

 

Step 3: If you’re a new user, sign up, provide your dedicated Ethereum address where you’ll later receive the EURST, and pass the KYC procedure.

 

Step 3: Pass the KYC procedure.

 

Step 4: Now you’re ready to mint — choose wire or card payment and go.

 

Step 7: Once the payment is complete, you should see the EURST reflect in your wallet in the next couple of minutes.

 

Step 8: To redeem your EURST, send the required amount to the redemption address and check the USD deposit balance on your Wallex dashboard.

 

Step 9: To withdraw the USD from the dashboard, enter your bank account details and the sum you wish to withdraw. You should see the USD reflected in your bank account soon after.

 

As you can see, the process of buying, selling, or transferring EURST tokens is quite simple, making it a feasible financial option even for beginners venturing into the space.

 

 

How do you benefit from minting EURST from the source?

 

For sure you could go to any exchange which supports EURST — HitBTC, FMFW.io or other, who support EURST and get your EURST there.

 

However, have you tried to send funds to your preferred exchange, or use your card to buy BTC, only to see your payment was “Declined”? This will certainly not happen when you purchase EURST on its dashboard.

 

Moreover, after creating your account, you have direct access to hold your funds in an FDIC insurance eligible account in USA with up to 250,000 USD insurance — at any point you can rely on this insurance as long as you either hold USD balance, or EURST balance of this value.

 

And what’s more — you can easily, without restrictions, burn tokens from your account.

 

 

 

 

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