What Makes SameUSD the Perfect Currency?

Many cryptocurrencies in the market today claim to be the perfect digital currency. However, few meet the standard requirements of an ideal currency. Before we pass a judgment on these cryptocurrencies, let us look at the qualities of a perfect currency.

Other than the obvious use cases of cryptocurrencies, such as storage of value and unit of account, they also need to be stable to serve as payment methods. Price stability is a major flaw that prevents the mainstream adoption of digital currencies as a viable payment option. Luckily, SameUSD checks all the boxes of the “perfect currency” by ensuring minimal volatility. SameUSD delivers this function because it is backed by a verifiable reserve of top stablecoins in the current market.

So, what exactly is the benefit of using SameUSD over other stablecoins and cryptocurrencies in general? Well, let’s dive right in!

Advantages of Using SameUSD over other Cryptocurrencies

SameUSD ($SUSD) looks to correct all of the shortcomings of Bitcoin and other mainstream cryptos like Ethereum ($ETH). With SameUSD, you are assured of stability which is a much-desired trait of any currency. One SameUSD is equivalent to one USD in value. This stable value allows for proper valuation of goods and services, unlike other cryptocurrencies that fluctuate in value every second.

SUSD achieves this stability via its unique mechanism that backs the coin by a reserve of top stablecoins. These stablecoins in the reserve are calculated and adjusted through the help of smart contracts to ensure that SUSD maintains a stable value ($1) even in a volatile market.

Additionally, SameUSD is designed to offer more efficiency in online transactions by providing faster and more reliable payment processing with the lowest transaction fees in the market today. To get the most out of the SameUSD, you need to use SamePay — a payment platform that allows you to enjoy rewards for minting, staking, and using SameUSD.

Using SameUSD on SamePay

  • SameUSD has a verifiable reserve. Unlike other stablecoins like USDT, which have been questioned about their fiat-backed reserves, SameUSD is backed by a large reserve of stablecoins that are easily verifiable, owing to its decentralized property.
  • Transactions made using SameUSD on SamePay are faster compared to some other cryptocurrencies.
  • Since SameUSD is backed by a reserve of stablecoins, it maintains a more stable USD value compared to other stablecoins pegged directly to the USD.
  • Users are rewarded with Samecoin ($SAME) — a utility token in the Samecoin ecosystem — whenever they mint or make transactions using the stablecoin. $SAME can be used to pay for trading fees on the platform.

SameUSD vs Other Stablecoins

As for SameUSD and other SAME-stablecoins, the large pool of stablecoin reserves can be easily verified by the public since it is decentralized. This places the SUSD ahead of other stablecoins where stability and credibility are concerned.