Why do we need so many stablecoins?

[kipoel]

I believe that would be used to maintain the price of a coin into a stable price.
That way will prevent the coin price to drop significantly or rise to much and then dropped.

[1715122917]

1715122917

[tsaroz]

Distributing funds in different options is always a good idea. We would not want to get stuck when a or some of them have problem or delays.
People would find is easier to have currencies fixed to the fiat they are used to.
And one day I hope these fiat fixed crypto would replace the need of forex as we have now.

[AngellSky]

Distributing funds in different options is always a good idea. We would not want to get stuck when a or some of them have problem or delays.
People would find is easier to have currencies fixed to the fiat they are used to.
And one day I hope these fiat fixed crypto would replace the need of forex as we have now.

It seems to me that first of all this requires the full legalization of the world's crypto currency, as well as the corresponding infrastructure, in order to be able to use the crypto currency at full strength.

[Febo]

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.

So they can compete among themselves and get better. Competition is only good for the end user.  In 10 years time you will not even have any ideas what crypto or what stable coin you use. Wallet that you will use will just pick the one that is best for your service.

[ronafurw]

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.

Be careful while you search for stable coins, don’t just go for any coin you see in the market because some of them are scam. People’s choice when it comes to having a stable coin used to be USDT but some people are saying that they don’t like it, so they are now going for TrueUSD (TUSD). TUSD on coinmarketcap and the price is: $1.00

[Vilianms]

Stabilizing coins is the bridge between the issuing country and the cryptocurrency. I think this is very good news. Many countries have issued their own stable coins.

[mrhood]

Because only thanks to them cryptomarket will be increasing and going up. Other coins have more chances to die in the future while stable coins are in the top of profitable coins.

[Herbert2020]

Because only thanks to them cryptomarket will be increasing and going up. Other coins have more chances to die in the future while stable coins are in the top of profitable coins.

haha, maybe you need to read the name again: it is called stable coin! which means there is no profit in it since its price is always stable. for example USDT is always $1 or at least it is supposed to be always worth $1.

and you are wrong about the increase being because of stable coins! that  doesn't even make sense. there is no relationship between an stable coin and price rise of any cryptocurrency.

[i7claufe]

I think we don't need "so many" stable coins. A few stable coins that would rule the industry is enough for example BIG threes like - BTC, XRP and ETH is enough as long as they Stabilize, where as of now, they are very far from being stable. They would be stable then if they would be used on a daily basis on daily interactions which is very inevitable in the coming years. These stable coins should then be the foundation of all the coins coming in and out of the industry.

[wall101]

Stable coins has a big potential in our future.
So many projects is always making here and announce what will give help to us in our life's.

[Jamesdila1]

because tech is become advance day by day. so new more and more coins joins the crypto market. i think competition is good thing. that makes the market better and quality.

[leviathon]

It is because we already have so many volatile coins in the market and we are going to start needing some kind of balance between the two coins if we ever hope for cryptos to actually become an accepted legal tender by all. The volatile state of most of the cryptocurrencies is what makes them so hard to be used for buying and selling as their values are ever changing

[aldorexxx]

Stability is the main aim on the cryptocurrency market so it is clear. Stablecoins will make the market balanced and there will not be any great changes in prices.

[Razick]

We need them because so many of the coins in the market are already so volatile that people are very scared of investing in the coins. there need to be some kind of alternative option in the form of stable coins for the people who are not ready to test their luck with the large variety of volatile coins in the market. We need the stable coins to be able to maintain balance.

[drmasa]

It's good way to take profit fast when you hear bad news about some coin that you are holding. Since now USDT was safe coin but last few days I wouldn't count on it. Bittrex and Cex have USD already and Poloniex have USDC, so I dont think its bad thing to have some security on crypto exchanges.

[Gandam23]

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.

We need stable coins but it is not existing. Maybe stable in a price manner. We all know that cryptoccurency is volatile in terms of value so we should know that it is always changing by time when theres so many transaction happening resulting changes in the market. So if we hold tokens and wait for the right time. That how tokens be stable maybe. Thats what I think or maybe it will rise up.

[asayoyaasa]

I know what you mean about stable coin, that is coin for change crypto in fiat using 1:1 rate. We have stable coin like Tether and USDT to safe our fund in USD. For anyone who can't enjoy this volatile price, will be better if they just exchange their asset to tether or usdt.