Stable coins

[altrolo017]

Hi guys, what are stable coins exactly?

Are they a good way to look in profits from the volatility of the crypto market?

Please correct me if I'm wrong as I'm trying to understand what a stable coin is.

Example, if you buy 1 alt coin for $100 and next day it's value increases 10% and now your 1 alt coin's price is $110. If you wanted to lock that profit could you move that $10 to a stable coin such as tether rather than BTC where the price appears to be fluctuating too much for my liking.

How do you transfer your money out of the altcoin and into a stable coin?

Are they any stable coins which do not require intrusive KYC details?

Do you think stable coins are the future?

Many thanks.

[apityeh71]

Stable coin now only USDT/TETHER, so if you want to lock profit in to it will be better and more easy to trade in pair USDT,  and now some exchange that offer many pair altcoin with USDT is Gate.io and Okex. Trading in gate.io required full KYC to able make withdrawal but for the Okex, this exchange  offer account without verification with limited withdrawal amount.

[kickdapa]

I am confused by reading your post heading and details. Seems different , For your help, I would like to say, if you want to lock your profit then you should go for Altcoin/USD pair. USDT, Tether Pair is available in some good exchanges. Like, binance has the altcoin/USD Pai, in hitbtc, Kucoin has the same Pair. And, yes, you have to verify before withdraw. Verify means not like KYC, You can withdraw by verifying 2FA Verification. Stable coins means are like those coin will not dump, every crypto coin has a dump and pump, you see. Stable coins mean to me, They have a stable and well-known project, they keep working for the project development, they have an active team. And, that coins will have the good volume too.

[TryNinja]

Hi guys, what are stable coins exactly?

Isn't the name self explanatory? STABLE coins, which price is stable.

Are they a good way to look in profits from the volatility of the crypto market?

Obviously. The same way you can buy and sell BTC for USD, you can use them as a way to avoid losing money while the price is dropping.

How do you transfer your money out of the altcoin and into a stable coin?

By trading your coins for them in an exchange.

Are they any stable coins which do not require intrusive KYC details?

All of them? AFAIK you don't actually need do to any KYC verification to trade them in specific. E.g: right now, you can trade any coin for USDT at Binance without doing any KYC.

Do you think stable coins are the future?

What do you mean "the future"? They will be used in the market, but not as the main currency.

Stable coin now only USDT/TETHER, ~snip~

Not only USDT. There is DAI and TrueUSD as the second ones most known and a few others like bitUSD/bitEUR and Nubits.

[karungbitcoin]

All coins has high volatility except USDT and TUSD, when doing trading activity is important to chooce exchange that offer pair of USDT to lock the profit and to avoid loss when all crypto down cause bad news. For beginner trader is more easy doing trading activity in the pair altcoin with USDT, because will be more easy to analysis the price action. There are many exchange that have pair altcoin with USDT and they does not required KYC , one of these exchange is HitBTC.

[Tytanowy Janusz]

Almoast every exchange have option to trade with USDT or TUSD. They are both tokens that imitates American Dolar (every USDT/TUSD was print when company recive USD to their bank account from users. Thats why they are stable. you can also convert it back to USD). USDT is more popular. TUSD i newer, less popular but it is subject of regular audits. Which gives investors feeling that it is safer (there was lots of rumors that Tether (UDST) is printing more than it should - more than it gets $$ and if anyone decide to reconvert their USDT to USD there will be not enought USD - but that's only rumors).

You can check on coinmarketcam if specyfic exchange has trading pairs with TUSD or USDT. I highly suggest you binance. Thats my favourite one. It has USDT pair with NEO ADA XRP BCC BNB LTC ETH and is close to aslo supprot TUSD.

And there are others less popular like TryNinja said:

Not only USDT. There is DAI and TrueUSD as the second ones most known and a few others like bitUSD/bitEUR and Nubits.

[Wind_FURY]

Hi guys, what are stable coins exactly?

Isn't the name self explanatory? STABLE coins, which price is stable.

Are they a good way to look in profits from the volatility of the crypto market?

Obviously. The same way you can buy and sell BTC for USD, you can use them as a way to avoid losing money while the price is dropping.

How do you transfer your money out of the altcoin and into a stable coin?

By trading your coins for them in an exchange.

Are they any stable coins which do not require intrusive KYC details?

All of them? AFAIK you don't actually need do to any KYC verification to trade them in specific. E.g: right now, you can trade any coin for USDT at Binance without doing any KYC.

Do you think stable coins are the future?

What do you mean "the future"? They will be used in the market, but not as the main currency.

Stable coin now only USDT/TETHER, ~snip~

Not only USDT. There is DAI and TrueUSD as the second ones most known and a few others like bitUSD/bitEUR and Nubits.

Plus stablecoins are good for holding "fiat" that you can transfer to your own wallet instead of storing real fiat in an exchange.

They will be useful for speculation during crashes or bear markets.

[kokobaba880]

In crypto market all currencies with time and if we say that a coin is stable that will be not for days but with in seconds the value may be changed so i think Litecoin is the stable coin in my opinion.

[whirlcoin]

Hi guys, what are stable coins exactly?

Are they a good way to look in profits from the volatility of the crypto market?

Please correct me if I'm wrong as I'm trying to understand what a stable coin is.

Example, if you buy 1 alt coin for $100 and next day it's value increases 10% and now your 1 alt coin's price is $110. If you wanted to lock that profit could you move that $10 to a stable coin such as tether rather than BTC where the price appears to be fluctuating too much for my liking.

How do you transfer your money out of the altcoin and into a stable coin?

Are they any stable coins which do not require intrusive KYC details?

Do you think stable coins are the future?

Many thanks.

USDT is ine of the stable crypto which almost have the price near to $1,so you can covert your profits into USDT when the prices are going down and later you can buy again when it reaches its bottom.But I am not transferring any profits into stable coins because they are centralized so keeping then is also high risky so it is better to transfer into other crypto which is doing better at the moment.

[rudox]

Tether is the only coin that is fairly stable. So you can withdraw your increase and lock it in TETHER/USDT. Unfortunately you must do KYC  as it is like a solid requirement when working with TETHER. So you can  not run away from KYC.

[okocrypto]

From my understanding, what constitutes a stable coin is that which have a working product that have been accepted and already generating revenue. Any coin without a working product can be dumped and abandoned. As for the aspect of fluctuation, it's natural for all currency even fiat  and commodities. So the product behind every coin is what will always raise the value of that coin when hit with natural corrections.

[moshk555]

I am checking from last many months and the most stable coin I have seen so far is Ethereum is growing nicely it gets dumps sometimes but recovers very soon and not go down like other coins go for me Ethereum is the most stable coin.

[okocrypto]

Tether is the only coin that is fairly stable. So you can withdraw your increase and lock it in TETHER/USDT. Unfortunately you must do KYC  as it is like a solid requirement when working with TETHER. So you can  not run away from KYC.

When you talk about stability of Tether, does it mean the value only goes up and never down irrespective? What guarantees of making profit do I have when I lock my money in Tether/USDT? The last time I checked, all curtencies fluctuates in respect to fundamental and technical and sometime manipulated reasons.... there will always room for corrections. If you have a contrary view, can you please share.

[mrproblem]

For USDT as far as I know fluctuation ratio is between 95% - 103% of 1 USD. Most of the time 1 USDT is between 0.99 USD - 1.01 USD.
So if you want to keep your cyrpto in a stable value of USD just kep it in USDT or in coins like USDT.

[EvaGC]

Hi!

You should read Bringing stablecoins to the next level
https://medium.com/@globcoin_io/bringing-stablecoins-to-the-next-level-357879430b0f

You will see an argument about why would someone need stablecoins and a few details on the operational process.