How to Store Stablecoins on RSK - The Complete Guide to Stablecoins
In this section, we will cover how to store stablecoins on RSK.
Stablecoins can be stored using crypto-wallets.
Some crypto wallets support smart contracts when they connect to blockchain networks such as RSK. They allow a user to invoke smart contract functions. Recall one of the differences between tokens and cryptocurrency, which is that tokens are implemented using smart contracts. Thus crypto wallets which understand smart contracts are necessary to store and transfer tokens.
Read more in What Wallets Do.
Crypto wallets can come in various forms, including hardware wallets, and software wallets. Read more about Hardware and Software Wallets to learn about the difference between these types of wallets.
Also, watch this explainer video below to understand how crypto wallets work:
Using Software Wallets
You can add any of these stablecoins to a wallet integrated with the RSK network that lets you add custom tokens. This includes Metamask, or any wallet that supports WalletConnect.
The following wallets can also be used to store stablecoins, as these wallets both support RSK and the ERC20 Token Standard.
Defiant
Defiant is the first mobile platform and geolocation-enabled P2P marketplace for stablecoins. It allows the exchange of cryptocurrencies from the Bitcoin, RSK and Ethereum ecosystem. You can store, send, and exchange crypto in an agile and secure way, without intermediaries.
Watch the explainer video for how to install and setup Defiant wallet:
You can get the Defiant App on Playstore and Apple store.
For a list of supported Cryptocurrencies and Tokens, see the Defiant Solutions Page.
Liquality
The Liquality Wallet is a browser extension for accessing Bitcoin, RSK, and Ethereum networks. This MetaMask alternative supports multiple blockchains and provides the easiest way to flip between assets on the Bitcoin, Ethereum, and RSK networks with built-in one-click atomic swaps.
Watch this video on how to install and setup your Liquality wallet:
For a list of supported cryptocurrencies and tokens, see the Liquality Solutions Page.
Visit the Open Finance solutions page to see the full list of wallets currently integrated with RSK.
Stablecoin Gas fee Comparison tool
This is a tool for comparing average gas fees paid for the last 200 transfer transactions of DAI and USDT Stablecoins on Ethereum and RSK blockchains. The tool makes a live request to the Covalent database, gets the information about the latest transactions of selected Stablecoin and displays the prices converted to USD using the latest rBTC - USD and Ether - USD exchange rate.
Stablecoin Gas Fee Comparison Tool
Next
Be sure to check out our next article in this guide, on How to Get Stablecoins on RSK - The Complete Guide to Stablecoins
If you would like to delve deeper, here are some resources and tools that we recommend.
Resources:
- Visit RSK Developers Portal
- Dollar on Chain: A stablecoin for bitcoiners, by bitcoiners
- Defiant: Solutions on RSK
- RSK Token Bridge
- Webinar: RSK - Ethereum Tokenbridge
- Build on Bitcoin using rDAI
- Ask any Difference
- Difference between a Cryptocurrency and Token
- What are Stablecoins?
- RSKSwap
- RSK Explorer
- Stablecoin Gas Fee Comparison Tool