Rupiah Token is an Ethereum-based stablecoin the price of which maintains a 1:1 ratio with the Indonesian rupiah.
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What Is Rupiah Token?
Rupiah Token (IDRT) is an Ethereum-based stablecoin the price of which maintains a 1:1 ratio with the Indonesian rupiah. It aims to improve financial inclusivity and eradicate the difficulty of sending funds between parties. Since it is an ERC-20 token, it provides the transparency, speed, scalability, and security guaranteed by the network.
Currently, IDRT holds a position within the top-1000 cryptocurrencies. It can be stored on a number of ERC-20 compatible wallets like Trust, Metamask, AToken, Pundi, Argent. It also has numerous media partners, namely Coinvestasi and Aliansi Koin. The IDRT market consists mostly of crypto enthusiasts located mainly in Indonesia and given the opportunity to trade with stablecoins pegged to the value of their local currency.
Pros and Cons of Rupiah Token
Advantages of Rupiah Token
The developers have graduated from tech universities and have the proper education to lead the project to success. It was also audited by CertiK and got a 100 percent grade in safety which inspires confidence. The IDRT official website includes monthly bank reports for financial activity so the users know for sure that the system is completely transparent and law-abiding. Projects like this most certainly develop not only the blockchain but the local culture and subsequently boost the acceptance of Rupiah worldwide.
Disadvantages of Rupiah Token
IDRT is available on a few exchanges like Binance, Bitsten, Hoo, Liquid, HitBTC, Ecxx. For now, it still lacks proper exposure on the worldwide market. IDRT, as mentioned, also depends entirely on the Indonesian Rupiah which, like fiat money, is not as popular and stable as USD or EUR.