The expert spoke about the hidden risks of stablecoins

Stablecoins remain one of the most stable instruments on the crypto market, but their use is fraught with risks, Fyodor Sidorov, a private investor and founder of the School of Practical Investing, told Izvestia on May 3.

"Stablecoins are positioned as a relatively stable segment of the crypto market, since their exchange rate is pegged to fiat currencies, most often to the dollar. However, this does not make them a safe tool for storing savings," he noted.

According to him, although stablecoins seem nominally stable, they are still part of the crypto infrastructure and are subject to the same risks. These include lack of transparency on the part of issuers, lack of guarantees, and vulnerability to technical failures, blockages, and regulation. In some cases, the projects lost their dollar peg or completely ceased their activities.

The expert added that the crypto market as a whole is a high—risk environment, and decisions here should be made only by those who are well versed in the mechanisms of its operation.

"For a wide audience, stablecoins are not the equivalent of a dollar under a pillow, but a digital asset with its own threats," Sidorov summed up.

The information in the material is not an investment recommendation.

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Earlier, on March 23, the director of communications of the cryptocurrency exchange exmo.me Mikhail Smirnov, in an interview with Izvestia, gave tips on recognizing crypto scams. According to him, phishing is one of the most common and dangerous cyber fraud schemes in the crypto industry. It is phishing attacks that cause the loss of funds in most cases. Attackers fake the website of a popular crypto exchange or wallet and distribute a link to it via email, instant messengers or advertising.