Why do we need so many stablecoins?

[Huruharacorp]

For we to have a stable investment and stable income from it. Because if we keep depending to the not stable coin we can go down or up so fast. And because of stablecoins we can buy some of not stable coin to have more profit from it.

if we see good coins and have the potential to rise again, then the good time now is to buy when you find a good coin in this bad condition, believe and survive after buying is the best choice

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[sinkfish]

supply and compatibility to different platform and country.

[Ucy]

Same reason we need Seatbelt and Helmets. It's common sense to add such safety measure to Cryptocurrency wallets and exchanges otherwise the Cryptocurrency World would be alot more risky and dangerous .

If you have a Car Racing Company and you want more people to use the cars, I guess the normal thing to do is to add some basic protections like seatbelts, helmets and others.

[Sponsoredby15]

Some companies create new stablecoins, why do we need them? if key is already there. I hope they will not be as much as conventional cryptocurrencies (more than 1500) of which most scams.

Tether is on e of the reason why Bitcoin is in the ground right now. Since Tether is not back up by real US$, they  use Tether to pump and dump Bitcoin that is why the US government is now on the process of Investigation in Tether.

[NeuroticFish]

But do we need a lot of stable coins? I know that we have USDT, TUSD, CKUSD and many more. We knew that most exchange sites are using USDT. I thought that these stable coins have created with a purpose.
CKUSD only traded on two platforms. I think these platforms are taking the advantage by creating their own stable coins. It's just an example.

Of course not. But I guess it's a good business for the ones issuing them, so.. they are issuing such coins.
Do we need so many similar altcoins? No, but we have them. Some moon, some survive, some die off. I guess that something like this is going to also happen with some stablecoins too.

USDT has some trust issues, although it's accepted almost everywhere (crypto exchanges).
I didn't hear of the others.
GUSD aims to solve the trust issues and has a chance to become a real competitor for USDT.

[Hudora]

Some companies create new stablecoins, why do we need them? if key is already there. I hope they will not be as much as conventional cryptocurrencies (more than 1500) of which most scams.

This is to ensure that we are confident in the future. And also in order to finally be able to pay with cryptocurrencies for the goods we need. This is necessary in order to make the coins more familiar. I think it will help to make the economy better

[senin]

It is obvious that we don't need so many stable coins on the market, it enough just one. But those who create them just want to earn money.

Stable coins, such as USDT, are very necessary for us. I think it would be very useful to have not only a digital copy of the dollar, but also other major currencies, as well as some national money. Harm from this will not be any, and the comfort will be great.

[BitcoinHodler]

because there is money in creating them and there is power to be gained if they can gain some popularity.

basically they will become the centralized authority to print money, and an easy money at that since it doesn't cost anything to print it. like Tether for example. right now the Tether company is the centralized authority who holds the coins, controls everything about the network and circulating supply and they are printing it and selling it to the masses and earning real money!

[Itsmylife]

Because we have many kinds of goods, services, and projects. Every one of them always needs a coin to represent in the crypto world. It looks like the stock of the company in forex.

[MancyZz]

It is obvious that we don't need so many stable coins on the market, it enough just one. But those who create them just want to earn money.

Stable coins, such as USDT, are very necessary for us. I think it would be very useful to have not only a digital copy of the dollar, but also other major currencies, as well as some national money. Harm from this will not be any, and the comfort will be great.

with the stable had indeed a very capable to produce much bigger gains and minimize the opportunities for receiving the risk too great.
 so very nice to count on it. like IOTA, EOS, and the Ripple that becomes stable coins this year.

[k.nero]

There’s whether USDT comes in, having a stable coin means that crypto transactions in place of fiat will be widely accepted.. but USDT to my knowledge has not been used for that.. we all hope to see something soon

[dgoswami12]

Some companies create new stablecoins, why do we need them? if key is already there. I hope they will not be as much as conventional cryptocurrencies (more than 1500) of which most scams.

The main purpose for stablecoin like USDT was introduced waa due to veey often big fluctuations in Crypto market , so that you can convert your assets in a stablecoin to not get into loss , but yes there are so many stablecoins now though I only use USDT & TUSD 

[RBEP-RBC]

We don't! But, we don't really have any good ones yet. And even if they are good it takes time for them to prove their functionality and ability to resist market stresses. You can't do that with just a whitepaper or even a few months of market testing. USDT is just an example of a shitty stablecoin that is successful because it was early. I cheer for all the better stablecoins to replace USDT and their shady operations.

[honghe99]

Most companies create stable coins to replace Bitcoin and attract merchants outside the market to use it! But for investors, you don't need such a coin, because Bitcoin has done everything!

[KOF97]

I think that stabilizing money is only a channel. In fact, you don't need so many stable coins. Only a stable currency approved by the government is needed. Excellent stable coins will accelerate the development of cryptocurrency. But U, S, D, T are not necessarily good, they may be suspected of oversold.

[Coin_Tracker01]

we don't, as simple as that. We really need only one that is truly trustworthy, stable and decentralized.

[Barbatos]

Now cryptocurrencies exist only on the Internet. It seems to me that if there are several stable coins, then we will be able to reach the level at which we will pay with crypto-currencies and receive salaries in crypto-currency. It will be a kind of progress

[MortonAlden]

Some companies create new stablecoins, why do we need them? if key is already there. I hope they will not be as much as conventional cryptocurrencies (more than 1500) of which most scams.

Well there is a definite need to have stable coins in the portfolio or wallet you’re storing in because the more it fluctuates, the more disrupted situation becomes. Coins like Paragon, Cardano and Stellar are excellent for long term.

[mahilchii]

Same reason we need Seatbelt and Helmets. It's common sense to add such safety measure to Cryptocurrency wallets and exchanges otherwise the Cryptocurrency World would be alot more risky and dangerous .

If you have a Car Racing Company and you want more people to use the cars, I guess the normal thing to do is to add some basic protections like seatbelts, helmets and others.

I appreciate the way you explained like supply and demand are key roles here. If the coins are not stable investors will lose trust as they think like this coin struggles a lot it creates a bad impact.

[miyaka26]

It's the same to a bunch of cryptocurrencies that serves the same purpose and features but claims they are better than anyone, competition, position, popularity, compatibility and being used in local, usdt has some issues from the past but I don't know what happened to the concerns about not backing by real us dollars, some have the purposes to serve local currencies and some of them offers better features, more to come I guess we should just avoid the fraud ones.