Bitcoin's price volatility is generally beneficial as it improves the purchasing power of Bitcoin over time. However, for those using Bitcoin for everyday expenses, the volatility can pose challenges. To address this, we introduced Stablesats.
Stablesats represent “synthetic dollars” (where $1 in Stablesats equals $1 USD worth of satoshis) and can be seamlessly sent, received, and held within the Blink wallet. Utilizing Stablesats provides a stablecoin-like experience without the additional expenses and complexities often associated with stablecoins.
Receive Bitcoin on Stablesats and get rid of the volatility:
To Receive on your Stablesats account:
Now you can convert your Bitcoin to Stablesats instantly:
Keep your money out of the volatility and transact with Stablesats. When you pay a lightning invoice, your stablesats get converted instantly to bitcoin and delivered to the recipient:
To send money from your Stablesats account you need to:
The only way to store value with no counterparty risk is to hold bitcoin in cold storage according to best practices. All other means of transacting and storing value, including Stablesats, involves some level of risk. To offer the ability to protect funds in your Blink wallet from volatility, Stablesats utilizes the bitcoin derivatives market, specifically a "perpetual inverse swap," relying on exchanges for contract execution. In the event of negative occurrences on the Exchange, collateral Bitcoin may become unrecoverable and the funds held in your Stablesats account could be lost or caught in legal proceedings.
To mitigate these risks, the Blink and Galoy teams conduct ongoing monitoring, improvements, and risk assessments aimed at reducing the inherent risks associated with offering Stablesats. There is also ongoing development of the open source Stablesats project aimed at adding additional exchanges, which will further de-risk the product.
Learn more about what we do to keep funds safe: Know your custodian
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