Compare Bitcoin (BTC) vs Pax Dollar (USDP)

Bitcoin is the original cryptocurrency, launched back in 2009 and today it remains the largest cryptocurrency with a market capitalization more than double that of its nearest competitor. Whilst Bitcoin has less features than other cryptocurrencies, its robust security, fixed supply and fully decentralized characteristics have helped it retain its status as the king of crypto.

Pax Dollar (USDP) is a stablecoin that is pegged to the value of the US dollar on a 1:1 basis. It was launched by Paxos Trust Company in 2018 and is regulated by the New York State Department of Financial Services (NYDFS). USDP is backed by US dollars held in reserve, which are regularly audited by third-party accounting firms to ensure that the reserves match the outstanding USDP tokens in circulation. One of the unique features of USDP is its focus on transparency and regulatory compliance. Paxos Trust Company is a regulated financial institution and is subject to regular audits and oversight by regulatory authorities. This provides investors and users with greater confidence in the stability and security of the USDP token. USDP can be used for a wide range of applications, including payments, remittances, and international money transfers. It can also be used as a trading pair on cryptocurrency exchanges and as a means of payment for goods and services. USDP is particularly popular among users who wish to trade cryptocurrencies without having to deal with the volatility of other digital assets. Overall, USDP is a stable and secure digital asset that is designed to provide a reliable means of payment and store of value. Its focus on transparency, regulatory compliance, and stability sets it apart from many other stablecoins in the market, and it has gained significant adoption among investors and traders in the cryptocurrency space. As of April 2023, the price of USDP is approximately 1 USD, as it is intended to maintain a stable value relative to the US dollar.